The cost of housing in Edinburgh and Glasgow will increase by 16.5 per cent and 13 per cent respectively by 2023, according to property consultancy firm JLL. This compares with a more moderate growth of 11.5 per cent expected for Scotland as a whole.
Edinburgh’s city centre’s office rent prices are likely to exceed £35 per square foot this year as a lack of supply will continue to drive up costs for the capital’s businesses, according to property advisor Savills.
The Vitality Index, which provides a comprehensive assessment of the health of UK cities and towns, ranked Scotland’s capital as the UK city with the best prospects for economic growth in the upcoming year.
House prices in Scotland reached a new peak in November 2018, with annual house price growth hitting six per cent, according to the latest house price index from YourMove/Acadata. This is compared with both England and Wales which have fallen by one per cent.