Have numbers of available properties in Edinburgh already peaked in 2022?
Looking at what happened on the Edinburgh rental market in May, there’s a surprising story relating to the volume of available rental properties on the market. The total number of available properties in Edinburgh remained almost static compared with April. This is not the increase in available properties that we expected to see.
There were over 1,000 new properties advertised on the market in May but only 788 on the market at the end of the month compared with 771 the month before. This shows the very high level of demand and activity on the rental market in Edinburgh at the moment.
We’re experiencing this first hand at Umega where many prospective tenants are perplexed as to what they have to do to secure a quality rental property such is the speed with which new properties to the market are receiving multiple offers.
It is our hope that the number of available properties on the Edinburgh market will increase over the next few months to ease the intensity in the market that tenants are experiencing. Available property numbers may have already peaked for the year now that the majority of student properties have been snapped up ahead of the next academic year. Tenants who are in the market for a new rental home will hope that this is not the case and there will be more properties to choose from later in the year.
If you are a property owner thinking of renting out a home in the private rented sector in Edinburgh, please get in touch. There’s never been a greater need for quality rental properties in Edinburgh.