Homes in the southside of Glasgow are being sold for almost 25 percent more than across the rest of the city, according to one of Scotland’s top estate agents.

Figures compiled by Savills show the average price of a house in the G41, G42, G43, G44 and G5 postcodes between July 2023 and June 2024 was £219,000 – which is 24% higher than the Glasgow average of £177,000 which was recorded in June this year.

The average price paid by first-time buyers in Glasgow was £159,000 in June 2024, which is also up by 4.2% on the £153,000 it cost a year ago. For homes bough with a mortgage, the average price was £187,000 in June 2024, a jump of 5.1% from June last year when they cost £178,000.

The new figures come at the same time a national survey by property developer Westpoint Homes revealed almost six-in-10 Scots believes it’s unlikely they can buy a home in the current market. Of those who are in a position to make an offer, around 40% say they’d avoid traditional homes as they will sell for way above home report value.

The Glasgow-based developer said an increasing number of house hunters are turning to new-builds in a bid to avoid the ‘offers-over’ lotter, with the fixed price aspect of properties proving attractive alongside other credentials including improved energy efficiency.

In the same survey, it was found that 49% of Scots believe new builds provide greater energy efficiency while 39% reckon they would require less maintenance.

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Caryl Speirs, Sales Manager at Westpoint Homes, said: “The southside of Glasgow continues to be the most popular part of the city for people looking for new homes, and consequently many are finding themselves disappointed as traditional properties sell for as much as 20% over home report value. 

“The price of property in these postcodes has gone through the roof in recent years, and it's easy to see why with access to a host of amenities as well as some of the most attractive neighbourhoods in the city. 

“We have received an increasing number of enquiries from house hunters becoming disillusioned with that process, as fixed price means they can guarantee a property without having to go through the pain of the ‘offers over’ lottery. The price you see is the price you pay, all without the added stress of a closing date, which is often part of the second hand property buying process.

“We invest time and resources to take homes beyond the industry standards of construction, design, and energy efficiency. Significant financial savings every year – that is the benefit you can expect from the reduced energy bills in your new home. In fact, new homes are typically six times more energy efficient than older properties, and generate less than 60% of the CO2.”