Aberdeen

Demand in Aberdeen is evident, in particular, through materially reduced TTLs for the larger 3 and 4 bed properties, down 21 and 27 days on last year. Whilst minimal rental growth was recorded for the city as a whole, at 0.1% , the reductions in TTL and anecdotal reports for good demand for quality properties suggest positive annual growth across more local markets in the future as oil prices rise whilst the granite city simultaneously positions itself as a future centre for renewable energy.

Market Overview - Q3 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 £439 -3.3% -18.7% -23.3% 45 2 17% 45%
2 bed £635 -0.6% -16.8% -21.8% 44 -7 11% 45%
3 bed £947 -2.5% -15.9% -17.4% 39 -21 19% 52%
4 bed £1,489 5.2% -4.4% -17.9% 33 -27 14% 52%
All £715 0.1% -13.8% -18.6% 43 -7 14% 46%

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 80.7 80.1
2021 79.0 79.9 80.8  

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

“Aberdeen has been a hive of activity in the past quarter with record viewing numbers and multiple applications on properties across the board. The uptake of HMO properties has been healthy with the much awaited return of universities to in person lectures. Aberdeen still lacks a supply of 3+ bedroom homes, with these properties not lasting long on the market. While the level of viewings is starting to fall, they are still higher than yearly averages while stock levels are continuing to fall. As always, landlords with a quality, modern property are being rewarded with sharp increases in rental from the average.”

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.