How is the jobs market in Edinburgh (in the long term)

[hopingforonlychild]

Hi everyone! DH and I are contemplating Edinburgh as an option to the usual London- Home Counties move. We own a flat in north london zone 3 which we bought in 2019- unfortunately the larger flats and houses in our area are extortionate and the fact we bought in recent years means that it would be difficult to capitalize on equity gains to move up the ladder.

We are attracted to edinburgh as we are fans of city life, and the many large beautiful tenement flats (and cheaper house prices). We also work in finance and Edinburgh is the second biggest finance hub in the UK. We could also afford private school in Edinburgh which is far more expensive in London.

My biggest worry about moving is that even if we find jobs there and manage to sell up in london and buy something larger, we may have to move back to London at some stage for career progress. We are still young (28 and 30) and have many years of working life. I don't have many friends in Edinburgh but the ones who did started out in good jobs but then moved to bigger cities after a few years.

Given that the main reason we want to move to edinburgh is to buy property, I don't really want to stay there for a few years and then have to move back because DH wants a better job (he is ambitious and has many years of working life ahead of him). We can't afford to keep the London flat as a BTL so we would have to start all over again (and then possibly sell the Edinburgh flat). We don't really want to be long distance commuters either, one reason why we want to move to edinburgh is because there is conceivably a chance we could get jobs in the city and work there.

Would be glad to know everyone's thoughts.

@Callisto1 I don't think there is any aggro now. There wasn't much aggro in London towards Europeans pre referendum, or Chinese people pre covid, but then it suddenly sprung up. I think it was better in london than in small towns etc. Stuff like this tend to embolden racists.

I would like to have a child soon, but wanted to delay it to overpay mortgage etc esp since i am only planning 1. I think it may be the fact that i live in london that is delaying childbearing- i have been married for over 5 years- as property is so expensive and expectations are higher. Mums are also older so you think that you have a lot of time. My rabbi once told me the average age of a first time mum in my synagogue (reform central london synagogue and quite posh) was 40! (and jews tend to believe in having lots of babies but even london life got in the way of that).

I'm not meaning to belittle London and have spent a lot of time there for work. It's just not somewhere I'd choose to live long term. I'm more an outdoors person who loves the mountains and beaches.
It sounds like you're mainly wanting a bigger property so I'd stay and keep overpaying on the mortgage. I gained promotions post the 2008 crisis so it is do able and obviously as you move up in the company the more £ you'll have ( until you have your child!).