With two meaningful consecutive quarterly rises, there is clear signal that the Aberdeen rental market is now back to black which will be a relief to landlords after a protracted period of rent declines and stagnation. Average available stock levels have continued to fall and, coupled with strong demand, collectively sent rents up and TTLs down. The average property to rent in Aberdeen stands at £738 per month, up 4.4% YOY, and average TTL at 27 days, down a significant 22 days YOY. Whilst the expected coming recession could see oil prices fall, they will likely remain substantively above the levels seen during the pandemic.
“Stock decreasing, rents increasing! Oil and gas companies are making a fast return to the Granite City. We can see the market of high end properties being let in very short periods of time. The West End, Ferryhill, Kepplestone, Braeside, Cults, Bieldside and Milltimber are areas in very high demand. High specs properties in Bride of Don, Danestone, Kingswells and Westhill are also attracting a great number of tenants. This has led to stock levels to go down by nearly 50% when compared to the same period last year. In turn, rents are definitely on the increase. This trend should continue for the remainder of the year and beyond.”
I am a Tenant Landlord
