15 May 2013

A Booming Rental Market

A Booming Rental Market

Michael Sinclair, Senior Property Partner, looks at the rental market in and around Aberdeen and introduces Aberdein Considine's dedicated Leasing Team.

Michael Sinclair, Senior Property Partner, looks at the rental market in and around Aberdeen and introduces Aberdein Considine's dedicated Leasing Team.

The Aberdeen City rental market has reached a new high in rental figures in the first quarter of 2013.  Figures published by a recent Citylets survey show an increase in the average rent price in Aberdeen of 5.3% over the last 12 months taking the average rental attained to 42% higher than the national average.

With the rate of inflation at just 2.8% and interest rates offered by banks remaining low these figures stand to reinforce the attraction of a buy-to-let investment.    

The Citylet survey goes on to report ever shortening time to let statistics, with properties advertised in Aberdeen city taking on average less than 3 weeks to let. 

It is however not just the rental market in Aberdeen that is showing signs of growth, as the below graphic highlights the average rent price has increased across Scotland over the last 12 months. 

This high demand for rental properties by tenants combined with the rising rental figures has made this an ideal time for any prospective landlord looking to get into the rental market.    

With such a booming market it is important that anyone considering entering the buy-to-let market also considers how to get the most out of their investment with the minimum of effort on their part.

Specialising in leasing both City Centre as well as Country properties through our nationwide network of branches Aberdein Considine are always on hand to help.

For a full overview of the recent Citylets Report, please go to their website http://www.citylets.co.uk/reports/

Michael Sinclair, Senior Property Partner

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