The city of Glasgow has witnessed a strong resurgence in residential development, thanks to an increased appetite from landowners and developers to offer neglected and derelict land at attainable prices, and a willingness from housebuilders to transform such locations into thriving neighbourhoods in order to meet a latent consumer demand.

Going forward, we anticipate demand continuing in the more established developments, particularly those offering Help to Buy, assisting those with 5 per cent deposits to join the property ladder.

Many regeneration developments are nearing completion and it will require investment, strategic thinking and creative vision from planning authorities, developers and investors in order to maintain supply.

Starts and completions

The number of private sector starts in Glasgow in the year to September 2015, the latest figures available, were more than double the previous year at 645. Similarly, the number of completions increased by 137 per cent annually to 944.

Beyond the rising growth seen in Glasgow, both starts and completions in Scotland as a whole have remained similar year on year, with figures remaining below peak levels. Nationally, starts are 28 per cent below 2008 levels and completions are 39 per cent.

Starts and completions in Scotland and Glasgow:

Role of regeneration developments

Glasgow’s substantial growth can in part be explained by the role of regeneration developments such as the Commonwealth Village.

Regeneration development sites are playing an important and pivotal role by breathing new life into Glasgow’s previously industrial and dilapidated areas. In doing so, they are providing much needed attainably priced large scale supply, often in accessible locations and offering desirable amenities such as parking and outside space. As a result, many of these areas are gaining momentum and establishing their own communities.

How do regeneration areas compare?

The average size of a regeneration development within Glasgow is 367 units, compared with a city average of 142. The average property in these areas is 968 square foot, priced at £139,560 and £148 per square foot, with terraced housing and flats commanding a slight premium. In contrast, within Glasgow overall the average property is 1,101, with a price of £213,516 and £193 per square foot.

New build statistics for the city of Glasgow:

Further information

Contact Savills Glasgow or view available properties for sale in Glasgow