Parts of Scotland experienced record levels of rental growth in May, boosting the returns on offer for buy to let landlords
Glasgow saw the highest rate of growth at 5.7 per cent for the 12 months to May, according to the latest Scotland Buy to Let Index from Your Move.
Average rents north of the English border were up by one per cent on a monthly basis, which compares favourably to a rise of 0.1 per cent across the last six months.
The level of uplift in May is the strongest on record and means Scotland has experienced the quickest annual rental price rises for nine months.
Scotland’s largest city, Glasgow, and the surrounding Clyde region, saw rents increase to £566, providing a significant boost to the returns available to investors.
Buy to let annual returns have soared in the past year, from 8.9 per cent 12 months ago to 17.3 per cent in the year to May.
That represents an increase of 95 per cent, making Scotland an attractive proposition for locals considering buy to let investment.
“Double-digit total annual returns are a great bonus for existing Scottish property investors, and put them head and shoulders above their counterparts south of the border,” explained Brian Moran, Lettings Director at Your Move Scotland.
Glasgow also has a large student population and this has provided plenty of options for buy to let investors.
Around 80,000 students attend university in the city, providing a steady level of demand for rental property.