Main Findings for 2 Bedroom Properties
From 2018 to 2019, 15 out of 18 areas have seen increases in average rents for 2 bedroom properties. These ranged from 0.2% in North Lanarkshire to 5.3% in Greater Glasgow. The areas which showed decreases in average rents for 2 bedroom properties between 2018 and 2019 were Aberdeen and Shire (-0.3%), The Ayrshires (-0.7%) and East Dunbartonshire (-1.0%).This is the fifth consecutive annual decrease for Aberdeen and Shire, which is likely to reflect decreased demand for rental properties following the downturn in the oil industry. See Chart 4 and Table 2 below.
These regional trends combine to show an increase of 1.5% in average rents between 2018 and 2019 for 2 bedroom properties, at the Scotland level, from £652 to £668. This compares to an increase in the UK Consumer Price Index of 1.7% in the year to Sept-19.
Over the 9 year period from 2010 to 2019, the Lothian area of the country has seen the highest increase in private rents for 2 bedroom properties, with average monthly rents rising from £665 per month to £972, or 46.3% (cumulative increase over 9 years). Average rents in the Greater Glasgow area have risen by a cumulative 38.3% over the last 9 years (from £564 to £780). For the remaining areas of Scotland, cumulative increases over the last 9 years have ranged from 1.4% in Aberdeen and Shire to 22.1% in Fife.
These regional trends combine to show a 24.6% cumulative increase in average rents from 2010 to 2019 for 2 bedroom properties at the Scotland level, from £536 to £668.
Figures on changes to rents over the period from 2010 to 2019 should be considered in the context of the cumulative increase in the UK Consumer Price Index of 20.8% from Sept-10 to Sept-19. Over the 9 year period, average rents for 2 bedroom properties in the Fife, Forth Valley, Lothian and Greater Glasgow areas have risen faster than the consumer price index, whilst changes in average rents for 2 bedroom properties in other areas of the country have been below the rise in the consumer price index.
Chart 4 Cumulative % Change in Average (mean) Rents from 2010 to 2019 (years to end-Sept), by Broad Rental Market Area - 2-Bedroom Properties
Table 2 - 2 Bedroom Properties - Average (mean) Monthly Rents (£): Cumulative Changes 2010 to 2019, by Broad Rental Market Area
|2010||2018||2019||2010 to 2019 change||2018 to 2019 change|
|Highland and Islands||503||583||601||19.4%||3.1%|
|Dundee and Angus||497||562||582||17.0%||3.6%|
|Perth and Kinross||506||551||564||11.3%||2.4%|
|Argyll and Bute||503||536||557||10.8%||3.9%|
|Dumfries and Galloway||435||461||476||9.3%||3.0%|
|Renfrewshire / Inverclyde||473||508||513||8.4%||1.0%|
|Aberdeen and Shire||643||654||652||1.4%||-0.3%|
See Reference Tables (Tables 7 to 15) for a more detailed breakdown of quartile and average rents for each year.
For the year to end-September 2019, Lothian had the highest average monthly rents for 2 bedroom properties across Scotland (£972). Other areas with higher than average (£668) rents included Greater Glasgow (£780) and East Dunbartonshire (£677). Areas with the lowest average rents for 2 bedroom properties were and the Scottish Borders (£490), North Lanarkshire (£488), and The Ayrshires (£471). See Chart 5 below.
Chart 5 Average (mean) Monthly Rents 2019 (year to end-Sept), by Broad Rental Market Area - 2-Bedroom Properties