Statistics on annual average private sector rents to the end of
September 2024 have been released today.
These statistics are based predominantly on advertised rents and
so reflect rents that landlords are charging when their
properties become available for rent at the point of tenant
turnover or when properties are new to the rental market. This
means rents presented here do not reflect rental restrictions
arising from the Cost of Living (Tenant Protection) (Scotland)
Act 2022 nor the Rent Adjudication (Temporary Modifications)
(Scotland) Regulations 2024 (legislation.gov.uk) which only
affect existing tenants.
Monthly Scottish average rents grew for all property sizes in the
latest year:
- +9.6% or +£62 for 1-bedroom properties, reaching £710 per
month.
- +6.2% or +£52 for 2-bedroom properties, reaching £893 per
month.
- +10.7% or +£110 for 3-bedroom properties, reaching £1,136 per
month.
- +8.3% or +£137 for 4-bedroom properties, reaching £1,793 per
month.
- +8.3% or +£41 for 1-bedroom shared properties, reaching £530
per month.
For the most common size of property (two bedrooms) rents
increased in 17 out of 18 Broad Rental Market Areas of Scotland
(areas related to local housing allowance) compared with the
previous year. In all those 17 areas, rent increases exceeded the
average 12 month UK CPI inflation rate of 3.0%.
The highest increases in average two bed rents were seen in
Lothian (+14.0% or £167 per month). Greater Glasgow was the only
area to see a fall in average two bed rents. In Greater Glasgow
average two bed rents decreased by-2.4% (or £25 per month). This
2.4% decrease in Greater Glasgow followed a 22.3% increase in
2023.
Lothian had the highest average monthly two bedroom rent (£1,358)
in year to end September 2024. Dumfries and Galloway had the
having the lowest average monthly two bedroom rent (£505).
Since 2010, six areas have seen average rent increases above the
average rate of inflation for all property sizes. These were
Dundee and Angus, East Dunbartonshire, Fife, Forth Valley,
Greater Glasgow and Lothian. Every area has at least one property
size where the increases in average rents have exceeded the rate
of inflation between 2010 and 2024 (50.0%).
Background
These statistics refer to the average 12 month UK Consumer Price
Index rate of inflation, which was 3.0% across the year to end
September 2024, and which has been 50.0% between the year to end
September 2010 and the year to end September 2024.
The full statistical publication (link), based
predominantly on advertised rent data, includes main findings on
rent levels for one bedroom, two bedroom, three bedroom, four
bedroom, and one bedroom shared properties. It presents
information on rent levels for these property sizes across each
of the 18 broad rental market areas in Scotland and contains
information on average rents as well as rents at the higher and
lower end of the market.
The publication uses data from the Rent Service Scotland market
evidence database, which is collected for the purposes of
determining annual Local Housing Allowance levels.
Official statistics are produced in accordance with the Code of Practice for
Statistics.
