Year: 2012

Scotland’s Most Expensive Street

Dec

For the second year in succession Dick Place in the Grange area of Edinburgh is Scotland’s most expensive residential street with an average price of £1,686,000.

According to the latest research from Bank of Scotland, half of the 20 most expensive streets in Scotland are in Edinburgh. A fixed supply of substantial family homes combined with the capital’s role as a financial centre have kept prices high with Ann Street in Stockbridge being the third most expensive street with an average price of £1,208,000. Four of the 20 top streets were in EH4, three in EH9, two in within EH1 and one within EH3.

Base Rate Predictions – Long Term Low Rates

Nov

The most recent poll of economists predicts that bank base will remain at 0.5 % until mid 2015 at the earliest. There is an outside chance that the Monetary Policy Committee will cut the rate next next year although that is now thought less likely with more focus being placed on the Funding For Lending Scheme. Forecasts now predict the first rate rise, by 0.25 %, will be in January 2017 and that by September 2018 base rate will be 1 %.

Why Buy for Student Son or Daughter?

Sep

There are many good reasons why buying for offspring during their student years makes sense. For most parents it will be to ensure their children have somewhere to call home for the duration of their studies, avoiding the annual clamour for rental flats and to subsidise living costs. A student in rental accommodation for 4 years in Edinburgh will pay, on average, a total rent of £19,200. We have recently sourced and advised on the purchase detailed below.

Home Reports – Explained

Aug

Since 1st December 2008 a Home Report has been required by law for the majority of homes for sale in Scotland. A chartered surveyor who is a member of the Royal Institute of Chartered Surveyors must carry out the single survey and valuation. They are also able to provide the energy report and energy performance certificate. The final component is the property questionnaire, completed by the property owner.

How To Calculate Property Yields

Jul

There are two fundamental forms of yield to be aware of when investing in property. One is Gross Yield and the other is Net Yield.

Gross Yield is calculated by dividing the annual rent by the property value and is expresssed as a percentage. For example if the annual rent is £6,000 and the property value is £100,000 then the gross yield is £6,000/£100,000 = 0.06, which is 6%.

Net yield is calculated by taking away the annual running costs ie insurance and agent fees from the annual rent and then dividing this figure by the property value. For example if the annual rent is £6,000, costs £1,000 and the property value is £100,000 then the net yield is £6,000-£1,000 = £5,000/£100,00 = 0.05, which is 5%.