Scots private rents rise 14%; Lothian most expensive

Average rents for 2-bedroom properties in the private rented sector increased in Scotland by 14.3% in the year to September 2023 to reach an average of £841 per month, up £105 per month compared with the previous year.

Statistics on annual average private sector rents have been released in a report by Scotland’s Chief Statistician.

“Average 2 bedroom rents increased in all 18 Broad Rental Market Areas of Scotland compared with the previous year,” said the report.

“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) for South Lanarkshire up to 22.3% (or £191 per month) in Greater Glasgow.

“Whilst 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).

“In the latest year to end September 2023, Lothian had the highest average monthly 2 bedroom rent (£1,192), with Dumfries and Galloway having the lowest (£487).”

The report said the statistics are based predominantly on advertised rents and 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.

As such these rents will not reflect the Cost of Living (Tenants Protection) (Scotland) Act 2022 rent cap restrictions from September 2022, which only apply to existing tenants.

Average rents increased in the latest year across all property size categories, with increases of:

  • 11.7% or £68 per month for 1-bedroom properties, reaching £648 per month
  • 14.3% or £105 per month for 2-bedroom properties, reaching £841 per month
  • 13.3% or £121 per month for 3-bedroom properties, reaching £1,026 per month
  • 13.4% or £196 per month for 4-bedroom properties, reaching £1,656 per month
  • 15.1% or £64 per month for 1 bedroom shared properties, reaching £490 per month.

The report said that Lothian and Greater Glasgow have seen increases in average rents above the rate of inflation between 2010 and 2023 across all property sizes.

Dundee and Angus, East Dunbartonshire, Fife and Forth Valley have seen increases in average rents above the rate of inflation for all property sizes except 1 bedroom properties.

Argyll and Bute, the Ayrshires and Dumfries and Galloway have seen increases in average rents of less than the rate of inflation across all property sizes between 2010 and 2023.