glasgow

Why buy in Glasgow

Glasgow is the largest city in Scotland and the fourth largest city in the UK. Sitting on the banks of the River Clyde, it has become a popular city in which to buy a home because of its lower cost of living compared to other UK cities.

10 reasons to buy in Glasgow:

  1. The great shopping areas with a vast array of malls, boutiques and retailers

  2. More than 20 museums and galleries including Kelvingrove Art Gallery, Glasgow Science Centre

  3. The arts and music scene – the Scottish Opera, Royal Scottish National Orchestra and Scottish Ballet are all based in Glasgow

  4. The Royal Concert Hall which plays host to pop and rock gigs

  5. Its selection of good universities

  6. Its culturally diverse population

  7. The many great places to eat and drink

  8. Sports legacies – it hosted the Commonwealth Games in 2014

  9. The beautiful surrounding countryside

  10. Its value for money compared to many other large UK cities

Glasgow property

Buying a home is a big decision, so it’s important to know what the housing market is like in the places you want to live.

In Glasgow:

  • there are around 310,000 residential properties according to the latest figures from 2018¹ 

  • about 302,000 of these properties are occupied and 8,000 vacant

  • about 45% of properties in Glasgow are occupied by their owners

  • around 19% of properties in Glashow are privately rented

Glasgow house prices

Properties in Glasgow had an average price of £140,523 in 2020, according to Land Registry data.²

Overall, prices in Glasgow in 2020 were 4.6% up on the previous year.

Average prices in Glasgow are only slightly higher than those in Aberdeen, where properties typically sold for £140,285 in 2020. They are still significantly cheaper than Edinburgh where the average property was priced at around £280,000.

The cost of living in Glasgow

Living in Glasgow is cheaper than Edinburgh, as well as many cities in England. This is one of the reasons why many people from England move north to live in Glasgow.

Living in Glasgow is 38% cheaper than in London.³

Here are some examples of what things cost in Glasgow: 

  • regular cappuccino – £2.89

  • pint of beer – £4.30

  • monthly travel pass – £65

  • gym membership per month – £25

  • cinema ticket – £9.50

First time buyers in Glasgow

Glasgow’s more affordable house prices and its popularity with young people make it a good place for first-time buyers.

According to research by OneFamily in 2019:

  • Glasgow is the best place for first-time buyer affordability across all major cities in the UK

  • the average property price in Glasgow is £122,500, while the average salary is £29,100, the most favourable ratio in the UK

  • the average mortgage is 3.5 times the annual salary in Glasgow, which is the lowest of all cities in the UK

The average age of first-time buyers in Glasgow is 30, compared to a UK average of 27.

Buy to lets in Glasgow

Glasgow has plenty of opportunities for people wanting to buy a home to rent out to tenants.

The large student population in Glasgow means there’s a lot of demand for rented accommodation.

Glasgow has five postcodes in the top 25 areas for rental yields across the UK. The best performing was G52. This postcode covers areas such as Hillington, Cardonald, Penilee and Mosspark. Landlords who buy here can expect a yield return of 8.71%.⁶ 

You will need to make sure you have the right kind of mortgage if you decide to rent your property out. Find out more in our buy to let and landlord guide.

New builds in Glasgow

A new build home will cost more than an older property. 

The average new build property in Scotland cost £192,107 in 2020. The average re-sold property cost £138,484.²

Best places to live in Glasgow

Situated in Glasgow’s happening and desirable West End, Hillhead is popular with students, young professionals and families alike.

Residents can enjoy the Glasgow Botanic Gardens and Kelvingrove Park, as well as an array of museums, art galleries and independent shops.

Shawlands is a good option for young families looking for the next up-and-coming area. In this Southside suburb, you can enjoy family days out at Pollock Country Park or eat in one of the suburb’s popular cafes.

This area is the home of some of Glasgow’s best sporting venues and facilities. 

Football fans can enjoy a game at Celtic Park, while other fitness fanatics can enjoy training sessions at the Emirates Arena, the Sir Chris Hoy Velodrome and the Tollcross International Swimming Centre.

Time Out magazine declared Dennistoun the eighth-coolest neighbourhood in the world – and the coolest suburb in the UK – last year.

The magazine described it as “a secluded island in Glasgow's East End” and praised its affordable housing, great pubs, thriving cultural life and array of community initiatives.

Living in North Glasgow means you can enjoy the beauty of the countryside in the middle of the city.

In the summer, the canal between Speirs Wharf and Applecross Basin comes to life when the Glasgow Canal Festival takes place. The festivities include theatre, street food, canoe taster sessions, guided cycle tours, and craft workshops.

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Sources

¹ Housing statistics | GOV.scot

² Land Registry, House Price statistics 

³ Cost of Living in Glasgow. Updated Prices Jun 2021. | Expatistan

Glasgow top for first-time buyer affordability - News | OneFamily

Best places for first-time buyers in 2020 | Nethouseprices.com

⁶  Buy-to-Let Rental Yield Map 2019 | TotallyMoney