Main Findings for 3 Bedroom Properties
Between 2018 and 2019, 14 out of 18 areas saw increases in average rents. These ranged from 0.4% in Aberdeen and Shire to 6.6% in Dundee and Angus and 8.3% in Fife. 4 areas saw decreases in average rents, with Argyll and Bute seeing the largest decrease of 7.4%. See Chart 6 and Table 3 below.
These regional trends combine to show an increase of 0.2% in average rents from £855 in 2018 to £857 in 2019 for 3 bedroom properties, at the Scotland level. 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, Lothian has seen the greatest increase in private rents for 3 bedroom properties, with average monthly rents rising from £918 to £1,329, a 44.8% increase (cumulative over 9 years). Average rents have increased in Greater Glasgow by 41.4% over the same time period.
For all other areas of Scotland, average rents for 3 bedroom properties have also increased. From 2010 to 2019, cumulative increases have ranged from 2.6% in Argyll and Bute to 26.8% in Fife.
These regional trends combine to show a 26.3% cumulative increase from £679 in 2010 to £857 in 2019 for 3 bedroom properties at the Scotland level.
Figures on changes to rents for 3 bedroom properties 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 3 bedroom properties have risen faster than the consumer price index in 8 areas, shown in Chart 6 below.
Chart 6 Cumulative % Change in Average (mean) Rents from 2010 to 2019 (years to end-Sept), by Broad Rental Market Area - 3-Bedroom Properties
Table 3 - 3 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|
|Dundee and Angus||633||746||795||25.6%||6.6%|
|Highland and Islands||595||710||726||22.1%||2.3%|
|Aberdeen and Shire||744||885||889||19.5%||0.4%|
|Perth and Kinross||647||723||759||17.2%||4.9%|
|Dumfries and Galloway||500||546||551||10.2%||0.8%|
|Renfrewshire / Inverclyde||612||656||666||8.9%||1.5%|
|Argyll and Bute||638||706||654||2.6%||-7.4%|
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 3 bedroom properties across Scotland (£1,329). Other areas with higher rents than the Scottish average for 3 bedroom properties (£857) were Greater Glasgow (£1,029), East Dunbartonshire (£946) and Aberdeen and Shire (£889). Areas with the lowest average rents included Scottish Borders (£616), North Lanarkshire (£569), and Dumfries and Galloway (£551), and See Chart 7 below.
Chart 7 Average (mean) Monthly Rents 2019 (year to end-Sept), by Broad Rental Market Area - 3-Bedroom Properties