The soar­ing prices – and am­bi­tions – of Glas­gow

The Daily Telegraph - Property - - Front Page -

player Steven Ger­rard has be­come the man­ager of Rangers FC.

Both es­tate agents and Rangers fans are feel­ing perkier. Of­fi­cial fig­ures show that the av­er­age prop­erty price in Glas­gow in 2018 is £155,383 – the high­est for 10 years. The prime end of the mar­ket is mov­ing, too: Sav­ills re­ports an un­der­sup­ply of larger houses above £650,000; a listed six-bed­room Ed­war­dian town­house on one of the West End’s most sought-af­ter streets re­cently sold for £850,000 within just three weeks.

“There is po­ten­tial for growth in Glas­gow due to the value gap in com­par­i­son with Ed­in­burgh, where av­er­age values in our prime prop­erty in­dex stand at £900,000, com­pared with Glas­gow’s £670,000,” says Faisal Choudhry, Sav­ills’ head of re­search in Scot­land.

“While po­ten­tial buy­ers from out­side Scot­land have al­ways looked at Ed­in­burgh first, they are be­gin­ning to no­tice that you can get more for your money in Glas­gow.”

In July, elec­tric ScotRail trains started run­ning be­tween Ed­in­burgh and Glas­gow, re­duc­ing the jour­ney time to 42 min­utes. But the ide­o­log­i­cal dis­tance be­tween the two re­mains large: in the in­de­pen­dence ref­er­en­dum Glas­gow voted to leave the UK, while Ed­in­burgh opted to stay in the union.

When it comes to in­no­va­tion, Glas­gow has been pulling away, sug­gests An­drew Mickel, di­rec­tor of SWG3, a multi-dis­ci­pline arts and events com- plex in a for­mer gal­vanis­ers’ yard in the West End’s East­vale Place.

The bonded ware­house next to the Clyde at­tracts 144,000 vis­i­tors a year to its events. “It’s re­ally ex­cit­ing what is hap­pen­ing in Glas­gow right now,” he says. “We are of­fer­ing the same sort of buzz and cre­ativ­ity as Lon­don’s Hack­ney, Shored­itch and Brix­ton, but in a less cor­po­rate way.

“More artists are mov­ing here be­cause it’s so much more af­ford­able

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