Rents and yields rise in Scotland as London market slows
The UK rental market remained relatively buoyant during April, figures from Your Move showed.
Rents in England and Wales rose by 0.5 per cent to £861 per calendar month (pcm) in the year to end-April 2019. In Scotland, rents grew by 1.7 per cent to £581 a month.
London remains the UK’s most expensive place to rent at £1,262 per calendar month, although the average fell by 1.1 per cent year-on-year. In Scotland, the most expensive region is Edinburgh and Lothians, where rents rose by 3.1 per cent to £693 annually.
The fastest-growing rents were recorded in the West Midlands, with growth at 4 per cent to £641 pcm.
Landlords’ yields remained flat on average at 4.3 per cent across England and Wales during April compared to March.
The northern regions continued to offer the highest yields. Typical yields were five per cent in the North East, 4.8 per cent in the North West, 3.2 per cent in London, and in both South East and South West, 3.3 per cent.
The average yield in Scotland rose month-on-month for the first time since March 2017, up to 4.7 per cent.