(Edinburgh, 7/2/12) – Lettingweb today announced record January letting industry figures, with flats to rent in Edinburgh enjoying a substantial boost in several key metrics.
Properties are being let out quicker than ever, with 2 bedroom flats for rent in Edinburgh that were advertised in January of this year being let out in 6.6 days, down 75.37% from 26.8 days in the same month in 2011.
Steve Tigar, Operations Manager at Lettingweb, said: “We always expected a significant upturn in properties being let out in January as tenants resume their search for the perfect property after pausing for the Christmas break in December, but these figures perform above all of our expectations. Our statistics show that the rental market in Edinburgh continues to grow, and with such a sharp decrease in the time taken to achieve a let, this is a clear indicator that demand will continue to outstrip supply for some time yet.”
January’s time to let figures are also an improvement on the previous month’s, with December 2011 showing 18.1 days was the average time for 2 bedroom flats to rent in Edinburgh being let out, which is 63.84% longer than what was achieved in January 2012.
With such a surge in demand for flats to rent in Edinburgh, it is not unexpected that the rents achieved in this period of time have increased. The rent achieved for a 2 bedroom flat to rent in Edinburgh in January 2012 was £703.50, an increase of 4.4% from the previous year’s £673.80.
These figures are expected to continue to improve as the year progresses, as Lettingweb look to provide an increased volume of quality tenant and landlord leads for its member agents
Lettingweb.com is one of the UK’s most comprehensive residential letting property portals. Based in Edinburgh, Lettingweb.com offers nationwide coverage of the UK rental market, with thousands of properties to rent in Scotland, England, Wales and Northern Ireland. Lettingweb.com provides tenant enquiries, free landlord enquiries and resources to letting agents across the UK.
Tel: 0131 557 7757