HOUSE prices across Glasgow are booming with prices up an average 16,000 in a year.

HOUSE prices across Glasgow are booming with prices up an average 16,000 in a year.

Glasgow University's latest quarterly house price report shows that annual property price inflation in the West of Scotland is now more than 11%, almost three times the 4.1% rate of growth a year ago.

Prices in Strathclyde have risen by almost 15,000 in the last year, with almost half of that - around 7000 - occurring in the last three months.

And Glasgow has seen the greatest rise of anywhere in the region with prices rising by 12.1% compared to 9.5% across the rest of the west.

In the West End, prices are now rising three times faster (13.1%) than they were a year ago (4%), but prices rose just as quickly in the East End and in North Glasgow.

In the East End prices went up 13.1% to an average selling price of 112,245. In the north of the city, prices have risen 13.8% to 108,946, and on the South Side by 8.1% to 137,332.

The average price for a property across Glasgow as a whole now stands at 154,409.

Professor Gwilym Pryce of the Urban Studies Department at Glasgow University, said: "Particularly strong price rises were observed in the West End, East End and North Glasgow, all of which have seen price rise over the last year by more than 13%.

"The boom seems particularly robust in the West End where annual price inflation has increased almost unabated for five successive quarters."

The only signs of a possible slowdown in the West of Scotland are in the previously booming suburbs in East Dunbartonshire and East Renfrewshire where property inflation has fallen sharply.

In the case of East Renfrewshire, prices were unchanged over the last year, after increases well above average in previous years.

Since 1999, prices in the area have risen by 178%, compared to an average of 134% for the region as a whole.

Despite this, Professor Pryce added: "Even though the full effects of interest rate changes are still working through the system, a dramatic downturn seems unlikely.

"In fact, the successive falls in selling time over the last few quarters in the region as a whole are perhaps an indicator that demand remains high relative to supply."

However Michael Samuel of GSPC, who compiled the report in conjunction with Glasgow University, believes a slowdown is coming.

He said: "At least one more increase in interest rates is expected, possibly this week, and another could follow.

"Our view is that the slowdown in the market has been delayed, not cancelled."