Property across Glasgow’s sought-after southside is selling for almost 25% more than the city-wide average, analysis of figures compiled by Savills via MyHousePrice.com has revealed.
The average price of a home in the G41, G42, G43, G44, and G5 postcodes between July 2023 and June 2024 was £219,000 – 24% higher than the Glasgow average of £177,000.
Glasgow-based Westpoint Homes said an increasing number of house hunters are turning to new-build homes to avoid the ‘offers-over’ lottery – including its new Cottonyards Development in New Gorbals – with the fixed-priced aspect of properties proving attractive, alongside other credentials including improved energy efficiency.
Caryl Speirs, sales manager at Westpoint Homes, said: “The southside of Glasgow continues to be the most popular part of the city for people looking for new homes, and consequently many are finding themselves disappointed as traditional properties sell for as much as 20% over home report value.
“The price of property in these postcodes has gone through the roof in recent years, and it’s easy to see why with access to a host of amenities as well as some of the most attractive neighbourhoods in the city.
“We have received an increasing number of enquiries from house hunters becoming disillusioned with that process, as fixed price means they can guarantee a property without having to go through the pain of the ‘offers over’ lottery. The price you see is the price you pay, all without the added stress of a closing date, which is often part of the second hand property buying process.”
Almost six-in-10 Scots (57%) believe it’s unlikely they can buy a home in the current market, according to a survey by Westpoint Homes.
Of those in a position to make an offer, around 40% say they’d avoid traditional homes as they will sell for way above home report value.
