The average sale price of a home in Glasgow has increased almost 10 per cent in one year.
Published this week, the UK House Price Index shows the average price of a property in our city in November 2021 was £164,382, a 9.6% increase on the £149,927 figure recorded in November 2020.
Looking at Scotland as a whole, the average price was found to be £182,755 - £18,373 higher than in Glasgow - which represents an 11.4% increase over the past 12 months.
The report, published by the UK Government's HM Land Registry, summarises about Scotland's property market: "Scotland house prices increased by 11.4% in the year to November 2021, up from an increase of 11.0% in year to October 2021.
"Scotland house prices were growing faster than the UK annual rate of 10.0% in the year to November 2021.
"On a non-seasonally adjusted basis average house prices in Scotland increased by 1.0% between October and November 2021, compared with an increase of 0.6% during the same period a year earlier (October and November 2020).
"On a seasonally adjusted basis, average house prices in Scotland increased by 1.2% between October and November 2021."
Meanwhile, recent data shared by the Nationwide Building Society has revealed the average price buyers will pay for their first house in Glasgow.
The findings showed a figure of £138,294 for the City of Glasgow, over £100,000 less than the average price in Edinburgh, Scotland's most expensive spot, at £240,504.
The London neighbourhoods of Chelsea and Kensington are the most expensive areas in the UK with prices 14.7 times average earnings.
