New homes snapshot – demand outstrips supply of new build property in Glasgow

Posted 31 March 2016 by Keith Osborne

Glasgow is a popular place to live, but the demand created by regeneration and a strong economy has put pressure on the city to create sufficient new homes...

Scotland’s largest city has undergone a major transformation over the past few decades and has become a desirable place to live thanks to its regeneration programmes.

For many, its role as European City of Culture in 1990 was a huge turning point, focusing international attention onto a host of established and new amenities in the arts and encouraging investment in the city. From its historic industrial heritage, Glasgow now has one of the highest GDP per capita figures of any UK city, with particular success in financial services, communications and bio-sciences.

Kings WayEconomic success encourages people to settle, and the city has a high proportion of residents commuting from outer suburbs to its centre every day. Glasgow’s current housing strategy set a target of 22,200 new private homes between 2011 and 2020, with another target on designated Transformational Regeneration Areas throughout the city of 6,500 affordable and mid-market new homes and 600 for social rent.

The Commonwealth Games, hosted by the city in 2014, led to a surge in new homes when the athletes’ village was converted to residential property following the event, a legacy of 700 new properties.

A new Affordable Cities Review from Bank of Scotland has identified Glasgow as Scotland’s second most affordable city for housing, with an average house price of £159,580, just over five times the average salary. However, the report also noted that average affordability in Scotland as a whole is declining, from 5.25 to 5.36 times average annual earnings.

There is optimism for Glasgow’s property prices in 2016. At the start of the year, Bob Fraser, senior property partner at Aberdein Considine, told The Herald: “Glasgow is a busy market right now and I can see that continuing. The city is really flourishing now after taking longer than others to recover from the financial crash.”

However, this is partly driven by a shortfall of properties available to buy, including new build homes. Mark Hordern, chief executive at estate agency Pacitti Jones, told the Scotsman recently: “Sales in and around Glasgow are running ahead of new instructions, limiting choice for buyers and creating competition for good quality properties. Closing dates are becoming increasingly commonplace and the great majority of properties are selling for their Home Report value or above.

New homes for sale in and around Glasgow

Located back from the banks of the River Clyde, Kings Way is Barratt’s newest development, close to the city centre, with a range of three-bedroom semi-detached and terraced homes. Prices from £173,995.

AlmandineThe final release of Almandine, an apartment development from Ogilvie Homes in Glasgow’s West End, is coming on sale soon, following the sell-out of the first two phases. The location is great for the city’s commercial, leisure and university districts.

David Wilson Homes will be constructing 94 new apartments and houses within the former grounds of the city’s BBC Studios at The Botanics. Currently on sale from £325,000, a number of these properties will benefit from views over the River Kelvin.

In the east of the city, Keepers Gate at Ellismuir is a Miller Homes development close to Calderbraes Golf Course. The current release of four- and five-bedroom detached homes is priced from £253,000 and provides convenient access to the city centre and out across the Central Belt.

Kier Living Caledonia has a collection of one and two-bedroom terraced properties at The Villas, at Hawkhead Village in Paisley. The development is just a short drive to Glasgow city. Prices start at £88,995 for the one-bedroom home and £124,995 for the two-bedroom, with a sales office open daily.

In Bishopbriggs, just four miles from Glasgow city centre, Mactaggart & Mickel Homes has built one-, two- and three-bedroom homes at Bishops Grove and has just one property remaining for sale, a three-bedroom ‘Hawthorn’ three-storey house at £229,995. It’s a great commuter base, with a nine-minute rail journey into the centre.

From a more central base, the collection of one- and two-bedroom apartments and two-, three- and four-bedroom houses in Oatlands at Avant Homes’ Richmond Gate may fit the bill. Priced from £127,000, and with Help to Buy Scotland available, these properties are just a mile south-east of the city centre and close to the regenerating banks of the River Clyde.


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