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Rise reported in region’s rental prices

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By Euan Maxwell
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Rise reported in region’s rental prices

RENT in the region rose sharply by 5.71 per cent over the summer.

Research published by the Deposit Protection Service (DPS) revealed an average rise of £27 per month for tenants across Dumfries and Galloway in the third quarter of 2020.

It comes following increased demand for rural properties as more UK residents relocate to the countryside in light of Covid-19, with rent prices dropping in cities such as Bristol, London and Middlesbrough, where rent rates fell by 5.72 per cent, whilst rural areas such as East Sussex and Cumbria also saw rent rise.

Matt Trevett, managing director at The DPS, said: “Our latest Rent Index clearly shows that tenants are following homeowners in reconsidering city living and moving to the countryside.

“The prevalence of homeworking seems to be causing many urban renters to reassess their priorities, including a new desire for increased indoor and outside space.

“Greater demand for both rural and larger properties seems to have driven rent prices up while urban property and flats have become cheaper for tenants.”

Reacting to the spike, Dumfriesshire MSP Oliver Mundell added: “This is unwelcome news for renters and comes at a difficult time with many people worried about their finances.

“It is hard to work out the exact reason for this sharp rise but the best answer moving forward is to ensure there is enough affordable housing available to meet demand and give people the choice about where they live.”

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