Edinburgh’s rental prices dip as failed sellers turn to letting

Rental prices in Edinburgh are coming down as the supply of accommodation is boosted by would-be sellers letting out their properties.

Increased availability of private rented accommodation dragged the average rent in the capital down from £813 a month in the final three months of 2011 to £796 in the first quarter of this year, according to the latest rental tracker from DJ Alexander.

It attributed the fall to the continued rise of the reluctant landlord – home-movers unable to sell and opting to rent out their properties until housing market conditions improve.

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The typical cost of renting a two-bedroom flat has dropped from £788 to £742 a month since the end of last year.

However, rents are still climbing in Glasgow, where the average price of renting a flat rose from £701 to £764 a month.