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Scottish rents outpace rest of UK
25 July 2010
Average rents across the UK for the first half of 2010 have steadily increased on the same period of 2009, with Scotland recording the highest average growth at 12.39%. Nevertheless, the healthy rise of Scottish rents comes from a low base, with average rents in the region of £487 per month. The research by lettings firm Paragon Advance showed that the South East commanded the highest average in the country in H1 2010 at £949 per month, a 5.47% increase on the same period in 2009. The East of England came second with an average rent of £808, a 4.66% increase on H1 last year. However, Wales and the North West both saw average rents fall in the first six months of the year, by 8.6% and 1.7% respectively to £450 and £563. Paul Abbott, head of property and mortgages at Paragon Advance, says: "While there is a high desire to purchase property, the banks demand for large deposits often makes renting the only option for a number of people and so the rental market has remained buoyant during the first six months of 2010." Published by Mortgage Solutions
