LEITH and Victoria Quay area of Edinburgh is the leading property hotspot for Scotland’s career minded young adults.
The top ten areas that attract the most young urbanite professionals in Scotland are spread evenly across the three leading cities; Edinburgh (four separate postal areas), Glasgow and Aberdeen (both three).
In the capital, the most popular areas for young professionals are in the north east, the west and north side of the city, as well as Leith.
Edinburgh has four of the most desirable postcodes Photo:Ad Meskens
In Glasgow, the leading areas are Pollokshields and Shawlands (in the G41 postal area), south of the city, West End and Hillhead.
Aberdeen’s most popular areas for young professionals are the city centre, city centre north and Mannofield.
Outside the top ten, other areas attracting young professionals are Paisley and Hamilton, according to research by the Bank of Scotland.
Properties in the areas popular with young professionals do not typically come with a hefty price tag. EH6 in Edinburgh, for example, has an average price that is almost 30% lower compared with Edinburgh as a whole – £144,7902 against £203,931.
In the south side of Glasgow (G42) the average house price is 16% lower than for the city as a whole; and in Aberdeen city centre they are a fifth lower.
There are, however, exceptions: to live in Glasgow’s Hillhead area (G42) young urbanites can expect to pay a premium of 79%, and in the north-west areas of Edinburgh the average price is 56% above those compared with the city as a whole.
Nitesh Patel, Housing Economist at Bank of Scotland, said: “The typical profile of young professionals is that they tend to have university qualifications, are in well paid occupations and like to take full advantage of living in or close to the city, either for work or leisure purposes. Our analysis certainly supports this with areas within Edinburgh, Glasgow and Aberdeen identified as the leading hotspots for young aspiring urbanites.
“Unlike in many other parts of Britain, young buyers in Scotland don’t always have to pay a significant premium for a property to live in these areas. In fact, in many of the leading hotspots young professionals can benefit from prices that are lower than those in the city as a whole.”