Aberdeen continued its progress towards leveling off with minus 3.6% annual growth in Q3 2018 and a market speed which has improved by 4 days- £746 per month and 45 days respectively. 1 bed properties again fared best at minus 2.7% annual growth and 42 days time to let (TTL). 42% of all Aberdeen rentals are let within a month, up from 37% last year. Numerous positive announcements for oil projects in the region have been made, though they will take their time to filter through to the property market. The price of oil has trended broadly upwards from its low 3 years ago.
“Q3 has been an exceptionally busy period for us at Northwood Aberdeen with quick turnarounds of competitively priced properties that are presented to a high standard. A number of properties have been let within a week of advertising, a significant improvement compared with previous quarters, hence landlord expectations are being exceeded. The student market has continued to show high demand for quality properties and we have also seen positive movement in the leasing of larger properties. Current demand for quality one bedroom properties is high and there continues to be a lack of supply to meet demand.”
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