The soaring prices – and ambitions – of Glasgow
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