The property market in Glasgow has seen the biggest price hike in over a decade, and as of recently, the average house price in Glasgow is around £200,000. Despite that, this is still around 13% down from the 2006 high the property market in the area managed to reach.
If you’re looking to pass on a property and cash in on your investment, this article is just for you. Today, we’re going to cover the Glasgow property prices and how they have changed over the past year. We’re also going to look at the Glasgow house prices per area and help you decide if now is a good time to sell.
Glasgow Property Market Changes in the Past Year
We’ve had a pretty tumultuous property market in the past few years. With the pandemic and various economic factors at play, house prices were seeing an increase all over the UK. But in 2022, things started to settle down.
So, how did that affect Glasgow’s property market over the past year?
Over the last year, property prices in Glasgow continued to rise. The average house in the area sold for £200,202, a 5% growth from the previous year. Some areas in Glasgow saw a bigger increase than others, and as you can imagine, those owning a property in key areas have benefited the most. Below, we’re going to take a look at the housing market in Glasgow by area.
Glasgow House Prices by Area
Like every city, property prices in Glasgow vary quite a bit depending on the area that you’re looking at. In the section below, we’ll go over the different areas in Glasgow and what average property prices look like right now.
Milngavie is one of the more affluent postcodes in Glasgow, and the area has seen immense growth in recent years. Because of this, average prices are generally higher than in other Glasgow areas. Typical three-bedroom homes in the area cost around £412,750, making it one of Glasgow’s most expensive areas. With that said, sold property prices in Milngavie Road over the last year were 25% up on the previous year and 65% down on the 2009 peak of £1,178,574.
As one of Glasgow’s more affordable areas, the average property in Bearsden over the last year sold for £158,091. The area saw one of the biggest hikes in prices, so property owners in the area who have cashed in so far have managed to get a decent return on their investment.
Prices in this location have been continually rising in the past few years. Currently, the average market price for a home is around £312,436. While it isn’t the most expensive area in the city, there’s evidence that prices in the area will only rise in the coming years.
Compared to the rest of Glasgow, the G63 postcode is the most expensive. Owning a property here is a privilege, and if you decide to sell, you can expect to get, on average, around £417,715. It’s a popular area for celebrities, athletes, and other wealthy individuals in Glasgow, so buyer interest in the area is always high.
If you own a home in the area of Glasgow West and decide to cash in on it, you can expect to get, on average, around £251,505. Of course, you may sell your house in Glasgow for more or less, depending on the property’s type, size, and location.
Similarly to Glasgow West, Glasgow East also offers some of the most affordable prices in the city. The average home in the area sells for around £183,866. Experts predict that property prices in this area are starting to peak and may start to drop soon.
Robroyston is known for its relatively high average property prices. Currently, the average property price in the area is £255,393. So, if you own property in the area, now might be a good time to sell and get a great ROI.
Properties in Glasgow South sell for an average of £202,054. This puts this area right around the average of the whole city. The area hosts a creative and community-led culture that is popular among locals. As a result, buyer interest in this area is particularly high, so if you’re looking to cash in on your property, now is a great time to do so.
When Can You Get the Best Value for Your Home in the Glasgow Housing Market?
The Glasgow housing market is very strong and competitive. It regularly scores very high amongst property markets across the UK. And while prices aren’t as high as in some major cities in England like Manchester and Liverpool, the city still offers a unique opportunity for investors.
Glasgow housing prices have been continually rising in the past couple of years. This is why many homeowners are looking to sell their property. If you purchased your Glasgow home a long time ago, there’s a high chance you’ll get a significant return on your investment.
If you’re looking to get the best value for your home in the Glasgow market, we recommend selling in the spring. While every year is different, this is when demand tends to go up, which is why sellers can list their homes at relatively higher prices and still get a decent amount of buyer interest.
That said, everybody’s situation is different. It can be hard to gauge the best time to sell your Glasgow property. This is why it’s important to pay attention to market trends and prices to catch the best opportunity for you to sell. That way, you get the best return on your investment.
Is Now a Good Time to Sell Property in Glasgow?
Deciding when to sell your property in Glasgow can be fairly challenging. When letting go of such a prized asset, making the right decision is essential. Currently, Glasgow’s housing market is going through a very interesting phase, where property prices have grown exponentially over the past couple of years, and there are more house buyers than ever before.
In other words, if you’re interested in selling your property, doing so at a good price won’t be a challenge. The moment you list your property for sale, you will find that many cash house buyers will show interest right away.
Experts predict that we’re in a similar period to 2006, when house prices went up tremendously and then crashed. So, the last thing you need to decide is whether or not you want to sell your property. As property experts, we believe that the, if you want to play it is safe and cash in on your investment, now is a great time to do so