Glasgow West End Housing Sales Market Review | AUTUMN/WINTER 2020
Glasgow West End Housing Sales Market Review | Autumn/Winter 2020
"After lockdown restrictions were lifted we have seen an unprecedented level of market demand. With limited housing supply in the market, sellers have enjoyed highly competitive closing dates with values over home report being consistently achieved. Despite the high levels of activity there remains a strong appetite in the market.”
Maitland Walker, Managing Partner, Rettie Glasgow West End
- The average house price in Glasgow was over £236k in September 2020
- Supply post lockdown has been 45% higher than during the same period in 2019
- Despite the active market post lockdown the overall number of sales in 2020 is down-42% in the year to September 2020 compared with the same period in 2019
- Rettie & Co. have brought the greatest value of property to the Glasgow West End market in 2020
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A Market in Demand
Demand in the urban Glasgow market saw a positive start to the year before the impact of the pandemic. As restrictions were introduced at the end of March new listings coming to the market in the West End and City Centre fell to near zero. The extended period of pent-up demand post lockdown led to a surge in activity once the market reopened at the end of June.
During July to September, the number of new listings coming to the market was been between 50% and 75% higher than the same weeks during 2019. Overall, since lockdown was lifted there have been 45% more listings during July to September 2020 compared with the same period in 2019.
Since the market has reopened, there has been strong motivation to enter the market and transact quickly before any potential slowdown later in the year. Since July, Rettie & Co. has seen uprecedented actvity, bringing over 23% of the total value of property to the market in Glasgow’s West End.
While a high level of pent-up demand was anticipated with the return of the market, based on the feedback from buyers we kept in contact with over the lockdown, as well as new registrations of interest, the strength of demand has led to the most active Summer market in a decade. Demand has been especially strong for high quality properties and locations in Glasgow’s West End as people look to upgrade or upsize their living arrangements.
If you are looking to sell your property in Glasgow West End, please don't hesitate to contact Maitland Walker.
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