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Dundee

Dundee rentals continued to post positive annual growth in Q3 2018, up 3.4% to £604. Larger 3 and 4 bed properties fared based at 11% and 7.9% respectively. Properties are letting quicker than last year by 4 days at 47 days on average.

Market Overview - Q3 2018

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	£406	3.3%	6.0%	7.7%	48	-1	12%	48%
2 bed	£574	0.0%	5.1%	6.1%	45	-7	15%	48%
3 bed	£796	11.0%	14.0%	10.9%	48	-7	18%	50%
4 bed	£1,078	7.9%	16.0%	10.6%	46	1	19%	44%
Total	£604	3.4%	8.8%	19.6%	47	-4	15%	48%

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 2010)

Year	Q1	Q2	Q3	Q4
2010	100.0	94.3	94.3	93.4
2011	102.8	95.5	91.8	86.1
2012	96.2	93.2	94.6	91.5
2013	99.3	98.1	96.4	91.7
2014	103.3	97.4	98.4	94.6
2015	101.9	103.8	99.7	99.0
2016	107.6	104.0	102.4	103.6
2017	105.9	104.7	101.4	95.8
2018	106.6	107.3	104.9

Market Composition

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Yield by Popular Postcode (Flats):

Postcode	2017	2018	2019	2020	2021
DD1	7.70%	6.70%	6.70%	6.70%	7.1%
DD2	6.40%	6.60%	6.20%	6.30%	6.3%
DD3	7.80%	7.10%	7.10%	7.30%	7.1%
DD4	8.70%	7.40%	7.20%	7.00%	7.0%
DD5	5.00%	4.50%	4.50%	4.50%	4.5%

Robert Murray - Lickley Proctor Lettings

“Lickley Proctor Lettings have been extremely busy this third quarter. We have experienced a significant increase in demand from prospective tenants to the extent it has been outstripping the supply. This is all good news for the private rented sector in Dundee and encouraging for landlords who are considering investing in the city.”

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