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Aberdeen Buy-to-Let Guide

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    All About Aberdeen's Buy-to-Let Scene

    Aberdeen is the third-largest city in Scotland. It has a population of roughly 213,000 people. That number is predicted to grow to 268,000 by 2038.

    Aberdeen is known as the Granite City due to the number of buildings made from this particular stone.

    Today, we’ll be evaluating the Aberdeen buy-to-let market. This city offers some of the cheapest properties in the country. But is there more to the rental market than meets the eye?

    We’ll be diving into property prices, rental yields and comparisons with other UK cities. By the end of this article, you’ll have an idea of whether Aberdeen aligns with your investment strategy.

    Read on for more information on buying a buy-to-let property and the latest market report.

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      Buy-to-Let Property Prices in Aberdeen

      Aberdeen is one of the cheapest places to buy property in the United Kingdom. Good news if you’re an investor looking to reduce buy-to-let fees.

      The HM Land Registry UK House Price Index puts average Aberdeen property values at £141,358. A year prior, they were £146,767. This represents a –3.70 % difference over 12 months.

      The same index indicates that Aberdeenshire house valuations are £200,624 on average. Therefore, Aberdeen prices are over 34% cheaper on average than the rest of the region.

      Land Registry indicates that the average UK house price is £287,546. Aberdeen is an incredible 68% less expensive than the rest of the country.

      Take a closer look at the buy-to-market with RWinvest’s latest insights and guides! From buy-to-let stamp duty to the pros and cons of buying a rental property, our resource library is packed with the essential knowledge to help investors every step of the way.

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      Buy-to-Let Rental Market in Aberdeen

      The Scottish rental market makes for exciting reading if you are a buy-to-let investor.

      Firstly, the Homelet Rental Index states that Scotland’s annual rental growth was 15.80%. This is significantly higher than the UK average of 10.30%. It even surpasses London’s 12.90% figure.

      According to Home.co.uk, Aberdeen has an average rental income of £1,274 pcm. This puts the Scottish city’s average yield at a substantial 10.8%. In comparison, the UK average rental yield is only 5.19% (based on figures from the UK House Price Index and Homelet Rental Index). Edinburgh has a yield of 7.58% and London only has a yield of 3.74%.

      If you’re looking for a thriving rental market, Aberdeen should be high on your property market search.

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      Investment Properties for Sale in Aberdeen

      According to Rightmove, properties in Aberdeen saw an average price of £184,982 throughout the past year. As mentioned, property prices in the area are notably lower than the overall UK average, meaning there could be higher levels of affordability depending on location.

      In general, sold prices in Aberdeen over the last year saw a 3% decline compared to the previous year, with a substantial 36% decrease from the peak observed in 2006 when the average price reached £288,204.

      Various economic factors and local conditions can influence market fluctuations over the years. Understanding these trends is crucial for buyers and sellers to make informed decisions.

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        Statue of Edward VII with Former South Church with Kirk of St Nicholas (Triple Kirk) in the background, in Aberdeen, Scotland, UK

        Buy-to-Let Investment in Aberdeen: Area Breakdown

        If you’re looking for an investment property in Aberdeen, be sure to consult our area breakdown below.

        All property prices in this section were taken from Zoopla.

        Aberdeen City Centre

        Aberdeen city centre includes the typical property types you would find in any city centre. These include flats, terraced houses and new-build apartment blocks. The West End is a district outside the city centre that is popular with tenants. It offers larger houses and its own shopping areas, restaurants and more.

        Average Property Prices in Aberdeen City Centre

        The AB11 postcode commands an average property price of £129,359.

        Average Rental Yields in Aberdeen City Centre

        The average yield in this area is 5.7%.

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          Aberdeen Street View

          North Aberdeen

          Areas in north Aberdeen include:

          • Donside
          • Hilton
          • Hayton
          • Kittybrewster
          • Old Aberdeen
          • Woodside
          • Tillydrone

          You can find the University of Aberdeen in this part of the city.

          Across the River Don, you can find:

          • Danestone
          • Cloverhill
          • Bridge of Done
          • Middleton Park

          These areas are known for various industrial estates and innovation parks. Bridge of Don is also a sought-after residential area.

          If you go further northeast, you’ll find the towns of Dyce, Blackburn and Bucksburn. Dyce is the home of Aberdeen Airport. The area also houses many large employers from the oil industry. These can be found in places such as the Kirkhill Industrial Estate.

          This area is covered by the AB21, 22, 23, 24 and 25 postcodes.

          Average Property Prices in North Aberdeen

          The average property prices in this area are:

          • AB21: £208,303
          • AB22: £212,206
          • AB23: £200,250
          • AB24: £116,348
          • AB25: £172,205

          Average Rental Yields in North Aberdeen

          The average yields are:

          • AB21: 4.6%
          • AB22: 4%
          • AB23: 4.6%
          • AB24: 6.7%
          • AB25: 4.2%

          Buy-to-Let Investment Guide

          Want to become a successful buy-to-let investor? Get our free investment guide today for all the latest tips!

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          Off-Plan vs Completed Property

          The ultimate guide to help you choose whether to invest in off plan or completed property in 2024.

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          Aberdeen Riverview

          West Aberdeen

          Areas in western Aberdeen include:

          • Mastrick
          • Cummings Park
          • Northfield
          • Sheddocksley

          Wooden Hospital and Aberdeen Royal Infirmary can be found in this part of the city. If you venture further out, Fairley Kingswells and Westhill are growing residential areas.

          Average Property Prices in West Aberdeen

          Property prices in AB16 are £117,657 on average. Further out, AB32 is more expensive at £261,200 on average.

          Average Rental Yields in West Aberdeen

          Yields are 6.3% in AB16 and 6.6% in AB32.

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            Aberdeen Aerial View

            South Aberdeen

            Areas in this part of Aberdeen include:

            • Bieldside
            • Braeside
            • Cults
            • Craigiebuckler
            • Hazlehead
            • Milltimber
            • Bridge of Dee
            • Mannofield
            • Ruthrieston
            • Rubislaw

            Tenants prefer Broomhill and Ruthrieston due to mid-market prices and good access to the city. Bridge of Dee is popular with students and families, as it boasts local amenities and is close to Robert Gordon University.

            Meanwhile, the likes of Cults and Bieldside appeal to investors and tenants. The area has many large houses that are good for families or potential HMOs. Properties are more expensive than the average price. If you venture further south, you’ll find the A90 Aberdeen Western Peripheral Route, which has made southern areas more accessible.

            Postcodes in this area include AB10, 12 and 15.

            Average Property Prices in South Aberdeen

            Average property prices in this area are:

            • AB10: £197,286
            • AB12: £196,813
            • AB15: £282,677

            Average Rental Yields in South Aberdeen

            Rental yields in this area are:

            • AB10: 4.1%
            • AB12: 5.1%
            • AB15: 4.6%
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            Why You Should Consider a Buy-to-Let Investment in Aberdeen

            Student Property

            The University of Aberdeen ranks highly on the Guardian University League Table and Times/Sunday Times Good University Guide. This attracts many students to the area. Roughly 15,000 students are attending the University of Aberdeen. A further 16,700 attend Robert Gordon University.

            Such a substantial student population presents a good buy-to-let investment opportunity in the area.

            Solid Business Opportunities

            Aberdeen is a major player in the European oil industry. Many workers in the area are wealthy, and lower living costs also play their part in wealth acquisition. In addition, according to ONS, the city has the lowest unemployment rate in all of Scotland.

            Aberdeen also has numerous business parks which add thousands of employment roles into the local economy.

            This thriving business environment creates demand for homes as people choose to come to the area for job opportunities.

            Buy-to-Let Investment Guide

            Want to become a successful buy-to-let investor? Get our free investment guide today for all the latest tips!

            Download Guide Guide - Buy to let investment guide

            Off-Plan vs Completed Property

            The ultimate guide to help you choose whether to invest in off plan or completed property in 2024.

            Download Guide

            Aberdeen New-Builds

            Newly constructed properties hold a distinct appeal in the UK rental market, garnering significant interest from tenants and landlords alike.

            Their status as recently built developments means they demand minimal maintenance or upkeep before tenants can move in, resulting in a swifter move-in process. This also often means a faster turnaround on rental returns for landlords, fostering a mutually advantageous dynamic between both parties.

            In Aberdeen, various plans are in place to address long-term housing shortages in the area. New housing schemes, such as the Cloverhill site in the Bridge of Don, are expected to increase energy efficiency and boost the local rental market.

            Considering this emerging market trend, delving into new-build investments like these could potentially yield profitable opportunities in the future.

            However, while Mansfield does offer some options, investors may find more appealing deals on new-build properties and access to a broader array of potential tenant demographics in other cities, such as Liverpool or Manchester.

            Freehold Vs Leasehold – Download Our Free Guide!

            What's the difference between freehold vs leasehold property, and what do you need to know as an investor? Fill in your details now to download our helpful guide.

              Off-Plan Property

              Off-Plan Property in Aberdeen

              Although the advantages of investing in new-build properties are clear, they frequently come with a heftier price tag compared to older residential properties.

              Off-plan property investment emerges as a feasible solution for accessing new builds at a more economical price point. Investors who opt for off-plan purchases commit to a property before its completion, typically securing it at a discounted rate compared to standard market prices.

              Early engagement can result in significant capital appreciation with a lower initial investment, as the value naturally rises nearing the completion of the property.

              Similar to most new-build investments, especially in high-demand locations, off-plan properties can potentially see strong rental demand and robust long-term yields.

              Further Reading: Learn more about this investment trend with our recent buy-to-let guides, covering everything from off-plan property in Reading to the latest UK hotspots!

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                How Does Aberdeen Compare to Other UK Regions When It Comes to Buy-to-Let?

                So, is Aberdeen the best place to invest in property?

                The area can be a fantastic place for a property investor in the UK, boasting cheap property prices and a healthy rental yield. The economy and student population also provide inviting opportunities for most investment strategies.

                However, if you are looking for a quality student property investment market, you may want to consider Liverpool property investment.

                Liverpool boasts four top universities and a student population of 70,000. In addition, Liverpool has a student retention rate of 31%.

                Not only does this create a demand for student properties, but it also creates a demand for properties suitable for young professionals.

                In addition, Liverpool offers a superior arts and culture scene to Aberdeen. Coupled with similarly high yields in certain parts of the town centre and cheaper-than-average property rates, Liverpool is the go-to place for capital growth, a healthy ROI and quality of life.

                Finally, Liverpool has a thriving new-build and regeneration property market in various up-and-coming zones across the city. For example, off-plan properties like Central Park and Heaps Mill are situated in the Baltic Triangle, one of the coolest neighbourhoods in the entire country. This area attracts students and young professionals thanks to its proximity to the waterfront, the local universities and a bustling nightlife scene.

                Delve deeper into the North West with RWinvest’s overview of Warrington investment properties!

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                  Want to Invest in Aberdeen?

                  If you are interested in buy-to-let investment, it may be worth contacting a property investment company that can help you find units that suit your investment strategy. By working with experts to find the right opportunity for you, you can maximise capital gains while saving money on below-market value deals.

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                  Author

                  Dale Barham

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                  Dale is a property news and onsite content writer at RWinvest.

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