Aberdeen has been named the most affordable city in Scotland for students.
A new report by StuRents, a rental property website, has revealed that the average price of a private student rental property in the Granite City is around £96 a week.
They say that figure, which excludes campus accommodation, is less than half of the likes of Glasgow and Edinburgh – which are priced at £204 and £200 per week respectively.
The numbers should come as welcome reading for those considering studying for their degree in the Granite City.
However, do the numbers tell the whole story?
The Press and Journal has spoken to a number of property experts in Aberdeen to give their verdict.
And despite the positive onlook painted by StuRents, Granite City estate agents say they expect demand to continue to outstrip supply in the future – which could cause prices to rise before long.
Local renting market ‘a rollercoaster’
Martin Kingdon, from Peterkins, says that while the numbers are welcome they may not last in the long term.
He said: “The leasing sector has been a rollercoaster over recent years.
“During the Covid-19 pandemic and the cost-of-living crisis, we found that rents dropped significantly in some areas.
“Over the past few months, we have seen rents on the rise mainly due to the lifting of the rent increase restrictions previously imposed by the Scottish Government.
“This was a challenging time for landlords continuing to let their properties with mortgage rates and insurance increases.
“Over recent months we have seen the supply of accommodation decrease and demand for properties increase.
“With fewer properties being available on the market, rents are on the rise and will likely continue to do so.
“An increase in demand has also been present with students.”
He added: “In comparison to Edinburgh and other major cities, however, Aberdeen remains an affordable option for students to study in a great city with a wealth of local amenities and entertainment on their doorstep.”
Aberdeen rental prices ‘expected to continue increasing’
Maxine Card, Martin and Co’s branch manager, echoed that same sentiment – saying she expects prices to rise soon.
She said: “Given the ongoing imbalance where student demand outweighs the available supply in the private sector, it’s likely that demand for student housing will remain strong.
“This could be driven by consistent or increasing student enrolment numbers, both from domestic and international students.
“With the demand surpassing supply, rental prices are expected to continue increasing.
“This upward trend in rents reflects the intense competition among students for available properties and is likely to persist until supply catches up.”
Aberdeen a ‘welcoming and supportive student environment’
Aberdeen University have welcomed the news.
They say that the current cheap rentals offers a “welcoming and supportive” environment for students.
A university spokesperson said: “By maintaining affordable rental options, Aberdeen strengthens its reputation as a welcoming and supportive environment for higher education.
“This allows us to continue to attract a diverse student population which enriches the cultural fabric of the city and contributes to the local economy.”
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