Aberdeen

Karolina Robertson

Karolina Robertson - Aberdein Considine

“Q1 of 2020 has started very promising, there was healthy level of interest from private tenants and relocation companies, due to the oil and gas sector emerging from a 2015 downturn. However, Covid-19 and the lockdown had an adverse effect on the market, leading to a number of tenancies falling through and market gradually declining. Since then, we have noticed an increase in tenant online activity, especially from NHS staff and keyworkers. Some tenants make plans for after the lockdown. It remains uncertain how Covid-19 will affect prospects in the months ahead, however, the impact will likely be a legacy felt for a long time.”

Market Overview - Q1 2020

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 £446 -3.9% -35.4% -19.8% 51 3 9% 35%
2 bed £655 0.8% -37.8% -17.7% 56 -2 7% 33%
3 bed £941 4.2% -30.7% -19.7% 67 9 6% 25%
4 bed £1,345 -3.7% -35.4% -17.1% 42 -25 14% 47%
All £702 -1.1% -35.5% -18.2% 54 0 8% 34%

Average Rent (pcm) by Number of Bedrooms

Average Time To Let (TTL) by Number of Bedrooms

Rental Index (base Q1 2008)

YearQ1Q2Q3Q4
2008 100.0 99.5 100.7 98.8
2009 97.1 94.6 93.8 96.8
2010 96.9 96.5 96.3 98.3
2011 102.5 97.4 99.2 101.0
2012 103.2 101.8 101.6 107.3
2013 108.6 109.3 113.2 116.2
2014 120.5 122.5 120.6 125.4
2015 123.1 117.9 112.4 105.5
2016 97.7 93.9 93.7 89.2
2017 86.8 89.0 87.5 85.3
2018 83.2 83.6 84.2 80.8
2019 80.2 82.9 80.9 80.0
2020 79.3      

Market Composition

Yield by Popular Postcode (Flats):

Postcode20162017201820192020
AB10 4.90% 5.20% 5.40% 5.20% 5.30%
AB11 6.10% 5.60% 5.70% 6.00% 6.20%
AB15 5.10% 5.10% 4.90% 5.20% 5.20%
AB24 7.40% 6.60% 6.70% 6.40% 7.30%
AB25 5.50% 5.50% 5.30% 4.90% 5.60%
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