Dundee

Eilidh Finlayson

Eilidh Finlayson - Finlayson Gore

“Q1 of 2024 has continued to demonstrate a real shortage of available property in the PRS with viewings being capped for most properties advertised and tenants left frustrated in trying to secure tenancies. As the 1st of April approaches and landlords and agents gear up to review passing rents, it is hoped that the end of the temporary rent cap and the newly revised procedures to review and increase rents for existing tenancies may bring some stability to the sector, and install a renewed sense of confidence in the investment market for would be landlords.”

Market Overview - Q1 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 £593 14.5% 46.8% 43.9% 20 5 32% 69%
2 bed £870 3.7% 52.6% 54.3% 26 7 30% 66%
3 bed £1,063 -1.2% 23.6% 34.2% 53 29 8% 46%
All £879 5.3% 41.8% 47.7% 27 7 29% 65%

Average Rent (pcm) by Number of Bedrooms

Average Time To Let (TTL) by Number of Bedrooms

Rental Index (base Q1 2010)

YearQ1Q2Q3Q4
2010 100.0 94.3 94.3 93.4
2011 102.8 95.5 91.8 86.1
2012 96.2 93.2 94.6 91.5
2013 99.3 98.1 96.4 91.7
2014 103.3 97.4 98.4 94.6
2015 101.9 103.8 99.7 99.0
2016 107.6 104.0 102.4 103.6
2017 105.9 104.7 101.4 95.8
2018 106.6 107.3 104.9 100.3
2019 107.6 106.9 109.9 104.2
2020 109.4 116.0 109.9 108.5
2021 111.5 115.5 122.7 117.2
2022 125.3 133.2 137.8 148.1
2023 145.0 154.7 161.1 156.9
2024 152.6      

Market Composition

Yield by Popular Postcode (Flats):

Postcode20172018201920202021
DD1 7.70% 6.70% 6.70% 6.70% 7.1%
DD2 6.40% 6.60% 6.20% 6.30% 6.3%
DD3 7.80% 7.10% 7.10% 7.30% 7.1%
DD4 8.70% 7.40% 7.20% 7.00% 7.0%
DD5 5.00% 4.50% 4.50% 4.50% 4.5%
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