Cost of renting home in north-east falls again
The average cost of renting a home in the north-east has fallen for the third year in a row, according to new figures.
Aberdeen and Aberdeenshire witnessed a decrease in costs of 9.6%, with the fall having been linked to a downturn in demand following the slump in the North Sea oil and gas sector. However, across Scotland, average rents for the most common size of property have gone up by more than 4% in a year – the highest annual increase since 2010.
The figures show the average monthly cost of privately renting a twobedroom home in Scotland now stands at £643, up from £616 in 2016. That amounts to an increase of 4.4%, higher than the 3% rise in the UK Consumer Price Index in the year to September.
The data, published by the Scottish Government, highlights that, between 2016 and 2017, 15 out of 18 areas of Scotland saw increases in average rent levels for two-bedroom private rental properties.
By September this year, Lothian had the highest average monthly rents at £888. Other areas with high rents included Greater Glasgow at £745 and Aberdeen and Shire at £682.