London Snubbed in Property Race
On the back of our most recent post on the London property market, we thought this would be an interesting addition. It appears London is being snubbed on several occasions by wealthy overseas house buyers, or property investors, who see Scotland as a safe investment. As always, the evidence is in the numbers, where in the last year £1.32bn was spent by overseas property investors, whereas Scotland attracted £1.33bn in investment. This is largely due to the much talked about property bubble in London. However, Edinburgh is going through its 5 yearly wave in property sales surge and price growth.
In addition to this is the higher yields that are available in Scotland than those in England. Property group JLL have predicted the average house price in Scotland will increase by 19.3% by 2020, and London will experience a massive 26.2% increase.