Several areas in Glasgow have seen an increase in average property prices, with many parts of the city commanding higher average prices than ever before. This is in line with the increase in property prices throughout much of Scotland – in 2021, the average house price rose to £207,877.
But what does this mean for house prices in Glasgow? Well, the average price is still lower than most Scottish cities except Dundee, and Edinburgh has the largest average house price of over £320,000 – significantly higher than Scotland’s biggest city, Glasgow, but this is to be expected.
However, we’re going to take a closer look at the Glasgow market, and shed some light so you can prepare to sell your house in Glasgow.
Glasgow house prices by area
The area of Bearsden remains the most expensive place to buy a house in Glasgow, and according to Rightmove, the average price in this area is £379,590. Just six miles out of the city centre, it is a tranquil area that has a small-town feel without the bustle of the big city life. There are plenty of open spaces and a high standard of living which means a property can command a higher price than other postcodes.
Other affluent postcodes are found in Milngavie, East Dunbartonshire. Milngavie has seen incredible growth in recent times, with average house prices of £305,430 being among the most expensive in all of Scotland.
East Renfrewshire has also seen prices increase, most notably in the upmarket areas of Newton Mearns, where the average price rose to £357,535 in 2021.
The West End continues to be one of the fastest-growing areas in Glasgow with demand remaining strong and property prices averaging £267,163. The market in West End has proven to be fast-moving once again, which is how it is host to some of the highest house prices in Glasgow.
The G63 postcode remains strong. Small towns and villages such as Killearn, Drymen, and Balmaha are expensive areas to buy and have high prices compared to much of Glasgow.
Affordable properties in Glasgow
Anyone looking to get on the property market in a more affordable area will find the Glasgow property market full of options.
The most affordable remains Glasgow’s East End. The average price in Easterhouse in 2021 was £63,671, but other areas such as Possilpark (£106,874) and Balornock (£102,063) offer further alternatives.
Although slightly more expensive, Castlemilk and Cumbernauld are two of the other most affordable areas to live in Glasgow.
On the other end of the scale, properties commanding over £1 million rose from 9 to 32 in 12 months from August 2020 to 2021. Most were in Glasgows’ East End area, showing how the prime residential area lives up to its name.
Glasgow house prices by property type
According to property website Zoopla, there were 18,649 properties sold in Glasgow in the last 12 months. Of these, the average prices by property type were as follows:
- Detached: £386,063
- Semi-detached: £232,525
- Terraced: £188,276
- Flats: £157,953
Of course, many factors influence the price of each sale, including area, number of bedrooms, and the condition of the property among other factors, but these figures are comparatively higher than in recent years.
Are house prices rising in Glasgow?
The average house price in Glashow increased by almost 10% in 2021. The UK House Price Index showed the average price of a property in Glasgow was up 9.6% in November 2021 (£164,382) compared to November 2020 (£149,927).
The UK Government HM Land Registry showed that prices increased in Scotland by an average of 11.4% in 2021. Although Glasgow didn’t quite reach these heights, the increase was close to the UK annual rate of 10%.
Many experts believe that Glasgow property prices have grown steadily and will continue to do so. Either way, the above figures show how popular the Glasgow market has been, and offers a wide array of options for house buyers new to the market, and looking to move along the chain.
Figures released by the Nationwide Building Society shows that first time buyers will pay an average of £138,294 for a property in Glasgow. This is a massive £102,210 less than the average price in Edinburgh which represents the most expensive average for first-time buyers in Scotland with average prices of £240,504.
Sold house prices are rising in Glasgow, but are more in line with the average income compared to other parts of the UK. For example, Chelsea and Kensington in London are the most expensive in the UK, with prices a huge 14.7 x average earnings.
Is Glasgow a good place to invest in property?
Investing in buy-to-let properties in Glasgow is a popular option. As a modern city with a thriving economy, large student population, excellent transport links and high demand for rental properties, Glasgow remains an attractive option for property investors.
Several areas are considered to be full of promise, with Dennistoun being one of them.
With property prices averaging £144,416 for the last year, Glasgow’s East End district of Dennistoun was named one of the coolest neighbourhoods in the world by Time Out Magazine.
There is an array of craft beer bars, hip restaurants, and of course, Glasgow’s mediaeval Cathedral adding to the attraction. Housing is more affordable than other parts of Scotland’s biggest city but there is plenty for the culturally minded, and a truly independent spirit.
Govan represents another potential investment opportunity as average house prices were £125,749 in 2021 – up 30% from the previous year. It is a residential area with significant investment in place. This includes the £29.5 million pedestrian/cycle bridge being built over the River Clyde between Govan and Water Row.
Shawlands remains a popular option and is located in the southside area of Glasgow. Named one of Scotland’s best places to live, there are plenty of local businesses, restaurants and nightlife aplenty. This is how average property prices were £188,194. The schools and properties are considered to be high quality in Shawlands, and there are convenient transport links via the M8 and M77.
Many experts believe that Glasgow represents value for money, and for a city of such stature and size, it is no wonder that investors continue to flock to the area from within the city, and afar.
Sell your house fast in Glasgow
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