May News Bulletin

May News Bulletin

Rental yields for landlords in Scotland solid and reliable, latest index suggests

Property Wire reports; Rents across Scotland increased 0.6% year on year and 0.2% month on month to an average of £570 in March 2018, the latest index shows, with yields outperforming other parts of the UK. READ MORE

Cullen Property opinion:
Data from the Your Move index reflects that Edinburgh rents have increased by 2.6% year on year and yields have outperformed other parts of the UK with Scottish returns for landlords outstripping England and Wales. The average Scottish property is generating a yield of 4.7%, whereas the average property in England and Wales is generating a yield of 4.4%. The Scottish residential property market has been resilient over the past 12 months. This stable outlook is encouraging for landlords and investors who are considering investing or re-investing in Scottish property.

Edinburgh’s growing population and tech sector draw investors from the UK and overseas

The Financial Times reports; On the eastern periphery of Edinburgh’s Old Town is Arthur’s Seat, a rocky mound that was once an active volcano. The only risk of eruption these days comes from the city’s property market, in which house prices increased 10.2 percent on average in the year to December 2017, according to estate agents Savills. READ MORE

Cullen Property opinion: Edinburgh is one of the fastest-growing markets in the UK, with residential property prices having increased by 10.2% on average in the year to December 2017. The overall demand for the ‘Edinburgh experience’ has been a key factor in price growth, with the population increasing by 25,000 between 2011 – 2016 leading to the demand for properties quickly outstripping the supply. Individuals are drawn to live in Scotland’s capital by the education, employment, quality of life and affordability on offer. Employers are drawn by the affordable office and labour costs and by The University of Edinburgh – with over 40% of it’s graduates deciding to live in the city after completing their studies.

Annual property price growth soars in Scotland, outpacing rest of UK

Propertywire reports; Property prices in Scotland increased by 7.7% in the 12 months to March 2018, soaring ahead of growth in the rest of the UK, the latest index data shows. READ MORE

Cullen Property opinion:
The Scottish residential property market is going from strength to strength. The latest index report from Your Move reports in the past 12 months property prices in Scotland have increased by 7.7%, soaring ahead of growth in the rest of the UK. The growth in values is led by Edinburgh, having increased on average by 14.5% year on year. These figures outpace England where annual prices have increased by just 1%. The strength of the Scottish residential property market is a combination of factors including low interest rates, strong competition among mortgage providers, high employment rates and impressive weekly earnings. The increasingly high demand to live in Scotland along with the lack of housing supply is contributing to rising house prices.

Edinburgh named one of the best cities in the world for students

The Scotsman reports; According to the table produced by QS higher education data analysts, the capital is the 16th best city to be a student. The city is listed as the second best city in the UK, behind only London which topped the rankings. READ MORE

Cullen Property opinion:
The table produced by QS higher education data analysts has voted Edinburgh as the 16th best city in the world to be a student, coming second in the UK behind London. There are many reasons why Edinburgh is globally recognised as being a fantastic city for students. Firstly, there are four acclaimed universities with a large student population (approximately 75,000.) Secondly, the internationally diverse community in Scotland’s capital has been an influential factor for students from across the world. Thirdly, the high standard of education on offer, access to higher education and the affordable student fees has also made Edinburgh an attractive prospect.  As well as being a beautiful city in which to study, the availability and structure of Scotland’s degrees and the financial possibilities of becoming a student in Edinburgh help reflect why Edinburgh is one of the best cities in the world for students.

Cullen Property strengthens senior management team

The Edinburgh Reporter reports; Edinburgh residential property investment and lettings specialist Cullen Property has appointed Steve Coyle as its new Managing Director. The appointment, effective 21 May 2018, follows the retirement of co-founder and current MD Malcolm Warrack. READ MORE

Cullen Property opinion:

This month sees the appointment of Steve Coyle as our new Managing Director. This follows the retirement of co-founder and Managing Director Malcolm Warrack. Malcolm is stepping away from his full-time role, but will continue to support the company’s growth and development as a Board Director. Steve has been an integral part of the Cullen Property team and the company’s growth since 2003, playing a key role in developing our client and property portfolio as well as helping position Cullen Property as a leading Edinburgh-based letting agent.

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