Rents in Edinburgh continued to rise, up 5% YOY, to a new all time high of £1115 per month and back to the growth range seen throughout the majority of 2018. However the picture has been mixed with reports of a slowdown at the start of the year beyond the seasonal norm and TTLs for the city rose 3 days to average 30. Some agents reported a clear reduction in enquiries from EU nationals. It is unusual for an all time high to be set in the first quarter of the year making Q2’s figures keenly awaited to establish whether this represents a high water mark in a cooling market or the beginning of another year of rising rents in the capital.
“Q1 has been busy in the Edinburgh PRS, with more investors looking to purchase properties following the upturn in the sales market in Q4 of 2018. Investor and landlord enquiries have spiked, suggesting Brexit is not casting a shadow over the market. The rental market is buoyant, with sensibly priced, well-located properties in high demand, as tenants are increasingly priced out of the sales market. Rents for 1 and 2 bedroom properties have increased during Q1 due to demand outstripping supply, confirming that the Edinburgh rental market is still a solid investment option for landlords.”
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