Investment Property News

The Scottish Government is offering Private Sector Landlords up to £500 towards the replacement of old and inefficient appliances in their rented properties. Further information is available at Landlord Green Appliance Scheme as well as other Landlord related energy issues on the Energy Saving Trust website.

Tenants in Edinburgh are paying the highest private rents in Scotland after strong demand has sent costs in the capital soaring. The latest report shows the capital’s West End area as the most expensive in Scotland with the average two bedroom home costing £972 per month. Five of the ten most expensive areas to rent in Scotland are in Edinburgh. The latest rise in rents reflects the continuing difficulty facing first time buyers trying to secure a foothold on the property ladder, with tight mortgage conditions forcing tenants to rent for longer.

For the second year in succession Dick Place in the Grange area of Edinburgh is Scotland’s most expensive residential street with an average price of £1,686,000.

According to the latest research from Bank of Scotland, half of the 20 most expensive streets in Scotland are in Edinburgh. A fixed supply of substantial family homes combined with the capital’s role as a financial centre have kept prices high with Ann Street in Stockbridge being the third most expensive street with an average price of £1,208,000. Four of the 20 top streets were in EH4, three in EH9, two in within EH1 and one within EH3.

The most recent poll of economists predicts that bank base will remain at 0.5 % until mid 2015 at the earliest. There is an outside chance that the Monetary Policy Committee will cut the rate next next year although that is now thought less likely with more focus being placed on the Funding For Lending Scheme. Forecasts now predict the first rate rise, by 0.25 %, will be in January 2017 and that by September 2018 base rate will be 1 %.

There are many good reasons why buying for offspring during their student years makes sense. For most parents it will be to ensure their children have somewhere to call home for the duration of their studies, avoiding the annual clamour for rental flats and to subsidise living costs. A student in rental accommodation for 4 years in Edinburgh will pay, on average, a total rent of £19,200. We have recently sourced and advised on the purchase detailed below.

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