Edinburgh is Scotland’s second largest population centre after Glasgow (area population 1.4m) and the UK’s seventh largest city.
Official statistics say Edinburgh has the fastest growing population in Scotland. It has grown by 9% in the last ten years, could rise by 7% by 2025, and go on to reach 619,000 by 2037.
Edinburgh scores very highly in most surveys on quality of life, being frequently nominated as one of the ‘best places to live’.
Official figures show Edinburgh is Scotland’s most popular location for migration.
Edinburgh overall is the wealthiest part of Scotland and one of the wealthiest parts of the UK, with a level of wealth only slightly behind that of London. Some of the UK;s wealthiest postcode districts are in Edinburgh.
Edinburgh has a strong employment market, with many highly paid jobs. It is particularly active in financial services – the city is one of the world’s largest centres for fund management. It is also strong in technology, media, telecoms and the digital sector.
The city is one of the UK’s top tourist destinations, receiving tourists from all around the world – which helps to create more demand in the property market. Around 4.2m tourist visits are made every year.
Edinburgh has one of the largest student populations in the country. There are around 65,000 students studying at four main universities. Student accommodation is in short supply and sought after.
Edinburgh has a housing shortage. There is high housing demand together with quite limited supply, which keeps property prices and rents high.
The upcoming City Region Deal for Edinburgh and South East Scotland could bring £1bn of investment into the region.
The city has the highest property prices in Scotland, currently averaging around £230,000. However, it is possible to find investment properties for around £70,000 – still far less than in London and the south east.
Average rents are the highest in Scotland, currently around £1,200 pcm according to Zoopla, meaning investors can still find attractive yields here.
Here’s another Property Insider report, which looks at the ins and outs of investing in Scotland: Investing In Property In Scotland: A Property Insider Guide