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TODAY'S OTHER NEWS


Arrears rising - even where letting agent fees are banned

Tenant arrears are rising in Scotland, even though letting agents’ fees on tenants are banned.

Agents’ fees on renters, which are legal in England and Wales, are often cited as reasons why tenants are struggling financially. However in Scotland figures from the letting agency Your Move suggests that the proportion of rent in arrears rose in June to 9.0 per cent, up from 8.8 per cent in May.

A year previously, rent in arrears stood at just 6.1 per cent of rent due in the month. 

“It’s become clear over the past year that this isn’t a problem that’s going to fix itself.  Greater supply of homes to let is the only way to definitively address the housing shortage, and ease the financial pressure in the market” says a Your Move spokesman.

Meanwhile broader rental data suggests that private sector rents generally north of the border are now 3.1 per cent higher than a year ago.

This takes average Scottish rent to new peak of £549 per month, after a rise of 0.8 per cent in June alone. 

Rents are also at regional record highs in what were considered more affordable parts of Scotland – East, South and Highlands & Islands.“It’s not just the big urban centres of Edinburgh and Glasgow which are coming up against an urgent shortfall of housing – there is furious demand for homes to let the length and breadth of the nation, and that is underpinning this build-up in rental prices” says a Your Move spokesman. 

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