Lockdown continues and the number of available properties on the Edinburgh rental market has climbed again over the last month after it had temporarily flattened off in January.
The market is moving though, with more lets agreed in February 2021 compared to 2020. Rent prices are slightly lower than a year ago which is consistent with the larger number of properties on the market and tenants having more choice than in previous years. The behaviour of the market is stable and we’ve been seeing consistent levels of interest from prospective tenants and new tenancies agreed.
The good news and optimism coming from scientists, politicians and the media relating to the lifting of COVID restrictions over the next few weeks means that activity in the rental market will increase and the volume of available stock will be reduced as a result.
Available stock is high, there are reasonable levels of activity in the market relating to new lets and we expect a lot of action in the market once the restrictions start to relax. We saw it last June when restrictions were eased and it will undoubtedly happen again as soon as people can move more freely, making house moves and slowly but surely moving towards a more normal way of living again.
Hold on to your hats.