March News Bulletin
Edinburgh to see property investment boom
Residential Landlord reports Edinburgh could be a hotspot for buy to let investment, as property prices are expected to rise by 23 per cent over the next four years.
Cullen Property opinion:
Are we experiencing an Edinburgh BTL property boom? We think so! Edinburgh is expected to grow even more popular for buy-to-let investors as property prices are rising, mainly due to the lack of supply vs. demand, with properties in the lower end of the market expecting to see the largest price increase. More people are likely to continue renting as it is getting increasingly difficult to get onto the property ladder.Buy-to-let proves popular with expat investors
Property Reporter reports British expats keen to keep a foothold in the UK property market have more opportunities to invest.
Cullen Property opinion:
We have always found Edinburgh property to be a popular investment choice with British expats, especially those with a connection to the city through family or education. The value of the pound dropped last year as a result of Brexit and we have found that this has made property in Edinburgh more accessible for overseas investors. We are also aware that many international investors view the UK as a whole as a safe haven for their money, particularly in a world of increasing economic uncertainty.
Edinburgh breaks into Global Top 5 for Property
The Scotsman reports Edinburgh has entered the world’s top five cities on a prestigious global property investment index.
Cullen Property opinion:
The amount of renovation and developments throughout the city helps highlight why Edinburgh is becoming so popular for property investment, as our thriving city is constantly developing. Current developments include; £1 billion on The St James Shopping Centre, £16 million on the Scottish National Gallery, £45 million on a new music concert hall, £43 million on Meadowbank Stadium, plus the potential development of the tram lines. Edinburgh was also named as one of 21 “new world cities” seen as redefining the investment landscape.
Scottish rental market starts 2017 on a high
Property Reporter reports the average property in Scotland now letting for £571 per month.
Cullen Property opinion:
It isn’t surprising to hear that rental prices grew faster in Edinburgh than anywhere else in Scotland - we have noticed a buzz around the Edinburgh property industry with rental prices increasing by 3.3% in the past 12 months! Rental demand continues at good levels with low levels of voids between tenancies. It is believed that landlords in Scotland are now seeing a better return for their investments than landlords in London, due to the changes in taxation and mortgage relief making highly geared expensive London property less attractive.
Welcome to happy town: 94% say they like living in Edinburgh
The Edinburgh Evening News reports 94% of residents say they are happy with Edinburgh as a place to live - one of the highest scores recorded anywhere in the UK.
Cullen Property opinion:
We love living in this vibrant energetic city and we are pleased to hear that so many agree. It is important for us to know that our tenants are happy with their property and surroundings. Edinburgh has so much to offer in terms of history, culture, education and entertainment and we want our tenants to have an enjoyable experience in their Cullen Property home.