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Aberdeen

Aberdeen saw rents climb by a modest 1.6% YOY driven by growth in the larger 3 and 4 bed properties and, as per Edinburgh, tempered by falls in 1 and 2 bed properties. 4 bed properties posted significant 12.4% YOY growth with a dramatically reduced TTL, down 24 days, underlying the demand for larger family homes.

Market Overview - Q2 2021

Beds	Average 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	£437	-1.4%	-20.0%	-21.4%	50	0	10%	37%
2 bed	£626	-1.1%	-20.5%	-21.8%	51	3	12%	37%
3 bed	£971	2.3%	-16.4%	-14.3%	48	-10	8%	40%
4 bed	£1,399	12.4%	-6.4%	-15.8%	30	-24	24%	50%
All	£707	1.6%	-14.9%	-18.0%	49	-1	11%	38%

Average Rent (pcm) by Number of Bedrooms

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Average Time To Let (TTL) by Number of Bedrooms

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Rental Index (base Q1 2008)

Year	Q1	Q2	Q3	Q4
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	79.9

Market Composition

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Yield by Popular Postcode (Flats):

Postcode	2017	2018	2019	2020	2021
AB10	5.20%	5.40%	5.20%	5.30%	5.3%
AB11	5.60%	5.70%	6.00%	6.20%	6.1%
AB15	5.10%	4.90%	5.20%	5.20%	5.4%
AB24	6.60%	6.70%	6.40%	7.30%	7.4%
AB25	5.50%	5.30%	4.90%	5.60%	5.8%

Adrian Sangster - Aberdein Considine

“Finding a family sized home for rent in north east Scotland remains a challenge for many. Due to low stock and ever increasing demand, people are prepared to offer rentals higher than the asking price to secure properties. I have not witnessed this sort of demand since the height of the oil boom. Reports of BP promising £10 billion of investment to make Aberdeen its global hub for offshore wind is encouraging news for landlords but more properties will be required to meet the inevitable demand.”

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