Broad Rental Market Area Profile – Argyll and Bute
Note in the following text and charts that average rents that have changed within +/- 0.5% could be considered as being fairly similar to previous periods.
Average (mean) 2 bedroom rents in Argyll and Bute have been lower than the Scotland average in each year since 2010. Although the gap has grown over the years, this has decreased slightly in the latest three years with the average rent in 2021 being £583 per month, compared to the Scotland average of £693.
Between 2020 and 2021, average rents in Argyll and Bute have showed little change for 1 bedroom properties (0.1%), whilst average rents have increased for 2 bedroom (0.9%) and 1 bedroom shared properties (13.5%), and have dropped for 3 bedroom (-11.0%) and 4 bedroom (-5.5%) properties, compared to CPI inflation of 1.5% across this time period. Although some caution is needed when interpreting the changes over time for 3 bedroom, 4 bedroom and 1 bedroom shared properties given the smaller sample numbers for these categories.
Between 2010 and 2021, average rents have increased for all property sizes, ranging from 3.4% for 3 bedroom properties to 20.8% for 1 bedroom shared properties, which compares to CPI inflation of 24.3% across this time period.
3, 4 and 1 bedroom shared properties have each seen some variation each year since 2010 in the gap between the higher end (upper quartile) and lower end (lower quartile) of the market, although some of this may be due to the smaller sample numbers for these categories.