Rents in Aberdeen continue to level off, down 6.6% (YOY), and represent a vast improvement from the minus 20% or more previously recorded during 2016. Property to rent in Aberdeen typically now stands at £774 per month, just £2 above national average whereas it was £1 below last quarter. Also as per last quarter, 4 bed properties fared best down just 0.8% on last year. The average property currently takes 49 days to let, up 5 days on the same period 2016.
“Q3 has been a very busy period here in Aberdeen albeit at a new price level for the city. We continue to see stabilisation in the market in terms of price and time to let. We have seen some significant improvement with some rentals moving within a week of advertising however others continue to be closer to the two month mark. There has been positive movement with larger properties this quarter and the student market was buoyant this summer. There is still a greater demand than supply of the right kind of modern two bed with private parking in the city centre. It will be interesting to see how this trend continues as we approach the close of the year.”
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