27 Jan 2016

Glasgow property prices 'to continue rising' in 2016

Glasgow property prices 'to continue rising' in 2016

 

House prices in Scotland have grown at twice the rate of England, adding £45 a day to the value of the average home.

Fresh figures show that the country's property market surged at the end of 2015 on the back of strongest sales since 2007, with prices up by 13% compared to the year before.

In Glasgow the average property rose by 1.4% during the same timeframe, and 7.7% across the year.

Further growth predicted in Glasgow

Douglas Telfer, Glasgow Property Partner at Aberdein Considine, is predicting continued growth in the Glasgow market throughout 2016.

“The figures do not surprise me at all as the market remains buoyant in Glasgow,” he said.

“Traditionally the market used to slow down significantly after October but in the last few years we have not experienced this traditional lull.

“The 13% rise year-on-year rise also comes as no surprise to me as our own sales in Glasgow increased by 14% compared with 2014 which is obviously slightly above the national average.” 

Good market of Glasgow sellers

Douglas added: “Demand continues to far outweigh supply. This lack of stock compared with the number of active buyers has resulted in properties going to closing dates more often than not and the sale prices achieved are well in excess of Home Report valuation. 

“I expect house prices to continue to rise in 2016. Mortgage rates remain at an unprecedented low rate and there are clear indications that the base rate will not rise until 2017.

“This coupled with the buy-to-let investors desperate to purchase prior to a tax rise in April will result in demand continuing to outweigh supply in the first quarter.

“We will then enter the traditional busy summer market and if the trend of recent years continues then the market will remain buoyant right through until the end of the year once again.”

Save hundreds of pounds on your home move

Aberdein Considine is currently offering Glasgow sellers free conveyancing on their next home purchase if they get in touch before the end of February.

If you would like to speak to Aberdein Considine’s Glasgow property experts, call 0333 00 66 333 or click here.

Please correct the errors below before submitting your request:

Get in touch

Our dedicated client contact team prefer to receive enquiries through our contact form. We'll endeavour to get back to you within 24 hours or during the course of the next working day.

Tick this box if you wish to receive news and offers from Aberdein Considine. By doing, you indicate your consent to receiving targeted email marketing messages from us. On each occasion that we contact you in the future, you will be given the option to opt-out from receiving such messages. You may also email marketing@acandco.com at any time to opt-out.

The personal information that you provide to us in this form will only ever be used by Aberdein Considine (as the Data Controller) for the following specifically defined purposes:

  • email you content that you have requested from us
  • with your consent, occasionally email you with targeted information regarding our service offerings
  • continually honour any opt-out request you submit in the future
  • comply with any of our legal and/or regulatory obligations