The Citylets Q3 Report was recently released, below are some Edinburgh related stats and pertinent information…
The average Edinburgh rent across 1-4 bedroom properties has reached an all time high of £1,148pcm, in comparison to the national average of £821pcm. There has been a 6 day increase on last year’s average Time to Let (TTL), but the TTL for Edinburgh 1 bedroom properties remains well below the national average (30 days) at 20 days.
No doubt many Edinburgh letting agents experienced the Q3 ‘rush’ with students in Edinburgh desperately seeking accommodation. I know Evergreen Property certainly did, with enquiries streaming in from students panicking that they’ll not secure a property. With university halls full, the majority of our enquiries were from students, and we were able to set our rents at area-specific top end rates. Our void periods also reflected the Q3 report, with TTL down on the previous quarter.
Read the full report here –