Rents and house prices surge to record levels in Scotland

Meanwhile, The Halifax said that property prices have gone up by 4.9% annually to August – the second highest rise in the UK after Northern Ireland.  

The mortgage lender calculates that the average price of a home in Scotland is now £215,594.  

Surging rents and property prices come against a background of record rises for both across Britain as a while.  

Rightmove said that the UK’s average advertised rent hit an all-time high of £1,577 per month in August. 

Property prices and rents are surging across the UK (Image: NQ) Average advertised rents were 3% higher than a year earlier, with a constrained supply of homes contributing to rising rents, Rightmove said. 

 While the number of available homes to rent across Britain is 8% higher than a year earlier, it is still 27% lower than in August 2019, the website added. 

On the housebuying front, the average UK house price reached a high last month following three month-on-month rises in a row. 

Typical property prices are approaching £300,000, at £299,331. 

 The report from Halifax, found the average UK house price increased by 0.3% month on month in August, following monthly rises of 0.4% in July and 0.1% in June. 

The average price of UK property is almost £300,000 (Image: NQ) Speaking about the rent rises, Colleen Babcock, a property expert at Rightmove said: “There are challenges for both tenants and landlords in the current market. 

“While tenants looking to move have more choice and less competition from other tenants compared with a few years ago, some may still find their options limited with rents at record levels.” 

She added: “Landlords provide vital homes to tenants and have already faced an increase in taxation through stamp duty changes. 

“It is essential that it remains attractive and viable to be a landlord so that tenants have comfortable places to live. 

“If more landlords are driven out of the sector by more and more taxation, it will be tenants who lose out in the long run.”

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Amanda Bryden, head of mortgages at Halifax, said: “The average property price now stands at £299,331 – a new record high – although annual growth has eased slightly to 2.2%.

“The story of the housing market in 2025 has been one of stability. Since January, prices have risen by less than £600, underlining how steady the market has been despite wider economic pressures. 

“Though overall prices have edged higher, average property values for first-time buyers moved in the opposite direction over the summer, a trend that will be welcomed by those looking to get on the ladder. 

“For those able to overcome the hurdle of saving a deposit, the numbers increasingly stack up. The typical first-time buyer property now costs £237,577, down 0.6% since May.”