Edinburgh

The rate of rental growth in Edinburgh, which quickened last quarter, has been sustained in Q3, now up 5.6% YOY to another all time high at £1107. Positive annual growth in the capital has now been recorded for 32 consecutive quarters, 8 full years. 4 bed properties again saw the largest rises over the one year and ten year perspective, up 10.8% and 53% respectively. The average time to let in Edinburgh during the peak Q3 period was just 21 days and just 17 days for 1 bed properties. The large majority of properties in Edinburgh are let within a month (76%).

Market Overview - Q3 2018

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 £780 4.4% 38.3% 43.4% 17 0 35% 83%
2 bed £1,033 6.8% 37.5% 47.2% 21 -1 25% 76%
3 bed £1,394 5.4% 32.4% 41.7% 29 0 20% 60%
4 bed £2,003 10.8% 36.1% 53.0% 29 -3 21% 65%
Total £1,107 5.6% 35.0% 45.3% 21 -1 28% 76%

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 142.2 145.5 148.2  

Market Composition

Yield by Popular Postcode (Flats):

Postcode20132014201520162017
EH3 3.9% 3.9% 4.1% 4.1% 4.0%
EH7 5.4% 5.5% 5.6% 5.6% 5.6%
EH8 6.8% 6.8% 6.6% 7.2% 7.0%
EH9 4.8% 4.7% 4.9% 5.1% 4.8%
EH10 4.5% 4.4% 4.3% 4.3% 4.2%
EH11 5.9% 5.8% 5.9% 6.1% 5.8%
EH12 4.9% 4.9% 5.1% 5.4% 4.7%
Ian Lawson

Ian Lawson - Lomond Capital

“Central belt activity in Edinburgh and Glasgow still very busy and prominent as we head into Q4. We are still seeing investors seeking good quality property in Edinburgh and coming to the table with exciting growth/investment plans for stock in the 1-2 bed range. Despite a slight influx in landlords wanting to dip their toe in short term lets, we are comforted by enough landlord enquiries choosing long term rentals, having seen the market post PRT maintain itself and adapt.”

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