There are a number of factors that have combined to increase demand for rental  property including an increase in immigration, more people living alone and a weakening in the housing market. Ian Potter, head of operations at ARLA said, “This peak demand should come as no surprise. Softening in the sales market is always a driver of further demand in the rental market.”

The research also shows that more and more people in the UK are choosing to rent even though they can afford to buy, as renting offers more flexibility and better quality than they would be able purchase – especially for young people who do not want the commitment that comes with buying property. According to David Salusbury Chairman of the National Landlords Association (NLA), renting no longer has the same stigma attached and can offer a “good value alternative” for those whose lifestyle it suits.

For more information or advice on letting your property, please contact Elspeth.Rae@brucerae.co.uk

Source: www.lettingweb.com & www.bbc.co.uk/news

Rental values for one and two bedroom flats in the capital have remained fairly constant since the start of 2006, with the average time to let fixed at 29 and 35 days respectively. It was also shown that the greatest demand for property in Edinburgh was seen during the second quarter of 2006, with 68% of all properties letting inside a month.

Strong growth was observed in 4 and 5 bedroom properties with increases of 15.6% and 6.9%, pushing rents up beyond £1300 and £1500 by April 2007. However, it was also observed that cost and demand for these larger properties were affected significantly by what time of year it was, something that can be put down to Edinburgh’s large student population and the effect that this has on the market.

For more information or advice regarding letting in Edinburgh please contact:

Elspeth.Rae@brucerae.co.uk

All statistics taken from www.citylets.co.uk