Broad Rental Market Area Profile – Perth and Kinross
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 Perth and Kinross have been lower than the Scotland average in each year since 2010. The gap has widened since 2013, although has narrowed slightly in the most recent year, with the average rent in 2021 being £590 per month, compared to the Scotland average of £693.
Between 2020 and 2021, average rents have increased for 1 bedroom (2.5%), 2 bedroom (2.9%), and 3 bedroom (2.0%) properties, with decreases for 4 bedroom (-3.4%) and 1 bedroom shared properties (-7.7%), which compares to CPI inflation of 1.5% across this time period. Although some caution is needed when interpreting the changes over time for 4 bedroom and 1 bedroom shared property size categories, given the smaller sample numbers for these categories.
Between 2010 and 2021 there have been increases in average rents for all property sizes, ranging from 16.2% for 1 bedroom properties to 26.0% for 4 bedroom properties. This compares to CPI inflation of 24.3% across this time period.
For 2 and 4 bedroom properties, since 2019 there has been a greater increase in the top end (upper quartile) rents compared to the bottom end (lower quartile), which has caused a slight increase in the gap between the top and the bottom of the market.
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