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Prices and rents in two key Scottish cities set to outperform rest of UK

The two major Scottish cities of Glasgow and Edinburgh are set to see property prices and rental growth outperform the rest of the UK over the next five years, according to new research by JLL.

The firm forecasts that house prices in Edinburgh are set to grow 23.4% compared to a UK average of 13.1% while Glasgow will also outperform the national average with growth of 15.4%.

Rental growth in Edinburgh is forecast to increase 20.5% and in Glasgow a rise of 18.2%, with both cities outperforming the UK average of 17.6% with both sectors seeing demand exceeding supply.

Continued political and economic uncertainty surrounding Brexit and a possible second referendum will ensure that house builders maintain a positive but cautious approach, says the forecast report.

It means there is likely to be continued pressure on price and rental growth between now and 2021, especially in key city centres but demand for city centre living and renting is expected to continue.

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