Main Findings for 1 Bedroom in a Shared Property
From 2017 to 2018, 12 out of 18 areas have seen increases in average rents for 1 bedroom shared properties. The increases ranged from 1.0% in Dumfries and Galloway to 14.4% in the Scottish Borders. There were five areas that saw decreases, ranging from a drop of 10.1% in East Dunbartonshire to a drop of 1.2% in Aberdeen and Shire. This is the third consecutive annual decrease for Aberdeen and Shire, which is likely to reflect decreased demand for rental properties in recent years following the downturn in the oil industry. See Chart 10 and Table 5 below.
These regional trends combine to show an increase of 4.7% in average rents from £350 in 2017 to £366 in 2018 for 1 bedroom in a shared property 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 8 year period from 2010 to 2018, the Scottish Borders have seen the highest increase in average private rents for 1 bedroom shared properties, with average rents rising by 39.7% (cumulative increase over 8 years).
A further 7 areas have seen increases that were higher than the Scotland average over the 8 years (22.1%). These ranged from 23.1% in Greater Glasgow to 37.3% in Fife. Other areas that saw increases to a lesser extent ranged from 1.4% in Argyll and Bute to 19.0% in Perth and Kinross.
These regional trends combine to show a 22.1% cumulative increase from £300 in 2010 to £366 in 2018 for 1 bedroom shared properties at the Scotland level.
Figures on changes to rents for 1 bedroom shared 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. Over the 8 year period, average rents for 1 bedroom shared properties in 10 out of 18 areas of Scotland have risen faster than the consumer price index, whilst changes in average rents for 1 bedroom shared properties in other areas of the country have been below the rise in the consumer price index. This is shown on Chart 10.
Chart 10: Cumulative % Change in Average (mean) Rents from 2010 to 2018 (years to end-Sept), by Broad Rental Market Area - 1 bedroom shared properties
Table 5: 1 Bedroom Shared 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|
|Highland and Islands||287||327||371||29.1%||13.4%|
|Dundee and Angus||263||309||332||26.3%||7.4%|
|Perth and Kinross||262||308||312||19.0%||1.2%|
|Aberdeen and Shire||328||358||354||7.8%||-1.2%|
|Dumfries and Galloway||278||292||295||6.1%||1.0%|
|Renfrewshire / Inverclyde||296||304||309||4.2%||1.5%|
|Argyll and Bute||316||301||320||1.4%||6.4%|
Note: Figures for rooms in shared properties represent "rent only", i.e. exclude any payments for shared services.
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 1 bedroom shared properties across Scotland (£425). Other areas with higher rents included Greater Glasgow (£386), Fife (£372), Forth Valley (£371), and Highland and Islands (£371). Areas with the lowest average rents included Dumfries and Galloway (£295) and Renfrewshire / Inverclyde (£309). See Chart 11 below.
Chart 11: Average (mean) Monthly Rents 2018 (year to end-Sept), by Broad Rental Market Area - 1-Bedroom Shared Properties
Email: Felix Palin