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.
“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.”
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