Dundee

Eilidh Finlayson

Eilidh Finlayson - Finlayson Gore

“Q2 saw the long awaited rent increase notices being issued where appropriate and our landlords accepted sensible guidance in implementing increases - all of which were accepted by our tenants. While many rents are still well below market levels the uplift goes some way towards easing financial pressures on our clients. Demand continues to outstrip supply and competition to secure tenancies is fierce - this seems unlikely to wane into Q3 which traditionally sees increased student activity ahead of next academic year which unfailingly drives rents upwards.”

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 £631 11.7% 51.0% 68.3% 31 13 20% 57%
2 bed £922 6.8% 56.3% 68.2% 37 13 15% 53%
3 bed £1,328 6.1% 70.7% 91.6% 38 7 17% 53%
All £957 7.4% 55.4% 70.6% 36 11 16% 54%

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 153.1 166.1    

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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