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Up & Coming Scottish Property Hotspots
From a landlord’s perspective it’s important to know the best locations across Scotland to invest in. As a buyer on the hunt for a new home, you’ll be considering lifestyle factors and how to get the most value for your money.
Scottish Property Growth
Scottish house prices have enjoyed another bumper year, with growth outperforming the UK average and properties in almost every town now worth more than 12 months ago. Factors including Scotland's (relatively) affordable property, consistent returns on investment, and solid rental incomes make it an attractive prospect for landlords to build and expand their property portfolio.
A report from January 2022 (from magazine Property Industry Eye) stated that on average, residential property prices across Scotland increased by 8.8% over the past 12 months. The average home north of the border ended 2021 costing £207,778 – an increase of £16,761 on 2020’s figure of £191,017.
Motherwell was identified as the area in Scotland that recorded the greatest increase in property prices. Those prices rose by an average of 17.3%, according to Bank of Scotland data. The average price of a property in Motherwell now stands at £177,118, up from £151,105 12 months earlier.
Hamilton saw the second biggest increase, with the average price of a home in the South Lanarkshire town now costing £159,176, up 13.7% or £19,225 year-on-year. Unsurprisingly, the most expensive place to buy property in Scotland remains Edinburgh, where the average price of a property costs £293,406 – up 7% or £19,160 on last year.
Desirable Scottish Property Areas
A major aspect of finding the 'right' home is finding a great area to live in before things get too competitive. It must be noted that prolonged working from home has influenced where people want to live and the type of property they want to own. Major cities continue to be attractive, with commuting now less of a priority. Areas that offer more space and better affordability have experienced increasing demand from buyers.
A recent study crowned the picturesque location of North East Fife as the most up-and-coming property hotspot in Scotland. This was after analysis of more than 600 UK locations based on defining factors such as house price increases, quality of schools and increases in people searching for a move to the area.
From busy market towns to quaint coastal hamlets, East Fife has many attractive options for prospective buyers. Other up-and-coming locations in Scotland included Stirling, Moray, and Kincardine.
Voted the safest city in the UK (The Complete University Guide 2019), Stirling has quick rail links to Glasgow and Edinburgh and is the ideal location explore the rest of Scotland. Stirling has also previously been ranked 11th out of 189 towns and cities in the UK for quality of life by 21-44 year olds.
Moray is well known for its outstanding natural resources, renowned brands, world famous coastlines and high standard of living. Voted as one of the top 5 rural regions in Scotland for quality of life, Moray offers affordable housing, great schools and beautiful scenery.
Kincardine is near many rural locations (as little as 5 miles away) yet within 30 minutes you could be in Glasgow or Edinburgh. Stirling is also only a 15-minute drive and in an excellent central location for the whole of Scotland.