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Aberdeen

Q1 2018 saw rents in Aberdeen fall below national average for the first time. Whilst the market continues to level off, the average property to rent in Aberdeen now stands at £736 per month, down 4.2% YOY, some £44 below national average which saw a sharp uptick this quarter driven by strong quarterly gains in both Edinburgh and Dundee. The average property takes almost 2 months to let, a far cry from the 13 days seen in 2013 just 5 years ago.

Market Overview - Q1 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	£477	-4.2%	-21.0%	-13.1%	50	0	9%	37%
2 bed	£692	-4.8%	-22.9%	-16.2%	64	8	6%	23%
3 bed	£976	-1.9%	-22.8%	-21.0%	66	6	10%	27%
4 bed	£1,464	0.3%	-23.9%	-15.9%	56	-2	6%	31%
Total	£736	-4.2%	-23.4%	-16.8%	58	4	8%	29%

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 2008)

Year	Q1	Q2	Q3	Q4
2008	100.0	99.5	100.7	98.8
2009	97.1	94.6	93.8	96.8
2010	96.9	96.5	96.3	98.3
2011	102.5	97.4	99.2	101.0
2012	103.2	101.8	101.6	107.3
2013	108.6	109.3	113.2	116.2
2014	120.5	122.5	120.6	125.4
2015	123.1	117.9	112.4	105.5
2016	97.7	93.9	93.7	89.2
2017	86.8	89.0	87.5	85.3
2018	83.2

Market Composition

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Yield by Popular Postcode (Flats):

Postcode	2017	2018	2019	2020	2021
AB10	5.20%	5.40%	5.20%	5.30%	5.3%
AB11	5.60%	5.70%	6.00%	6.20%	6.1%
AB15	5.10%	4.90%	5.20%	5.20%	5.4%
AB24	6.60%	6.70%	6.40%	7.30%	7.4%
AB25	5.50%	5.30%	4.90%	5.60%	5.8%

Matt Pullinger - Northwood Aberdeen

“Q1 of 2018 has seen a seismic change in the industry with the introduction on 31st Jan 2018 of the Letting Agent Code of Practise (Scotland) which will improve the industry for all concerned. Q1 in Aberdeen has started with a very busy period for us at Northwood Aberdeen. We conducted on average over 200 viewings per month and have seen good movement of properties showing a continued stability of the rental market in Aberdeen as it continues to recover.”

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Flats to rent in Aberdeen Houses to rent in Aberdeen