Dundee

Dundee posted positive annual growth throughout 2018, increasing steadily throughout the year from 0.7% at Q1 to 4.7% at Q4 and accompanied by decreasing TTLs. Together these metrics suggest the underlying dynamic in Dundee is presently weighted towards demand. As with other major urban markets, increases were led by the larger 3 and 4 bed properties. The average property to rent in Dundee is now £578 per month with a significant 66% of properties let within a month.

Market Overview - Q4 2018

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 £408 3.3% 6.8% -4.4% 25 -11 24% 65%
2 bed £571 1.4% 6.7% 2.7% 25 -24 24% 67%
3 bed £804 12.3% 19.8% 15.7% 32 -6 9% 64%
4 bed £950 4.1% 7.5% 3.7% 20 -36 17% 67%
Total £578 4.7% 9.5% 12.5% 25 -20 22% 66%

Average Rent (pcm) by Number of Bedrooms

Average Time To Let (TTL) by Number of Bedrooms

Rental Index (base Q1 2010)

YearQ1Q2Q3Q4
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 106.6 107.3 104.9 100.3

Market Composition

Yield by Popular Postcode (Flats):

Postcode20132014201520162017
DD1 6.7% 7.0% 7.8% 7.8% 7.7%
DD2 6.3% 6.2% 6.2% 6.6% 6.4%
DD3 7.4% 6.3% 7.1% 7.5% 7.8%
DD4 8.1% 8.5% 8.0% 8.1% 8.7%
DD5 5.1% 4.3% 4.8% 5.0% 5.0%
Robert Murray

Robert Murray - Lickley Proctor Lettings

“Lickley Proctor Lettings have continued to see a constant demand for rented accommodation over the last quarter with rental levels being maintained. Better quality properties, as always, renting sooner. We find tenants are taking much more care in choosing a property, therefore a sensible level of rent being sought plays an important part in the equation.”

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