• Scottish PRS grows at 2.2% YOY

  • Glasgow records sharp rise at 4.9%

  • Edinburgh rises for 32nd consecutive quarter

  • Negative annual growth eases in Aberdeen

  • Strong demand for large properties continues

According to the latest report from Citylets, Scotland’s Private Rented Sector growth continued with noticeable uptick in Glasgow where rental growth spiked sharply. 4 bed properties recorded the largest rise across the country as a whole for the 3rd consecutive quarter, seemingly underlining the strong demand for family accommodation. Rents in Scotland were up on Q3 2017 by a modest 2.2% overall year on year (YOY) to stand at £789 per month on average and taking 31 days to let, just 1 day faster than last year.

The rate of rental growth in Edinburgh, which quickened last quarter, has been sustained in Q3, now up 5.6% YOY to another all time high at £1107. Positive annual growth in the capital has now been recorded for 32 consecutive quarters, 8 full years. 4 bed properties again saw the largest rises over the one year and ten year perspective, up 10.8% and 53% respectively. The average time to let in Edinburgh during the peak Q3 period was just 21 days and just 17 days for 1 bed properties. The large majority of
properties in Edinburgh are let within a month (76%).

You can view the full report from Citylets here: Download Report

Source: Citylets