Increasing Demand For Rental Properties As Borders Railway Construction Gathers Momentum
With the construction phase of the new Borders Railway firmly on track, CKD Galbraith are calling on landlords to recognise the demand for new rental properties as lettings in the region continues to increase.
The Borders Railway, which will enter service in 2015, will re-establish a passenger rail link for the first time in over 40 years from Edinburgh through Midlothian to Tweedbank.
As a result, CKD Galbraith has experienced significant new enquiries for rental properties from workers involved in the construction project – and are also expecting demand to be maintained once the line is opened and more people choose to live in the Borders with the option of travelling to Edinburgh for work.
Julia Seggie, lettings manager at CKD Galbraith’s Galashiels office, said: “The Borders Railway will hopefully provide an boost for the region once it comes into service but it is important to realise the opportunities leading up to 2015 when the first train starts running.
“For those of us involved in the property sector, that means recognising the increased demand for homes located close to the new railway.
“Properties within easy reach of the line, and especially the three existing and seven new stations that are being built, are now more sought than ever before.
“The demand is currently from workers and companies who will be involved in the construction and as a result, good yields can be achieved by homeowners with properties to let.
“With a forecasted journey time of less than one hour between Tweedbank and Edinburgh Waverley, this will gradually develop into an increase in house hunters looking to locate to the Borders who would not have previously been able to move to the south of the country.
“This increased demand is also filtering through to the buying sector, with the investors and purchasers we assist identifying more reasons to acquire homes in the area, which may lead to increased property prices.
“However, at the moment it is in the lettings market that we are seeing a boom and it is one we predict to continue for the foreseeable future.”
Some example properties available for rent through CKD Galbraith’s Galashiels office include:
Yarrowdene is a modern detached property in an idyllic rural location just a short drive from Selkirk. The well laid out accommodation includes entrance hall, lounge, family room/dining room, dining kitchen, utility room, shower room, main bedroom with en-suite shower room, bathroom and three further bedrooms. (£750 pcm)
Third Farmhouse is a traditional farmhouse in the heart of the Scottish Borders situated in a beautiful rural location with excellent views. The accommodation comprises three bedrooms, two reception rooms, kitchen with Aga, utility room and two bathrooms. LPG central heating. Garden with garage and workshop/store area. (£900 pcm)
186 Croft Street is a newly decorated two bedroom ground floor flat with private garden and driveway. The property offers a good sized reception room, fully fitted kitchen, two bedrooms and new bathroom with over head shower. (£450 pcm)
CKD Galbraith operates a network of lettings departments across Scotland working with over 800 landlords and managing over 1,100 homes for hundreds of tenants.
The firm has a SAFEagent accreditation thus being able to guarantee that tenants' and landlords' money is protected by a client money protection scheme and is also a member of the Association of Residential Letting Agents (ARLA) and the National Approved Letting Scheme (NALS).