Bearsden & Milngavie Housing Sales Market Review

Autumn/Winter 2020

"Bearsden & Milngavie have long been the go-to destinations for families looking for a high quality of life, open space, good schooling and fantastic amenities. As a result of the lockdown, these qualities have become even more desirable, which has led to the increase in the number of enquiries we have been receiving from buyers looking to move out of the city, or to upgrade to a larger house with more outdoor space.”

Siobhan Cox, Director, Rettie Bearsden

KEY FINDINGS:

• The average house price in Bearsden & Milngavie has risen +6% from September 2019 to September 2020
• Bearsden has seen a jump in demand as buyers are looking for more space and a better quality of life
• Supply remains a constraint in the market, with Bearsden & Milngavie residents being more content with their properties and less willing to move than in more urban locationson year
• The number of sales in Bearsden & Milngavie to Q3 2020 are -39% lower than the same period in 2019

Family Life

As an established family residential destination, the Bearsden market has always experienced high demand from families looking to move out of the city or move up the property ladder. However, in the wake of the Covid-19 lockdown, demand for the housing and lifestyle available in Bearsden has never been higher. Unlike other markets, which have seen a jump in properties coming to the market, often as people look to upsize, there has not been the same increase in supply in Bearsden despite the increase in demand.

With most residents already living in Bearsden content with their property and lifestyle, the motivation to move has not been the same as in more urban markets. This has meant that supply in the market has not been consistently high despite the restrictions during the Spring months. This has supported values in the local market.

The combination of these factors has meant that strong premiums over Home Report values have been achieved. The limited supply in the market has also meant that, so far in 2020, the total value of sales in Bearsden is -39% lower than during 2019.

Looking ahead, the increased demand for family homes, outside space and high-quality lifestyle living means we expect to see demand remain strong in the local market compared to most other locations.

If you are looking to sell your property in Bearsden or Milngavie, please don't hesitate to contact our Bearsden Team .

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