Rise in rental sector makes buying harder

The figure is the sixth highest in Scotland.

Glasgow was home to the highest number of these businesses (560), followed by Edinburgh (450) and Aberdeen (210).

Just 10 were in each of Na h-Eileanan Siar, Orkney Islands, and Shetland Islands.

Industry experts said businesses are capitalising on the strength of the rental market.

Daniel Peacock, from property investment firm Property Secrets, said: “Sadly we have an ever growing financial gap in this country between the rich and the poor and whilst it is easier for those at the top of the ladder to obtain the finance needed to purchase multiple properties, it is more difficult for those at the bottom to even obtain their first.

“House prices have stayed relatively flat over the last 12 months but rent has continued to soar which makes it even more difficult for tenants to save to buy their first home.

“Those able to purchase multiple properties can set going rates for rents and this can be attractive as landlords not only benefit from capital growth but a rental yield that is often superior to their own mortgage costs.

“Should stamp duty be scrapped on houses under £500,000, it is likely to lead to an increase of even more investment property purchases which could lead to even more rising rents, ensuring those who own property will benefit from even greater rental yields in the future.”

Across the UK there were 51,265 companies involved in buying and renting property in 2018. That is up from 50,245 in 2017 and is also a record high.