Private Sector Rent Statistics, Scotland, 2010 to 2022

7. Main Findings for 1 Bedroom Shared Properties

Note that some areas have a relatively low number of 1 bedroom shared property records recorded, and therefore some caution is needed when interpreting the findings given that the averages presented can be based on a small number of underlying records.

In the year to end September 2022, average 1 bedroom shared rents increased above the average 12 month UK CPI inflation rate of 7.6% in 10 out of 18 areas, with the largest increases being in Perth and Kinross (20.2%) and Forth Valley (19.6%).

Six areas saw average 1 bedroom shared rents increase by less than CPI, one area (Aberdeen and Shire) saw little change (within +/-0.5%) in average rents compared with the previous year, and East Dunbartonshire saw a decrease in average rents of 3.7%.

Average rents for 1 bedroom shared properties at the Scotland level increased by an estimated 6.9% between 2021 and 2022, to reach £426 in 2022, which compares to an average increase in UK CPI of 7.6% across the year to September 2022.

Figures on longer term changes to rents for 1 bedroom shared properties over the period from 2010 to 2022 should be considered in the context of the cumulative increase in UK CPI of 33.7% from the year to end September 2010 to the year to end September 2022.

Over the 12 year period from 2010 to 2022, nine areas have seen rent increases for 1 bedroom shared properties above the level of CPI inflation, ranging from an increase of 36.6% in Dundee and Angus up to 54.9% in Forth Valley.

These cumulative increases equate to a range of annualised growth rates between 2.6% in Dundee and Angus up to 3.7% in Forth Valley, when calculated on a compound annual increase basis between 2010 and 2022.

For the remaining nine areas of Scotland, cumulative increases have been below CPI inflation, and have ranged from 9.9% in Aberdeen and Shire to 33.6% in South Lanarkshire.

These regional trends combine to show an estimated 39.4% cumulative increase for 1 bedroom shared properties between 2010 and 2022 (equating to an annualised growth rate of 2.8%), to reach £426 in 2022. See Table 5 and Chart 10 below.

Note: See the Supporting Documents Excel Workbook Table 7 for a more detailed breakdown of quartile and average rents for each year. Also note that the Scotland figures have been calculated using a weighted stock approach, with further information on this available in Section 8 and Annex C.