Property to rent in Edinburgh remained very difficult to secure with average Time to Let (TTL) remaining at just 15 days. 1 bed properties take, on average, just 11 days to rent. The average property to let in Edinburgh now costs £1327 per month, up a significant 14.7% YOY. Many agents note they have never operated in a more competitive market.
“The market in Edinburgh has swung from a situation of a post pandemic oversupply of stock, which resulted in deflationary pressure on rents, to one of a significant undersupply, which has driven rents to record levels in the capital. Demand levels remain high - we are seeing multiple applicants for any property advertised, resulting in average time to let figures dropping across all areas and for all sizes of properties. It will be interesting to see if activity levels drop as we move into winter. It is our expectation that demand levels will remain high and at the same time stock levels will continue to be constrained, meaning competition amongst tenants searching for properties will be intense.”
I am a Tenant Landlord
