Edinburgh might be an interesting area to invest in when looking for a house for sale in the UK as it is a unique area in the county of Midlothian.
Before looking for a house for sale in the city of Edinburgh we strongly suggest landlords and real estate investors to research in detail and consider all involved factors. Indeed, house prices can change quite a bit depending on the square foot of the property, the number of rooms, the economic climate, the location of the house and more.
In this data heavy article the reader will be able to find out more on the topic and see the specific data to consider when evaluating different houses for sale in Edinburgh.
How are rental yields of the houses for sale different to the rest of the UK in Edinburgh?
The figure of rental yield is commonly looked at by investors who wish to increase their income by investing in areas where rental yields of the houses for sale are higher. Usually, the higher the rental yield, the more attractive a house for sale is for an investor.
Nonetheless, there are also instances where an investor will go with a house with lower yields in order to benefit from the appreciation of a house too which is why it’s vital to look in to all the details of Edinburgh.
The data below shows the rental yield, rent turnover and the percentage of the money made on the sale of a house. The data is broken down into the county city is in (Midlothian) as well as the broader region; Scotland.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Edinburgh | 5.0% | £1,250 | 140% | 48.3% |
| Midlothian | 4.89% | £1,194 | 140.00% | 46.89% |
| Scotland | 5.48% | £871 | 125.36% | 59.40% |
Also, you can compare other data to the table above such as the number of houses sold per month in Edinburgh which is 449 and get a better understanding of the housing market.
This is great if you want to gauge if investors are actively looking for houses for sale in the area over other areas in the UK which may be an induction of how profitable Edinburgh is to invest in. Both in terms of rental yield and capital appreciation.
Are there new houses being built in Edinburgh to make it grow?
Before making an investment and move forward with buying a house for sale, another important set of data an investor should analyse is the growth trends of the area in question.
Below are the forecasted growth rates for the city of Edinburgh at 1 year, 3 year and 5 year intervals:
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Edinburgh growth rate | 1% | 10% | 68% |
Examine this figure carefully as the addition of a lot of new houses to meet demand could mean that house price of the houses for sale in Edinburgh gradually reduces with an increase in the housing supply. This could be a good indicator to understand if your house will appreciate or not. Too many houses and too much supply could drive down the prices of homes or stagnate them. So be sure to check out what is exactly happening in Edinburgh.
In general, what do houses for sale sell for in Edinburgh?
In Edinburgh, the average sale price of a house for sale is in fact £267,506. This is dependent on the 10 year population growth of Edinburgh being 12%. Growing populations are more likely to inflate the prices of houses for sale in the city of Edinburgh.
| Housing category | Total final sale price |
|---|---|
| Aerage sold price (detached) | £494,877 |
| Aerage sold price (semi-detached) | £320,832 |
| Aerage sold price (terraced) | £319,799 |
| Aerage sold price (flat) | £225,054 |
The list below is able to inform you of what these prices are. Giving you an accurate estimate of whether a landlord is likely to accept your offer based on the prices of the houses for sale in Edinburgh.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £2,847 |
| Aerage sold price/sqft (new build) | £2,529 |
| Aerage sold price/sqft (old stock) | £3,156 |
Evidently, certain types of houses for sale will have different types of demand and this will be reflected on the final price.
On average, the cost of a house for sale per square foot works out to be £2,851. This means if you are just looking out the houses sold in Edinburgh in general and didn’t take into consideration the type of build. For example, a new build.
On average, what is the figure for the asking price of a house for sale in Edinburgh?
When speaking about the city of Edinburgh, £303,837 is the asking price for a house for sale.
We have compiled a table of data so you can know the asking prices of the specific size of home you’re most interested in. As you can imagine, a family looking to move out with children would be after a larger house than someone living alone in Edinburgh.
The data is in fact very different compared to the number of rooms you’re interested in having in your home and the asking price also tends to go up in staggering amounts as you add rooms.
In the city of Edinburgh, what is the average asking price for the houses for sale?
| Average asking price (1 bed) | £205,914 |
| Average asking price (2 bed) | £257,380 |
| Average asking price (3 bed) | £343,301 |
| Average asking price (4 bed) | £507,598 |
| Average asking price (5 bed) | no relevant data for this city |
After looking at this table about prices of houses for sale in Edinburgh, someone who is buying a home would be able to know in great detail what kind of house for sale available on the market best suits the amount of money they are looking to invest. Also, using a more general figure like the average asking price per square foot of a property which is £444 will help them to have a more wholistic understanding.
What are the demographics like in the city of Edinburgh?
What salary does the community in Edinburgh take home?
By and large, a higher household income in a population can have positive effects on the crime rate and the quality of space. This is due to the fact that higher earners tend to buy houses where there are better schools and more desirable amenities that impact the quality of life someone has.
In Edinburgh, the average income is no relevant data for this city. Measuring this figure against the average household income for the UK of price34,000 should tell you if the city is higher or lower earning.
When buying a house, use this statistic with other factors when making a decision too like the crime rate or the social grade score of no relevant data for this city to decide on what the demographics are like in the area.
Edinburgh within Midlothian is notable for the type of people that live there. The statistics below show how this is the case.
As you read on, Edinburgh will be looked at by comparing it to the local region, as well as comparing it to the wider region too (Scotland). From what the population of the city is to how it’s growing as well as factors like the overall crime rate.
This data is impacted by the history of the area and what kind of industry there is around. All of which also impact house prices which is crucial for you to understand as you look at houses for sale in Edinburgh.
In the city of Edinburgh, is there a lot of green space?
Providing the right amount of green space for people in the UK is a difficult subject because there are clear benefits for human health but at the same time, it is hard to make sure all areas of the UK can get enough greenery. This is a result of land being already in use in cities where most people live.
In Edinburgh, 20.0 is the amount of acres of outdoor space there is for every 1000 people. Charities such as ‘Fields in Trust’ recommend there to be at least 6 acres. This should allow you to conclude whether this green space is sufficient for you if you are interested in buying in Edinburgh.
Are the deprivation levels of the UK any different to Edinburgh?
Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Edinburgh, currently, no relevant data for this city people fall into this category.
Measuring this statistic against the nationwide average of 33% should give you a pretty good idea of where the city lies in the scale of poverty in the area.
What is the city of Edinburgh’s social grade score?
The social grade of a city is useful when searching for a house for sale because it tells you what kind of jobs people have in the area. For example, there could be a lot of skilled manual workers or there could be a lot of pensioners and people on benefits.
The scale goes from a social grade of an A who are high managerial, administrative or professional workers to an E where people in this category are on state pensions, casual workers or unemployed on state benefits.
The number of people in Edinburgh in grades A or B which are the highest skilled roles in the country is no relevant data for this city. Realistically, you can expect workers in this category to earn a higher salary too.
For comparison, no relevant data for this city is the average household income of the area. You can see how this figure is congruent with the number of people in the top two categories of the social grade at no relevant data for this city.
In Edinburgh, what is the crime rate?
For the city of Edinburgh, crime rate is at 12. So for every 1000 people in the area, 12 commit a crime which is prosecuted. Paying close attention to this figure of crime rate is not only important for the value of a house but also to calculate the maintenance cost of owning a house and how attractive an area can be for future buyers.
So, compare it to the nationwide average of 79.52 per 1000 people and consider if you are happy with this figure based on the price you’re paying for a house you’re interested in.
On top of this, houses that are in areas where there is a high crime rate tend to have to pay higher insurance rates, costing a homeowner in the long term.
Additionally, paying for further security on a house such as CCTV or potentially gates and fences that deter thieves may be necessary for an area with a high crime rate.
What is the education level like in Edinburgh?
In the city of Edinburgh, no relevant data for this city of people have degrees. In general, as the number of people who are highly educated goes up, the more likely they are to have the ability to buy houses as their annual household income goes up too.
So you can see for yourself, the average income for the people of Edinburgh is no relevant data for this city. This generally goes up with the education level of the area. Additionally, looking at the difference between the proportion of people with degrees and the UK average for this statistic (22.6%) should give you an idea of the affluence and education of the city.
A higher education level can therefore tell you if the house prices are likely to be high as the higher income level often results in people buying a bigger, more valuable house.
Having said this, whale education level can be a good factor to go by, there are also things like the rental yields, the population growth and social grades scores that can impact the value of a house and whether it will go up in value as time goes on.
What does the population of Edinburgh look like?
In total, the number of people in Edinburgh is 264,288. This figure can be used to estimate the appreciation of the houses but it is also important you look at the population growth figure in order to make this more accurate.
Whether a large population benefits you as a landlord is dependent on what you want from a home. A large population is great if you have children who prefer the bustle of crowds in cities but there are also those who purposely want to buy somewhere rural.
You may also be able to find a balance of both where there are shops, restaurants and entertainment and also rural areas all within a short distance which may be the case ni Edinburgh, depending on where exactly you are.
How has Edinburgh changed in the past five years?
Five years provides enough time for a city to grow dramatically. It may be the case that the population grows or shrinks but the city of Edinburgh has changed by 6%. Read more here
It is also helpful to compare this data to a longer time period like 10 years like in the below subheading. If the population trend of growth or decline has been there for a longer period of time you’ll be able to tell if 6% is a recent change or not.
Click here to know more on the UK population trends.
In the last decade, what is the difference in population in Edinburgh?
12% has been the population growth change in the past 10 years.
Usually, this is more of a conservative figure compared to the five year change of a city.
Industrial changes can also be the reason for this shift but it could also be due to immigration or emigration. Bringing people in or out of the area.
The recent global pandemic has also shifted the number of people living in cities as people realise they can now work remotely. It may be that the people of a Edinburgh have seen a more desirable way of working, moving to make themselves more comfortable in their careers.
For example, the population of the South west of England has seen a massive increase in population because workers want to move there to benefit from the slightly better weather, lower house prices and also the rural area. Nonetheless, they can also benefit from travelling to the capital city of the UK, London.
Invest in houses for sale in Edinburgh with the right professional advice
Nowadays, there are so many properties on the real estate market that it can be difficult to decide which one is the best house for sale for you.
So, who can help you navigate the process of choosing a house for sale?
The number of professionals that offer real estate investors advice and assistance is broad and when it comes to dealing with houses for sale, the process can be complex.
Find here a list of those that can help when buying a house for sale:
- Moneylender – lends you the sum of money you need to buy the house for sale you are looking for
- Insurance agent – A firm that provides several insurances and protections for the house for sale that might become your future house
- Solicitor – A person or company that will sort out the legal work needed before buying a house for sale
- Civil engineer – Also called surveyor, he or she will provide you with an independent valuation of the house for sale you are willing to buy
- Mortgage advisor – Realistically, you will need a mortgage in order to afford to buy a house for sale. Mortgage advisors will guide you and propose the best mortgage deals based on your financial records
- EPC specialist – Especially nowadays, getting professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering buying is crucial
Other cities you can consider looking for with houses for sale
Below are a list of towns with a similar location to Edinburgh.
Reading these analysis will help you evaluate the different houses for sale currently listed in Scotland:
- Bellsquarry in Scotland
- Auchendinny in Scotland
- St-Quivox in Scotland
- Glenrothes in Scotland
- Annan in Scotland
If you are interested in some other city or even region of the UK, please visit the following page houses for sale in the UK it contains all the data related to the houses for sale.
Choose the right house for sale that suits your needs
Criterias that have an impact on the actual price of a house for sale have been listed here below. Consider them all to find the perfect houses for sale in Edinburgh.
- Affordability – check this article from the UK government to find out (see what house for sale you can afford)
- Location – if the house for sale is in the city centre rather than further out, this may be why it is more expensive than the market average.
- Transports near the house for sale – Being able to use public transports is a huge plus for a house, especially in big cities. This will have an impact on the price as well.
- Bedrooms – the more bedrooms there are in a house for sale, the more tenants a buy to let investors will be able to host, therefore, realistically the price will also increase.
- EPC of the house for sale – today more than ever, the energy performance of properties for sale on the market should be one of the first things you check.
- Wi-Fi speed – We recommend you check the internet plans available for the areas where you are considering to buy a house for sale
- Are you a motorist? – If yes, filter out your searches and compare prices of houses for sale with parking availability. Remember, a car parking space can cost as much as £400 per month
- Conditions of the house for sale – New builds and properties that were recently built usually need little to no repairs; instead, other houses for sale may require consistent or structural maintenance. These investments that can be both expensive and laborious to complete. Before making your offer for a house for sale you should always carefully assess this criteria.
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