Before you buy from auctions or investments being showcased on fancy websites or seminars, ask one of our experts to review your potential purchase. We will provide advice on rental and growth potential as part of our letting service.
For many investors, particularly from overseas, London is the go-to location in the UK for property investment, but it has become increasingly difficult for investors to get into the market in the British capital, whilst rocketing prices are seriously eating away at overall returns. In the last quarter of 2016 the average price paid for a property in London was an eye watering £608,853.
In comparison, the average price of property in Scotland was £158,094 and just £154,956 in Glasgow. Not only does this make it more accessible for investors, but a strong rental market will help investors to realise strong returns from their initial outlay.
The figures speak for themselves:
Property in Glasgow is noticeably more affordable compared to real estate in other UK locations such as London – with the rental growth outlined above, it also means that investors will be able to achieve higher returns from their investment.
There has been a significant increase in property sales in Glasgow in the last two years. In the first quarter of 2015, for example, areas such as the desirable West End and Partick saw a 50% uplift in transactions over the same period one year previous.
“Central and Western areas of Glasgow in particular have seen the largest uplift in transactions over the last 12 months driven by rising confidence in the city and a number of regeneration projects.” However, this demand for Glaswegian property far outweighs the supply of it. Although the number of transactions increased in 2016, the amount of real estate coming onto the market for sale actually fell by 12% year-on-year. This is one of the main drivers of price growth in the city, and this is ultimately good news for investors looking to achieve strong capital returns on their property.
From performing arts to live sports, there’s always plenty of things to keep Glaswegians entertained. The city is home to over 15 theatres, and both the Scottish National Opera and Ballet, as well as the Royal Scottish National Theatre, call Glasgow their homes. It regularly plays hosts to a number of annual live music and performing arts events, whilst it also hosted the Commonwealth Games as recently as 2014, which brought a significant amount of investment to the area. Glasgow is also home to two world-renowned football teams, Celtic and Rangers, who share one of the fiercest rivalries in world sport – The Old Firm.
Furthermore, Glasgow’s famous West End, a popular area amongst the city’s 80,000 student population, is littered with trendy bars, fine restaurants and quirky cafes.