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Excellent rental prospects' in Scotland

Written by Jim Barnaby

Tuesday, 08 April 2008

Despite a flurry of media reports about the uncertainty of buy-to-let, the investors themselves seem to be roundly confident, with nine out of ten respondents to the most recent Association of Residential Letting Agents (Arla) survey saying that they do not plan to sell their properties any time soon.
Additionally, four out of ten landlords said they have plans to add further to their rental portfolio; those who are looking for a new location to buy may want to investigate opportunities in Scotland.
According to the National Landlords Association (NLA), Scotland holds all of the attractions that make it a prime investment destination. David Kendall of the NLA said that there is an expanding and exciting market for buy-to-let investors in the area.
"From a rental point of view the outlook is excellent," he enthused, explaining: "Yields are increasing and rental voids decreasing, which is good news."
Another factor that may attract investors is the relative stability of the housing market, Mr Kendall stated, adding that "there's not a boom and bust cycle to the same extent that there is in the south-east".
All of these positive factors have led to a surge of property investors from outside of the area, he said, because "if people are looking for capital growth then they're more likely to come to Scotland".
Mr Kendall acknowledged that those who are looking for a new buy-to-let mortgage may run into obstacles regarding financing; however, he pointed out that the same trend is occurring in other areas of the UK as well. In addition, he pointed out that with fewer newer investors entering the market, those who are "already in the game" could be at an advantage.
Regarding where to buy, Mr Kendall - who is Scotland's regional representative for the NLA - recommended that buyers look beyond conventional cities such as Edinburgh, Glasgow and Aberdeen. "Many of the outlying areas and smaller towns are very busy now," he advised.
Indeed, figures from the Bank of Scotland's Scottish House Price Index for the final quarter of 2007 reveal that annual house price inflation in the area was 13.1 per cent. This figure represents the strongest increase in the UK - far more than the average increase of 5.2 per cent.
Meanwhile, that data shows that prices have remained low; the average price of buying a house in Scotland is £144,897, which is 26 per cent below the UK average.
It seems that the trend for buy-to-let properties in Scotland is predicted to continue. In February, the NLA opened a Scottish division to cater to this very demand.
In today's world Property investment is an excellent investment option especially investment in UK

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About The Author:

Jim Barnaby is a real estate investment broker and successful property investment adviser delivering research and selected UK and overseas property investment solutions with experience in spanish properties, french property investment, German property, Cyprus holiday homes, Property in Cape Verde, German property investment, cape verde property buy to let property

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