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Investment Guide – Edinburgh

Investment Guide

Population

500,000+

region

Scotland

county

Edinburgh

Property

In the past year house prices in Edinburgh were 6% up on the year before with the overall average price of a property at £246,109. The average price of a one bedroom flat was £132,225 and a two bed £182,355.

As the capital city of Scotland, prices for property in the area are much higher than the rest of the country. The current average value in Scotland in June 2017 is £178,684 (37% lower than Edinburgh). Terraced properties sold for a current average value of £149,532 and semi-detached properties valued £173,913. In the past year property prices in Scotland have decreased 4%. This is according to the current Zoopla estimates.

The rate of new build houses has risen from 630 in 2011 to 1,760 in 2015 - a 179% increase. The main demographic of housing tenure is owner occupiers at 53% and privately rented at 29%. 75% of these households are made up of 2 people or less. The total number of properties sold in 2015 was 12,431. (Investinedinburgh.com)

Economy

Edinburgh has the strongest economy of any city in the United Kingdom outside London and the highest percentage of professionals in the UK with 43% of the population holding a degree-level or professional qualification. The city has the second highest Gross Value Added (GVA) per resident in major UK cities, with the average being £34,500 per resident.

Edinburgh is a major tourism centre in the UK and gateway to the rest of Scotland. Around 4 million visitors a year inject £1.32 billion into the local economy. Visitors to Edinburgh in 2014 totalled 4,217,000 (38.5% of which were from overseas), injected around £1.32 billion into the city region’s economy and accounted for 14.77 million bed nights. The city region also accounts for 28% of all expenditure by UK and overseas tourists in Scotland.

In 2014, average occupancy levels in Edinburgh (80.5%) were among the highest in Europe and beyond. This included a solid mix of business and leisure tourism and peaked in the months of June (90%), July (91%), August (93%) and September (93%).

 

The employment rate for the city stands at 73.5% for Q1 of 2016, which is higher than the rate for Scotland as a whole, which stands at 72.6%

Employment

Today, the financial services industry, with its particularly strong insurance and investment sectors, and underpinned by Edinburgh-based firms such as Scottish Widows and Standard Life, accounts for the city being the UK’s second financial centre after London and Europe’s fourth in terms of equity assets. Edinburgh is home to The Royal Bank of Scotland, Bank of Scotland, Sainsbury’s Bank, Tesco Bank, TSB Bank and Virgin Money.

The employment rate for the city stands at 73.5% for Q1 of 2016, which is higher than the rate for Scotland as a whole, which stands at 72.6%

DEMOGRAPHY

Edinburgh has a high proportion of young adults, with 19.5% of the population in their 20s and 15.2% in their 30s which is the highest in Scotland. The proportion of Edinburgh’s population born in the UK fell from 92% to 84% between 2001 and 2011, while the proportion born in Scotland fell from 78% to 70%. Of those Edinburgh residents born in the UK, 335,000 or 83% were born in Scotland, with 58,000 or 14% being born in England.

Education

The city’s academic institutions are internationally renowned for their research and teaching excellence. This talent base combined with the area’s quality of life and its environment are key attractions for employers and their employees. With 46% of the working age population educated to degree-level or above, Edinburgh’s workforce is one of the most qualified of any UK city.

There are over 57,000 students enrolled in Edinburgh’s four universities. The city’s largest university, the University of Edinburgh, is regularly ranked one of the top higher education institutions in the world in prestigious indices such as the Times Higher Education World University Rankings and the Academic Ranking of World Universities. The University of St. Andrews is ranked as the third best and is the third oldest University in the UK. It’s prestigious reputation attracts the likes of Prince William, Kate Middleton, Sir Chris Hoy and six Nobel Laureates.

TRANSPORT

Edinburgh’s Airport is the 6th largest airport in the UK in terms of passenger numbers and carries over 11 million every year to over 120 destinations. It is located 5.8 miles west of the city centre and is situated just off the M8 motorway.

The city is home to the 2nd largest train station outside London with around 20 million users each year. Trains to London operate over 20 times a day with a journey time of just over four hours. As well as trains, Edinburgh’s tram service is one of the most advanced in Europe and brings huge economic benefits to the city through jobs and investment.

The city is home to the 2nd largest train station outside London with around 20 million users each year

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