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Residential property rent growth flattens in Edinburgh in Q3 2019

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October 31, 2019 No Comments

Residential property rent growth flattens in Edinburgh in Q3 2019


Posted by admin in Blog

Seasonal lettings market update

Citylets have just published their quarterly rental market report and its Edinburgh section makes an interesting read. The upward trend of rent increases has continued in Q3 2019, rents rose by 3.6% on an average year on year – but the rent growth has slowed down significantly from 5.8% annual average based on the last 10 years.

The record high rents in Edinburgh

Currently the average rental property in Edinburgh is worth £1148 per month (from £810 for a 1 bedroom flat to £2009 for a 4-bedroom property). 3-bedroom flats appreciated most, by 6.2% year on year, while the rents for 4-bedroom properties in Edinburgh rose only by 0.3%.
The other significant change is a significant increase in time to let, to 27 days on average, from 19 days in Q3 2018. 1-bedroom properties were letting the fastest – 20 days on average, while 4-bedroom properties were on the market over twice as long, 41 days on average.

Edinburgh rental market snapshot

Average rent   Rent change YOY   Time to Let TTL, days   TTL change YOY, days
1 bed£8103.7%20 +3
2 bed£10542%27+6
3 bed£14806.2%39+10
4 bed£20090.3%41+12
Average  £11483.6%27+6

Source: Citilets Quarterly Report Q3 2019


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