The Aberdeen rental market continued its decline, albeit steady, in Q2 2018 recording a 6.1% YOY fall. The average property now rents at £740 per month with a TTL of 49 days, the same as previous year. The gap with the national average widened to £59 with the latter driven higher by increases in all Scotland’s other 3 main cities. Landlords may be encouraged to note that 1 bed properties fared best at just 2.7% YOY decline with the average 1 bed renting 4 days faster than last year. The ten year average records a 1.6% annual decline.
“Demand has been gradually growing for rental properties in Aberdeen and Aberdeenshire, however there is still a lot of supply. This time of year is always busy in Aberdeen city with students looking for properties for the following term, however it will likely cool off towards the end of September. There is little doubt that the oil price being at a steady 70/75 Dollars a barrel is helping demand for rental properties. We should start to see more oil and gas professionals returning to the city and shire looking for properties to rent if the oil price stays in this region.”
I am a Tenant Landlord
