Dundee

Eilidh Finlayson

Eilidh Finlayson - Finlayson Gore

“Q3 saw the long awaited uplift in increased rents finally assisting many landlords who continue to be squeezed by interest rates and this has provided some much needed stability to the market. Long terms rentals remain oversubscribed while the student market has suffered a dip in uptake. Despite being unaffected previously by purpose built student developments, it appears that their impact is finally being felt in Dundee with an abnormally high number of traditional student HMO properties still available with the academic term now underway. It may be that an adjustment to the expected yields from student property needs to be factored into future investments.”

Market Overview - Q3 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 £647 8.6% 57.4% 71.6% 30 17 20% 66%
2 bed £910 1.4% 48.9% 65.8% 35 7 21% 54%
3 bed £1,198 -4.5% 43.6% 60.2% 64 23 6% 23%
All £942 1.5% 48.8% 66.1% 45 15 15% 46%

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 153.1 166.1 163.5  

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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