Rents in the private sector in Glasgow have rocketed by 14% in the last year according to the latest report.

CityLets survey of rents across Scotland found a shortage of properties and more students in the city leading to rents rising.

The average rents for the final three months of last year increased by 13.9% in Glasgow to £1111.

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The biggest rise was for two-bedroom properties where rents jumped by a whopping 17.4% to £1154 per month.

 One-bed homes also rose sharply by 11% to £820 pm.

The rise for three-bed homes was lower at under 4% costing £1497 and for four-bed homes there was a fall over the period of -8.8% to £2096.

CityLets found demand was pushing up rents and said legislation was leading to many small landlords selling up.

Colin Macmillan, of Glasgow Property Letting, said: “The final quarter of 2022 has been challenging across the board, to say the least.

“Whilst the reality of the Scottish Government’s sanctions and actions are filtering through the private rented sector, many traditional landlords have had enough and are exiting the market.

“With an oversubscription of university places, we find ourselves in a perfect storm.

“Fewer properties available with unprecedented demand equals hyper-inflated rents.

“We also find ourselves in a cost of living crisis at probably the worst time of the year, with energy costs rising as the temperature is falling, and subsequent worries that rent arrears may increase also.”

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Those involved in the rented sector said private landlords have become a “political football”.

Adrian Sangster of Aberdein Considine, said: “The chronic shortage of private rented sector properties available continues, whilst demand seems to be ever increasing.

“As a result, rents throughout Scotland continue to increase along with the stress levels of many people desperate to find a home.

“The political football that the Scottish private rented sector has become, was pumped up, kicked around and burst by politicians.

“It’s now landlords and tenants who are suffering for their failures. I hope the New Year’s resolution is written in Bute House is to apologise for the ideological policy failures which have created the mess, and to promise to take a common sense approach to sort it out.”