As we highlighted in our previous blog, Scotland is a very attractive place to invest in property. We wanted to highlight one area in particular that we believe to be exceptionally interesting for prospective investors and landlords – Edinburgh*.
There are a number of factors that make Edinburgh a potential paradise for property investment. First of all, the population in Edinburgh is growing faster than the rest of Scotland and is expected to increase 17% by 2039, which is significantly higher than the Scottish average of 7.5%. Combined with Edinburgh’s household growth outstripping the national average by 16% (47% to 31%) and average house prices projected to grow by 23.4% by 2021, what you get is a beautiful part of the world with a dynamic and growing property market.
Secondly, Scotland as a whole is a strong market with all property types showing an increase in average prices and, within this, Edinburgh has the greatest volume of sales (1,126). If you’re buying-to-let the demand for rental property has driven positive YOY growth in Edinburgh to an average rent of £1037 per month. The letting market is particularly strong because demand exceeds supply. Essentially, the prices are not expected to drop any time soon – now is as good a time as any to get a little parcel of the city.
The final reason that makes Edinburgh such a great place to invest in property is our enthusiasm. We know the city like the backs of our hands and we’re passionate about helping investors maximise their return on investment. Whether you’re a first-time investor or looking to build on an established portfolio of properties, our team of experts will be with you every step of the way.
*Unless otherwise stated, the statistics quoted above are from our Quarterly Property Investor Review.