PRIVATE sector rents in Glasgow have rocketed by almost 25% in the last five years.

Analysis of the market shows the average rent in the city is £763 with several would be tenants often chasing the same flats.

The analysis by CityLets based on figures from April to June this year show that most flats are let within a month of being advertised and one in four within one week.

Property agents said there is a growing demand for private rented flats.

The average rent for a one bedroom flat in Glasgow, has risen by 23.7% to £585, while a two bed flat has gone up by 22% to £768 per month.

The biggest rise was for four bed homes which rose by 39% to £1693 over the last five years

The report shows an obvious east west split in rent prices.

The most expensive area in the city for a one bedroom flat is G12 in the west end, including Hillhead, Dowanhill and Kelvinside where the average rent is £706, compared to the cheapest average which is £432 in G32, which includes, Tollcross, Shettleston and Carntyne.

In the report, Kenneth Urquhart of Aberdein Considine, said there have been high levels of applicants for every property.

He said: “There has been plenty of activity throughout the city, especially for two bedroom properties and this highlighted with the number of tenants outstripping supply will no doubt be the main reason for the increase we have seen in monthly rents.”

The highest average rent in Glasgow for two bed flats is in G1 in the city centre at £956 down to £549 in G32.