Following unprecedented rises in the capital in Q1 2022, finding property to rent in Edinburgh continued to remain very challenging with rents up a material 15.1% to a new ATH of £1283 and average TTL down further still at 15 days. It is hard to see matters improving substantively for tenants over 2022. The turnaround in Edinburgh’s PRS fortunes from oversupply to undersupply seems complete. What a difference a year can make, indeed.
“The market for Q2 has been very fast paced and in keeping with the pace we saw in Q1, with a real rush in demand from tenants across all sectors and property type. Student stock has been in extremely high demand, particularly for desirable addresses in the New Town or Marchmont areas, and demand is way outstripping supply in some instances – fuelling an increase in HMO rents. Outside of the student market, the demand for 1 and 2 bed city properties remains buoyant and family houses are very sought after. With the supply of properties not due to change significantly soon, we anticipate a busy year ahead with strong rents and low voids for landlords.”
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