Edinburgh

Karen Turner

Karen Turner - Rettie & Co.

“As we enter the end of the year, this is normally a time to take stock and breathe a little easier. However, the market is still reasonably active as we see tenants giving notice and those properties coming back to market. Tenant demand has slowed as most of the moving activity happened spring through autumn. Rental pricing has to be on point to achieve a let at this time of year. We are also seeing a lot of circumstantial landlords entering the market due to work contracts abroad for 2/3 years. Whilst their entry into the PRS is welcomed, it only offers a short-term solution to a growing shortage of housing crisis.”

Market Overview - Q4 2023

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 £1,052 14.0% 35.0% 82.0% 13 3 39% 89%
2 bed £1,413 10.5% 38.9% 83.0% 18 7 28% 79%
3 bed £1,909 8.8% 38.5% 83.2% 23 3 14% 74%
4 bed £2,496 -3.6% 33.6% 71.5% 34 22 9% 49%
All £1,503 9.7% 37.3% 82.8% 18 6 30% 81%

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
2023 183.7 197.7 207.0 201.2

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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