• About us
  • Lettings
    • Landlord Services
    • Help for Tenants
    • Properties for Rent
    • Property Investment
    • Report a Repair
  • Sales
    • Sales Services
    • Properties for Sale
  • Blog
  • Contact Us
Menu
  • About us
  • Lettings
    • Landlord Services
    • Help for Tenants
    • Properties for Rent
    • Property Investment
    • Report a Repair
  • Sales
    • Sales Services
    • Properties for Sale
  • Blog
  • Contact Us
request valuation
ARRANGE VALUATION

Glasgow West End Property Market: 2023 Outlook

  • January 23, 2023

There will certainly be challenges ahead for the Glasgow West End property market in 2023; the effects of which I believe won’t be experienced until later in the year. The best we can hope for is that the market remains steady, but recently it has been built on a lack of supply, low interest rates and demand for additional space; factors which have now changed. With this in mind, I anticipate that the market will slow. 

I predict that in 2023 we will see a softening of prices throughout the West End, however, by only a small margin. Low stock levels of property combined with buyer demand will maintain buyer competition throughout the year. While the general predictions are for a decrease in property prices throughout 2023, I suspect that this will be prominent at the lower end of the market, rather than the mid to upper end.

For some time, it was normal to receive offers in the range of 25 -30% over Home Report valuation. I predict that the new norm will be a lesser 10-15%. This isn’t a reflection on the market values decreasing however, and is instead due to an increase in Home Report valuations over the past few months, to reflect the most recent sales prices.  

I anticipate that I will see the strongest sales within Quarter 1 and Quarter 2 of 2023, which leads me on to the question I’m often asked by my clients – “Should I sell now, or wait?”. It’s my recommendation that if you’re looking to get the very highest price for your property, selling sooner rather than later will achieve this. 

Registered buyers for November and December always provide me with a reliable indication of how the first quarter of the year will turn out, and based on this alone, Quarter 1 of 2023 is looking very promising indeed. Over the last 45 days, we’ve registered more buyers across all price points than ever before. These buyers have explained to me personally that their proactiveness stems from two factors. Firstly, the window closing on the agreed rates for their mortgages that they have locked-in, therefore causing them to work to a deadline. Secondly, they have very specific requirements of what they’re looking for in their next property, which they wish to secure by working closely with a local and dependable Estate Agent, who also has access to properties not advertised on the open market. 

To conclude, there are a number of people and news outlets painting the property market picture in a negative light. While there may be some challenges ahead, it’s important to bear in mind that the West End of Glasgow is a micro climate which is much more resilient to outside economic factors than other parts of the city. 

As the market becomes more buyer-friendly, the key to securing the very highest sale price is exactly the same as it has always been, and it all comes down to finding the right buyer. I use a specific process to ensure my clients secure the right buyer for their home at the highest price; a process which has helped me to achieve some great results over the last few years, and on some occasions, a record price for the street.

I’m proud to say that over the years I’ve become a leading and highly (Google) rated Estate Agent within Glasgow’s West End, and I get to know the majority of my clients through word-of-mouth referrals. This is a result of working diligently to secure my sellers the highest possible price, and find my buyers their dream home, all while providing a personalised and single point of contact service. 

If you’d like to discuss the future market in more detail, or for an up-to-date valuation on your home, please do get in touch. 

Ross Yates

Contact Details

Property Details

Loading

PrevPreviousEPC Requirements in Scotland

Yates Hellier is one of Glasgow’s leading letting agents and estate agents. Our hands on service provides exceptional value to our clients. 

We provide a premium service to discerning landlords and sellers who appreciate a quality service with unrivalled attention to detail.

2 Woodside Place
Glasgow
G3 7QF

  • 0141 248 8726
  • [email protected]
Facebook Instagram Linkedin Youtube

© 2023 Yates Hellier
Letting Agent Registration Number: LARN1812011

  • T&Cs
  • Privacy & Cookie Policy

Yates Hellier: Glasgow Letting agents & estate agents

Client money protection Certificate

We are using cookies to give you the best experience on our website.

You can find out more about which cookies we are using or switch them off in settings.

Powered by  GDPR Cookie Compliance
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

This website also uses Google Analytics to collect anonymous information such as the number of visitors to the site, and the most popular pages.

By continuing to use this website, you agree to their use.

Strictly Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.

3rd Party Cookies

This website uses Google Analytics to collect anonymous information such as the number of visitors to the site, and the most popular pages.

Keeping this cookie enabled helps us to improve our website.

Please enable Strictly Necessary Cookies first so that we can save your preferences!

Cookie Policy

How do we use cookies?

• We use cookies to track your use of our website. This enables us to understand how you use the site and track any patterns with regards how you are using our website. This helps us to develop and improve our website as well as products and / or services in response to what you might need or want.

• Cookies are either:

– Session cookies: these are only stored on your computer during your web session and are automatically deleted when you close your browser – they usually store an anonymous session ID allowing you to browse a website without having to log in to each page but they do not collect any personal data from your computer; or

– Persistent cookies: a persistent cookie is stored as a file on your computer and it remains there when you close your web browser. The cookie can be read by the website that created it when you visit that website again. [We use persistent cookies for Google Analytics.]

• Cookies can also be categorised as follows:

– Strictly necessary cookies: These cookies are essential to enable you to use the website effectively, such as when buying a product and / or service, and therefore cannot be turned off. Without these cookies, the services available to you on our website cannot be provided. These cookies do not gather information about you that could be used for marketing or remembering where you have been on the internet.

– Performance cookies: These cookies enable us to monitor and improve the performance of our website. For example, they allow us to count visits, identify traffic sources and see which parts of the site are most popular.

– Functionality cookies: These cookies allow our website to remember choices you make and provide enhanced features. For instance, we may be able to provide you with news or updates relevant to the services you use.

More information about our Cookie & Privacy Policy