Scottish rent increases slow to 1.1 per cent

The figure announced by Your Move represents the slowest increase in almost two years.

The lettings agent network’s latest index showed that the average residential rent across Scotland increased only £6 in the year to February, reaching £537 per month last month.

On a monthly basis, Scottish rental prices have climbed 0. 2 per cent since January, marking the first monthly rent rise since November last year.

Meanwhile, the financial health of tenants appears to have declined, with February seeing the highest proportion of late rent since December 2012.

Edinburgh and the Lothians experienced the strongest annual rent growth, with prices climbing 2.5 per cent (equal to £15) in the 12 months to February.

The Highlands and Islands experienced the biggest annual drop in average rents, which 1.6 per cent, equivalent to £9.

While rent rises have decelerated, many tenants are still behind with their payments.

Last month the proportion of late rent rose to 8.1 per cent, its highest level for more than two years.

For landlords the average total annual return on a rental property in Scotland stands at 8.2 per cent in the year to February, up 7 per cent on a year ago.

This means the average buy-to-let investor has seen a return, before any mortgage payments or maintenance costs, of £12,689 over the 12 months to February.