Completions in Glasgow were 85% below peak last year, but the market is now stabilising.
■ Confidence is returning to Glasgow City’s development market.
■ Victorian City suburbs continue to command a premium due to high demand and constrained stock.
■ Family housing in suburban communities with good schools continue to be in high demand.
■ Downsizers will have an increasing influence on the residential development market.
■ Attainably priced homes in regeneration neighbourhoods are in high demand.
■ Glasgow is at the forefront of all three identified residential markets.
■ In the most popular central areas of the West End and Southside price per sq ft are in excess of £250. Flats dominate here and this pushes up the city average despite the influence of regeneration sites.
■ In suburban locations prices per sq ft are between £175 and £190 and these account for the majority of family housing.
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FIGURE 1
■ Transport links and schools are key drivers for Dunbartonshire.
■ Detached properties account for 60% of properties analysed and Dunbartonshire had the highest average price for a four bed detached property of all areas analysed.
■ Furthermore Dunbartonshire has the largest average size of flat and one of the highest price per sq ft.
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FIGURE 2
■ Ex-industrial sites, strong train connections and attainably priced homes are the key drivers here.
■ Once again detached properties account for the majority of properties analysed. North Lanarkshire has the lowest average price across the greater Glasgow area.
■ However, sales rates here are some of the strongest with a number of sites exceeding four per month.
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FIGURE 3
■ South Lanarkshire is populated by established towns located along train lines. Each town has its own community and supply is a key factor in terms of prices.
■ Bothwell has limited supply and is well established and prices per sq ft are around £250.
■ Meanwhile in East Kilbride, which is further away from Glasgow and where supply has been plentiful, average prices per sq ft are in the region of £175.
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FIGURE 4
■ The market in Renfrewshire is notable by the measurable good schools effect and popular ex industrial regeneration sites.
■ Newton Mearns accounts for 25% of new build development analysed in Renfrewshire. It is also responsible for the highest price per sq ft of £243.
■ By comparison, developments in more up and coming areas such as Ferry Village and Nitshill the average £ per sq ft is around £160 to £175.
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FIGURE 5
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