Scotland boasts widest rental price gap in Britain, study finds
Benham and Reeves analysis compared average monthly rents within each region, measuring the difference between the most and least expensive markets.
Scotland has the widest proportional gap between its most and least expensive rental markets in Britain, according to research from Benham and Reeves.
The analysis compared average monthly rents within each region, measuring the difference between the most and least expensive markets in both monetary and percentage terms.
In Scotland, the average monthly rent in Lothian stood at £1,415, compared with £554 in Dumfries and Galloway.
This represented a difference of £861 per month, with rents in Lothian 155.4% higher.
The South West recorded the second-largest proportional divide, with average rents of £1,881 in Bath and North East Somerset compared with £788 in Torridge.
The £1,093 monthly difference meant rents in Bath and North East Somerset were 138.7% higher.
London ranked third on a proportional basis but recorded the largest difference in monetary terms.
Average monthly rents in Kensington and Chelsea stood at £3,629, compared with £1,534 in Bexley, representing a gap of £2,095 per month or £25,140 a year.
Kensington and Chelsea rents were 136.6% higher than those in Bexley.
The proportional difference also exceeded 100% in the East of England, North West, North East and South East.
The East Midlands recorded the smallest regional divide, although average rents in West Northamptonshire were still 54.2% higher than in East Lindsey.
Marc von Grundherr, director of Benham and Reeves, said: “London is, of course, in a league of its own when it comes to the actual pounds and pence paid by tenants, and a difference of more than £2,000 per month between the capital’s most and least expensive rental markets demonstrates just how diverse London itself can be.
“However, what is particularly interesting is that London doesn’t have the greatest proportional divide. Scotland takes that title, while the South West also ranks ahead of the capital.
“It demonstrates why broad regional rental averages only ever tell part of the story.
“Tenant demand, available rental stock, employment opportunities, transport links, lifestyle and the type and quality of homes available can vary enormously from one location to the next, and rental values vary accordingly.”
Von Grundherr added: “For landlords, understanding these local market dynamics is fundamental.
“The highest headline rent doesn’t necessarily equate to the strongest investment opportunity and what really matters is the relationship between the price paid for a property, the rent it can command and, most importantly, the depth and consistency of tenant demand.
“This is why successful landlords tend to take a far more granular view of the market, focusing on the fundamentals of an individual area rather than being distracted by broad regional averages.”
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