New data shows only modest rise in Scottish rent deposits
Scotland’s average private rented sector deposits have shown only modest increases over the last two years and may actually be on the decrease, according to new data.
As debate continues over the prospect of rent controls in the private rented sector, a Scottish tenancy deposit scheme has revealed data which it argues provides the most accurate state of the Scottish sector yet.
Data released by SafeDeposits Scotland, which holds over 60 per cent of deposits in the country’s private rented sector, has revealed that the average deposit in Scotland has risen just £15.73 in two years (April 2013 – April 2015), and has reduced by 4p in the last year (April 2014 – April 215).
Jen Paice, CEO of SafeDeposits Scotland, said: “The private rented sector is growing both in size and importance throughout the UK and particularly in Scotland. Yet what’s often underestimated and perhaps overlooked is the value of its contribution to the nation’s economy so as the largest of Scotland’s tenancy deposit schemes we feel it’s important to present the data we have and help provide an accurate snapshot of the sector.
“This is the largest data sample there is in Scotland for deposits and it provides perhaps the clearest message yet that in Scotland rents aren’t going up substantially, as deposits are on average made up of six weeks’ rent.
“With discussions over the impact of rent controls and whether these would be anti-landlord or anti-tenant, whether landlords would be likely to disinvest or not, these figures might provide some context as a useful indicator of where rents are in Scotland compared to the rest of the UK.”
SafeDeposits Scotland is a not-for-profit, Scottish Government approved tenancy deposit scheme with over 92,000 deposits currently under protection worth in excess of £60 million.