Edinburgh Rental Market Quarterly Report
Data provided by the latest Citylets Quarterly Report highlights the impact of the Cost of Living (Tenant Protection) (Scotland) Act 2022 on Scotland’s rental sector, causing rents for new tenancies to show an annual increase by double digits for the third quarter in a row since the legislation was introduced.
Edinburgh saw another rise in average rents to £1,477 per month, with one-bedroom properties letting the fastest - in just nine days on average. The average time to let a property in Edinburgh was just 14 days in the second three months of 2023, indicating the consistent strong demand.
The average rents in Edinburgh have risen by 80.6% in the last 10 years and 15.1% in the last 12 months. The ongoing issue of demand outstripping supply continues to pressure the market, despite new legislation governing short-term lets that promised to put more homes back in circulation.
Overview of the Edinburgh rental market
The Edinburgh rental market continues to be a dynamic and competitive landscape, offering tenants a diverse range of properties. As we explore the trends and insights of the second quarter of 2023, it is important to understand the current state of this bustling market.
Young professionals relocating to Edinburgh for a new job opportunity may hope to find themselves browsing through an array of options, from charming city centre apartments to cosy suburban flats. But properties available to rent are scarce as the demand for rental properties in this vibrant city remains consistently high, attracting
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