Border control: Scotland’s city snapshot
It is estimated that 14% of Scotland’s population live in the private rental sector, with many of those gravitating to urban locations. Whether it’s for work, culture or education, it appears that Edinburgh, Glasgow and Aberdeen never fall out of fashion. Here’s Viewber’s current rental market snapshot for Scotland’s star cities.
Edinburgh
As one of the UK’s leading tourist destinations, it comes as no surprise that the pandemic and its associated travel restrictions created an oversupply of rental stock in the city during the second half of 2021. The lack of tourists hit the short-term holiday market specifically and rent values, as a result, dipped for one- and two-bedroom apartments.
With a relaxing of restrictions, experts expect the rental market in Edinburgh to rise from its current stable position, with the professional and student sectors providing a boost in the first quarter of 2022. The latest figures from Citylets show the average property in Edinburgh lets for £1,157 per month and takes 30 days to let.
How far will £800 per calendar month stretch?
For £780 per month, you can rent a one-bedroom furnished apartment in the city centre. Although basic, you can expect a double bedroom, a modern kitchen and a short walk to Edinburgh’s finest attractions.
Glasgow
In a tale of two cities, Glasgow has posted exceptionally strong rental value growth and average rents have risen by 10.3% in the last 12 months, reveal Citylets. The biggest change has been the cost of a three-bedroom property, which is now 12.3% more expensive to rent in 2022, when compared to the last year.
Some of Glasgow’s healthy demand was driven by the COP26 environmental summit, which saw a scramble for quality short-let accommodation. As a result, current figures show the average monthly rent in Glasgow is now £928. Properties to rent in Glasgow don’t hang around either, with tenants found in an average of just 19 days.
How far will £800 per calendar month stretch?
It’s possible to secure a one- or two-bedroom apartment in Glasgow for £800 a month. There is good availability in modern blocks, some of which offer private allocated parking, a concierge and an en-suite bathroom.
Aberdeen
Aberdeen is a different story altogether. Rental values were largely stable in 2021, which led to a tiny -0.1% drop during the year. The average rent in Aberdeen now stands at £715 per month, according to Citylets, and it’s taking 43 days to let a property.
There is an exception to the static rental values trend, however. Family homes in the city are in high demand. The monthly rent for a four-bedroom property rose 5.3% in the previous 12 months, in sharp contrast with one-bedroom apartment values, which dropped -3.3% in the same period. The time taken to rent three- and four-bedroom properties in Aberdeen also dropped – by -21 and -27 days, respectively.
How far will £800 per calendar month stretch?
It is possible to secure a good quality two-bedroom apartment for less than £800 per month in Aberdeen, with newly refurbished flats with city skyline views available. Some entry-level three-bedroom apartments also scrape in just under £800.
The Viewber network extends well into Scotland and we have availability in Edinburgh, Glasgow and Aberdeen. Book an accompanied viewing, property visit or location inspection today.
