Aberdeen

The Aberdeen rental market has been stable in Q4 2020 recording a minor annual increase of 0.1% year on year (YOY), the first rise since Q1 2015. The average property to lease in Aberdeen sits at £709 per month giving landlords cause for optimism at the end of a difficult number of years.

Market Overview - Q4 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 £465 1.8% -24.6% -19.1% 44 3 9% 37%
2 bed £652 0.8% -26.5% -21.0% 49 -6 9% 36%
3 bed £894 -2.7% -26.3% -18.3% 48 -10 8% 37%
4 bed £1,440 3.7% -15.4% -15.6% 61 0 5% 21%
All £709 0.1% -24.1% -18.5% 48 -3 9% 36%

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 78.6 80.6 80.1

Market Composition

Yield by Popular Postcode (Flats):

Postcode20132014201520162017
AB10 5.8% 5.4% 5.2% 4.9% 5.2%
AB11 6.0% 6.6% 6.3% 6.1% 5.6%
AB15 5.8% 5.7% 4.8% 5.1% 5.1%
AB24 7.4% 7.1% 7.0% 7.4% 6.6%
AB25 6.2% 5.9% 6.2% 5.5% 5.5%
Scott Morrison

Scott Morrison - Northwood Aberdeen

“During Q4 we have witnessed a higher than normal volume of tenants giving notice to vacate especially in December. As universities continue with their blended learning models rather than introducing more in-class learning as previously planned, this is one of the main contributing factors to tenants vacating earlier than anticipated, with many student rental properties now becoming surplus to requirement. Constantly changing tenant circumstances have also meant that some properties are back on the market soon after being let out. We watch with much scrutiny to see how Brexit and COVID-19 further impact on tenants’ circumstances and the PRS in Aberdeen City & Shire.”

Like most sites, Citylets uses cookies mainly to enhance user experience. By using our site we'll assume you're ok with our cookies policy.