Image1\

Housing



UNITED KINGDOM: Significant increase in housing prices forecasted in Scotland

A new report from JLL residential research has highlighted that there might be a significant increase in prices for housing in Scotland over the next five years.

They have acknowledged that the average is raised mainly by the cities of Edinburgh and Glasgow; but in either case JLL believe that these new and steady increases should help to make the housing market less volatile in the long term.

House prices in Edinburgh will increase by approximately 4.1% per year and rental prices are also expected to increase by 3.3%. House prices in Glasgow city centre are expected to increase by about 3.2% and rental prices are also expected to increase by 3.2%.

In Edinburgh the increases in house prices have been attributed to the fact that there is not enough development of new housing to account for the demand. Further, there has been increased interest from buy to rent investors and first time buyers; this in turn has led to frantic bidding at the last moment only fueling the increase in prices.

Comparatively, in Glasgow the potential increase in prices is said be affected by the growing build to rent sector which has been touted as a much better long term strategy to alleviate the supply and demand issue that is facing the housing market currently.

How does this affect the client?

Employers with employees seeking housing in either Edinburgh or Glasgow should take these changes into account but especially for Edinburgh as it appears from the report that there will be a shortage in affordable housing in the coming years. Therefore employers should perhaps start looking at housing options earlier and update their processes for home search accordingly.

  

 

 

 

You are here: Home Housing United Kingdom Significant increase in housing prices forecasted in Scotland
FacebookTwitterLinkedin