Glasgow’s suburbs are predicted to see the biggest rise in average house prices across the whole of Scotland over the next five years, according to Barclays’ latest UK Property Indicator.
As reported in both Scottish Financial News and Scotland B2B, desirable suburban locations on the outskirts of Glasgow’s city centre, such as East Renfrewshire and East Dunbartonshire, are expected to see a 23.8% and 22.5% rise respectively in average house prices over the next five years.
This is according to Barclay’s UK Property Indicator, which found that East Renfrewshire in particular will see the biggest average price increase of any area in Scotland; it was the only Scottish region to make it into the top 20 areas of highest growth across the UK.
What’s fuelling the increase?
As we’ve witnessed here at Clyde Property, the Barclays report found that despite the current political uncertainty (due to Brexit and the snap General Election), the property market remains robust, with a strong demand remaining across the country’s various regions.
Why are Glasgow’s suburbs expected to see the largest rises?
According to the report, both East Renfrewshire and East Dunbartonshire benefit from a high percentage (53%) of residents educated to degree level – thus increasing their potential to be in higher paying jobs.
The allure of excellent schools, high quality shops, restaurants, cafes and pubs and an easy commute into the city centre means that areas such as Giffnock, Newton Mearns and Bearsden remain popular choices amongst young professionals and those with families alike.
Nestled within East Renfrewshire are various desirable, affluent suburbs such as Giffnock, Newton Mearns and Netherlee. Benefitting from a raft of exceptional local amenities, as well as a number of well-performing primary and secondary schools, it’s no wonder that these areas of Glasgow’s south side prove so popular with buyers. Below are a couple of properties within the area on our books or that have recently sold.
Berryhill Drive, Giffnock – Offers over £449,000 – SOLD
This extended detached bungalow with its striking red sandstone façade benefits from its location, ideally positioned within walking distance of the centre of Giffnock. Offering impressive levels of accommodation over two floors and with a private rear garden that isn’t overlooked, despite being new to market, this property quickly sold via Clyde Property’s Clarkston office.
Newton Place, Newton Mearns – Offers over £460,000 – UNDER OFFER
Another affluent pocket of East Renfrewshire, Clyde Property continues to see strong demand for all types of properties within the Newton Mearns area. Take this new-build style detached property as an example. Built 21 years ago, this spacious home extends to circa 2,300 sq ft of impressive family accommodation that is in truly ‘move-in’ condition. Situated within the shadow of Mearnskirk Parish Church with large amenity lawned gardens, this property (upgraded by the current owners) is already under offer despite also being new to market.
Oakley Drive, Netherlee, Glasgow – Offers over £380,000 – SOLD
Another property that was new to market and that has quickly sold is this impressive sandstone semi-detached villa. Build in circa 1925, it extends to approximately 175sqm of high quality spacious family accommodation, formed over three levels. It sits within the desirable East Renfrewshire locale of Netherlee, and Clyde Property’s Clarkston office noted that, as with many properties in this area, there was a lot of interest/demand in the property.
Chapelton Avenue, Bearsden, Glasgow – Offers over £525,000 – UNDER OFFER
Set within a picturesque tree lined street in the sought after locale of Bearsden, Glasgow, this stunning semi-detached period property boasts a unique combination of beautiful original features coupled with an ultra-modern extension to the rear. It’s located just a short stroll away from Bearden’s local amenities, including shops, eateries and supermarkets. A house that truly has the wow factor, Clyde Property’s Bearsden office has is currently dealing with the sale – and the property is already under offer.
Heathfield Drive, Milngavie, Glasgow – Offers over £675,000 – NOW SOLD
Located on the outskirts of Glasgow, in Milngavie, this prestigious address belongs to only a handful of Victorian stone-built homes. With stunning views over Tannoch Loch to the front of the property, this home offered real kerb appeal – and continued to impress viewers once they stepped inside, too. So much so in fact, that under Clyde Property’s Bearsden office, the sale was completed just seven days after the property came onto our books.
Rutherford Avenue, Bearsden, Glasgow – Offers over £415,000 – UNDER OFFER
Built by Avonside Homes in the mid-1990s, this spacious four bedroom property boasts 2500 sq ft of living accommodation thanks to a contemporary extension. Also benefitting from four public rooms and three bathrooms, this property sits on the fringes of Bearsden so while befitting from excellent commuting distance into Glasgow; it also offers uninterrupted views of the Campsie Fells. Like the others above, this property has already generated a high level of interest with Clyde Property Bearsden’s office due to the accommodation on offer as well as its excellent location.
What about house prices rise elsewhere?
The Barclays report also reported that there is expected growth in other areas too, including the Scottish capital. It found that average house prices are set to rise in Edinburgh by 20.2% over the next five years and by 19.1% in Stirling.
Overall, across the entire UK, the property market is said to be performing well, with prices set to rise by an average of 6.1% by 2021; this will bring the average value of a UK property to near £300,000.
So, whether you’re thinking of investing or simply moving house, why not pop into your nearest Clyde Property office? Our local experts are on hand (until late) seven days a week and have their finger on the pulse when it comes to anything changes within their respective local property markets.