22 Jan 2018

Rents rise in Edinburgh despite signs that growth beginning to cool

Rents rise in Edinburgh despite signs that growth beginning to cool

The latest figures from Citylets indicate that rents in the Capital are continuing to rise but there are signs that growth is beginning to cool.

The 2017 quarter four figures from the UK’s leading residential lettings site has revealed that rents in Edinburgh again rose by 3% year on year (3.3%), hitting £1016 per month on average. Taking into consideration figures from the last few quarters, the indications are that this now appears to be the going growth rate for the Capital.

The research team at Citylets have utilised their own data, as well as drawing on key information from the Registers of Scotland and Government data to provide both a snapshot and a picture of longer term trends in Scotland’s Private Rented Sector.

The market in Edinburgh is moving at around the same speed as last year, taking 23 days to let on average, up just two days on Q4 2016.

One and two bed markets led the rise, recording 3.6% and 2.7% growth respectively with one bed properties taking just 17 days on average to rent.  Both markets were up 27% over a 5 year period.

Negative annual growth

Looking at the country as a whole, the research from Citylets revealed that negative annual growth at the national level recorded in Q3 2017 has continued into Q4, with the figure now standing at £734, 0.7% down year on year. 

Whilst the national picture represents an increase in the rate of annual decline it remains too early to confidently conclude whether this is the start of a new trend nationally, much of which is much of which is influenced by growth and decline in the central belt and Aberdeen.

Commenting on the figures, Jordan MacKay, branch manager, Aberdein Considine, Edinburgh, said: “The lettings market remains strong with very good demand for a well presented property.

City Centre properties are continuing to prove popular, along with Leith, Bruntsfield and Stockbridge.

A lack of stock and fewer buy to let investors may well see  the rise in rents continue slightly.”

Edinburgh market experts

If you are looking to buy, sell or lease property, Aberdein Considine can offer you the support of some of the most experienced property professionals in the country.

Due to our rapid growth in Edinburgh, we are opening a third office in the city on Elm Row which will open in March.

We are also an independent broker of buy-to-let mortgages and can offer home loans without any hidden fees.

If you would like to speak to a member of our team, call 0333 0066 333 or click here.

* Your home may be repossessed if you do not keep up repayments on your mortgage.

Please correct the errors below before submitting your request:

Get in touch

Our dedicated client contact team prefer to receive enquiries through our contact form. We'll endeavour to get back to you within 24 hours or during the course of the next working day.

Tick this box if you wish to receive news and offers from Aberdein Considine. By doing, you indicate your consent to receiving targeted email marketing messages from us. On each occasion that we contact you in the future, you will be given the option to opt-out from receiving such messages. You may also email marketing@acandco.com at any time to opt-out.

The personal information that you provide to us in this form will only ever be used by Aberdein Considine (as the Data Controller) for the following specifically defined purposes:

  • email you content that you have requested from us
  • with your consent, occasionally email you with targeted information regarding our service offerings
  • continually honour any opt-out request you submit in the future
  • comply with any of our legal and/or regulatory obligations