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A Strong Property Market in Glasgow Posted: 7th November 2019

Across the UK there are reports of difficulties in the property market as we approach yet another Brexit date. The time it takes to sell a home has hit a three year high and vendors are reducing the price of their home by as much as £10,000 to achieve a sale.

Although a typical property takes as much as three months to sell, Glasgow and Edinburgh are still the fastest selling property markets in the UK. Homes in these two cities take just five to six weeks to sell. By comparison, property in London and Oxford take as long as 15 weeks.

The stats from Zoopla show that homeowners are accepting offers that are on average £9,800 lower than the asking price. However, Glasgow and Edinburgh were the only cities in the UK not to register a discount, with properties typically marketed as ‘offers over’ and with sales of 6% to 7% above asking price achieved. We are seeing higher figures than this in East Renfrewshire.

Brexit uncertainty is continuing to have an impact on the overall property market and affecting the general feeling here in the UK. However, this doesn’t seem to be felt as strongly in Glasgow as it is in the rest of the country – and even less so in East Renfrewshire where demand for family homes nearest the countries best schools is still in high demand. In contrast, housing market conditions are weakest in London, Oxford and Aberdeen

While Brexit uncertainty is continuing to impact overall sentiment, the affordability of property has a bigger impact on market dynamics at a city level.

House prices in UK cities rose by an average of 2.4% in the year to the end of September with Glasgow posting a 3.1% rise. Growth was subdued in London, with prices rising by only 0.1% year-on-year while prices in Cambridge fell.

Whatever your reason for moving; whether it's for extra space, to downsize or you may simply have found your dream home, Nicol can help. Our knowledge of the local property market helps us develop a marketing plan that's right for you and your property.
We want our clients to be delighted with the service we provide. Listening to your needs and understanding your requirements is our starting point. To find out more about our approach to selling homes, download our comprehensive Guide to Selling your Property here.
If you are planning on selling your home, contact Nicol Estate Agents today for an appraisal of your property. Our Managing Director Douglas Nicol and Sales Manager Daniel Cohen carry out hundreds of market appraisals every year, giving them an intimate and unparalleled knowledge of the property market in Glasgow, from city centre apartments to family homes and building plots. We will talk to you about the property market in your area, compare sales evidence, local demand for similar properties, outline our tailored marketing plan and provide details of our sales support strategy right through to completion.