Property to rent in Edinburgh is still rising, the rate of growth has remained relatively subdued at 3.6% YOY and significantly down from a recent historic peak of 7.8% recorded a year ago. The market on the whole moved very quickly in Q4 with an average TTL of just 22 days. 1 bed properties in particular were snapped up quickly by prospective tenants at just 17 days on average TTL. 83% of 1 bed properties and nearly three quarters of all properties (74%) let within a month. The 5 and 10 year average growth rate for the Edinburgh market has been just over 5% YOY.
“2019 finished strongly with high demand and robust rent levels across all property types. The student market had a transitional year as PRT’s took effect. Student customers seemed poorly informed/unaware of the new market nuances, with many starting to search too late and experiencing high demand/disappointment. We expect 2020’s student consumer to be more aware and see greater demand in early spring with June/July lease starts. Landlord/Investor confidence remained bullish and initial signs for 2020 are more positive again.”
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