A bite-sized run down of what has been happening in the Edinburgh property market this week.

Property Prices Increase in Edinburgh

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Rising demand from buyers has led to steady growth in the price of Edinburgh properties, suggests a new report. Property prices have increased by 1.3% in the first three months of 2014 and by 4.6% annually.

Fountain Brewery Site to have Makeover

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The site of the old McEwan's Fountain brewery has been dormant since 2004,  now it has been targeted for an ambitious regeneration project. Those behind the project (which has incorporated the ideas of local residents) say it will change the area considerably. The plan is to create a 'new city neighbourhood' where people can "shop, work, stay and play". Plans for some 340 new homes are included the proposal.

Young Professionals Choosing to Rent

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Renting is becoming increasingly popular amongst young professionals in Edinburgh, according to a survey by Lettingweb.com. Despite relatively high rental prices in the city, it is a popular choice for those in their twenties and thirties who don't want to be tied to a mortgage.

Sales and purchases of properties may infact increase as a result of this trend, as more money is invested in the buy-to-let market.

Average monthly rental cost for a two-bedroom property in Edinburgh per month: £754

National average: £627.

ESPC First Time Buyer event

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ESPC is holding a free First Time Buyers event at its George Street showroom on Thursday 10 April from 4.30pm - 6.30pm.

The free event will answer questions regarding mortgage guarantees and equity loans, and expert advice will be on hand for any befuddled buyers. Appointments on the night are on a first come, first serve basis.

For more information, Tel: 0131 624 8000, email marketing@espc.com or visit www.espc.com.

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Blair Cadell are a leading Edinburgh-based lawyers firm, dealing in a wide range of property, business, tax and personal legal services. Call us free on 0800 515 626.