The residential market in Glasgow is composed of many small markets, each with their own dynamic and traits.

Residential development is important for providing new supply, but it can also be pivotal in changing the structure and demographics of markets, expanding established areas beyond their current boundaries, rejuvenating areas or providing supply for different age groups and budgets.

^{Source: Savills Research}

Victorian City Suburbia

Development continues to focus on the Victorian suburb of the West End with a number of active developments. Whilst conversions continue to be the mainstay of the market, there have been a number of new build developments, ranging from Noah’s six unit townhouse scheme to David Wilson Home’s 94 unit Botanics development.

Despite this shift towards new build, developments have remained relatively small in scale. The average size of development analysed was 37 units, with an average of 35 units reserved. Yet of those sites still active, there were on average seven units for sale. We can therefore conclude that supply in the core areas of the West End are condensed into a few developments.

The average property size is 1,314 square feet, with the average transaction value at £430,802, equating to an average price per square foot of £331. The average rate of sale here is 2.8 per month.

Due to prime values and high demand, we anticipate more focus on sites beyond the Byres Road core, including a number of potential developments in North Kelvinside, Broomhill, Finnieston and Woodlands.

Furthermore, with The Victoria Hospital and The Mansionhouse Unit coming forth for development, we expect renewed focus on the Victorian suburbs in the Southside.

Established Suburbia

Glasgow’s suburbs play a vital role in providing family housing within the city. Located within highly desirable school catchments, and offering excellent value for money, many suburban developments also offer excellent transport links into the city.

The average development size within Glasgow’s suburbs is 95 units, with an average of 47 sold and four available for sale. The average new build property here is 1,186 square foot, priced at £224,948 with an average price per square foot of £193.

Looking ahead, we anticipate more flatted developments within the most established and popular suburban locations. Apartment schemes offer first time buyers and downsizers an opportunity to purchase in their local neighbourhoods, benefitting from the community and infrastructure that come with it.

Dickie and Moore’s Matthew Court has had a mix of buyers, assisted by accessible pricing and Help to Buy, yet it has also commanded some of the highest prices per square foot of all suburban developments analysed.

New Regeneration Neighbourhoods

Regeneration is playing a pivotal role within Glasgow by breathing new life into previously dilapidated areas. In doing so, it is providing much needed attainably priced large scale supply, often in accessible locations and offering desirable amenities such as parking and outside space.

The average scale of developments here is 367 units, with an average of 181 either sold or reserved. Many of these developments have been active for a number of years, but recently they have witnessed a resurgence in demand due to Help to Buy, pent up demand and increasing confidence.

The average property in these areas is 968 square foot, priced at £139,560 and £148 per square foot, with terraced housing and flats commanding a slight premium.

We anticipate demand continuing in the more established developments, however many of these are nearing completion, such as the sold out Commonwealth Games Village development. We expect other sites to come forward with a combination of property types and tenures.