More English landlords are investing in Scotland
The number of English landlords investing in Scotland’s buy-to-let sector because of cheaper property prices north of the border, along with tax reliefs and higher yields.
Touchstone, the property training firm, found that 78 per cent of its clients believe the best buy-to-let investment opportunities currently exist in Scotland.
In contrast, half of respondents – 50 per cent - said they intend to target London’s buy-to-let market, while 53 per cent opted for the South East and 49 per cent for the South West of England.
Touchstone identified increasing rental yields north of the border as a primary reason as to why more people are investing in Scotland’s housing market.
The average rental yield returned to investors with property in Scotland has increased for the first time since March 2017, Your Move Scotland has found.
Fresh data from the letting agency reveals that the average rental property north of the border generated a return of 4.7 per cent for its owners in March, higher than the 4.6 per cent recorded a month earlier.
Consequently, landlord returns in Scotland are now at a six-month high. This is in contrast to England and Wales, where yields have held steady at an average of 4.3 per cent.
Touchstone’s chief executive, Paul Smith, said: “Central Scotland is now the focus of a great deal of activity.
“Edinburgh has always provided consistent returns, but Glasgow is now the city that’s setting the pace.
“There’s a great deal of excitement about its growing tech, creative and financial services sectors which are attracting young, affluent workers from elsewhere in the country.
“The main exception in Scotland is, of course, Aberdeen whose property market continues to be negatively affected by the downturn in the oil and gas industries.”