
It is no secret that house prices in and around our city are much cheaper compared to other cities across the UK. However, what if we told you Glasgow and its surrounding areas have the best housing markets in the UK in terms of house prospects for price growth?
Zoopla did a survey on the housing market in the UK, analysing 120 postal areas around the country. The best housing markets were determined by looking at factors such as ” the affordability of homes, how quickly property is selling, how much asking prices are being cut to attract demand and how many homes have been on the market for more than six months”.
Motherwell took the top spot as the best housing market in the UK for house price growth, with an average house price growth percentage yoy (year on year) of 3.8%, and average house prices at £129,055. Plus, it only takes 13 days to sell a house in the postal area, and only 8% of the prices needing cut below asking.
Glasgow took the unsurprising second place, with house prices averaging £157,764, and the yearly price growth at 2.9%. Not bad for a major city if you ask us! Plus, it only takes 15 days to sell a home here on average and only 11% of the homes stay on the market for longer than six months.
Paisley took the third spot, while Falkirk is fourth on the list. Kircaldy is fifth on the list, and Kilmarnock took the sixth spot in the whole of the UK.
Top ten housing markets in the UK
UK rank | Postal area | Country/ region | Average price | House price growth %yoy | Time to sell (days) | % stock >6m old | Asking price cut >5% |
1 | ML – Motherwell | Scotland | £129,055 | 3.8% | 13 | 13% | 8% |
2 | G – Glasgow | Scotland | £157,764 | 2.9% | 15 | 11% | 8% |
3 | PA – Paisley | Scotland | £134,472 | 1.3% | 16 | 23% | 12% |
4 | FK – Falkirk | Scotland | £164,106 | 3.5% | 14 | 14% | 8% |
5 | KC – Kirkcaldy | Scotland | £164,694 | 3.3% | 17 | 24% | 10% |
6 | KA – Kilmarnock | Scotland | £122,013 | 2.6% | 15 | 21% | 15% |
7 | EH – Edinburgh | Scotland | £247,072 | 1.6% | 21 | 18% | 8% |
8 | PH – Perth | Scotland | £197,761 | 1.4% | 25 | 31% | 13% |
9 | DD – Dundee | Scotland | £148,554 | 1.4% | 22 | 32% | 16% |
10 | NE – Newcastle | North East | £163,578 | 2.1% | 28 | 28% | 16% |
The news also comes after North and East Ayrshire were named as the best places for first-time buyers to purchase a home in the UK, so it’s safe to say West Coast is the place to be when it comes to real estate right now.