Research article

Glasgow

Like any city Glasgow’s residential and development market is not uniform. It is instead comprised of many smaller segments, each with their own demand and supply drivers

Figure 2

FIGURE 2 | Premium markets and value for money Average price per square foot by postcode sector in Glasgow
Source: kamaco Research

The West End continues to be in high demand for developers and purchasers alike. However, sites above 50 units are becoming a rare occurrence with few unidentified opportunities left to come forward.

Park Quadrant by Ambassador Homes (currently under construction) and The Botanics by David Wilson Homes (now completed). Achieving between £400 and £450 per square foot represent two of the biggest sites delivering scale in this popular market.

The strength of demand is pushing the market out beyond its traditional boundaries. Prices per square foot are now generally in the £300 to £350 range depending on location and unit size.

Meanwhile, the south side of the city is growing in popularity with the opening of well-reviewed independent restaurants giving this area a distinct vibrancy.

The development of the Victoria Infirmary site by Sanctuary Homes and Riverford Road by CCG will build upon the success of the CALA development on Mansionhouse Road and Westpoint’s Park Grove. Prices per square foot are most comfortable around £250 per square foot but the best locations are higher, even exceeding £300 in some spots.

Regeneration development will continue to focus primarily on the areas immediately beyond the city centre. Urban Union will launch the second phase at Laurieston Living imminently, Keepmoat are bringing forward Sighthill and Igloo is proposing development at Dundas Hill.

These schemes will offer homes at the attainable end of the price spectrum, including family homes, delivering a range of tenures. Prices per square foot are in the range of £175 and £195, highlighting the need for policies such as Help to Buy to support development.

The city centre continues to see limited residential development but with Glasgow City Council implementing a residential strategy alongside a number of other potentially transformative policies, there are a number of opportunities in this area.

Meanwhile the family, suburban market continues to perform when products are well designed, are well connected and have good access to schooling.

Figure 3

FIGURE 3 | Property types Glasgow's residential development statistics
Source: kamaco Research

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