Average rents in Edinburgh, which broke through the £1000 mark to reach £1014 last quarter, fell back below to stand at £984 per month, up 3.6% YOY. With average TTLs at a steady 17 and 21 days and growth still at 6% for the large 1 and 2 bed markets, it appears this is a seasonal dip in average rents rather than a clear cooling in Scotland's capital though it is also hard to believe the growth rate recorded at each quarter over the last 2 years can continue.
“Again in Q4 of 2016 there has been high demand for all levels of rental properties across the spectrum and with the time to let and average rent remaining both low and strong respectively. The market continues to strengthen with demand exceeding supply, a problem which the government must look to address in the early part of 2017. This being said we are still seeing a strong appetite for investor landlords or those looking to let their existing assets and we expect this to continue well into 2017.”
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