| Comment | In reality, people in England looking to invest in property won't generally look north of the border because our higher stamp duty rates and tenants rights mean that they'll get a lower rate of return on BTL. The big areas for that kind of investment are northern english towns, or the midlands, where you'd make more money on BTL than up here.
The rate of home purchasing in Glasgow by non-local or international buyers is actually very low indeed.
And I think you're massively overegging the attractiveness of our city if you think the wealthy are buying boltholes here. That's a problem for the Highlands, Fife, and Edinburgh, not this damp corner.
So essentially you've constructed a fictitious scenario in your head to be angry about. House prices are going up because normal working people are taking up bigger and bigger mortgages to pay for them, in the face of a general housing shortage. |
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