Scotland with its lochs, mountains and lush greenery has in recent years seen steady growth in value of their property. The recent Bank of Scotland’s Affordable Cities Review indicates that “Over the past five years, Perth has recorded the highest house price growth with a rise of 27%. Dundee has the second highest increase in average house price (25%), closely followed by Glasgow (23%).”
Despite the uncertainty that came with the Brexit vote, The Royal Institution of Chartered Surveyors (RICS) found that 17% more surveyors in Scotland reported an increase in house prices.
When it comes to rental growth, Rettie and Co’s Scottish Investment Review says that “With the exception of Aberdeen, where the market has corrected following the downturn in oil price, the other major Scottish cities have seen consistent and strong rental growth in recent years, which is likely to continue giving rising demand and weak new supply.”
So if you are looking to buy a property in Scotland, which are the most affordable cities?
Stirling
Stirling, once the country’s capital is a city situated in the centre of Scotland. It was also only granted city status in 2002 following the Queen Elizabeth II's Golden Jubilee.
Glasgow
The largest city in Scotland, Glasgow is a bustling hub for arts and culture as it houses the Scottish Opera, Scottish Ballet and National Theatre of Scotland as well as a year round calendar of festivals.
Inverness
Situated up in the Scottish Highlands, Inverness is where River Ness (which flows from Loch Ness – the home of famed Nessie!) meets the Moray Firth.
Dundee
A coastal town in the east, Dundee was an important east coast trading port back in its day. In the present, it is looking at a £1bn regeneration scheme to the Waterfront which will include a new train station as well as the V&A Museum of Design, Dundee.
Perth
Not to be mistaken for the other Perth in the Land Down Under, Perth is a city in central Scotland. It was home to the Stone of Scone (The Coronation Stone) which was last used in 1953 for the coronation of Elizabeth II.
Aberdeen
The downturn of the oil industry didn’t bode well for Aberdeen, but after the overcorrection in 2016 the Aberdeen property market should see itself normalise now.
Edinburgh
Last but not least we have the capital of Scotland (but only second most populous city after Glasgow); it is also the largest financial centre in the UK after London.