Aberdeen stands out amongst Scotland’s key cities for its continued reduction of supply over the quarter which is reflected to rising rents, up 3.4% YOY to £723, and a fall of TTL by 17 days to average 37. Whilst this rise is more muted, it still however marks the first significant annual rise in the Granite City for a number of years and stock and TTL indicators suggest this trajectory will continue into 2022.
“Q1 in Aberdeen has been very busy, with January being the busiest month experienced in the past five years. Across all three months, levels of enquiries and leases have been significantly higher than the average for this time of the year. We are seeing an increase in all tenant profiles but mainly corporate and international students. Stock levels are reducing significantly, especially in the 2 bedroom property supply. Aberdeen remains significantly under-provisioned for 3 bedroom+ houses for families in most areas of the city and outlying areas, with prices here increasing significantly.”
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