Private Sector Rent Statistics, Scotland, 2010 to 2023

This publication presents statistics on average private sector rent levels in Scotland by Broad Rental Market Area and size of property, for the years 2010 to 2023.


In the year to end September 2023, average 2 bedroom rents increased above the average 12 month UK CPI inflation rate of 9.0% in 11 out of 18 areas of Scotland, ranging from 9.6% (or £59 per month)  in South Lanarkshire up to 22.3% in Greater Glasgow (or £191 per month). A further seven areas saw increases but below the level of CPI inflation, ranging from 1.5% (or £7 per month) in Dumfries and Galloway to 8.6% (or £57 per month) in Aberdeen and Shire.

 

Average rents for 2 bedroom properties at the Scotland level increased by an estimated 14.3% (or £105 per month) between 2022 and 2023, to reach £841 in 2023, which compares to an average increase in UK CPI of 9.0% across the year to September 2023.

 

Figures on longer term changes to rents for 2 bedroom properties over the period from 2010 to 2023 should be considered in the context of the cumulative increase in UK CPI of 45.7% from the year to end September 2010 to the year to end September 2023.

 

Over the 13 year cumulative period from 2010 to 2023, six areas (Greater Glasgow, Lothian, East Dunbartonshire, Forth Valley, Fife and Dundee and Angus) have seen rent increases above the level of CPI inflation. Greater Glasgow and Lothian have seen the highest cumulative increase in private rents for 2 bedroom properties, with average rents rising by 86.2% and 79.3% respectively, equating to annualised growth rates of 4.9% and 4.6% when calculated on a compound annual increase basis between 2010 and 2023.

 

For the remaining areas of Scotland, cumulative increases have been below CPI inflation and have ranged from 11.8% in Dumfries and Galloway to 43.8% in Argyll and Bute.

 

These regional trends combine to show an estimated 51.9% cumulative increase for 2 bedroom properties between 2010 and 2023 (equating to an annualised growth rate of 3.3%), to reach £841 in 2022. See Table 2, Chart 4 and Chart 5 below.

 

 

 

Table 2: 2 Bedroom Properties - Average (mean) monthly rents (£): Cumulative changes 2010 to 2023, by Broad Rental Market Area

Broad Rental Market Area

2010

2022

2023

2010 to 2023 change

2022 to 2023 change

Greater Glasgow

564

858

1,050

86.2%

22.3%

Lothian

665

1,006

1,192

79.3%

18.4%

East Dunbartonshire

581

780

897

54.4%

15.0%

Forth Valley

492

697

748

51.9%

7.3%

Scotland

554

736

841

51.9%

14.3%

Fife

464

649

700

50.8%

7.8%

Dundee and Angus

497

648

745

49.9%

15.0%

Argyll and Bute

503

612

723

43.8%

18.2%

South Lanarkshire

481

613

672

39.9%

9.6%

West Dunbartonshire

492

582

682

38.6%

17.2%

North Lanarkshire

455

560

621

36.7%

11.0%

Renfrewshire / Inverclyde

473

547

638

34.9%

16.7%

Scottish Borders

442

525

586

32.6%

11.5%

Highland and Islands

503

643

662

31.5%

3.0%

West Lothian

527

673

688

30.5%

2.3%

Perth and Kinross

506

626

644

27.1%

2.8%

Ayrshires

464

493

546

17.5%

10.7%

Aberdeen and Shire

643

663

720

12.0%

8.6%

Dumfries and Galloway

435

480

487

11.8%

1.5%

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 average figures have been calculated using a weighted stock approach, with further information on this available in the Data and Methodology Section.

 

 

 

Chart 4: Greater Glasgow and Lothian have seen the largest cumulative % rises in average 2 bedroom rents between 2010 and 2023

2 bedroom properties: % change in average (mean) rents for years to end-Sept, by Broad Rental Market Area

A bar chart showing 2 bedroom properties: % change in average (mean) rents for years to end-Sept, by Broad Rental Market Area

 

Chart 5: In 2023, Lothian had the highest average monthly 2 bedroom rent (£1,192), with Dumfries and Galloway having the lowest (£487)

2 bedroom properties: average (mean) monthly rents in 2023 (year to end-Sept), by Broad Rental Market Area

A bar chart showing 2 bedroom properties: average (mean) monthly rents in 2023 (year to end-Sept), by Broad Rental Market Area

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