Property to rent in the capital recorded yet another all time high in the second quarter of 2019. The average property to rent in Edinburgh now stands at £1132 per month, up 4.1% YOY. Agent concerns of a slowdown noted in Q1 2019 have dissipated somewhat but have not disappeared. The annual rate of growth has eased in recent quarters. TTL is again up on the previous year, at 28 days, as per Q1 2019 and a continuing drag on TTL could still conceivably precede lower rents. Meanwhile, properties of all sizes reported annual gains of between 3.6% (1 bed) and 6.2% (4 bed), with 1 bed rentals continuing to move fastest at 25 days on average, followed closely by 4 beds at 26 days.
“This was the first full year of operating HMO student properties and re-letting them under the PRT and it has been as busy a summer as ever with changeover in tenancies. In general, we feel that the market functioned well enough and through proactive management and communication we were successful in keeping void periods to a minimum for our HMO landlords. Hence, we feel the perceived risks associated with the loss of the “no fault ground” appear to have been overstated. There is some continued evidence of a softening in the market especially for higher value properties and we have seen a reduction in rents and increased TTL figures.”
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