Edinburgh

Steve Coyle

Steve Coyle - Cullen Property

“The Edinburgh market continues to perform very strongly. Available properties across all tenures saw very high demand from prospective tenants in Q2 with 1 and 2 bedroom rent levels being higher than ever before, with demand still growing. The student market was also very intense through Q2 but with a huge increase in ‘change of tenancy’ demand (change of several tenants within existing group), with students being very reluctant to give up any property for fear of not securing another later. Absolutely no doubt that government’s PRS policies are damaging the market and mostly adversely affecting the ability for tenants to find and afford a home to live in. Urgent requirement for Scottish Government to promote and incentivise the building/supply of more homes.”

Market Overview - Q2 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 £999 15.1% 31.8% 76.5% 9 -4 52% 95%
2 bed £1,362 17.4% 38.1% 83.6% 15 0 37% 85%
3 bed £1,917 12.7% 35.3% 80.5% 17 -1 41% 81%
4 bed £2,729 15.5% 37.1% 82.3% 17 0 43% 82%
All £1,477 15.1% 35.9% 80.6% 14 -1 42% 87%

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    

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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