Rents for two bedroom homes, the most sought after type of property in the private rented sector, have increased across most of Scotland, official figures show.
Data from Scotland’s chief statistician show that between 2016 and 2017 some 15 out of 18 areas saw increases in average rent levels for two bedroom private rental properties.
The increases ranged from 0.7% in the Ayrshires to 6.9% in Lothian and 7% in Greater Glasgow. However, Aberdeen and Aberdeenshire saw a decrease of 9.6%, the third consecutive annual decrease, which is likely to reflect decreased demand for rental properties following the downturn in the oil industry.
These regional trends combine to show a 4.4% increase in average two bedroom monthly rents from £616 in 2016 to £643 in 2017, the highest annual increase since 2010.
Over a longer seven year period from 2010 to 2017, the two areas of Lothian and Greater Glasgow have both seen two bedroom average rents increase above the rate of inflation of 15.9% over the full length of this time period, with all other 16 areas of Scotland seeing cumulative rent increases below the rate of inflation.
The Lothian area recorded the highest increase in private rents for two bedroom properties over this time period, with average monthly rents rising by 33.7% over the seven years, while average rents in the Greater Glasgow area increased by a cumulative 32.1%.
For the remaining areas of Scotland, cumulative increases over the seven years ranged from 0.5% in the Ayrshires to 14.9% in Fife. These regional trends combine to show a 19.9% cumulative increase in average rents from 2010 to 2017.
For the year to the end of September 2017, Lothian had the highest average monthly rents for two bedroom properties across Scotland at £888. Other areas with high rents included Greater Glasgow at £745, Aberdeen at £682, and East Dunbartonshire at £653. Areas with the lowest average rents included Dumfries and Galloway at £453, the Scottish Borders at £459, and Ayrshire at £467.
