Areas for the UK's fastest growing rents revealed
The areas for the UK's fastest-growing rents have been revealed in a survey with Edinburgh topping the list.
According to Landbay, the average annual rent in the Scottish city rose by 4.63% this year.
The data highlights that across the country, rents grew by 0.97% over the year so rents in Edinburgh and Nottingham are rising at four times the pace than the national average.
However, rents dropped in 20 areas with the biggest decline of -7% being recorded for landlords in Aberdeenshire.
The worst five areas are all in Scotland with Aberdeen on -6.23%, Angus on -1.75% and Moray on -1.26%.
Rents grew in London by an average of 0.58%
While rents grew in London by an average of 0.58% in 2018, six boroughs saw rents fall, including Barnet, Enfield, Brent, Harrow, Kensington and Hillingdon.
Landbay’s chief executive, John Goodall, said: "The private rental sector has seen a varied performance geographically through the year in the face of Brexit uncertainty and tax and regulatory changes for landlords.
“The figures show how resilient the rental market continues to be."
He added that with an average rent growth of 0.97%, Nottingham and Edinburgh have been ‘impressive’ and have outperformed London rents.
The issues, Mr Goodall explains, for rents in Scotland are linked to the country’s declining oil industry.
The data also highlights that rents for one-bed properties have risen by 1.07%, with rents for two-bedroom properties growing by 1.02% and four three-bedroom homes rents rose by 0.98%.
Average rents for a one-bedroom home are £1,031, for a two-bed rental property they are £1,173 and for three-bedroom homes they are £1,347.
Law on habitable rented homes
Meanwhile, the bill on habitable rented homes has become law and will hand tenants new powers for taking their landlord to court should their home be deemed inhabitable.
The law has passed through Parliament and has now received Royal Assent.
The Homes (Fitness for Human Habitation) Bill now replaces the Landlord and Tenant Act 1985 and demands that rented accommodation is fit for human habitation.
Heather Wheeler, the Minister for Housing, said: "Everyone deserves a place that is safe and decent - whether you rent or own your home."