Property Auctions in Glasgow, Scotland
In recent years there has been a huge interest in property auctions in Glasgow, Scotland. Glasgow is the largest city in Scotland and the 4th largest city in the UK. Its economy is worth an estimated £44 billion making it the most successful in Scotland.
Glasgow offers a wide variety of properties for sale, from studios and beautiful stone built flats to houses and commercial properties. This is just one of the reasons that property auctions in Glasgow are so well attended.
Above all, Glasgow is an excellent location for anyone interested in property investment and the many benefits of living in Glasgow makes property relatively easy to sell. Of course, this is also the case with property sold by auction in the Glasgow area, as anyone who has attended a property auction in Glasgow will know.
Another reason why Glasgow attracts so many people is its relatively low cost of living compared to other UK cities of a similar size. It makes buying a property in Glasgow appealing and is one of the reasons this city is at the top of the property market in Scotland.
Other Property in Scotland:
- Property auctions in Scotland
- Edinburgh property auctions
- Property auctions in Inverness
- Rural property in Scotland
- Dundee property auctions
- Property auctions in Aberdeen
- Perth property auctions
Property Prices In Glasgow, Scotland
In February 2020 house prices in Scotland had risen by 2.5% on the previous year and were up by 0.3% on the previous month. Terraced houses showed the largest increase and the average property price was £150,524. The price of property in Glasgow had increased by 4% compared to 2019.
The housing market in Glasgow caters for all people so whether you are single, a couple or a family you will be able to find suitable properties for sale. Flats in Glasgow cost an average of £149,846 and the price for terraced houses in greater Glasgow averages £172,366.
It is almost always cheaper to buy at property auctions in Glasgow than to buy a house sold on the open property market. Property prices in Glasgow are highly dependant upon which area you choose to buy, so do your research before bidding on any property sold at auction.
Where To Look For Property Auctions In Glasgow
When searching for suitable property for sale in Glasgow you must take into account location and how much you have to spend. In addition, pay close attention to the property guide price as this is almost never the actual sale price of the property. Listed below are five areas of the city which are popular at Glasgow property auctions.
Property in Shawlands (G41)
Shawlands is located around 2 miles south of the River Clyde and the majority (82%)of the local people lives in flats. A 1-bedroom flat in a block can be purchased for around £54,000. The M77 and M8 motorways are close by and there are buses to Glasgow city centre running 24 hours a day. As well as many tenement flats you can buy two-story terraced cottages and semis and detached homes.
Property in Hillhead (G12)
Hillhead is a more exclusive area of Glasgow and is part of the fashionable West End district. There are many luxury apartments costing upwards of £400,000 but a 2-bedoom flat close to all amenities can be bought for around £185,000. Hillhead is on the Glasgow subway route giving easy access to all parts of the city.
Property For Sale in Clarkston, Glasgow (G44)
Away from the heart of the city, Clarkston is a designated dormitory town with good sporting facilities and a National Trust property, Greenbank Garden. There are good road links to the city and the nearest motorway is the M77. The rail line also runs to Glasgow Central which is 5 miles north of the town. Property prices in Clarkston are more modest with a 2-bedroom apartment costing around £120,000.
Property in Glasgow Southside (G42)
Glasgow Southside is an urban district of Glasgow and has bars, restaurants and a lively cafe scene. It is quite densely populated but is also close to some stunning parks and beautiful buildings. There are regular bus and train services to other parts of the city. Average house prices in Southside are £126,000 making this an attractive prospect for anyone with a lower budget who wants easy access to the city.
Property in Glasgow Harbour (G11)
Glasgow Harbour has undergone a complete regeneration and is now a most sought after area to buy a property. Overlooking the River Clyde, A 1-bedroom flat can be bought for £129,000 although sometimes less at certain property auctions in Glasgow. The Clydeside Expressway links the harbour to the city centre and the Clyde tunnel. In addition to the many flats available you can buy a 2-bedroom end of terrace villa for around £200,000.
What Type Of Bargain Property In Glasgow Is Available?
Glasgow is a large city and has a wide selection of bargain properties are available, from properties which require renovation to repossessed properties.
Due to the industrial heritage of the city you can find units for commercial use as well as warehouses and retail shops. Glasgow has many apartment blocks known as tenements and these flats have large rooms, high ceilings and some boast original period features.
Residential Auction Properties In Glasgow
Glasgow is a large city with a wealth of residential auction properties. In the city centre you can find plenty of 1-bedroom flats some of which are located in older buildings. Guide prices start around £52,000. You can choose from detached villas, terraced homes and purpose-built flats. Glasgow also has lots of open spaces making it an attractive prospect.
Commercial Property Auctions In Glasgow
Due to its industrial past there are many opportunities to buy commercial properties at Glasgow property auctions. A retail property of around 4,000 square feet in Kilmarnock can start from a guide price as little as £129,000. Glasgow also has many bars, cafes and restaurants ready to occupy for new or existing businesses.
Buy-To-Let Property In Glasgow
A starter flat in Glasgow is a good investment if you are interested in investing in buy-to-let properties. You can find flats that are already tenanted or choose an unoccupied property that would make a good holiday rental. Depending upon the location a rental income of £600-£800 per calendar month for a 2-bedroom flat is a realistic value.
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How to Buy at Property Auctions in Glasgow
Even if you are familiar with the city, internet research is no substitute for going in person to visit the location of auction properties in Glasgow and is imperative if you do not know the city well. This can give you a ‘feel’ for the neighbourhood that you cannot get online. It will also open your eyes to see which areas are up and coming and where rejuvenation projects have already started.
This will enable you to pick up a cheap property at auction at a bargain price before prices rise. If the building is run-down, pay particular attention to the buyers home report, which must be supplied by the vendor and is another way that house sales in Scotland differ from the rest of the UK. This report consists of a survey, energy report and a detailed account of the property’s history.
Before bidding at a property auction, you should also ensure that your auction property financing is in order. Once your bid has been successful, you have a relatively short time to have a mortgage application approved, for example.
Property Auctions in Glasgow FAQ
How Can I Find Property Auctions in Glasgow?
Properties put up for auction in Glasgow can be found via local auction houses or online property auctions. These properties are marketed and sold via the websites of both Scottish and London-based auctioneers. There is not much difference between them in terms of procedure and prices. Both allow you to enter your key criteria such as price, location, etc. to narrow down your search. More detailed information about each property can be found in their auction catalogue.
How Much Are Auction Properties in Glasgow?
The average property price in Glasgow is around £200,000, but you might be able to pick up houses sold at auction for 15%-20% cheaper than those sold through solicitors or private sales. Interest from other bidders is the main reason that the auction house’s initial guide price can go higher. For this reason, it is a good idea to monitor the property price in the days leading up to the auction.
Where Is the Best Place to Look for Property Auctions in Glasgow?
Hillhead and the West End, Shawlands, Bearsden, Scotstoun, and Giffnock are some of the most popular areas for property investors. Buying an auction property in one of these parts of Glasgow is more likely to see a return on your property investment over a shorter time period. Property auctions in Glasgow are well attended and often have a high number of bidders, thanks to the popularity of the city.
Types of Property Sales in Glasgow
Because of its manufacturing past, there are plenty of bargain commercial properties for sale in Glasgow if you are on the lookout for warehouses and factories. These could also be converted for residential use, but you should check local authority regulations and the location before committing yourself to such a purchase. A full building survey is also essential to pinpoint any structural issues which could drain your finances.
For those looking for family houses sold at auction in Glasgow, the city has a wide range of properties on offer. These range from modern developments in the ongoing rejuvenation project around Glasgow Harbour to detached homes in the cobbled streets of the city’s West End.
The traditional building material for Glasgow is sandstone so you will find many auction properties constructed of this material, ranging from sandstone villas in Giffnock to former tenement buildings in the East and West End.
For those prepared to commute, villages like Bearsden and Milngavie have larger detached properties put up for auction as well as cottages and barn conversions.
The Best Areas to Buy Property in Glasgow
Glasgow is divided into 5 regions: the city centre, North Glasgow, the Southside, the East and West Ends. The best area to live in Glasgow depends on your personal circumstances and your budget. Generally, south of the River Clyde tends to be less populated while the West End tends to have the most expensive properties for sale.
You will notice that the differences between ‘good’ and ‘bad’ neighbourhoods is not so clear cut in Glasgow. The low-priced area of Govanhill, for example, exists alongside the trendier area of Shawlands which is popular among first-time buyers and young professionals.
They enjoy the fact that it is safe, friendly, relatively cheap and has regular transport links to the city centre. The same is true of the East End with some streets already regenerated while other properties are still quite run-down and are ripe for a full property renovation project for anyone who has the funds.
Useful Glasgow Property Resources:
Council tax in Glasgow from Glasgow City Council
Visit Glasgow – Information about the city of Glasgow from VisitScotland