January 23rd, 2024

New statistics show Scotland’s housing crisis intensifying

Further to an article from Insider stating ‘New statistics show Scotland’s housing crisis intensifying, with decreases across both the number of new homes of all tenures being started and completed.’ For the full article click here.

Geoff O’Brien, Relationship Director comments- “Edinburgh returns to number one, as the city ranks in the top five in ten indicators, including attractions and house price growth. Edinburgh is the UK’s second most visited city (behind London).

Glasgow continues its upward journey and now ranks second, having ranked eleventh in the first report from H1 2021. Glasgow tops the Property pillar thanks to solid house price growth over the past five years and the highest rental yields across the 20 cities analysed.

The performance of Scotland’s two main cities is even more remarkable against a backdrop of challenging Scottish government legislation affecting private landlords with both cities also declaring a housing emergency last year. Edinburgh and Glasgow city councils have seen decreases of 23% and 46% respectively in the number of new homes started, compared to the previous year. There continues to a high demand for properties, for both rental & purchase, with the undersupply becoming an increasing area for concern as we enter 2024.”