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Aberdeen

Chris Minchin

Chris Minchin - Winchesters

“Q2 of 2023 has been very busy on the lettings front. Prices have recovered nicely due to the demand, while supply was low for a period; this has recovered towards the end of the quarter due to students graduating and moving home for the summer. Supply in 1 and 2 bedroom properties has increased to meet demand, however, supply of family homes from 3 to 5 bedrooms is still lacking and causes concern for some tenants looking to secure a family home for the coming academic year.”

Market Overview - Q2 2023

BedsAverage
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 £526 12.9% 12.2% -16.6% 25 -1 18% 69%
2 bed £747 14.0% 8.6% -15.0% 25 -1 15% 72%
3 bed £1,119 10.4% 10.6% -13.1% 31 0 13% 70%
4 bed £1,655 12.2% 13.0% -17.0% 36 5 10% 56%
All £835 13.1% 12.8% -13.7% 26 -1 16% 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)

YearQ1Q2Q3Q4
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 94.4    

Market Composition

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Yield by Popular Postcode (Flats):

Postcode20172018201920202021
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
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