Page 16 - December 2022

EXPERT ADVICE DREAM HOMES
Should you purchase a buy-to-let property

in the current climate? A life
beside the sea
Nicky Lloyd, ESPC’s Head of Lettings, shares advice for landlords on
whether now is the right time for a buy-to-let property.

he rental market has faced a range of who are experts in the process. Based in the
recent changes due to interest rates centre of Edinburgh, the ESPC Lettings team
Trising, the cost-of-living crisis, rent freeze of experts can provide sound buy-to-let advice
legislation and a ban on evictions. and help you choose the right property based on
possible rental yield and many other factors. A spacious family home in a highly sought-after
While the impact of these challenges remains location in East Lothian.
uncertain, regardless of any short-term When is the best time to buy a buy-to-let
fluctuations in the marketplace, a buy-to-let property?
property is still a sound medium term investment. Traditionally, there are more properties on the
Plus, with house prices having risen further in the market in spring so it’s a popular time to buy, and
third quarter of 2022 and interest rates rising it means you will have time to make any changes
at their fastest pace since the financial crisis of to the property if you want to have it ready in
2007/8, it is likely that further demand will be put time for students in September.
on the private rental sector with potential buyers
deterred by steeper mortgage repayments.
However, it is a common misconception that the
closer we get to the winter months, the property
Consider rental yields market goes into hibernation. In fact, fewer
With the increased house prices seen in the property listings mean that the buying process
third quarter of 2022 and rising interest rates, is less competitive.
it is likely that more demand will be put on the
private rental sector as we see potential buyers Speak to an expert
choosing to rent. If you’re interested in entering the buy-to-let
market or are a landlord looking for advice, a
The private rental sector in Edinburgh saw new letting agent or a full property management
significant growth during the third quarter of service, ESPC Lettings can help. As a letting agent
2022 with the average rent rising by 14.7% to a based in Edinburgh, we can assist with all stages of
new all-time high of £1327 per month. renting out a home, from finding the right property
to sourcing tenants and property maintenance.
When choosing a rental property, ideally you
want to invest in a buy-to-let property which Our team are up to date with what is currently
offers a good yield. You should also consider happening in the local market and have the
the type of property, the area it’s located and the skills and expertise to provide the guidance and
type of tenant you wish to attract. support you need during uncertain times.

The best way to work out if a property is a good Get in touch with the team today on
investment is to speak to a local letting agent landlord@espc.com or 0131 253 2847.

ESPC Lettings is an Edinburgh letting agent. We can help with marketing your rental property and finding the right tenants.
Contact the team on 0131 253 2847 or landlord@espc.com.
16 | espc.com espc.com | 17