March News Bulletin

March News Bulletin

This city knows how to party: why now's a good time to buy property in Edinburgh 

Homes and Property reports; Edinburgh is the UK’s second most visited city after London, with four million international tourists a year. It is also second only to London among British cities with the most FTSE 100 companies and has a strong reputation for tech start-ups. READ MORE.

Cullen Property opinion:

There are many reasons why Edinburgh is a city worth investing in. Firstly, as well as being a capital city, everything is compact and within easy access to the country and seaside. Secondly, Edinburgh has four universities which attract an international audience. Approximately 42% of students decide to stay in Edinburgh after graduating, lured by the capital’s lifestyle and the rising number of professional job opportunities. Thirdly, the abundance of greenspace in Edinburgh contributes to the enjoyable surroundings and outdoor activities on offer in the city.

The proposals for the extension of the tram line to Leith will attract more investment into Leith, Newhaven, Crammond, Granton and surrounding areas. If you are considering investing in Edinburgh property, bear in mind that the city is expanding. These areas will increase in demand while being incredibly accessible to Edinburgh’s city centre.

Property price growth in Scotland continues to dwarf the rest of the UK

Property Industry Eye reports; Property prices in Scotland are now growing eight times faster than the rate of England and Wales. READ MORE.

Cullen Property opinion:
The average price for a home in Scotland is now £179,448, increasing by 1.48% per calendar month. This is the largest increase for more than a decade. The Edinburgh property market is driving Scotland’s property price growth. The number of sales on prime properties over £750,000 over the past 12 months has increased and the tight availability of prime Edinburgh property is encouraging steep competition from international investors and first-time buyers.

Total value of Edinburgh property revealed

Edinburgh Evening News reports; Property in the Capital is revealed to be £68.4 billion, with the total value ranking the Capital sixth in UK cities in terms of property value. READ MORE.

Cullen Property opinion:
Edinburgh property is worth £68.4 billion, ranking Scotland’s capital sixth in UK cities in terms of value, coming behind London, Bristol, Glasgow, Birmingham and Manchester. However, as the London property market slows, and Edinburgh property becomes increasingly in demand, property prices in the city are steadily increasing. The study conducted by Zoopla found that the two areas in Edinburgh which are of exceptionally high value are Dean Village and Comely Bank.

Edinburgh 'UK's most attractive city to live and work in'

STV News reports; The capital is rated highly for earnings, education and access to green space. READ MORE.

Cullen Property opinion:
We wouldn’t argue! The study reviewed nine categories which gave Edinburgh the edge over other significant UK cities. Edinburgh has been named the UK’s most attractive city to live and work for a number of reasons. These include; access to education, the rising number of job opportunities, a strong employment rate of 70.8%, the capital’s thriving business community, the substantial average Edinburgh salary, an abundance of green space, access to healthcare and cultural services and the city’s housing costs. Edinburgh is a thriving and vibrant city with a diverse economy and an increasing population with strong investment potential.

Edinburgh's St James project 'on track to open in 2020'

STV News reports; Developers of the Edinburgh St James project say the new retail centre is on track to open in October 2020. READ MORE.

Cullen Property opinion:
The £850m St James development is due to open in October 2020. The regeneration of Edinburgh’s east end is bringing a wealth of investment to the area. It is estimated that the opening of the new St James centre will provide 3,000 jobs. As well as a retail centre, the project will include a leisure complex, hotel and 150 high-end apartments. Upon the lead up to and completion of the St James Centre, we predict property close to Edinburgh’s east end to steadily increase in value. Therefore, if you are considering investing in Edinburgh residential property we would recommend keeping an eye on Edinburgh’s east end, Leith Walk, Easter Road and Abbey Hill areas.

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