Contact information for Scotland’s leading national law firm, solicitor estate and letting agent. Aberdein Considine, 138 Ayr Road, Newton Mearns, Glasgow.
138 Ayr Road, Newton Mearns
DX: DX 501609 GIFFNOCK
Viewings and valuations are available outwith these hours.
We are proud to offer clients the support of some of Glasgow and East Renfrewshire’s most experienced property professionals from our estate agency and lettings office in Newton Mearns. We also offer our full range of legal and independent financial services from the site.
The market in Glasgow South Side remains strong and there is no doubt that it is a seller’s market due to the lack of stock available. There are certainly plenty of willing buyers, significant competition, an aggressive selling price and in many cases a sales figures ten to fifteen percent over the Home Report valuation.
In the third quarter of last year, Glasgow continued a positive run, with the value of properties changing hands rising to over half a billion pounds, a year on year increase of almost 14%.
The general attitude continues to be positive, and viewing numbers and offers are increasing daily as we go forward in 2018. As we expected the market will continue to pick up pace with a significant number of properties coming to the market in traditionally popular spring months which should generate plenty of interest and a high number of sales.
In Glasgow, average prices have risen from the previous year. The market conditions remain strong, coinciding with Scotland reporting a ten year high in the number of property transactions.
Properties up to the value of £400,000 continue to do well and seem to be receiving the most viewing requests and interest, and as ever there is always a strong demand for project properties that require work.
It is an ideal time for first time buyers to get on the property ladder with mortgage lenders also having a greater confidence which has been shown in their appetite to lend. This is providing fierce competition which can only be good for mortgage deals for buyers, and provides further encouragement for the local market in the year ahead.
The south side of Glasgow rental market saw a strong end to 2017 and it remains traditionally popular.
The market continues to go from strength to strength, with the most recent figures from Citylets revealing that Glasgow hit a significant milestone in the fourth quarter of 2017, recording an average rent that is higher than the national average in Scotland. The average property in the city now rents at £742 per month, £8 above the national average.
As we enter 2018, with demand from tenants currently outstripping supply, this trend looks likely to continue. The growth seen in Glasgow contrasts with the figures seen nationally, with negative annual growth in Q3 continuing into Q4, 0.7% down year on year.
As we approach the Spring market, there remains strong demand for all types of property in the local market, with a tenant being able to secure a lease for a 2 bedroom flat for around £150 less than the cost of renting a similar flat in the West End. With lower selling prices, landlords can normally expect a better yield from this location.
Recent legislation changes in December 2017, with the introduction of the new Private Residential Tenancy has not materially affected the rental market, however it remains to be seen what longer term impact this will have. Viewing enquiries remain strong and we expect these strong numbers to hold up during 2018.
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As a valued third party partner, we have found Aberdein Considine to be extremely professional and keen to provide expert advice on technical conveyancing matters. Our customers have found their service to be personal, prompt and responsive to their needs.
Chris Preston, Director of Credit Risk, Precise Mortgages
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