Top 5 Residential Areas to Buy Property in Edinburgh
Are you looking for the best area to buy a property in Edinburgh? Here are our top 5 areas to buy property in Edinburgh:
- Leith Walk
- Gorgie and Dalry
The rest of this blog post will go on to explain in more detail as to why each area has been selected and made it into our top 5 neighbourhoods to buy a house or a flat in Edinburgh, whether you’re looking for your first step on the property ladder or an additional house or flat for your investment portfolio.
The Edinburgh Property Market
Edinburgh has long occupied the top spot on the country’s most sought after city polls, but with recent reports in the media of Scotland being ranked as second only to London in the best UK’s cities to invest in, it is now harder than ever to secure a property in the city. No one knows this more than first-time buyers. With property prices at an all-time high, getting your first step on the property ladder can seem like an impossible task to some, but with the right advice and strategy, it can be easier than you think.
Figuring out the best Edinburgh neighbourhood for you
What are the best first-time buyer areas in Edinburgh? With several factors to consider when buying your first property, it can all seem rather daunting, but here at Cox & Co, we can offer you the advice needed to secure your first flat. We specialise in sourcing investment property for our landlord clients and the criteria we use for assessing investment property is exactly what you should be using when looking for your first purchase.
As an Edinburgh mortgage broker, we know a thing or two when it comes to what to look for when deciding the best area to buy a property in Edinburgh. We have a simple template that we apply to all our potential property sourcing targets – questions that should also apply to anyone looking to purchase their first property:
Is the property in a sought-after area? Is there a high rental demand? What is the average rental yield of the neighbourhood? Is the building traditional or modern? Is there a lot of property for sale in the area? Do these sell quickly?
Potential capital growth
Is there still room for price growth in the area? Have prices reached the max affordability? Are there any new developments going on that could improve the local area? This can be a hard one to figure out on your own, so enlisting the help of a property investment manager who knows the area is a good idea.
Are there shops and bars close by? How long would it take to walk into the city centre? Is there a park nearby?
Is it near a good bus route? Are there parking facilities? How close are you to the train station? How quickly can you get out of town?
Taking the above information into consideration, our area sales manager Kieran Goudie has selected his top 5 best areas for first-time buyers in Edinburgh below.
Best areas to buy a house or flat in Edinburgh right now
My first choice would probably surprise a lot of people, but Leith has undergone one of the most impressive transformations the city has ever seen, with the average house price percentage increase over the past five years rivalling that of New Town.
The huge renovation works on Leith Walk have breathed a new life into the area, and long gone are the sawdust pubs and derelict buildings, replaced by quirky cafes, hipster bars and boutique delicatessens. The close proximity to the city centre and high number of greenspaces not only make this area a good potential neighbourhood for property investment but a genuinely nice place to call home.
With a wealth of fashionable cafes, bars and restaurants and only a short walk into the city centre, Stockbridge has long been the traditional area for more well-to-do first-time buyers to seek their first home. The area boasts a popular rugby club, a cricket club and several other parks that give the area a leafy, village feel while still only being five minutes away from the bustle of the city centre.
Although expensive – an average one-bedroom flat will cost you north of £200,000 – the demand in the area continues to grow and with the lack of space for new development, a property here should be a solid investment for years to come.
The main contender to Stockbridge for the title of the trendiest residential area in Edinburgh, Bruntsfield continues to attract a wide selection of buyers from young professionals to families and downsizers. Like Stockbridge, the area has an abundance of upmarket cafes and bars but also the bonus of the Bruntsfield Links greenspace which offers a great place to relax with friends on the rare sunny day.
With all these attractions and variety of residents, the demand for property will always be high, making Bruntsfield a safe place to invest in that first deposit you have saved up.
Gorgie and Dalry
Like Leith, the neighbouring areas of Gorgie and Dalry were once seen as non-desirable areas due to buildings being left in disrepair, traffic issues and a high level of social housing. These problems have long since been sorted out, and the area is seeing a massive revival with new restaurants, bars and developments going up wherever they can find space.
Quirky elements like the Gorgie City Farm help give the area a family-friendly vibe, and easy access into the city centre makes it popular with young professionals. Add into the mix the huge ongoing developments at Fountainbridge and Haymarket having a ripple effect along both Dalry and Gorgie Road, this area could see a huge price increase in the coming years.
The little brother of Bruntsfield, Polwarth enjoys an enviable position on the borders of several popular Edinburgh locales including Bruntsfield, Fountainbridge and Dalry, giving access to an abundance of different amenities from the trendy bars of Bruntsfield to the family-friendly entertainment venues at Fountainpark.
Although traditionally a popular area for students, the influx of first-time buyers and local investment have made Polwarth a very up and coming area, so it’s a great place to live and watch your new home rise in value.
Buying your first home in Edinburgh
If you are looking to move to Edinburgh, Scotland’s capital city, reach out to Cox & Co today. We are on hand to offer the best advice when it comes to the best areas to buy a property in Edinburgh this year.
Even if you already own property in Edinburgh, our team of Edinburgh property investment specialists will still be able to help you get the best solution for your budget.
For those looking to step on to the property ladder, there are still good-value areas for first-time buyers in Edinburgh if you know where to look – and now you do!
The prospects for first-time buyers in Edinburgh are looking better than they have in years, so now is the time to make that investment.
Property investment in Edinburgh
Edinburgh is also an excellent city to buy property in for buy-to-let investors: the average rental yield is impressive, with the market rent having risen steadily in the last few years. With growing financial and tech sectors, a large student population and millions of tourists visiting the Scottish capital each year, it’s an excellent city to establish yourself as a landlord. You can read our guide to Edinburgh property investment here.