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Dundee

Dundee posted strong annual growth at 4.8% and for the first time the gap between the two cities is beginning to suggest possible convergence. The average property to rent in Dundee now stands at £633 per month and rents in 45 days. The rental data for the city is consistent with the resurgence of Scotland’s 4th largest city and its considerable positive economic and redevelopment.

Market Overview - Q3 2019

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	£411	1.2%	9.0%	5.7%	45	-3	16%	51%
2 bed	£611	6.4%	11.3%	16.2%	44	-1	15%	48%
3 bed	£834	4.8%	11.5%	36.7%	53	5	6%	39%
4 bed	£1,168	8.3%	13.6%	27.9%	41	-5	7%	57%
Total	£633	4.8%	11.6%	20.8%	45	-2	14%	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	100.3
2019	107.6	106.9	109.9

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

“As far as Lickley Proctor Lettings can determine the rental market in Dundee continues to show encouraging signs. Market rentals sought are being achieved and shorter periods are being experienced in the time to let of the majority of our properties. Rental levels are showing marginal increases. All in all, we consider Dundee is continuing to perform steadily in the residential rental property market.”

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Flats to rent in Dundee Houses to rent in Dundee