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Aberdeen

Matt Pullinger - Northwood Aberdeen

“It has been an exceptionally busy period as demand across the city and shire continued to increase in Q4. Enquiries and applications have been at peak levels, however, not all accommodation requests have been fulfilled as the current supply of available properties in Aberdeen continues to be an issue. Increased demand and a shortage of supply has resulted in rent increases for all property types and sizes. We have also experienced a growing appetite of investors seeking to buy property portfolios locally. Overall, the outlook for Aberdeen is very positive as we look ahead to 2023 and embrace the potential investment opportunities currently available.”

Market Overview - Q4 2022

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	£503	12.5%	2.9%	-15.6%	15	-17	37%	87%
2 bed	£725	14.5%	2.5%	-18.0%	22	-13	23%	75%
3 bed	£1,027	4.9%	7.8%	-21.3%	29	2	13%	56%
4 bed	£1,586	8.8%	3.3%	-19.9%	32	-4	13%	53%
All	£786	10.1%	4.1%	-17.3%	21	-12	27%	77%

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	83.6	84.2	80.8
2019	80.2	82.9	80.9	80.0
2020	79.3	78.6	80.7	80.1
2021	79.0	79.9	80.8	80.7
2022	81.7	83.4	87.2	88.8

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%

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Flats to rent in Aberdeen Houses to rent in Aberdeen