For a while now, the news for landlords in Aberdeen has been overwhelmingly positive, with demand driving huge competition amongst tenants and, subsequently, rents increasing at unprecedented levels.
According to our October Report, property in Aberdeen let on average twice as fast in Summer 2013 as it did in 2012. Despite rent increases of over 5%, a staggering 89% of 1 bedroom property was let in under a month and the average time to let was just 11 days.
But is change on the horizon? How long demand and supply can run against each other without negative consequences is questionable, and the added uncertainty caused by the upcoming vote on independence will do nothing to entice potential property investors.
Our second Lettingstats report is coming soon (keep an eye on our profile to see when), which may provide clues to where Aberdeen lets are headed. But what are local agents seeing in the market?
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Member Since January 1970 - Comments: 36 - Articles: 1
8:44 AM, 4th December 2013, About 12 years ago
Interestingly, the SpareRoom Room Rental Index seems to indicate that a ceiling has been reached – whilst year on year rents have increased by 12.75% in Aberdeen, the city has seen room rents fall by 6.96% in the last quarter, according to the November index which is just about to be published. To read the full report, sign up for the monthly index at http://www.spareroom.co.uk/rentalindex