Bruce Rae Property Management

Edinburgh Letting Trends

Recent figures released by Citylets, one of Scotland’s leading accommodation websites, reveal that Edinburgh’s letting market remains one of the strongest in the country with the average price of a property to rent in the capital peaking at £675 during the first quarter of 2007.

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