Edinburgh, which witnessed its steepest year on year decline last quarter at 6.9%, continued to see some challenges with a large supply of smaller 1 and 2 bed properties. However larger 3 and 4 bed properties recorded positive growth at 3% and 1.8%, in strong contrast to the previous quarter (-6.1% and -17%) but in line with forecast that these markets would recover quickly upon easing of restrictions. Overall the average property to rent in Edinburgh fell just minus 0.6% YOY to stand at £1,115 per month.
“After the expected slow start to the year, Q2 has proved more robust with rents remaining fairly stable in 1 & 2 bed sectors despite a bit of oversupply of available properties. Increasing use of technology to provide tenants with virtual tours and extending visibility on social media platforms, has ensured a steady flow of enquiries whilst TTL has lengthened a bit simply due to the process itself requiring more planning to ensure that viewings are safe and well organised. Properties presented to a high standard are still the most sought after and will command a premium rental especially now as home working becomes more prevalent and time spent at home increases.”
I am a Tenant Landlord
