The average house price in Glasgow is said to have soared by 14% in the last 12 months to a staggering £193,379.
According to a newly published price index, property prices are reaching an all time high with July of this year seeing the largest increase in average price in a month since March 2015 - up by £6,000.
Looking into property prices here in the city, Glasgow Live asked Zoopla which areas of the city have seen the largest rise.
As of July 2021, the following areas in Glasgow witnessed the biggest rises in property prices:
Postcode, Location, Average House Prices, Year on Year Growth
G69: Baillieston = £135,000 (4.92%)
G53: Greater Pollok = £123,000 (4.85%)
G2: Anderston/City/Yorkhill = £167,000 (4.83%)
G34: North East = £70,000 (4.83%)
G23: Maryhill = £99,000 (4.83%)
G22: Canal = £77,000 (4.83%)
G33: East Centre = £111,000 (4.75%)
G15: Drumchapel/Anniesland = £89,000 (4.73%)
G45: Linn = £78,000 (4.60%)
G32: Shettleston = £99,000 (4.55%)
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Over the past few month, we have recently been reporting on this issue with rising demand in areas such as Shawlands and Cathcart driving up prices in a 'cascade effect'.
For example: A one-bed tenement flat in a decent south side location nowadays retails at around £180,000 with a two bed at £230-240k. A one-bed in an original townhouse in Pollok Park can fetch £220k. Meanwhile a one-bed flat in a prime west end location is around £200,000.
Looking into houses in Baillieston, being the highest on the list, we found a three bedroom semi-detached house with one bathroom for offers over £179,950 which has been on the market since late-August. However if you look at the sale history, it was sold for just £110,000 in 2019 meaning in two years the price of this home has jumped by a whopping £69,950.
Prices across the city in general have been soaring regardless of how many bedrooms or what type of property it is. This has resulted in a challenging market for first-time buyers. Combine this with people now working from home and experts have said that this has resulted in property buyers seeing the highest inflation rates since 2016.
This makes it easy to see why getting on the property ladder - or moving up - just isn't that simple anymore.
