Thinking of investing in Edinburgh property? Now is a great time to invest… Why?
Edinburgh’s private rental market is the largest in Scotland with 107,256 people living in rented property in 2011. 25% of the Edinburgh housing stock is rental stock – this compares to 12% in the rest of Scotland.
The population of Edinburgh has grown from 450,000 in 2001 to almost half a million today – this is set to increase further making Edinburgh one of the UK’s fastest growing cities.
The Average monthly rent in Edinburgh has stayed very stable during 2013 and now stands at £820 compared with the Scottish average of £687.
Scottish rents continue to rise with Edinburgh outperforming other cities, and the time is taking to let properties in the capital is falling due to demand outstripping supply.
Below is the average monthly rent for different sized properties in Edinburgh:
1 Bedroom £564
2 Bedroom £751
3 Bedroom £1053
4 Bedroom £1472
It will only take around a month for around two thirds of Edinburgh properties to be let on average and only a week for a quarter of all smaller 1 & 2 bedroom properties. This will likely continue because of the consistency of Edinburgh’s competitive, thriving rental market.
The fastest growing population group in Edinburgh is the 18 – 35 age groups who are the most likely renters and over 1/3 of the population fall into this age bracket.