Dundee

Dundee’s rental market also remained steady with a continued reduction in TTL as noted in the previous quarter, again down 6 days to 30 days on average and likely signalling strong positive rental growth post lockdown.

Market Overview - Q1 2021

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 £438 3.8% 8.1% 9.0% 29 -10 27% 63%
2 bed £611 7.0% 3.4% 6.8% 31 -11 16% 57%
3 bed £924 0.7% 13.7% 21.3% 28 0 25% 56%
All £642 1.9% 3.5% 8.4% 30 -6 20% 59%

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
2019 107.6 106.9 109.9 104.2
2020 109.4 116.0 109.9 108.5
2021 111.5      

Market Composition

Yield by Popular Postcode (Flats):

Postcode20162017201820192020
DD1 7.80% 7.70% 6.70% 6.70% 6.70%
DD2 6.60% 6.40% 6.60% 6.20% 6.30%
DD3 7.50% 7.80% 7.10% 7.10% 7.30%
DD4 8.10% 8.70% 7.40% 7.20% 7.00%
DD5 5.00% 5.00% 4.50% 4.50% 4.50%
Alasdair Bain

Alasdair Bain - Tay Letting

“Q1 for 2021 understandably began with a level of uncertainty for both landlords and tenants. Despite this, the Dundee market has remained strong for us. We are seeing short void periods and have maintained a high level of occupancy across our portfolio. Now that the vaccine is being rolled out and moves towards easing the restrictions are being made, we are seeing a surge of enquiries and property viewings.”

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