September News Bulletin

September News Bulletin

Strong Scottish property market weathers indyref uncertainty

The Scotsman reports; Scotland is experiencing its strongest property market since 2008. READ MORE.

Cullen Property opinion:

If the UK political turmoil of the recent past has discouraged you from investing in Edinburgh property you may be pleased to hear that Scotland is now experiencing its strongest property market since the 2008 recession. According to the Scottish Property Outlook seminar, Scotland’s improved property performance is partly due to the resilience of Scottish buyers who have become used to the political turmoil, partly due to the number of investors attracted to Scottish property since Brexit’s drop in the pound and finally the significantly reduced prospect of Scottish independence. If you would like to discuss investing in Edinburgh property, why not contact our expert investment team?

Scottish rents hit highest total since February

The Property Reporter reports; The average rent in Scotland was £575 during July 2017, with Edinburgh and Lothians being the most expensive with an average rent of £662 a month. READ MORE.

Cullen Property opinion:
The Edinburgh rental market continues to show steady sustainable growth which is good for our current landlords as Edinburgh rents reach their highest average of £662 a month! The Scottish property market’s performance seems to be growing stronger each month with rents rising, an increase in the amount of people looking to rent property in Scotland rather than buying, and an increase in the amount of investors trying to invest in the Scottish property market. Population growth predictions in the city and an array of large scale private and public development and infrastructure projects (e.g. New Queen Elizabeth bridge) all appear to suggest that this trend will continue for the foreseeable future.

Average house price in Scotland soars to almost £150,000

STV News reports; Edinburgh had the country's most expensive average property price at £243,920. READ MORE.

Cullen Property opinion:

The latest figures from the UK house price index has shown the average property prices in Scotland in July has risen by 2.8% in July compared to the previous month and 4.8% higher than July 2016, soaring to an average of almost £150,000. The average property price in Edinburgh has risen to £243,920 – an increase of 10% since July 2016. This is good news for our landlords as they continue to see the capital growth of their Edinburgh property investments excel!

Asking price growth in Scotland outpaces the rest of the UK month on month

Property Wire reports; Asking prices in England and Wales have fallen this month compared to August, down 0.1%, but they are up in Scotland by 1.5%. READ MORE.

Cullen Property opinion:

The Scottish property market appears to be the most solid in the UK with a month on month growth of 1.5% and an annual growth of 3.4%. The demand for Scottish property is outstripping the property supply, and is partly the reason for the solid property price growth. Investors considering investing in Edinburgh property face steep competition. However, our Cullen Property investment team will guide you through the process step-by-step.

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