it’s undoubtedly fantastic news for lettings companies and landlords.
But warnings of Edinburgh’s soaring rents are not so welcome for others.
There is a real danger that those on lower incomes who have not already been priced out of the Capital’s housing market may soon find themselves struggling.
We have already reported on the city’s rising house prices which, again, while great news for some is terrible for first time buyers.
The natural side-effect of that is rising rents which is exactly what we are now seeing.
Rents in Edinburgh have gone up to an average of £726 while at the same time it’s becoming cheaper to live in Glasgow.
What this situation risks is young skilled workers abandoning the Capital as unaffordable. That in turn puts pressure on our public services, particularly the NHS which can well do without any more recruitment problems.
There has been a desperate need for affordable housing in Edinburgh for years and the situation is now becoming critical. Developments like those announced today by the Port of Leith Housing Association will help the situation but much more is needed. And if today’s figures are to be believed - quickly.