The latest Citylets report for Q4 2019 is just out and it provides a very mixed picture across Scotland and within each city.
In Edinburgh the average increase across all properties is 3.6% in the past year. 1 beds are shown to have risen by 2.2% but 3 and 4 beds are rising at double the rate at 5.6% and 4.7% respectively.
We focus as a letting agent on flats in good condition in central Edinburgh. Our experience suggests that the increase in the rental value of the flats we manage is perhaps a bit higher than this report suggests.
The "average" flat for us is far different to the Citylets average though. Our recent example of a renovated property taken to market illustrates this quite well. We took a two bedroom flat on from another agent in Dalry a year ago and once we inspected it we knew it would need some work to bring it up to our standard. To be fair to the landlord they didn't know that the property's condition had deteriorated since they gave the flat to the previous agent to manage.
You can find details about this property in our blog post here.