Property special - City guides

  • The List
  • 8 May 2008

EDINBURGH HOTSPOTS

Leith

How much: Average one bed £126,540; two bed £164,420

What: For better or worse, the Leith of Irvine Welsh’s Trainspotting is almost unrecognisable as new cafés, restaurants and bars jostle for space alongside the traditional boozers. New developments are in plentiful supply, and with a good selection of cinemas and some of the city’s best bars within easy reach, and planned tram links to the city centre in the offing, the area has lots to offer the prospective buyer.

Why buy: The Docks redevelopment and the introduction of the tram links look set to increase the number of properties and businesses in the Leith area, so buying property could be a good investment opportunity for early buyers.

Why not: A wander down Leith Walk after hours can be an eye-opening experience.

Gorgie

How much: Average one bed £120,604; two bed £151,040

What: Home to Heart of Midlothian FC’s Tynecastle stadium, Gorgie is also undergoing something of a revamp, with a diverse range of amenities and other small businesses now appearing. Other attractions include Gorgie City Farm and the nearby Fountainbridge multiplex. The city centre is just 15 minutes walk and public transport links are good.

Why buy: Gorgie and the surrounding areas, especially Fountainbridge, are enjoying significant investment due to new developments and this trend looks set to continue.

Why not: Match day at Tynecastle, when traffic and people jam the streets, could test your patience and house prices have already risen substantially.

Meadowbank

How much: Average one bed £129,948; two bed £166,234

What: Meadowbank is one of the top locations for first time buyers, particularly those on a budget, in Edinburgh. The area boasts an array of shops and a supermarket, while local landmarks Arthur’s Seat, Holyrood Park and Meadowbank Stadium are all a short stroll away. If you can’t face the 15-minute walk to the city centre, there are frequent buses along London Road.

Why buy: Great views of Arthur’s Seat combined with community spirit, a central location and great transport links make this an attractive proposition for buyers.

Why not: There are still cheaper areas to chose from in Edinburgh, and if you are looking for a good local pub you might find it lacking in parts of Meadowbank.

GLASGOW HOTSPOTS

Dennistoun

How much: Average one bed £98,000; two bed £115,000-£150,000

What: The east end of Glasgow has changed dramatically in recent years with cafés, shops and even an organic bakery adding to the more traditional fare on offer. The area is also popular with artists and creative types, many of whom rent studio space here. The city centre is within walking distance, as are the restaurants, bars and clubs of the Merchant City, and there are regular bus and train services.

Why buy: The whole area is likely to be transformed thanks to the 2014 Commonwealth Games, with the introduction of new venues, housing, and better transport links making this the time to snap up property in the East End.

Why not: This is not an investment for those hoping to make a short-term profit.

Ibrox/Govan

How much: Average one bed £90,000; two bed £100,000

What: This is another area ringing the changes. Both the BBC and STV have now moved to neighbouring Pacific Quay, and while the Clyde Arc (or Squinty Bridge) is currently closed for repairs, the district is likely to undergo something of a transformation over the coming year or so. Definitely one to watch

Why buy: With prices still reasonable, good rental potential and change afoot, this could be a good time to invest in an up-and-coming area. Rangers fans have the added bonus of Ibrox football ground on the doorstep.

Why not: While services are improving, it is yet to be seen whether the extra jobs in the area will simply lead to more commuters or new blood moving into the area.

New Gorbals

How much: Average one bed £100,000; two bed £120,000

What: The ugly tower blocks of the Gorbals were once synonymous with Glasgow’s ‘no mean city’ image, but the area has experienced a new injection of life due to a combination of public and private investment, leading to quality housing designed by top architects and public art, along with facilities such as shops, a library, leisure and community centres. There’s also plenty to recommend the location, which is a stone’s throw from the city centre and served by Bridge Street underground.

Why buy: Regeneration areas such as Crown Street have proved popular, and both the seller and rental markets are moving briskly.

Why not: The abandoned tower blocks nearby are less than appealing.

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