Rent rises after LBTT

25. Rent rises after LBTTRents in Scotland are at an all time high after the fastest month-on-month growth on record, according to the latest Scotland Buy-to-Let Index from Your Move, which shows average rents have increased 1.3 per cent from April making the average rent in Scotland now £549 per month, surpassing the previous record set in July 2015.

Brian Moran, Your Move Scotland’s lettings director, said: “Rents are rising rapidly as a result of the new LBTT surcharge on buy-to-let properties, which has dissuaded landlords from investing in the sector and created a shortage of homes to rent.

As a result, potential tenants have been forced to compete to secure homes, pushing up rents.” However, the regional picture shows that while Glasgow and Clyde saw the steepest uplift month-on-month, rents in the Highlands and Islands increased by only £1 – and in the South of Scotland the increase was marginal, making it the lowest average of any region.

Source: heraldscotland

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