Last week, a landlord came in to our office to discuss
the rising property values in Edinburgh. He owns a varied portfolio of rental
properties, primarily in Edinburgh, and is thinking of buying more properties so
he was interested in comparing the increase in property values around the area.
Over the last 5 years the average property value in Edinburgh
has risen by £40,000, from £220,808 to £260,438. This is an increase of £152.42
per week. When you dig a bit deeper, the values for flats has performed the
best in percentage increase terms with the average increase of flats over the
last 5 years being 18% or £39,603 or £129.65 per week whereas semi detached
houses have performed the worst in percentage increase terms as they have only
seen an increase of value of 15% or £15,703 or £171.90 per week over this
period. The value of detached and terraced
houses has increased by 16-17% so they are somewhere in between flats and semi
detached houses.
When we looked at some of the surrounding towns, what we
found was very interesting as their property prices have all increased less
than Edinburgh other than Balerno. Balerno
has had the highest average increase in property value at around £161.54 per
week with Juniper Green being not that far behind on £147.42 per week, followed
by Kirkliston on £130.43, Currie on £125.48, South Queensferry on £111,95,
Dalkeith on £103.33, Penicuik on £91.18, Musselburgh on £84.10 and finally
Livingston on £82.24 per week.
So overall average property values in the area have risen
which suggests that the local property market is recovering although, as
always, there are pockets that are doing better than others.
When considering this landlord’s buy to let portfolio,
the rental values have also been increasing over the last 5 years.
So with rising property prices and rents, it could be a
good time to invest in the property market in Edinburgh.
We hope you find our posts useful. If you would like some advice with your
potential investment, please call us (on 0131 603 4570) or email us (edinburgh@thekeyplace.co.uk).
No comments:
Post a Comment