Scottish House Prices To Increase In 2007
Research released this month from two of the country’s leading mortgage lenders has predicted that house prices in Scotland will increase by over 10% during 2007.
This is above the predicted UK national average of around 7% and proves that buying property in Scotland in 2007 should prove to be a sound investment.
In addition to this as property prices in Scotland are traditionally lower than the rest of the UK buying north of the border can make great sense for buy-to-let investors. This is due to the fact that the deposits required will be lower but yields higher than the rest of the UK.
Example –
Purchase Price - £60,000
10% Deposit - £6000
Mortgage Required - £54,000
Rental Income - £375 x 12 months
= £4500 divided by £60,000(purchase price) = 7.5% yield
Anticipated Capital Growth - £6000
Which means you could potentially double your initial investment of £6000 within 12 months!!?
If you would like more information on which areas of Scotland to invest in and those to avoid please email us at info@propertyconsultants365.co.uk or call one of our friendly team on 0191 469 3325.
