Broad Rental Market Area Profile – Fife
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 Fife have been lower than the Scotland average in each year since 2010, although the gap has narrowed in the most recent year, with the average rent in 2021 being £616 per month, compared to the Scotland average of £693.
Between 2020 and 2021 average rents have increased for 1 bedroom (4.7%), 2 bedroom (5.2%), 3 bedroom (8.4%), and 4 bedroom (16.5%) properties, and have decreased for 1 bedroom shared properties (6.9%), which compares to CPI inflation of 1.5% across this time period.
Between 2010 and 2021 average rents have increased across all property sizes, ranging from an increase of 22.0% for 1 bedroom properties to an increase of 72.0% for 4 bedroom properties. This compares to CPI inflation of 24.3% across this time period.
Over the last four years, 4 bedroom properties have seen increases in the top end (upper quartile) of rents compared with the bottom end (lower quartile) which has widened the gap in rents between the top and bottom ends of the market.