The pace of annual rent growth in Scotland has dropped by two-thirds during 2014.
Your Move says average monthly rents in Scotland are now just 1.2 per cent, or a paltry £6, higher than a year ago. This follows a monthly drop in average residential rents, down 0.4 per cent in December to £536 per month.
Your Move spokeswoman Christine Campbell says this downturn in fact marks a return to the natural market rhythm. Scottish rents were holding fast on an even keel throughout 2011 and 2012, until the abolition of tenancy fees in November 2012 sparked a new tide of unnaturally steep rent hikes.
Tenant finances across Scotland deteriorated in December.
The proportion of late rent rose to 7.2 per cent in December, the highest level since May 2013. On a monthly basis, the proportion of rent in arears has increased 0.6 percentage points over November. Compared to a year ago, the financial health of Scotland's tenants has declined too, with levels of late rent up from 6.5 per cent in December 2013.
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