Council ‘failing on housing’ as city backed by investors
Miller Homes is building on a green field site in West Edinburgh (pic: Terry Murden)
Edinburgh has been ranked top UK city for residential investment as a trade body accuses the council of flawed policies that will fail to achieve its targets on providing new homes.
The capital pushed Cambridge into second place in Colliers’ latest Top UK Residential Investment Cities report.
This was because of Edinburgh’s solid house price growth, highly educated residents and expected population growth.
Douglas McPhail, director and head of Scotland at Colliers, said these factors, along with its world heritage status and vibrant cultural activities, helped drive up house prices and rental yields and therefore made it attractive to residential investors.
His comments coincide with trade body Homes for Scotland expressing “serious concerns” that the council’s proposed City Plan will fail to deliver the much-needed homes of all tenures that Edinburgh requires.