With a population of over 21,000, Musselburgh is East Lothians largest town and more and more investors are seeing this as a growing market and are keen to invest before “Edinburgh prices” begin to seep through. The Edinburgh City Bypass is also a short 5 minute drive away making commuting in and out of Musselburgh very quick and efficient indeed.
Rental prices have been steadily creeping up over the past 4 years within Musselburgh with the average 1 bedroom property now currently achieving £650 per calendar month and the average 2 bedroom property currently achieving £775 per calendar month (14% Increase since 2016). With excellent returns available for landlords Musselburgh is currently a hot spot for property investors!
With strong demand from renters in the area and a shortage of properties coming to the market the average time to let is also very competitive. Over the course of the last 3 month period, Braemore Lettings have marketed 3 properties, all which were noted to have a time to let of 14 days or under.
We often get asked about the difference between new build property and traditional stone built property available within the town. Historically, you would tend to see traditional properties offering better capital growth and this remains the case. Having said that, if you are only looking at a good yield then either type of building will offer you that. Advice when investing is absolutely key. We would always advise speaking to one of our property experts (Sales and Lettings) prior to making a purchase.
The Musselburgh market has shown strong growth in recent years and it’s certainly a market that we feel will continue to grow as the border of Edinburgh expands. Portobello has seen a similar benefit so Musselburgh is sure to be next to reap the rewards of our expanding City.
Interested in hearing more? Please call us today on 0131 624 6666 or drop us an E-mail at email@example.com for further information.