Edinburgh

Andrew Markham

Andrew Markham - Burgh Property

“The market in Q1 was off to a flying start with generally strong demand and student HMO letting for 20-21 already underway by February. Covid-19 hit and started to disrupt the tenant demand around mid-March. We experienced a sharp spike in tenants vacating, thus bringing much more stock to market, further affecting the time to let and rental levels since. With the current climate being unprecedented, it remains to be seen how the market will settle in the coming months, but with more stock available, we anticipate that landlords will need to be competitive with rents in order to minimise voids or shorten the time to let. We do expect the demand to bounce back by the end of Q2.”

Market Overview - Q1 2020

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 £793 3.8% 28.1% 52.5% 26 1 16% 65%
2 bed £1,040 2.7% 26.1% 56.6% 34 1 13% 53%
3 bed £1,465 -0.3% 22.0% 53.7% 40 3 11% 48%
4 bed £2,095 5.1% 25.3% 55.8% 35 9 26% 58%
All £1,142 2.4% 25.2% 54.3% 32 2 15% 57%

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 142.2 145.5 148.3 146.6
2019 149.3 151.5 153.7 151.4
2020 152.9      

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%
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