Main Findings for 4 Bedroom Properties
From 2017 to 2018, 12 out of 18 areas have seen increases in average rents for 4 bedroom properties. The increases ranged from 0.2% in Greater Glasgow to 25.6% in the Scottish Borders. Six areas saw decreases, ranging from a drop of 0.4% in the Ayrshires to a drop of 13.4% in East Dunbartonshire. See Chart 8 and Table 4 below.
The regional trends combine to show a 11.8% increase for 4 bedroom properties from £1,143 in 2017 to £1,278 in 2018 at the Scotland level. This compares to an increase in the UK Consumer Price Index of 2.4% in the year to Sept-18.
Over the 2010 to 2018 period, Lothian has seen the highest increase in private rents for 4 bedroom properties, with average monthly rents rising by 46.7% (cumulative increase over 8 years). Average rents in Greater Glasgow have risen by 43.1% over the same time period.
For the other areas of Scotland, cumulative increases have ranged from 2.3% in Argyll and Bute to 36.6% in Scottish Borders. No areas of Scotland have seen decreases in average rent for 4 bedroom properties between 2010 and 2018.
These regional trends combine to show a 33.3% cumulative increase from £959 in 2010 to £1,1278 in 2018 for 4 bedroom properties at the Scotland level.
Figures on changes to rents for 4 bedroom properties over the period from 2010 to 2018 should be considered in the context of the cumulative increase in the UK Consumer Price Index of 18.7% from Sept-10 to Sept-18. For example over the 8 year period, average rents for 4 bedroom properties in 13 out of the 18 areas have risen faster than the consumer price index, whilst changes in average rents for 4 bedroom properties in the other 5 areas of the country have been below the rise in the consumer price index. These can be seen in Chart 8.
Chart 8: Cumulative % Change in Average (mean) Rents from 2010 to 2018 (years to end-Sept), by Broad Rental Market Area - 4-Bedroom Properties
Table 4: 4 Bedroom Properties - Average (mean) Monthly Rents (£): Cumulative Changes 2010 to 2018, by Broad Rental Market Area
|2010||2017||2018||2010 to 2018 change||2017 to 2018 change|
|Dundee and Angus||811||1,047||1,085||33.7%||3.6%|
|Aberdeen and Shire||944||1,169||1,249||32.4%||6.9%|
|Renfrewshire / Inverclyde||834||1,095||1,061||27.2%||-3.2%|
|Highland and Islands||751||828||882||17.5%||6.5%|
|Perth and Kinross||858||1,018||993||15.8%||-2.5%|
|Dumfries and Galloway||620||702||688||11.0%||-2.0%|
|Argyll and Bute||924||980||945||2.3%||-3.6%|
See Reference Tables (Tables 7 to 14) for a more detailed breakdown of quartile and average rents for each year.
For the year to end-September 2018, Lothian had the highest average monthly rents for 4 bedroom properties across Scotland (£1,894). Other areas with higher rents included Greater Glasgow (£1,527) and East Dunbartonshire (£1,344). Areas with the lowest average rents included Dumfries and Galloway (£688), Highland and Islands (£882), and Ayrshires (£903). See Chart 9 below.
Chart 9: Average (mean) Monthly Rents 2018 (year to end-Sept), by Broad Rental Market Area - 4-Bedroom Properties
Email: Felix Palin