Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Strategy. Read the original article for full details.
Scotland Records Highest Monthly Rental Growth in UK
Scotland experienced the sharpest monthly rental growth of any UK nation or region, with average rents rising by 7.7% from April to May, according to new figures from Propertymark. The average rent in Scotland reached £1,257, which pushed the average salary required to secure a home to £37,710.
The North East saw the second-highest monthly rental growth at 4.9%, but average rents there were lower at £877, requiring an average salary of £26,310. In Yorkshire and Humberside, rents increased by 2.7% to £976, and the region recorded the largest annual increase in salary requirements, rising by 3.5% year on year to £29,280.
London’s average rents rose by 2.1% to £2,307, with the average salary needed to afford this reaching £69,210. The South East and East of England were among the few regions to see a slight improvement in affordability year on year, with salary requirements dipping by 1.8% to £44,640 and by 0.9% to £40,140 respectively, alongside relatively stable rental prices.
Propertymark’s data highlights that while average rents increased nationally during the month, much of the growth was driven by stronger-performing regions such as Scotland, London, and parts of northern England. The figures also show that in most regions, the salary needed to secure an average-priced rental home has increased over the past year, with notable rises in Yorkshire and Humberside, the North East, and Scotland.
These trends underline the continued imbalance between tenant demand and available rental stock in several high-pressure markets, while some regions have seen modest improvements in affordability. The data suggests that many renters continue to face challenges keeping pace with housing costs.
Source: Mortgage Strategy