1. PROPERTY INVESTORS NETWORK NOVEMBER LETTING MARKET UPDATE

2. TABLE 1: Average (mean) monthly rents (£) for 1 Bedroom Properties in 2010 and 2014 (years to end-Sept), with Cumulative % change 20102014Cumulative Change Aberdeen and Shire52966425.5% Lothian52058211.9% Greater Glasgow4374769.0% Scotland4364728.4% Fife3794056.9% Highland and Islands4154405.9% Dundee and Angus3513695.2% East Dunbartonshire4504725.0% West Lothian4284484.7% Argyll and Bute3823953.5% Perth and Kinross3773893.0% Dumfries and Galloway3593692.9% Renfrewshire / Inverclyde3743780.8% North Lanarkshire3733750.5% Scottish Borders3363370.3% Forth Valley387 0.2% South Lanarkshire382380-0.8% West Dunbartonshire397390-1.7% Ayrshires375365-2.8%

3. 1 Bedroom Properties Average Rent Changes 2010-2014

4. 2 Bedroom Properties - Average (mean) Monthly Rents (£): Cumulative Changes 2010 to 2014, by Broad Rental Market Area 20102014 Cumulative ChangeCumulative CPI Aberdeen and Shire64389840%11.7% Lothian66577917%11.7% Scotland53659611%11.7% Greater Glasgow56462611%11.7% Fife46451010%11.7% Highland and Islands5035326%11.7% Dundee and Angus4975184%11.7% East Dunbartonshire5816044%11.7% West Lothian5275433%11.7% Forth Valley4925063%11.7% South Lanarkshire4814943%11.7% Perth and Kinross5065203%11.7% Renfrewshire / Inverclyde4734832%11.7% North Lanarkshire4554642%11.7% Dumfries and Galloway4354422%11.7% Scottish Borders4424441%11.7% Ayrshires464461-1%11.7% Argyll and Bute503495-2%11.7% West Dunbartonshire492479-3%11.7%

5. 2 Bed Properties Average Rent Change from 2010 to 2014

6. TABLE 5: Average (mean) monthly rents (£) for 3 Bedroom Properties in 2010 and 2014 (years to end-Sept), with Cumulative % change 20102014Cumulative Change Aberdeen and Shire7441,08946.4% Lothian9181,06616.1% Greater Glasgow7287969.3% Fife5636098.1% Scotland6797246.6% East Dunbartonshire7507996.5% Dundee and Angus6336685.6% Highland and Islands5956255.1% West Lothian6166373.4% Scottish Borders5155282.6% Dumfries and Galloway5005122.4% Ayrshires5565692.3% Renfrewshire / Inverclyde6126221.7% North Lanarkshire5495510.4% Argyll and Bute6386400.3% West Dunbartonshire591 -0.1% Forth Valley643637-0.9% Perth and Kinross647639-1.2% South Lanarkshire627617-1.6%

7. 3 Bedroom Property Average Rent Changes 2010-2014

8. TABLE 7: Average (mean) monthly rents (£) for 4 Bedroom Properties in 2010 and 2014 (years to end-Sept), with Cumulative % change 20102014Cumulative Change Aberdeen and Shire9441,56565.8% Dundee and Angus81196118.5% Renfrewshire / Inverclyde83497517.0% Greater Glasgow1,0671,21113.5% Scotland9591,08313.0% East Dunbartonshire1,1351,28012.7% Fife77387112.6% Ayrshires75884010.8% Lothian1,2911,42810.7% West Lothian8348896.6% Perth and Kinross8589136.4% South Lanarkshire9249775.7% Scottish Borders6907275.4% Dumfries and Galloway6206372.7% Forth Valley8578792.5% North Lanarkshire7767922.0% Highland and Islands7517621.5% Argyll and Bute924909-1.6% West Dunbartonshire821796-3.1%

9. 4 Bedroom Property Average Rent Changes 2010-2014