09 Jul 2018

Revealed: The reason Glaswegians are £20,000 better off than in 2016

Revealed: The reason Glaswegians are £20,000 better off than in 2016

Homeowners in Glasgow are more than £20,000 better off than in 2016 due to a sharp rise in property prices.

New figures from the Registers of Scotland show that the average price paid for a home in May this year hit £156,610.

That's up more than 15% on the £136,141 average price recorded in May 2016 - meaning homeowners selling today will fetch £20,469 more than they would have two years ago.

Seller's market

Gavin Crowe, a property Partner with Aberdein Considine in Glasgow, says the city's market has been growing at pace, particularly over the past 12 months.

"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," he said.

"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.

"The markets in both the South Side and West End continue to be strong and there's now doubt it's a seller's market due to the lack of stock available."

Moving home this summer?

If you are thinking of moving home this summer, read our hand Glasgow Summer Guide.

Alternatively, you can pop in to speak to a friendly property expert at our branches in Byres RoadShawlandsWaterloo Street or Ayr Road in Newton Mearns.

Click here to search for Glasgow properties for sale.

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