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Glasgow mortgage advice

The Housing Market in Glasgow

Local Property Guide

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Catering to all budgets and tastes, Glasgow’s property market is highly attractive to various buyers, from families to young professionals, first-time buyers and buy-to-let investors.

The housing market in Glasgow has seen significant growth in recent years, and this upward trend is likely to continue. Due to strong buyer demand, Glasgow city centre sales are expected to rise by an average of 3.2% per annum over the next five years.

According to recent estimates from Zoopla, the average property price in Glasgow is £191,832 (as of January 2019), which has increased by 4.56% over a period of 12 months.

As for house price trends by postcode and district, the average overall prices are as follows:

    Glasgow West: £227,114
    Glasgow South: £167,953
    Glasgow East: £138,079
    East Dunbartonshire: £246,433
    East Renfrewshire: £258,889

 

How Much Will it Cost to Purchase Property in Glasgow?

According to data from The Registers of Scotland, the average price of a property in Glasgow (as of November 2018) is £134,327.

In the table below, you’ll find more detailed information about the average price per property type, and how much those values have increased over the past year.
 

Property Type  Avg. price (Nov 2018)   Increase (last 12m) 
Detached£324,597 8.25%
Semi-detached£185,429 7.85%
Terraced£158,929 8.28%
Flats£116,114 5.08%

 

The Most Expensive Areas to Buy Property in Glasgow

Located in a prestigious area six miles from the city centre, houses in Bearsden fetch the highest prices in all of Glasgow. Milngavie – another affluent suburb located in East Dunbartonshire – is also experiencing tremendous growth, giving it some of the most expensive average property prices in Scotland.

Property values are also surging in Newton Mearns and Loganswell, two upmarket suburbs located in East Renfrewshire.

Homes in the G12 postcode area, including the popular West End neighbourhoods of Hillhead and Kelvinside, are experiencing a fast-moving, competitive buying environment driven by strong demand – so it’s no surprise this highly sought-after district stands as one of the priciest areas to buy property in the city.

Comprised of outlying towns and villages such as Killearn, Balmaha and Drymen, the G63 postcode bracket is another expensive area when it comes to property prices in Glasgow.

Surprisingly, several of these highly sought-after suburbs – including Bearsden, Newton Mearns, Loganswell and certain West End districts – have seen a drop in prices over the last six months compared to other expensive areas in the city.

The average property price for each area (based on the average price in 2018) is as follows:

    Bearsden (G61) – £342,042
    Newton Mearns and Loganswell (G77) – £328,354
    West End (G12) – £314,883
    Milngavie (G62) – £275,558
    Killearn, Balmaha and Drymen (G63) – £264,668

 

The Cheapest Areas to Buy Property in Glasgow

Some of the most affordable options for house hunters can be found in Glasgow’s East End. Easterhouse is the cheapest area, followed closely by Possilpark and Balornock – two suburbs within the G22 and G21 postcode brackets.

With slightly pricier properties on offer, Cumbernauld and Castlemilk round out the top five most affordable areas in Glasgow.

While the city’s East End is often regarded as one of the most deprived areas in Glasgow, several suburbs in this district are currently undergoing a period of restoration. Easterhouse, in particular, is slated to see more than 100 new flats and houses developed on the former site of Provanhall Primary School.

The average property price for each area (based on the average price in 2018) is as follows:
 

    Easterhouse (G34) – £61,567
    Possilpark (G22) – £75,719
    Balornock (G21) – £80,269
    Cumbernauld (G67) – £85,416
    Castlemilk (G45) – £88,539

 

Glasgow’s Biggest Up-and-Coming Areas

According to data from property website Zoopla, East End suburbs such as Castlemilk, Ibrox and Easterhouse – along with Southside hotspot Shawlands and the G2 postcode area – have seen the highest property price increase over the past five years.

New large-scale development projects are currently underway in the city centre near High Street Train Station, the West End neighbourhood of Jordanhill, and Govanhill, a residential district located south of the River Clyde.

Not only do they offer a fantastic mix of affordable housing options and various amenities, but these up-and-coming districts are also likely to deliver a great investment for the future.
 

How Far Will Your Budget Go?

To give you a better idea of just how far your budget would go in Glasgow, we’ve taken a look at the latest statistics from Zoopla to compare property prices in one of the city’s most in-demand areas versus one of its up-and-coming suburbs.

If you’re looking to buy a flat in Dowanhill – located in the ever-popular West End – you can expect to pay upwards of £328,029. For nearly the same amount, you could get a semi-detached house in the highly desirable suburb of Shawlands (where the current average value for a semi-detached home stands at £333,222).
 

The Future of Glasgow’s Housing Market

Although housing prices in the city centre are booming, Glasgow’s suburbs are expected to see the largest amount of growth over the next few years.

Specifically, homes in prestigious regions such as East Renfrewshire and East Dunbartonshire are set to rise by 23.8% and 22.5%, respectively, by 2021.

Additionally, new homes in emerging regeneration areas – from Gorbals to Easterhouse and Govanhill – are providing attainably priced homes ideal for first-time buyers.

With healthy growth taking place in the city’s affluent suburbs, in-demand central districts and several up-and-coming neighbourhoods, there’s never been a better time to think about purchasing property in Glasgow.
 

Buy-to-Let in Glasgow

With one of the most renowned universities in the country and a huge student population, it’s no surprise Glasgow’s buy-to-let market is booming. In fact, according to research conducted by property website Zoopla, Glasgow is one of the top cities in the United Kingdom for buy-to-let student properties.

Specific regions – such as the highly coveted West End – are exceptionally popular with students, and locating accommodation in one of these districts comes with the added assurance that you’ll receive a positive return on investment.

To find out more about buy-to-let in Glasgow, contact one of our knowledgeable mortgage advisors today.
 

Looking to Buy a House in Glasgow? We Can Help!

With housing prices steadily increasing, getting on the property ladder can seem like an overwhelming task. That being said, with the right help and guidance, it doesn’t have to be a painstaking process.

Whether you need advice on the best places to live in Glasgow or you’re a first-time buyer looking for general mortgage advice, we’re here to help.

Offering award-winning services and 100% free mortgage advice, there’s a reason we’re the UK’s top-rated mortgage broker on TrustPilot.

Have a question?

If you need advice for  first-time buying in Glasgow – or if you’re looking for a reliable mortgage broker in Glasgow – don’t hesitate to contact us today.

We’re experts on all things mortgage-related (and our services are always 100% free).

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