Property prices still booming in West End

Glasgow's West End is one of the top property hotspots in Scotland despite the recent downturn.

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The West End is one of Scotland's property hotspots
The West End is one of Scotland's property hotspots

Research carried out on property sales across the country has found the West End of the city is outperforming most of the rest of Scotland.

Top areas are Dowanhill and Hyndland, Botanics and Kelvinside and the Park area.

Prices in Park have ­increased by 15% in the past year with the average sale price almost £360,000.

Prices in Botanics and Kelvinside rose by 10% and there was a 5% hike in the cost of property in Dowanhill and Hyndland.

Faisal Choudhry, head of research at Savill's ­estate agents, said: "Glasgow's West End is one of a few hotspots across ­Scotland which is boosting the overall residential market.

"The average sale price is 109% higher than that for the Glasgow City local authority area as a whole.

"Demand is increasingly being driven by young professionals and we expect the West End to continue to outperform Scotland as a whole over the next five years."

In the past year, five properties in the area sold for £1million or above.

The majority of house sales were in the £100,000 to £300,000 market ­although the number in the £200,000 to £300,000 price band increased.

Mr Choudhry said: "The recovery has happened and it's onwards and ­upwards from here.

"The market has been supported by what I refer to as local heroes, primarily located in the core central locations of the Scottish hubs of Aberdeen, Edinburgh and Glasgow.

"One such local hero is Glasgow's West End where the residential market over the last year has been robust."

In the year to March 31, a total of 620 properties sold in the West End - up more than 120 from the crash in 2010.

Savills average selling price in the West End is ­almost £249,000.

Just over half the buyers are from Glasgow with 46% coming from outside Scotland.

And 28% of the people who buy homes in the area pay with cash.

The firm says on average it takes just 38 days ­between a property coming on the market to ­missives being concluded.

Chris Breckenridge, associate director of Savills in Glasgow said: "It is great to see confidence returning to Glasgow's residential property market and this is being led by a surge in demand in the West End.

"With its bars, restaurants and easy access to one of the most vibrant ­cities in the UK, demand for quality prime property in this location is currently outstripping supply.

"Glasgow's West End is generating fierce competition from local, Scottish and international buyers."

vivienne.nicoll@ eveningtimes.co.uk

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