Main Findings for 4 Bedroom Properties
From 2018 to 2019, 16 out of 18 areas have seen increases in average rents for 4 bedroom properties. The increases ranged from 0.6% in Lothian to 14.1% in Renfrewshire/Inverclyde, 15.6% in East Dunbartonshire and 16.2% in the West Dunbartonshire. Two areas saw decrease. These were a drop of 3.9% in the North Lanarkshire and a drop of 6.2% in Ayrshires. See Chart 8 and Table 4 below.
The regional trends combine to show a 3.7% increase for 4 bedroom properties from £1,278 in 2018 to £1,325 in 2019 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 2010 to 2019 period, West Dunbartonshire has seen the highest increase in private rents for 4 bedroom properties, with average monthly rents rising by 54.2% (cumulative increase over 9 years). Average rents in Greater Glasgow and Lothian have risen by 51.5% and 47.6%, respectively, over the same time period.
For the other areas of Scotland, cumulative increases have ranged from 4.6% in Argyll and Bute to 45.2% in Renfrewshire/Inverclyde. No areas of Scotland have seen decreases in average rent for 4 bedroom properties between 2010 and 2019.
These regional trends combine to show a 38.2% cumulative increase from £959 in 2010 to £1,325 in 2019 for 4 bedroom properties at the Scotland level.
Figures on changes to rents for 4 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. For example over the 9 year period, average rents for 4 bedroom properties in 14 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 4 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 2019 (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 2019, by Broad Rental Market Area
|2010||2018||2019||2010 to 2019 change||2018 to 2019 change|
|Renfrewshire / Inverclyde||834||1,061||1,210||45.2%||14.1%|
|Dundee and Angus||811||1,085||1,177||45.1%||8.5%|
|Aberdeen and Shire||944||1,249||1,306||38.4%||4.5%|
|Perth and Kinross||858||993||1,056||23.2%||6.4%|
|Highland and Islands||751||882||915||21.9%||3.7%|
|Dumfries and Galloway||620||688||737||18.8%||7.0%|
|Argyll and Bute||924||945||967||4.6%||2.2%|
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 2019, Lothian had the highest average monthly rents for 4 bedroom properties across Scotland (£1,905). Other areas with higher rents included Greater Glasgow (£1,617) and East Dunbartonshire (£1,553). Areas with the lowest average rents included Dumfries and Galloway (£737), Ayrshires (£848), and North Lanarkshire (£890). See Chart 9 below.
Chart 9 Average (mean) Monthly Rents 2019 (year to end-Sept), by Broad Rental Market Area - 4-Bedroom Properties