Howsy: Number of rental properties hitting the market rises by 44% in Edinburgh

Jessica Bird

May 19, 2020

As restrictions on the property market due to COVID-19 begin the process of easing, the number of rental properties hitting the market has risen by 44% in Edinburgh. 

This is the highest increase seen across 23 major UK cities, according to research by property management business Howsy.

There is a considerable gap between Edinburgh and Cambridge, which is second on the list with an increase of 19% and Aberdeen, in third place with 16%.

The number of rental properties available across the UK has risen by an average of 5%.

However, this average is driven by uplifts in just seven cities, while the rest have seen declines in rental stock levels.

London saw an additional 6,838 properties hit the portals immediately after lockdown restrictions were eased, which is the largest uplift in terms of sheer numbers. This equates to a 15% uplift.

Glasgow (6%), Oxford (5%) and Manchester (0.2%) have all seen marginal increases.

On the other end of the scale, Bristol has seen rental stock levels fall by 22% since April.

Bournemouth (-17%) and Plymouth (-17%) have also seen some of the largest declines.

Callum Brannan, founder and CEO of Howsy, said: “Many in the rental sector will be breathing a sigh of relief with such immediate green shoots of market activity returning to a number of cities following an ease in lockdown market restrictions.

“Of course, other pockets of the market will take longer to see this positive trend emerge as agents and landlords find their feet operationally.

“We’re certainly not out of the woods yet and the ongoing financial and health implications facing many tenants and landlords will continue to be an obstacle.

“However, now that we as an industry are able to facilitate them on a greater scale, we can at least start to rebuild momentum in the sector.

“Now, it’s vital that landlords receive the support and protection they need from us as an industry to ensure confidence in their investment, and to maintain a suitable level of rental stock to meet demand from tenants who rely on these homes in order to live.”

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