GLASGOW has experienced the biggest rise in room rent prices of any city in the UK, research has revealed.
The stark figures show Scotland’s biggest city has seen prices soar 25% from 2020-2021.
The figures, released by flatshare website SpareRoom, showed Scotland as a whole saw a rent increase of 8% from 2019-2021.
Northern Ireland meanwhile saw an increase in rent of 9% with the south west of England experiencing the same.
READ MORE: 'Dire outlook' for Scottish tenants as most Scots priced out of room rentals
London however is at its lowest rent levels for room rent in seven years. In 2021, the UK capital’s average rent price was £721 compared to £766 in 2019, pre-pandemic.
The COP26 climate conference in Glasgow is likely a major reason for the price increase.
During this time there was an increase in new ads in the Glasgow area, in particular ads for large properties on short lets with very high rent.
This also explains why Paisley, a town not far from Glasgow and home to the city’s airport, became the second most expensive city in the UK in 2021, with average rents at £673.
Matt Hutchinson, SpareRoom director, told The National: "Average rents in Scotland jumped over the past two years, driven largely by a surge in people trying to cash in on COP26 towards the end of 2021.
"That led to Glasgow seeing the highest increase in rents in the whole of the UK over the past two years and Paisley having the second most expensive rents outside London.
"The reality is that things will calm down in 2022, but Scotland's rental market has remained strong through the course of the pandemic, in line with most of the UK. The real loser from Covid has been London, which saw its lowest rents since 2015 last year.”
Hutchison also said: “We knew the pandemic had a dramatic impact on room rents in London, but we were shocked to see just how far they fell. 2021 saw the lowest rents in the capital since 2014.
"Yet our data shows a very different picture beyond the capital, with rents across other UK regions stable or on the up.
Percentage change in average (mean) rents for 2 bedroom properties between 2010 and 2020
"The last two years have had a huge impact on our lives and have led most of us to question what’s important, including where we want to live.
“We saw a huge surge in demand towards the end of 2021, as people started to return to work and restrictions eased.
READ MORE: Scots struggle to find rooms as demand in flat shares skyrockets
"Although Omicron has slowed momentum, early data suggests the capital is starting to regain its appeal.
"Time will tell how long it takes to regain its pre-pandemic status, but the signs are there that things are turning around.”
The news comes on top of a cost of living crisis in the UK, with inflation, food prices and house prices all rising while wages struggle to keep up.
Two-thirds of UK adults have seen their cost of living jump over the past month as energy bills soared and price rises filtered down to supermarket shelves.
Inflation is now at its highest levels in 30 years.
Meanwhile, house prices surged by 10.0% annually in November 2021, accelerating from 9.8% growth in October.
The average UK house price in November was £271,000, which was £25,000 higher than a year earlier, the Office for National Statistics (ONS) said.
In Scotland, the average house price hit a record level of £183,000 in November. Property values increased by 11.4% over the year, accelerating from 11.0% growth in October.
READ MORE: MSPs back plans for licensing scheme for Airbnb-style property lets
A Scottish Government spokesperson said: “We are determined to improve accessibility, affordability and standards for rented homes and we published a draft New Deal for Tenants before Christmas. It will give people who rent more secure, stable, affordable tenancies with improved standards of accommodation, increased rights and controls on rent.
“These statistics are unofficial, but we recognise that some communities face pressures from loss of private rented properties to the short-term lets market.
"That is why we have given local authorities powers to designate control areas in order to manage high numbers of short-term lets, and laid licensing legislation at the Scottish Parliament in November to regulate short term lets more effectively.
“The 2022-23 Budget also supports our commitment to deliver 110,000 affordable homes across Scotland by 2032, with at least 70% of these available for social rent.”
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