Aberdeen

Juliet McPherson

Juliet McPherson - Northwood

“Q2 has seen an increase in the demand for properties from local, and international students but there is still a shortage of available properties in the PRS, with viewings reaching capacity quickly. Landlords were thankful of the end of the rent increase cap, 1st April – with rising costs of new legislative changes, the available chance to increase the rent slightly came as welcome news. We have noticed that some longer term landlords are exiting the market due to the increasing pressures from the new legislation given by the Scottish Government, and the increasing mortgage rates.”

Market Overview - Q2 2024

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 £553 5.1% 21.5% -18.9% 27 2 17% 65%
2 bed £800 7.1% 21.0% -21.3% 28 3 14% 66%
3 bed £1,177 5.2% 15.2% -21.8% 33 2 8% 58%
4 bed £1,703 2.9% 14.6% -17.1% 29 -7 12% 63%
All £886 6.1% 20.7% -18.3% 28 2 14% 64%

Average Rent (pcm) by Number of Bedrooms

Average Time To Let (TTL) by Number of Bedrooms

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 94.0 97.5
2024 97.6 100.1    

Market Composition

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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