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Aberdeen

Aberdeen recorded growth above 10% for the second consecutive quarter seeing rents starting to head back to parity with Citylets Index 2008 base.

Market Overview - Q1 2023

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	£514	14.7%	7.8%	-14.9%	19	-15	27%	77%
2 bed	£747	16.4%	7.9%	-16.8%	26	-11	23%	68%
3 bed	£1,048	14.7%	7.4%	-17.2%	36	-10	15%	52%
4 bed	£1,471	-2.3%	0.5%	-23.5%	48	12	30%	45%
All	£798	10.4%	8.4%	-17.0%	24	-13	24%	70%

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
2023	90.2

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%

Sarah Harley - Margaret Duffus Leasing

“Rents are rising in Aberdeen and with some landlords looking to get out of the market due to their own rising costs, the pressure on tenants is going to continue. The rent freeze coming to an end in March will see a rise for a lot of existing tenants coming into effect by July, but the cap has meant that some tenants are not only forced to move, but will pay a higher rent on the open market. Many properties are receiving several offers so landlords are looking for tenants to provide good references and a solid term credit history to be able to stand out from the crowd.”

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Flats to rent in Aberdeen Houses to rent in Aberdeen