The property market on Glasgow’s southside is experiencing a significant surge, with prices soaring nearly 25% above the city-wide average. This trend is driven by a combination of high demand, limited supply, and the appeal of new-build homes that offer fixed pricing and modern amenities. As traditional homes continue to sell well above their home report values, many buyers are turning to new-builds to avoid the competitive ‘offers over’ process and secure their dream homes with less stress.
Rising Demand and Limited Supply
The southside of Glasgow has long been a desirable area for homebuyers, thanks to its attractive neighborhoods, excellent amenities, and strong transport links. Over the past few years, the demand for properties in this area has only increased, leading to a significant rise in prices. According to recent data, the average price of a home in the G41, G42, G43, G44, and G5 postcodes between July 2023 and June 2024 was £219,000, which is 24% higher than the Glasgow average of £177,000. This surge in prices is a clear indication of the high demand and limited supply in the area.
Many potential buyers are finding it challenging to secure a home in this competitive market. Traditional properties often sell for as much as 20% over their home report value, making it difficult for buyers to find affordable options. This has led to an increasing number of house hunters turning to new-build homes, which offer the advantage of fixed pricing and modern amenities.
The Appeal of New-Build Homes
New-build homes are becoming increasingly popular among buyers on Glasgow’s southside. One of the main reasons for this trend is the fixed pricing aspect of these properties. Unlike traditional homes, which often sell for well above their home report value, new-builds offer a more predictable and stress-free buying process. Buyers can secure their homes at a fixed price, without the added pressure of competing in the ‘offers over’ lottery.
In addition to fixed pricing, new-build homes also offer several other advantages. They are typically more energy-efficient than older properties, thanks to features such as double or triple glazing, insulation, and modern heating systems. This can lead to significant savings on energy bills, making new-builds an attractive option for cost-conscious buyers. Furthermore, new-build homes require less maintenance than traditional properties, which can be a major selling point for busy buyers.
Future Outlook for Glasgow’s Southside Property Market
The future looks bright for the property market on Glasgow’s southside. With demand continuing to outstrip supply, prices are expected to remain high in the coming years. This trend is likely to be further fueled by the ongoing popularity of new-build homes, which offer a range of benefits that appeal to modern buyers.
As more and more buyers turn to new-builds to avoid the competitive ‘offers over’ process, developers are responding by increasing the supply of these properties. This is good news for buyers, as it means there will be more options available in the market. However, it also means that competition for traditional homes is likely to remain fierce, with prices continuing to rise.
Overall, the property market on Glasgow’s southside is set to remain a hotbed of activity, with high demand and limited supply driving prices ever higher. For buyers looking to secure their dream home in this desirable area, new-build homes offer a compelling alternative to the competitive and often stressful process of buying traditional properties.
