The SNP’s rent control scheme has been branded an “abject failure” as new figures revealed that prices increased more rapidly in Scotland than any other nation or region in the UK.
Analysis of Office for National Statistics (ONS) data reveals that since constraints came into force average private rent in Scotland rose by 16.5%, from £813 to £947.
In some areas, such as Lothian and Glasgow, the increases were more than 20%, according to The Times.
Nicola Sturgeon’s government introduced a 3% cap on annual rent increases from September 6, 2022, and placed a pause on evictions as a response to the cost of living crisis while inflation soared.
The policy was eventually extended through to March this year, although the terms were eased slightly so landlords could make cases for upping prices by as much as 6% because mortgage rates had climbed.
Miles Briggs, the Scottish Conservative MSP, said: “These figures prove beyond all doubt the abject failure of the SNP-Greens’ rent control scheme."
Fergus Ewing, the SNP MSP, urged Swinney to take a new approach as he insisted rent freezes “drive landlords out of the market”.
“If you punish business with unworkable policies rents will go up and investment will be driven out is Scotland,” he said. “An annual cap for rental increases would be a sensible practical solution.”
The SNP said the figures were based on newly advertised rents and failed to provide a full picture of the market.