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