Private Sector Rent Statistics, Scotland, 2010 to 2023

Note that some areas have a relatively low number of 4 bedroom 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 2023, average 4 bedroom rents increased above the average 12 month UK CPI inflation rate of 9.0% in 8 out of 18 areas, ranging from an increase of 9.8% (or £131 per month) in Fife up to 23.6% (£418 per month)  in Greater Glasgow. One area (Renfrewshire / Inverclyde) saw an increase at the rate of inflation of 9.0% (or £117 per month). A further eight areas saw an increase in average rents but below CPI, ranging from 2.1% (or £29 per month)  in South Lanarkshire up to 8.9% (£122 per month) in Aberdeen and Shire. One area (Argyll and Bute) saw a decrease in average rents of 3.8% (or £52 per month).

Average rents for 4 bedroom properties at the Scotland level were estimated to increase by 13.4% (or £196 per  month) between 2022 and 2023, to reach £1,656 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 4 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 period from 2010 to 2023, 13 out of 18 areas have seen rent increases above the level of CPI inflation for 4 bedroom properties, ranging from an increase of 50.3% in North Lanarkshire up to 105.4% in Greater Glasgow.

These cumulative increases equate to a range of annualised growth rates between 3.2% in North Lanarkshire to 5.7% in Greater Glasgow, when calculated on a compound annual increase basis between 2010 and 2023.

For the remaining five areas of Scotland, cumulative increases have been below CPI inflation, ranging from a 32.5% increase in West Dunbartonshire up to a 44.3% increase in the Ayrshires.

These regional trends combine to show an estimated 76.5% cumulative increase for 4 bedroom properties between 2010 and 2023 (equating to an annualised growth rate of 4.5%), to reach £1,656 in 2023. See Table 4, Chart 8 and Chart 9 below.

Table 4: 4 Bedroom Properties - Average (mean) monthly rents (£): Cumulative changes 2010 to 2023, by Broad Rental Market Area

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 8: Greater Glasgow, Scottish Borders, Fife and Lothian have seen the largest cumulative percentage rises in average 4 bedroom rents between 2010 and 2023

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

Chart 9: In 2023, Lothian had the highest average monthly 4 bedroom rent (£2,447), with Dumfries and Galloway having the lowest (£844)

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