Property to rent in Edinburgh reached an all time high in Q2 2018, rising 4.8% YOY to £1087 per month. It is a noteworthy acceleration on annual growth from the c3% recorded over recent quarters however the market continues to move at approximately the same pace as last year with an average Time To Let (TTL) of 26 days, just 1 day more than Q2 2017. All 1-4 bed markets rose sharply with 4 bed properties gaining most, up 6.8% YOY, outperforming the city average TTL at just 20 days, down 5 on last year and confirming the sustained demand for larger properties in the capital’s Private Rented Sector.
“Q2 has been a busy time for Edinburgh lettings. We have seen a significant increase in the number of investor clients who, unlike ‘accidental landlords’, are undeterred by higher stamp duty and are demonstrating their confidence in the sector by expanding their portfolios. Demand continues to outstrip supply, especially for one and two bedroom flats, increasing competition between applicants and pushing up rent levels. However, the strain on this area of the market may gradually reduce as landlords are increasingly finding the short term market is saturated, driving them to seek long term tenants.”
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