Your Move chief boasts of higher yields than most of England and Wales

The latest rental figures produced by Your Move for Scotland have prompted a claim that the country now has better yields than most regions of England or Wales.

In headline terms, the average seasonally-adjusted rent in Scotland now stands at £572 pcm - this is broadly flat compared to a year ago. 

This is despite a marginal dip of 0.1 per cent on rents last month compared to August 2017.

However there was some disparity between regions, with some posting strong growth while others showed a modest decline in rents. 

The stand-out performance came from the Highlands and Islands region, with average rents growing by a remarkable 13.3 per cent in the year to August. 

This left the average rent in the region at £684 pcm, making it the most expensive place to rent in all of Scotland, overtaking even the Edinburgh and Lothians region. 

“Overall the Scottish rental market is flat compared to last year, but improving tenant finances will be music to the ears of landlords. Property investors continue to see yields which are better than the majority of regions in England and Wales” claims  Brian Moran, Your Move Scotland’s lettings director.

Meanwhile this weekend is the deadline for agencies to sign up to new rules in Scotland’s Letting Agent Code of Practice, which was introduced on January 31. 

From Monday it will be a criminal offence to conduct letting agency work in Scotland if you aren’t on the register. 

Those breaking the rules could face a fine of up to £50,000 and up to six months imprisonment.