£2.5 billion is spent on heating and cooling buildings in Scotland every year and it’s the Scottish Government’s aim to reduce that figure to reduce fuel poverty and the effects of climate change.*
From 1st April 2020, as part of the Scottish Government’s Energy Efficient Scotland Programme, Landlords will have to ensure that their rental properties achieve a minimum Energy Performance Certificate (EPC) Rating of Band E for any new tenancies, extending to all private rental properties with sitting tenants by 31st March 2022.**
Furthermore, as from 1st April 2022, properties must achieve a minimum EPC rating of Band D for new tenancies and this too will be rolled out by 2025. Landlords could face fines of up to £4000 for failure to comply to the new rules.***
For some properties, it’ll be an easy fix to improve their EPC banding score (eg. changing lightbulbs throughout to energy efficient LED bulbs). However, some Landlords may have to consider improvements such as double glazing, loft insulation, etc.
The Scottish Government intends to issue more information and draft regulations later this year. One Stop Properties will share this information with our Landlords once it’s published and we will be able to offer help and guidance.
You’ve got to that stage in your career where you are considering your next big investment decision the purchase of a second flat or house in Glasgow to generate additional income – but where do you buy?
In this blog we consider where the next ‘up and coming property investment areas across the city are, and where you get an excellent property for your budget. We all know that the west end of Glasgow is offers architecturally beautiful properties within sought-after addresses however there are lots of other areas within Glasgow that buyers are now considering and plenty of new ‘hotspots’ popping up.
At One Stop Properties we deal with landlords all over the City and we asked Wendy Gallagher to give us her expert opinion on where to buy in Glasgow in 2019. “Glasgow’s property market has seen a massive shift over the last 5 years. On the back of the Commonwealth Games in 2014, we’ve seen a massive increase in demand of properties in Glasgow’s East End. Dennistoun (G31) has become a real gold mine, lined with beautiful red sandstone flats offering high ceilings and original great features, as well as an excellent array of new trendy bars, restaurants and delis and its proximity to the city centre and the University of Strathclyde.
Second on the up and coming list is Oatlands. A direct result of the redevelopment of the G5 postcode due to Glasgow 2014, Oatlands offers a wealth of excellent new properties from apartments to town and family houses, with ample parking and a vibrant mix of bars, cafes and other amenities all within a one mile radius. With beautiful views over Glasgow Green and leafy walks along the river, it’s Glasgow’s alternative to the West End. According to Rightmove, Oatlands offers an excellent alternative to Glasgow City Centre and South Side. House prices in this area are on the rise (3% higher than 2018) and with excellent transport routes to the City Centre, it is an excellent property investment consideration.
Not far from Oatlands is New Gorbals, again another up and coming property investment area for landlords. With an excellent range of properties from 1 bedroom flats to 4 bedroom houses and close proximity to the M8 and M74, this areas offers something for everyone.”
Glasgow is definitely a hotspot of up and coming properties and as a landlord looking to invest in a first or additional properties, there is a lot to consider before making this significant decision. At One Stop Properties, we not only provide a property management service for all your property needs, but we’ll guide you to buy the right property that ensures your investment generates the yield you want to achieve.