The Aberdeen rental market again quickened by 4 days YOY to 45 days on average and further evidence as a precursor to full stabilization of rents in the region. Property to lease in Aberdeen recorded a minor 0.8% YOY drop to stand at £734 per month. On this trajectory it is reasonable to believe rents will now finally post zero or positive annual growth in the near future. This is echoed by agents who report brisk trade for good properties in good condition, where landlords have reacted with investment in their portfolios. 3 and 4 bed properties recorded positive annual growth of 1% and 1.5% respectively. 1 and 2 bed properties recorded notable reductions in TTL, down 5 and 7 days respectively.
“The letting market in Aberdeen is showing a brighter face. Yes! The letting market is bouncing back, but with characteristics that we had not seen for a while. Quality properties, well presented and tastefully furnished are achieving good rents and shorter than average time to let (TTL). Any property below average will stay a long time on the market and achieve a poor rent level. It is still a tenant’s market, thus landlords and letting agents that are customer focused, willing and prepared to provide a high standard service to applicants and tenants, will prevail and be at the top of the recovery wave.”
I am a Tenant Landlord
