According to the recent Lettingweb report from winter 2016 (Dec, Jan, Feb), in most regions of Scotland properties are being rented out quicker, demonstrating increasing market demand and lack of sufficient stock. Rent increases remain modest overall in Scotland, with Aberdeen still declining.
Edinburgh continues to be the strongest performing Scottish city, with two bedroom rents increasing by 5% to (£847) over the past 12 months- continuing the trend of almost consistent quarter by quarter growth over the past few years. Rents of one and three bed flats grew even quicker (7% to £653 and 8% to £1228 respectively).
The marketing period (TTL) for properties has remained constant at 16 days compared to winter 2015, which is a little slower than Autum 2015, however that is to be expected with the festive period falling in the middle of the winter quarter. One bedroom properties are let out faster than others, 12 days in this quarter and one bedroom properties in EH6 being let in under 10 days.
Notably, properties in EH1, EH3, EH5 and EH9 have seen strong growth across the board with double digit growth in three bed rents.