Private Sector Rent Statistics, Scotland, 2010 to 2023

The most common type of property in the private rented sector is a 2 bedroom property, with around half (49 per cent) of all private rented properties in Scotland estimated to be this size (See Table 3.6d 'Housing characteristics by tenure - Number of bedrooms (Scotland, 2019)' in the SHS Data Explorer). Findings relating to other sizes of properties can differ to this, and are provided later in this publication.

In the year to end September 2023, average 2 bedroom rents increased in all 18 areas of Scotland. Increases in 11 of these areas were above the average 12 month UK CPI inflation rate of 9.0%, ranging from  9.6%  (or £59 per month) in South Lanarkshire up to 22.3% (or £191 per month) in Greater Glasgow. The lowest increases were seen in Dumfries and Galloway (1.5% or £7 per month), West Lothian (2.3% or £16 per month), Perth and Kinross (2.8% or £18 per month) and Highland and Islands (3.0% or £19 per month).

These regional trends combine to show an estimated 14.3% (or £105 per month) increase in average 2 bedroom monthly rents at a Scotland level, which compares to an average increase in UK CPI of 9.0% across the year to September 2023.

In the year to end September 2023, Lothian had the highest average monthly rents for 2 bedroom properties across Scotland (£1,192). Other areas with high rents included Greater Glasgow (£1,050) and East Dunbartonshire (£897). Areas with the lowest average rents for 2 bedroom properties included the Ayrshires (£546) and Dumfries and Galloway (£487).

Figures on changes to rents over the period from 2010 to 2023 should be considered in the context of the cumulative increase in the UK Consumer Price Index 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, for 2 bedroom properties. See Chart 1 below.

Chart 1: 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.

Over the same period, 12 areas have seen increases below the level of CPI inflation, with the average 2 bedroom rent in Dumfries and Galloway 11.8% higher in 2023 than in 2010, and the average 2 bedroom rent in Aberdeen and Shire 12.0% higher compared to 2010, representing the lowest increases.

These regional trends combine to show an estimated 51.9% cumulative increase for average 2 bedroom properties in Scotland between 2010 and 2023, reaching £841 in 2023.

The changes in average rents for 2 bedroom properties between 2022 to 2023, and 2010 to 2023, are illustrated in the maps in Figure A and Figure B below.

Figure A shows that when looking at the 2 bedroom property size category between 2022 and 2023, that average rents have increased above CPI inflation of 9.0% in Greater Glasgow (22.3%), Lothian (18.4%), Argyll and Bute (18.2%), West Dunbartonshire (17.2%), Renfrewshire / Inverclyde (16.7%), East Dunbartonshire (15.0%), Dundee and Angus (15.0%), Scottish Borders (11.5%), North Lanarkshire (11.0%), the Ayrshires (10.7%) and South Lanarkshire (9.6%).

Average rents have increased by more than 3.0% but less than CPI of 9.0% in Aberdeen and Shire (8.6%), Fife (7.8%), Forth Valley (7.3%), Highland and Islands (3.0%), whilst average rents have increased by less than 3.0% in Perth and Kinross (2.8%), West Lothian (2.3%) and Dumfries and Galloway (1.5%).

Figure B shows that when looking at the 2 bedroom property size category between 2010 and 2023, that average rents have increased above CPI inflation of 45.7% in Greater Glasgow (86.2%), Lothian (79.3%), East Dunbartonshire (54.4%), Forth Valley (51.9%), Fife (50.8%) and Dundee and Angus (49.9%).

Average rents have increased by more than 30% but below CPI inflation of 45.7% in Argyll and Bute (43.8%), South Lanarkshire (39.9%), West Dunbartonshire (38.6%), North Lanarkshire (36.7%), Renfrewshire / Inverclyde (34.9%), Scottish Borders (32.6%), Highland and Islands (31.5%) and West Lothian (30.5%), whilst average rents have increased by less than 30% in Perth and Kinross (27.1%), the Ayrshires (17.5%), Aberdeen and Shire (12.0%) and Dumfries and Galloway (11.8%).

Figure A: Change in average (mean) rents for 2 bedroom properties between 2022 and 2023

Figure B: Change in average (mean) rents for 2 bedroom properties between 2010 and 2023