Main Findings for 4 Bedroom Properties
From 2015 to 2016, 12 out of 18 areas have seen increases in rent for 4 bedroom properties. The increases ranged from 16.1% in Forth Valley, 9.3% in Greater Glasgow, and 5.2% in West Dunbartonshire, to 0.5% in Dundee and Angus and 0.1% in Lothian. Six areas saw decreases, ranging from -0.2% in Dumfries and Galloway and -0.9% in Scottish Borders, to -8.0% in North Lanarkshire and -13.5% in Aberdeen and Shire. See Chart 8 and Table 7 below.
The regional trends combine to show a 0.7% decrease for 4 bedroom properties at the Scotland level.
Over the 2010 to 2016 period, the Aberdeen and Shire area of the country has seen the highest increase in private rents for 4 bedroom properties, with average monthly rents rising by 36.8% (cumulative increase over 6 years) despite rents falling between 2015 and 2016. Average rents in Forth Valley have risen by 22.7%, whilst average rents in Greater Glasgow have increased by 21.8% and Renfrewshire / Inverclyde by 21.7%. Dundee and Angus and Ayrshires saw similar percentage increases in average rents (19.9% and 19.7% respectively).
For the other areas of Scotland, cumulative increases have ranged from 18.7% (Perth and Kinross) to 4.1% (Dumfries and Galloway). No areas of Scotland have seen decreases in average rent for 4 bedroom properties between 2010 and 2016.
These regional trends combine to show a 13.7% cumulative increase from 2010 to 2016 for 4 bedroom properties at the Scotland level.
Figures on changes to rents for 4 bedroom properties over the period from 2010 to 2016 should be considered in the context of the cumulative increase in the UK Consumer Price Index of 12.6 % from Sept-10 to Sept-16. For example over the 4 year period, average rents for 4 bedroom properties in 9 out of 18 areas (Aberdeen and Shire, Forth Valley, Greater Glasgow, Renfrewshire / Inverclyde, Dundee and Angus, Ayrshires, Perth and Kinross, Lothian, and Fife) have risen faster than the consumer price index, whilst changes in average rents for 4 bedroom properties in the other nine areas of the country have been below the rise in the consumer price index.
CHART 8: Cumulative % Change in Average (mean) Rents from
2010 to 2016 (years to end-Sept), by Broad Rental Market Area -
TABLE 7: 4 Bedroom Properties - Average (mean) Monthly Rents (£): Cumulative Changes 2010 to 2016, by Broad Rental Market Area
|2010||2015||2016||2010 to 2016 change||2015 to 2016 change|
|Aberdeen and Shire||944||1,493||1,291||36.8%||-13.5%|
|Renfrewshire / Inverclyde||834||977||1,015||21.7%||3.8%|
|Dundee and Angus||811||968||973||19.9%||0.5%|
|Perth and Kinross||858||992||1,018||18.7%||2.6%|
|Highland and Islands||751||814||822||9.6%||1.0%|
|Argyll and Bute||924||947||989||7.0%||4.4%|
|Dumfries and Galloway||620||647||646||4.1%||-0.2%|
See Reference Tables (Tables 12 to 18) for a more detailed breakdown of quartile and average rents for each year.
For the year to end-September 2016, Lothian had the highest average monthly rents for 4 bedroom properties across Scotland (£1,512). Other areas with higher rents included Greater Glasgow (£1,299), Aberdeen and Shire (£1,291) and East Dunbartonshire (£1,277). Areas with the lowest average rents included Highlands and Islands (£822), Scottish Borders (£740), and Dumfries and Galloway (£646). See Chart 9 and Table 8 below.
CHART 9: Average (mean) Monthly Rents 2016 (year to
end-Sept), by Broad Rental Market Area - 4-Bedroom
TABLE 8: Average (mean) monthly rents for 4 Bedroom Properties in 2016 (year to end-Sept)
|4 Bedroom Properties||£ monthly|
|Aberdeen and Shire||1,291|
|Perth and Kinross||1,018|
|Renfrewshire / Inverclyde||1,015|
|Argyll and Bute||989|
|Dundee and Angus||973|
|Highland and Islands||822|
|Dumfries and Galloway||646|