06 Jul 2018

Five things you need to know if you're buying a home in Glasgow

Five things you need to know if you're buying a home in Glasgow

Are you planning to buy a home in Glasgow this summer? We're here to help!

Here's five things you need to know about buying in what is one of the hottest markets in the UK right now...

1) Move quick because prices are rising

Average property prices in Glasgow have been rising for five consecutive quarters according to Scotland's Property Monitor, research carried out by Aberdein Considine and The Times newspaper.

The average price of a home in the city rose to £154,775 during the first quarter of 2018, up 10% on the same time last year.

This means that someone who chose to wait 12 months to buy is now paying almost £15,000 more for the same property.


2) Rents are also rising... but borrowing is still cheap

The average rent paid for a property in Glasgow is now £749 per month, which is now the second highest in Scotland behind Edinburgh.

Rents in the city have been creeping up for a number of years, making letting property an increasingly expensive option.

However, mortgage rates remain at historically low levels - and purchasers are getting access to fixed rates of around 2%, allowing them to keep their monthly payment the same for up to five years. 

3) Finding a property is hard

The number of sales completing in Glasgow fell by 10.9 % during the last quarter of the year, due partly to a lack of properties coming on the market.

Our branch staff on the ground across the city say demand shows no sign of peaking yet, meaning you are unlikely to be the only person bidding for the home you have your eye on.

However, there are ways to get the edge. Enlisting the help of an estate agent, like Aberdein Considine, will allow you to access exclusive marketing databases and get first sight of properties about to come on the market.

4) Strathbungo is officially one of the best places to live in the UK

The Sunday Times recently named Strathbungo as one of the best places in the whole of the UK to buy a home.

Sandwiched between the grit of Southside and the grand villas of Pollokshields, the family-friendly enclave unites an ever-improving menu of restaurants and cafes with an authentic sense of community.

There’s a choice of secondary schools, and the improving Shawlands Academy is easing the pressure on parents to fork out for private Hutcheson’s Grammar or move to East Renfrewshire, where house prices are higher than anywhere else in the UK.

Strathbungo is 10 minutes from Glasgow Central by train; Queen’s Park and Pollok Park are close by, for a healthy helping of fresh air and green space; and, best of all, there are lots of beautiful Victorian properties.

5) You don't need to go to a bank to arrange your mortgage

There has been a lot in the news about banks closing branches - but you don't need to worry as there are better ways to get a mortgage.

As an independent adviser, Aberdein Considine can access more than 3,000 mortgage products from all the high street lenders – and in the vast majority of cases do not charge broker fees to arrange the loan. 

And you can see our advisers at a branch near you! We've got independent mortgage advisers in Byres Road, Shawlands, Waterloo Street or Ayr Road in Newton Mearns.

Each of these offices are also staffed by property solicitors, meaning you can arrange your purchase end-to-end under the same roof.

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