Glasgow house prices dropped slightly in February, figures reveal
and live on Freeview channel 276
But the drop does not reverse the longer-term trend, which has seen property prices in the area achieve 9.5% annual growth.
The average Glasgow house price in February was £165,805, Land Registry figures show – a 0.5% decrease on January.
Advertisement
Hide AdAdvertisement
Hide AdOver the month, the picture was better than that across Scotland, where prices decreased 1.7%, but Glasgow underperformed compared to the 0.5% rise for the UK as a whole.
Over the last year, the average sale price of property in Glasgow rose by £14,000 – putting the area 23rd among Scotland’s 32 local authorities with price data for annual growth.
The best annual growth in the region was in Na h-Eileanan Siar, where property prices increased on average by 22.7%, to £156,000. At the other end of the scale, properties in the Shetland Islands lost 1.6% of their value, giving an average price of £173,000.
Winners and Losers
Owners of flats fared worst in Glasgow in February – they dropped 0.7% in price, to £139,206 on average. But over the last year, prices rose by 7.5%.
Among other types of property:
Advertisement
Hide AdAdvertisement
Hide Ad- Detached: up 0.4% monthly; up 17.8% annually; £444,745 average
- Semi-detached: down 0.3% monthly; up 12.9% annually; £241,081 average
- Terraced: down 0.4% monthly; up 12.3% annually; £206,045 average
First steps on the property ladder
First-time buyers in Glasgow spent an average of £149,000 on their property – £12,000 more than a year ago, and £43,000 more than in February 2017.
By comparison, former owner-occupiers paid £197,000 on average in February – 32.2% more than first-time buyers.
How do property prices in Glasgow compare?
Buyers paid 8.3% less than the average price in Scotland (£181,000) in February for a property in Glasgow. Across Scotland, property prices are lower than those across the UK, where the average cost £277,000.
The most expensive properties in Scotland were in Edinburgh – £315,000 on average, and 1.9 times as much as more than in Glasgow. Edinburgh properties cost 2.6 times as much as homes in North Ayrshire (£120,000 average), at the other end of the scale.
Advertisement
Hide AdAdvertisement
Hide AdThe highest property prices across the UK were in Kensington and Chelsea.
Factfile
Average property price in February
- Glasgow: £165,805
- Scotland: £180,822
- UK: £276,755
Annual growth to February
- Glasgow: +9.5%
- Scotland: +11.7%
- UK: +10.9%
Best and worst annual growth in Scotland
- Na h-Eileanan Siar: +22.7%
- The Shetland Islands: -1.6%
Comment Guidelines
National World encourages reader discussion on our stories. User feedback, insights and back-and-forth exchanges add a rich layer of context to reporting. Please review our Community Guidelines before commenting.