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EXPERT ADVICE ESPC Springwell-Torwood Adverts June.qxp_Layout 1 27/05/2022 10:59 Page 1

No1 GORGIE ROAD APARTMENTS DUPLEXES TOWNHOUSES LODGES FROM £317,000

The Scottish Rental Market Update: Q1 2022

The latest Citylets data is in, and Nicky Lloyd, Head of ESPC Lettings,
takes us through the stats for the first quarter of 2022.

he latest Citylets report demonstrates driving the average rental rate for this property
clear evidence of a rise in demand for city type to £2,211 and meaning that Edinburgh’s
Tliving during the first quarter of 2022. four-bedroom properties have seen a 58%
increase in rental rates over the past decade, a
The rising cost of living didn’t appear to dampen strong result for long-term property investors.
demand for rental property, particularly in cities,
where a widespread return to office working was The average time to let in Edinburgh dropped
combined with a revival of the student market. to 16 days – 30 days quicker year-on-year. One-
bedroom properties let the fastest, in 13 days
Average Scottish rents rose 8.5% year-on-year (33 days faster).
to £896, while the average time to let was 20
days – 18 days quicker year-on-year, although Combining Citylets and ESPC data, we can
we must account for the 2021 Q1 lockdown reveal that one-bedroom properties in EH5 and
impacting market activity at the time. One- three-bedroom properties in EH8 produced the Springwell is a development of 48 houses and apartments, just 10 minutes’ walk from
bedroom flats, with an average rent of £646, best rental yield in the Edinburgh marketplace, Haymarket Station. With great local amenities, it combines all the convenience of city
were the quickest to let across Scotland, with at 6.4% on average. centre living with easy access to the surrounding countryside by car or bike.
an average time to let of 18 days (20 days faster
year-on-year). In line with the evidence showing that city Only 14 homes remain, so call Behnam Afshar on 07967 322025
locations have experienced higher levels of to arrange a viewing or email behnama@amanewtown.co.uk
Edinburgh’s rental rates grew by 14.2%, taking demand, West Lothian’s private rental market
the average rent to a new all-time high of saw more restrained growth. Rental rates
£1,214 per month. Incredible demand saw rental here rose 7.9%, taking the new average rent
rates pushed up across the city, intensified to £803 per month, and the average time to
by a severe lack of available properties. Four- let reduced by three days year-on-year, letting
bedroom properties saw a 27% annual increase, within 14 days.

www.amahomes.co.uk/springwell-house
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.
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