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lulu

Rents In Edinburgh

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Hi,

After a recent falling out with my letting agents I suspect I will need to be finding a new place soon.

I have been looking at rentals and there seems to have been a big jump in prices since I was last paying any real attention to this last year.

A one-bedroom flat has just come on in my block in Morningside at £550 a month, I know this is the asking price and there is no guarentee anyone will pay it) but my current flat was advertised at £475 less than 12 months ago. I have been looking further into things and this almost seems to be the going rate right now, which is in anyones opinion just a bit mental - though with a selling price of £150K it maybe is not too bad?

Has anyone else noticed anything similar?

(edit as it posted too soon....)

Edited by lulu

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That reminded me - just done Rental stats for May in Edinburgh - for 2 bedders though.

On the Edinburgh facts and figures thread. Not much change really. There ar a lot more 1 bedders appearing for sale though - maybe this is having an effect ? Although asking prices for rent are very different to what you can get I imagine.

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That reminded me - just done Rental stats for May in Edinburgh - for 2 bedders though.

On the Edinburgh facts and figures thread. Not much change really. There ar a lot more 1 bedders appearing for sale though - maybe this is having an effect ? Although asking prices for rent are very different to what you can get I imagine.

Purely as an anecdote, the 2-bed maindoor flat we have been renting in Marchmonst for 2 years at £850 pcm has just been let to someone else for £1000 pcm!

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I think there was a sweet spot for rents last year due to lots of 'can't sells' going landlord. Apparently the rental supply is down this year, presumably because the sales supply is up. I'm definitely going to hang on to my cheap place as long as possible, and will politely refuse to pay for any rent increases. Not that they've asked for any yet.

On the other hand, a 1 bedroom ground floor in the New Town was £550 to rent 5 years ago, so rents don't appear to have gone up much overall.

SelfDoIt

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Hi all,

I'm new to the forum so go easy........

I'm living abroad and wanted some impartial advice on what's happening back in Auld Reekie as I've been away for a while. Stopped believing the Scotsman a long time ago...

I've got a one-bedroom flat in the New Town which I rent out, at considerably cheaper than £550 a month I might add. As long as my tenants are happy then so am I.

Is £150,000 really what 1-bedders are going for right now?! Seems insane to me - I'd bite your arm off for that. In fact I'd let you bite my arm off for it. So is this a normal price or what? It's a good location in the NT and an OK size.

Cheers,

Feet.

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Is £150,000 really what 1-bedders are going for right now?!

Yes, in certain bits of town. Certainly Morningside/Bruntsfield and probably New Town.

Even in Gorgie you would not get much change from £120K for anything half decent.

Utter madness, especially when I think you would be lucky to get £500 a month for a flat costing £150K and to buy it (at sensible salary mulitples) now requires a salary of ~ £40K

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This is a busy time of year for rentals, with lots of flats changing hands as the students move on and some landlords clear folk out to let flats for the festival in a few weeks. Reasons why I never looked to move flat at this time of year. Hence agents and landlords tend to ask for that bit more. Also, its easier to entice people to view flats in decent weather, rather than trailing in and out of tenements in the pishing rain.

However, one of my mates has sold up and was looking for a 2 bed rental (no new builds), in affluent parts (New Town/Inverleith/Stockbridge/Trinity). Rents were exactly the same levels as when I was looking last Oct/Nov in the same areas. His new landlord even offered (unprompted) a discount on the advertised rent in order to seal the deal.

Rents in Edinburgh have barely increased in the 12 years I have been here. I was renting a one bed by Leith Links in 1999-2000 for £450 and until late 2009 I was renting a very large one bed in the same area for £495.

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  • 259 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
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      • Even
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      • up 5%



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