The cost of renting in Fife, Dundee and Angus has soared at a higher rate than the rest of Scotland, latest figures show.
Dundee and Angus saw private rent rates rise above the inflationary average in one, two, three and four bedroom properties.
The statistics, provided by the Scottish Government, are based predominantly on advertised rents.
So they reflect rents 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.
Rent increases
The statistics break down the rent prices according to the number of bedrooms in a property.
- The average cost of a one bedroom flat per month rose by 9.6% across Scotland between 2023 and 2024 to £710 a month. But in Dundee and Angus, the increase was 13.4% to £537 per month. In Fife there was a 9.9% rise to £575, in Perth and Kinross the increase was below the national average at 5.7% to £499.
- Two-bedroom properties across Scotland increased by an average of 6.2% across Scotland in the last 12 months to £893 per month. Dundee and Angus saw a 9.1% increase to £813. In Fife the increase was 5.9% to £741 and in Perth and Kinross there was a 3.8% rise to £668.
- Three-bedroom homes in Scotland rose by 10.7% to £1,136 a month. Dundee and Angus homes increased by 8.5% to £1,108. In Fife the rise was 10.4% to £1,010 and in Perth and Kinross prices stayed the same, with an average rent of £908.
- Four-bedroom homes saw an 8.3% increase nationally in the last year to £1,793 per month. Dundee and Angus saw an above inflation increase of 11% to an average monthly cost of £1,495. In Fife the increase was also 11% to £1,638. In Perth and Kinross there was a 4% rise to £1,495.
Demand for rental properties soaring
Letting agent Struan Baptie explained how a continuing rise in demand for private rented homes, particularly in Dundee and Angus, can explain why prices have increased.
“It has risen from a relatively low base, particularly if you look back as far as 2010,” he said.
“Before the pandemic, rent prices were lower and rose at a lower rate than in Aberdeen, Glasgow and Edinburgh. This is in part due to a lack of quality rental properties here.
“But there is now much more demand for rental properties in Dundee and Angus, we have noticed.
“From around July 2020, the demand for housing stock here has gone wild.
“At Struan Baptie, we don’t manage HMO properties, which are in demand among students. But the demand for private rents, in one, two, three and four bedroom properties has just soared.
“It is still a strong market in Dundee and Angus, it might have peaked and then tailed off from around September last year, but rent prices are still high.
“And there are still thousands of people looking for properties.”
Increases since 2010
In Fife the cost of renting a four-bedroom property has risen by more than 110% since 2010, with the national average rate of increase sitting at 50% — the biggest leap nationally.
In Dundee and Angus there have been rises of above 50% in the last 14 years across all sizes of properties.
Conversation