Why choose Edinburgh For Property Investment?
Ranked no1 in the 2022 Colliers list for 'UK residential investment opportunities', Edinburgh is hardly a big secret to property investors.
Solid house price growth, highly educated residents and predicted population expansion ranked it top of the UK list above previous top performers like London, Oxford and Cambridge.
Remarkably, even though Edinburgh is Scotlands capital city - the UK’s 2nd most important financial city second only to London - it is still possible to buy investment property for under 175k in great areas that are only 15 minute walk to the city centre.
Average Edinburgh yields sit well above the UK average at 4-6%, however figures of up to 8% are achievable, particularly with HMO investment properties, or if you head further out of town.
Edinburgh was named best city for business outside London in 2022 - with a notable expansion of the digital, science and tech sectors. The city boasts a historically low unemployment rate and a high standard of living compared to the UK average. Add to this a world famous tourism industry which accounts for over 3 billion per annum into the local economy.
Over 55,000 students (12% of the city’s population) reside in the city across 3 main universities, drawn by the city's elite education institutions, vibrant entertainment and arts culture and Edinburgh's renowned world heritage status.
In terms of population, the city's metro area population of 548,000 rose by 12% in the last decade - well over the average 3.9% growth across Scotland, and outperforming London. Edinburgh is expected to continue to grow at 3 times the national average.
Property prices continue to rise at levels above the Uk average. Annual price growth reached 8.9% in March, the strongest rate since the end of 2018.
(https://www.knightfrank.com/research/article/2022-04-22-edinburgh-property-market-remains-hot-as-demand-continues-to-outstrip-supply). However economists warn that factors such as higher mortgage rates and inflation should most likely put the breaks on the record price growth in the second half of the year - good news for those looking to invest in the city as the stiff levels of competition begin to ease.