Aberdeen rents fall, bucking national trend

Rental costs in Aberdeen have fallen over the past year according to a new report by Lettingstats, the research arm of letting agent Lettingweb.

The average advertised monthly rent for a two-bedroom property in Scotland was up 6.8 per cent year-on-year to £654 by the December-February quarter, but the size of the change varied across different parts of the country.

One of the biggest increases was in Glasgow, where rents for two-bedroom properties are up 6.5 per cent to an average of £665, while a smaller rise of 5.3 per cent in Edinburgh has seen the average cost reach £784 per month.

Rents rose 3.6 per cent in Dundee to £565, but fell by 1.2 per cent in Aberdeen to £972.

The Lettingstats report said the rental market in Aberdeen — the oil capital of Europe — “does seem to have adjusted accordingly” to the “dramatic collapse in oil prices” since Summer 2014.