Growth for Edinburgh’s rental market despite Brexit uncertainty
One of Edinburgh’s largest letting agents, Braemore, has reported a surge in interest from landlords in the weeks following the Brexit vote, suggesting the Edinburgh lettings market is confident despite large-scale political and economic uncertainty.
Braemore has reported a 40% rise in landlords signing up to its letting and property management services compared with this same time last year.
This comes at a time when the recent UK House Price Index showed a 5.4% rise in average sales prices of Edinburgh properties.
The rental market also appears to be continuing to grow with the average return to landlords last year up 6.8% (returns have grown by 20.5% in the last three years).
Braemore Chief Executive, Ian Lawson said:
“Confidence in Edinburgh’s property market remains high and for us it’s very much business as usual despite concerns around the Leave vote.