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TODAY'S OTHER NEWS

Rents ease in Scotland - just as rent caps are considered by lawmakers

Typical rents in Scotland are down from £757 per month to £747 according to Citylets - just as the Private Housing (Tenancies) (Scotland) Bill is being considered, with a provision for rent caps. 

The Scottish Parliament is considering the Bill, which includes calls for caps in so-called Rent Pressure Zones. 

Meanwhile on the free market, rental growth has also again slowed from 2.9 per cent per year at the end of the second quarter of 2015, to 2.0 per cent at the end of the third quarter, says Citylets.

But these figures mask more significant variations.

Average rents in Aberdeen have fallen 15.9 per cent over the last year, largely because of oil price falls dragging down the local economy.

“We generally report on what we have seen but it isn’t hard to foresee annual growth for Scotland tending towards zero later in 2016. Aberdeen has further to fall” warns Citylets founder Thomas Ashdown.

Meanwhile Edinburgh has overtaken Aberdeen as the most expensive city to rent in Scotland with its 11th successive quarterly rise. Whilst annual growth may have cooled slightly to 5.7 per cent, the Scottish capital’s market is predicted to continue to rise throughout 2016.

Edinburgh average rents now stand at £951 per month with positive gains recorded for all property types. 

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