Negative annual growth in Aberdeen eased further to minus 11.2% at £768 per month in Q1 2017 with Time To Lets (TTL) virtually unchanged on last year at 54 days on average. With 3 consecutive improvements in annualised growth, current trajectory should see rents fully level off by the end of the year. Whilst this is good news for Aberdeen landlords, it is noteworthy that it is almost certain it will leave the granite city a less expensive place to rent in the PRS than Glasgow, a traditionally social rent market.
“Confidence in the market is building as talk of increased activity in the Aberdeen area circulates. The total property stock is not going down yet so rents are still very flexible, but sensibly priced, good quality properties in popular areas can move quickly. Talk of Brexit, ‘Scoxit’ and general political uncertainty doesn’t help, but in the Granite City its oil price stability that is key to future investment in the area and ultimately drives property demand.”
I am a Tenant Landlord
