Rents in Aberdeen continued to level off, now down just 5.2% year on year (YOY) and a far cry from the minus 20% previously recorded a year ago. Property to rent in Aberdeen typically now stands at £788 per month, just £1 below National average. Interestingly, 4 bed properties recorded a 4.5% gain on last year, the first recorded rise for any property type in Aberdeen for 9 quarters. The average property currently takes 49 days to let, up 2 days on the same period 2016.
“Stonehouse have seen an encouraging first half to the year with the appetite for people renting property continuing to rise. 1 and 2 bedroom properties, in particular new builds, are the most sought after and as we head into the summer months the rental demand should continue to stay strong. There is also evidence to suggest that the decrease in rental levels is now beginning to stabilise. Stock levels in Aberdeen remain high, however, generally a well presented and fairly priced property will let quickly. A recent report from the Bank of Scotland has highlighted rising confidence in the North Sea oil and gas sector and slowing job cuts which is positive news all round.”
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