Rents in Edinburgh reached an all time high as at Q1 2018 standing at £1062 per month on average, up 3.8% YOY. Whilst this may be pleasing for landlords and concerning for tenants the annual rate of growth does appear to have settled at around 3% down from the circa 5% in recent years. All main 1-4 bed markets recorded positive annual growth of between 3 and 6% as supply in the capital continues to decline. The average rental property in Edinburgh takes 27 days to let, up slightly on Q1 2017 by 2 days.
“Q1 has been an exciting time for the Edinburgh market with the bedding in of the PRT and agent regulation coming into force. Whilst there have been a number of shorter tenancies, on the whole most tenants wish for longer term tenancies and we are continually asked by bamboozled tenants why they cannot have a guaranteed fixed term under the new tenancy regime. Rental levels continue to rise healthily albeit at a comparatively steady rate for both new instructions and re-lets. There is strong demand across the market from one-bedroom apartments all the way to large family homes which bodes well for Q2 and beyond.”
I am a Tenant Landlord
