Rents in the Scottish capital yet again recorded positive YOY growth to average £1037 per month, up 5.2% as per the growth recorded in Q1 2017 and towering above every other location. Average TTLs were 25 days, the same as the previous quarter. All major markets recorded strong gains with 2 beds performing best, up 6% at £950 per month. It’s hard to foresee the capital market declining any time soon nor falling below the £1000 mark even during the quieter Q4 time of year.
“Q2 has seen a marked increase in activity in the Edinburgh market - especially at the middle to upper end. Properties have let increasingly quickly with improved TTL and at higher rental levels than previously seen and there is an ever-increasing appetite from overseas investors seeing the investment market strengthen. Contributing factors in this would be: the weakening of the pound; tax implications for potential UK purchasers with LBTT plus stamp duty on second homes (meaning that renting a home is more attractive and more cost effective than purchasing); political instability with Brexit; the recent General Election and a second potential Independence Referendum being constantly on the First Ministers agenda, creating further uncertainty in the sales market.”
I am a Tenant Landlord
