Dundee

Eilidh Finlayson

Eilidh Finlayson - Finlayson Gore

“Q1 of 2023 saw an unprecedented upsurge in the asking prices for rents in Dundee, directly influenced by a continued demand for good quality property outstripping available market supply. Additionally tenant contact for not only advertised properties but speculative enquiries for any property becoming available in the coming months increased. Competition between tenants is fierce and completed applications are being received ahead of viewings in an attempt by interested parties to secure tenancies ahead of others. We attribute this to existing tenants staying on in their rental properties and their reluctance to move on in an uncertain renters market.”

Market Overview - Q1 2023

BedsAverage
Rent
Rent Change
1yr
Rent Change
5yrs
Rent Change
10yrs
Av. TTL
(days)
TTL Change
YoY
Let within
a week
Let within
a month
1 bed £518 13.1% 24.8% 43.1% 15 1 46% 85%
2 bed £839 18.8% 44.9% 51.4% 19 3 37% 78%
3 bed £1,076 14.3% 32.3% 41.8% 24 3 16% 72%
All £835 15.7% 36.0% 46.0% 20 4 35% 77%

Average Rent (pcm) by Number of Bedrooms

Average Time To Let (TTL) by Number of Bedrooms

Rental Index (base Q1 2010)

YearQ1Q2Q3Q4
2010 100.0 94.3 94.3 93.4
2011 102.8 95.5 91.8 86.1
2012 96.2 93.2 94.6 91.5
2013 99.3 98.1 96.4 91.7
2014 103.3 97.4 98.4 94.6
2015 101.9 103.8 99.7 99.0
2016 107.6 104.0 102.4 103.6
2017 105.9 104.7 101.4 95.8
2018 106.6 107.3 104.9 100.3
2019 107.6 106.9 109.9 104.2
2020 109.4 116.0 109.9 108.5
2021 111.5 115.5 122.7 117.2
2022 125.3 133.2 137.8 148.1
2023 145.0      

Market Composition

Yield by Popular Postcode (Flats):

Postcode20172018201920202021
DD1 7.70% 6.70% 6.70% 6.70% 7.1%
DD2 6.40% 6.60% 6.20% 6.30% 6.3%
DD3 7.80% 7.10% 7.10% 7.30% 7.1%
DD4 8.70% 7.40% 7.20% 7.00% 7.0%
DD5 5.00% 4.50% 4.50% 4.50% 4.5%
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