Aberdeen

Aberdeen continued its flat trajectory, after several years of falls, with positive growth in 4 bed properties at 5.4% suggestive of good demand for larger homes during the pandemic.

Market Overview - Q1 2021

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 £449 0.7% -21.8% -21.0% 48 -3 15% 40%
2 bed £639 -2.4% -21.5% -24.9% 59 3 8% 30%
3 bed £878 -6.7% -22.0% -26.9% 48 -19 13% 39%
4 bed £1,417 5.4% -15.1% -25.4% 55 13 7% 34%
All £699 -0.4% -19.2% -22.9% 54 0 11% 35%

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
2021 79.0      

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%
Chris Minchin

Chris Minchin - Winchesters

“Q1 of 2021 has shown a marked difference from the past year with a surge in people looking to move and 'trade up'. 1 bed with office space, 2 bedroom houses and properties with garden access have all done well. There has been an increase in students enquiring for entry mid to late Q2 and notifications from companies to expect an influx of staff requiring accommodation towards the end of Q2. Winchesters is confident that the Aberdeen market has underpinned and is moving in the right direction for growth.”

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