Scottish rental yields rise to 4.7%
Rental yields in Scotland rose to 4.7% in April, as Scotland continues to compare favourably to areas in England and Wales.
The only areas that compare south of the border are the North East (5%) and the North West (4.8%).
Rents rose by 1.7% in the year to April 2018, leaving rents averaging at £581. Within this, they increased by 3.1% in Edinburgh, and by 3.6% in the Highlands and Islands region.
Brian Moran, lettings director, Your Move Scotland, said: “As we enter the summer months, we can reflect on the resilience of the Scottish rental market, which has weathered a difficult winter admirably.
“The Highlands have continued their recent trend of strong rental yields. This is fuelled in part by an influx of young professionals into Inverness, such as student doctors at Raigmore Hospital.
“The market in this region has been further buoyed by a strong holiday lettings market as investors and tenants, from the south of Scotland and even England and Wales, are drawn to the beauty of the Highlands.
“Elsewhere we have seen rising demand from tenants for two and three-bedroom homes in commuting towns such as West Lothian and South Fife, which are providing a more affordable option for growing families.
“Any landlords looking to buy in these areas should consider speaking to a local estate agent who can provide expert knowledge on yields, transport links, local schools and other amenities on offer.”