Property News

Wednesday, August 16, 2006

Edinburgh more costly than London?

Edinburgh is the second most expensive British city to live in and considerably more costly than London, new research has discovered. The research is based on living costs with the average Londoner spending 75% of their monthly wage on essential living costs, mortgages and bills etc compared to people in Edinburgh who have 93% of their wages committed to essential living costs.

Edinburgh's rising property prices are making it hard for workers on average salaries, in particular public sector workers, to afford even modest accomodation. There are also growing concerns over the gap between the cost of property and what mortgage lenders will provide. Many key workers are moving further out of the city and facing long commutes in order to get on the proprty ladder.

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