– Repossessed houses in Glasgow are on the rise.
– Glasgow has a population of 1,239,000.
– That’s an estimated 516,250 households.
– The average house price is £180,188.
House prices are rising year on year around the UK, and this trend is especially present in the city of Glasgow. According to the Times, average renting price in Glasgow has exceeded the countries average for the first time at 742 pound a month. In fact, Buysassociation.co.uk reported that West Dunbartonshire, an area on the outskirts of Glasgow, had property prices increase by 10% between November 2016 and November 2017.
Repossessed Houses in Glasgow
In addition, experts anticipate this will continue, with Savills predicting property prices to rise by 19% in the next 5 years across West Glasgow. Considering this, Glasgow could have magnificent potential for property investment. However, is it is already a well established city for property investment, there are still many Glasgow homes on the market that will not be good value for money. With the rising property prices this could be a fantastic time to invest in a repossessed house in Glasgow.
As simple as it sounds it is important to still try and get the best deals possible – If you want to invest wisely you should invest in a property that is below market value based in an up and coming area, rather than going to an Estate Agents and buying a modern property in a more central area.