Scotland’s capital is no stranger to annual rental growth with rises recorded quarterly for over 8 years. However Q4 2018 saw rents jump a significant 7.8% to £1095 per month, a level not seen since 2015-16 and led by strong demand for all property types. 4 bed properties saw the largest rise from both the one and ten year view (10.3% and 48.6%) and also a significant reduction in Time To Let (TTL) down 12 days to 39 on average. 79% of 1 bed properties let within a month and the TTL for the Edinburgh rental market as a whole averaged just 23 days, unchanged on last year.
“The PRS in the wider UK has diminished in size, however, Scotland has bucked this trend with the value of the PRS growing by 11.9% year on year, according to the recent Buy to Let Britain Report. Yields of 5.3% are also higher than the UK average of 4.4%. Much of this growth has been driven by Edinburgh, as the city continues to be the most prosperous outside of London with an expanding population. We have seen continued strong demand for good value properties across the board, with HMO’s and one bed flats performing especially well. The market is proving resilient in the face of the head winds of political and economic uncertainty and we are optimistic that it will continue to perform well into 2019 with opportunities for the professionally advised investor.”
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