Southside takes the lead in Glasgow property boom

23/01/2020 13:29:54

Property prices in Glasgow have risen by 15% in the past decade with Pollokshields, Shawlands and Govan singled out for offering some of the best value homes in the UK.

The SSE Hydro, the emergence of Finnieston as a hipster hotspot and the growth of the financial services and creative technologies sectors, which have attracted a wave of young professionals to the city, are all factors contributing to its growth.

Survey after survey now lists Glasgow as one of the most desirable places in the country to live because of its enviable combination of relatively high wages and affordable homes.

The typical cost now of a home in the city is now £123,577 compared with a UK average of £257,200 and some of the best buys are in the southside, according to information provided by Zoopla, the property portal.

It analysed the numbers and worked out the estimated average cost of a house in some of Glasgow's most popular areas.

The average value of a property in Pollokshields is £356,212, some £16,835 (4.96%) higher than this time last year although the average price paid in the past year was £251,881.

Scottish Property Centre recently marketed a three bedroom flat in Keir Street,  for offers over £170,000 and with Home Report value of £180,000, achieving a sale for £198,250.

Shawlands saw average property values rise by £8,423 to £178,189 in the same period with the average price paid £169,692.

The popularity of this south side hotspot has seen a real boom in recent years - with over 400 homes being purchased in the area in the last 12 months. The average price for flats in Shawlands was £151,839, with terraced houses for going for £297,019.

 A three-bedroom flat in Norham Street, marketed by Scottish Property Centre for offers over £169,000 and with a Home Report value of £180,000, sold for £201,625

Govan too has seen its popularity among homebuyers soar with 268 sales in the past year, pushing average property values up by £5,160 to £106,310, with the average price paid standing at £97,890.

 In terms of property types, flats in Govan sold for an average of £94,012 and terraced houses for £116,611.

 Craig Smith, Director of Scottish property Centre Shawlands, said: “Glasgow has experienced a real flourishing in recent years and that’s had an impact on the property market which has rarely been so buoyant, and it shows no sign of slowing.

 “The relative scarcity of properties coming onto the market has kept values high and rising which is great news for owners who are seeing significant returns on their investment.

 

“As an estate agency we’d like to see the government devise a forward-looking housebuilding strategy to allow more people in the city to become homeowners and take advantage of this boom.”

 

For more information on properties available in your area call your local Scottish Property Centre branch or visit www.scottishpropertycentre.net.

 

 

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