03
May
2018

Scottish tenants must work 79 days to pay their rents

Scottish tenants have had to work fewer days than those in England to reach Rent Freedom Day this year.

The good news for renters is they work a full week less than those south of the border to pay for their private accommodation.

In Scotland, the target day is April 24, while in England, Rent Freedom Day is May 3.

Wales falls even earlier - on April 12.

A middle-income earner in Scotland renting an average two-bedroom home must work for 79 days to cover the rent for a year, while in England, the same renter would have to put in 86 days.

While tenants in the north, Scotland and Wales have seen the number of days they should work to hit Rent Freedom Day fall, Londoners must work even longer to pay for their homes - 101 days.

The figures come from a survey of 200,000 rent agreements by the BBC.

Meanwhile, according to letting agents Countrywide, the average cost of renting a home across the UK for March was £951 a month - up 1.7% from the same time last year.

Average rents in Scotland dropped from the second month running, but the rate of decrease is slowing.

Johnny Morris, research director at Countrywide, said: “Average rents grew in seven out of eight regions across Great Britain, with Scotland being the only region to see falls.  Rental growth during the first quarter of this year stands at 2.1%, 0.5% faster than the same period in 2017, as low stock levels continue to drive growth.”

Region

March 2018

March 2017

Annual change

London

£1,675.00

£1,641.00

2.1%

South East

£1,026.00

£1,017.00

0.8%

South West

£779.00

£765.00

1.8%

East

£936.00

£926.00

1.2%

Midlands

£668.00

£650.00

2.8%

North

£626.00

£620.00

0.9%

Scotland

£615.00

£625.00

-1.5%

Wales

£650.00

£636.00

2.1%

UK average:

£951.00

£935.00

1.7%

 

 

Source: Countrywide

Newsletter

Sign up for our newsletter to receive up-to-date information on Tenancy Deposit Protection from mydeposits Scotland