Page 50 - ESPC Magazine - June 2021

LETTING ADVICE

AVERAGE RENT IN SCOTLAND REMAINS
STEADY DURING UNCERTAIN FIRST

QUARTER OF 2021

Nicky Lloyd from ESPC Lettings explains the latest rental market report.

In the latest Citylets report, which covers a strong demand for properties within the
the first quarter of 2021, the average rent city centre, in areas such as EH7.
in Scotland remained steady at £826 per
month, up slightly compared to £811 in the Whilst average rents have decreased this
same period in 2020. The average time to let quarter, they are still up 39% in the past ten
across the country stood at 38 days, one day years, showing the long-term investment
faster than the same period last year. Here is potential the buy-to-let market can still
an overview of what has been happening in provide. Looking forward to the next quarter
the Edinburgh rental market. as more restrictions ease, we expect more
student renters to return to the city, which
AVERAGE RENT IN EDINBURGH will hopefully bring positive demand to the
According to Citylets, due to the increase in Edinburgh rental market.
stock from holiday lets the average rent in
Edinburgh fell 6.9% year-on-year to £1063.
One bedroom properties were least affected
with an average decrease in rent of 4.4%.
TIME TO LET IN EDINBURGH
The average time to let in the first quarter of
2021 was 46 days, slightly above the national
average of 38 days. 3 bedroom properties
were let the fastest, at an average of 41 days.

BEST RENTAL YIELDS IN EDINBURGH
Combining CityLets and ESPC data, we
can reveal that 3 bedroom homes in EH11
produced the best rental yield at 5.7%,
closely followed by two bedroom homes in
EH17 at 5.5% and two bedroom homes in
EH7 at 5.2%.

The top postcodes for average rental yields
clearly demonstrates a pattern that we
are experiencing when talking to tenants.
Properties outwith central Edinburgh are
proving popular due to their competitive
rents and more space, however there is still

50 ESPC.COM