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Edinburgh

As anticipated for several quarters, average rents in Edinburgh have now broken the £1000 per month mark to reach £1014, up 7.6% YOY. Good news for landlords but concerning for tenants who may also find it increasingly hard to secure a rental in the capital due to the speed of letting for popular 1 and 2 bed properties, at 14 and 20 days respectively. These average TTLs usually cover the period for viewings, deposit collation and the obtaining of references.

Market Overview - Q3 2016

Beds	Average Rent	Rent Change 1yr	Rent Change 3yrs	Rent Change 5yrs	Av. TTL (days)	TTL Change YoY	Let within a week	Let within a month
1 bed	£708	9.6%	25.5%	30.1%	14	-2	41%	86%
2 bed	£941	7.2%	25.3%	30.7%	20	2	33%	76%
3 bed	£1,307	9.7%	24.1%	29.7%	28	-2	22%	61%
4 bed	£1,751	3.5%	19.0%	24.0%	36	5	14%	55%
All	£1,013	7.5%	23.5%	29.4%	20	0	33%	77%

Average Rent (pcm) by Number of Bedrooms

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Average Time To Let (TTL) by Number of Bedrooms

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Rental Index (base Q1 2008)

Year	Q1	Q2	Q3	Q4
2008	100.0	100.1	102.0	102.3
2009	99.2	96.9	97.6	98.3
2010	99.1	101.1	100.7	103.2
2011	102.5	102.9	104.8	104.3
2012	105.5	105.9	106.2	109.6
2013	109.4	109.5	109.8	110.0
2014	113.5	115.1	117.3	120.5
2015	122.1	123.6	126.1	127.2
2016	130.1	132.0	135.6

Market Composition

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Yield by Popular Postcode (Flats):

Postcode	2017	2018	2019	2020	2021
EH3	4.00%	3.70%	3.90%	3.60%	3.8%
EH7	5.60%	5.00%	5.50%	5.00%	5.1%
EH8	7.00%	7.00%	6.30%	6.60%	6.4%
EH9	4.80%	4.80%	5.10%	4.70%	4.8%
EH10	4.20%	4.10%	4.20%	3.80%	3.9%
EH11	5.80%	5.80%	5.80%	5.60%	5.3%
EH12	4.70%	4.90%	4.90%	4.70%	4.6%

Nicky Lloyd - ESPC Lettings

“As summer draws to a close, so does traditionally the busiest time for rentals. Throughout Q3 we have seen the demand for rental properties dramatically exceed the supply. Fierce competition from tenants has led to an increase in rents and decrease in total time to let, all of which is positive news for landlords. This trend looks to continue and we anticipate another strong quarter in the rental market.”

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