Private sector rent statistics: 2010 - 2020

Broad Rental Market Area Profile – North Lanarkshire

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.

Between 2019 and 2020, average (mean) rents in North Lanarkshire have increased for all property sizes, with increases seen for 1 bedroom (1.2%), 2 bedroom (3.1%), 3 bedroom (2.9%), 4 bedroom (4.8%) and 1 bedroom shared (5.4%) properties, which compares to CPI inflation of 0.5% across this time period. Average rents have increased for all property sizes between 2010 and 2020 with the largest increase of 20.2% being seen for 4 bedroom properties. This compares to CPI inflation of 21.5% across this time period.

For 4 bedroom properties, since 2010 increases in the top end (upper quartile) of rents have generally been greater than increases in the bottom end (lower quartile), which has widened the gap in rents.

Average 2 bedroom rents have been lower than the Scotland average in each year since 2010, and this gap has widened over the years, with the average rent in 2020 being £503 per month, compared to the Scotland average of £6891