For the first time in over three years, the Edinburgh rental market hit a significant milestone on November 8th: the number of properties available for let on Rightmove surpassed 1,000. This increased choice marks a welcome slowdown in the rental market for would-be tenants, offering prospective more options and greater flexibility.
This shift in availability could signal a turning point for Edinburgh’s market. With more properties on the market, renters may find that the high-demand environment of recent years is easing, giving them the chance to make more thoughtful choices about where they want to live. It will also reduce the rate at which rents have increased over recent years. For landlords, this means adapting to a more competitive environment, where quality and service play a crucial role in attracting and retaining tenants.
At Umega, we’re closely monitoring these changes and their impact on both renters and landlords. If this trend continues, we could see a rebalancing in the rental landscape, which, after years of low availability, may bring positive changes for everyone involved in Edinburgh’s property market.
In the chart below, it’s clear that the yellow line of 2024 has been higher than each of the previous two years and on the 8th of November, the 1,000 property milestone was passed.