February News Bulletin

February News Bulletin

Social Bite sleep-out will pay for 600 homes for rough sleepers

The Scotsman reports; Fearless fundraisers braving freezing weather in the world’s biggest sleep-out have helped rescue 600 rough sleepers from the streets.READ MORE.

Cullen Property opinion:

In December 2017, seven members of the Cullen Property team took part in Social Bite’s Sleep in the Park. We raised a significant amount of just over £12,000 and were the only letting agent to reach the top 50 corporate fundraisers! In total, £3,600,000 was raised from the world’s largest Sleep Out which will go towards eradicating homelessness in Scotland. Social Bite has released its 600 Homes Campaign which aims to take a minimum of 600 people out of homelessness in the next 18 months by giving them secure homes with fully-funded support. Thank you to everyone who supported us – this is a fantastic initial outcome from Social Bite.

Properties in Scotland 'selling for £10k more than the average asking price

insider.co.uk reports; Properties in Scotland are selling for £10,000 more than the average asking price, according to property analysts. READ MORE.

Cullen Property opinion:
The competition between first-time buyers and international investors looking to buy Scottish bricks and mortar has lead to an increase in demand which supply can not keep up with. The demand for these properties has driven up the selling prices, particularly in Edinburgh as the Scottish capital’s residential property market becomes ‘hot’, which in turn is expected to produce a competitive market throughout 2018.

Property taxes failing to take heat out of housing demand

The Scotsman reports; The Edinburgh residential property market is currently outperforming the rest of the UK’s top 20 cities. READ MORE.

Cullen Property opinion:
There has been a growing demand from international investors hoping to snap up Edinburgh residential property in prime city centre locations. The introduction of LBTT (Land and Building Transaction Tax) and ADS (Additional Dwelling Supplement) seems to have made little impact on the buoyant Edinburgh residential property market.

Edinburgh and Glasgow house prices set to soar

The Scotsman reports; House prices in Edinburgh and Glasgow are set to grow by 22 per cent and 17 per cent respectively over the next five years to 2022. READ MORE.

Cullen Property opinion:
Edinburgh’s population is growing by over 5,000 people each year. The demand from buy-to-let investors, first-time buyers and the wider market is leading to multiple bids for each property on the market. Edinburgh’s rental forecast for the next five years is 3.3% increases per year. This is significantly higher than the UK wide forecast. If you are looking for a promising 2018 investment opportunity, Edinburgh buy-to-let property should be on your investment radar.

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