Edinburgh

Andrew Markham

Andrew Markham - Burgh Property

“The Edinburgh market in quarter 4 settled into a steady rhythm with a lower level of available stock across all property types, helping to maintain rent levels seen in Q3. The latter end of the quarter has seen a slowdown in tenant enquiries, due to fewer tenants choosing to move nearer to the winter holidays – a slowing of the market and a trend not seen since 2019. Whilst stock levels remain low across the market, the demand for attractive properties remains good with rents holding at the same level or sometimes higher than the previous rent achieved. Economic uncertainty, the energy crisis and energy performance are factors very much in tenants’ minds and will be decision making factors when shopping around for a property to rent.”

Market Overview - Q4 2022

BedsAverage
Rent
Rent Change
1yr
Rent Change
5yrs
Rent Change
10yrs
Av. TTL
(days)
TTL Change
YoY
Let within
a week
Let within
a month
1 bed £923 13.5% 28.6% 63.4% 10 0 57% 94%
2 bed £1,279 15.1% 35.2% 71.9% 11 0 48% 92%
3 bed £1,754 14.3% 37.2% 63.6% 20 5 32% 79%
4 bed £2,590 20.9% 52.9% 73.1% 12 -3 46% 89%
All £1,370 14.9% 34.8% 67.3% 12 1 50% 91%

Average Rent (pcm) by Number of Bedrooms

Average Time To Let (TTL) by Number of Bedrooms

Rental Index (base Q1 2008)

YearQ1Q2Q3Q4
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 130.1 132.0 135.6 131.7
2017 136.9 138.8 140.3 136.0
2018 142.2 145.5 148.3 146.6
2019 149.3 151.5 153.7 151.4
2020 152.9 150.2 152.5 145.2
2021 142.3 149.3 154.9 159.6
2022 162.5 171.8 177.6 183.4

Market Composition

Yield by Popular Postcode (Flats):

Postcode20172018201920202021
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%
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