Land & New Homes

Market Comment

A quieter July suggests the market decided the heatwave was an excuse to find other things to do, it was preceded by a very busy June with New Home sales hitting their highest rate for 18 months. Confidence has definitely returned to the extent that the recent quarter percent rise in interest rates will not put off buyers already committed to making a move in the Summer/Autumn of 2006.

There are some fantastic deals available to buyers right across the central belt. Glasgow City Centre has been very busy with Glasgow Harbour leading the way in apartment sales and interest levels. Glasgow Harbour has matured in to the most significant residential development in the City. If you haven’t been down, it is well worth a visit to see exactly why £100M worth of flats have sold in the last six months. Buyers rushed to take advantage of quayside living in the West End’s waterfront. With 1100 sq.ft apartments available from £225,000 including parking and a balcony, you can see why buyers are committing to living there. Tenements in Hyndland achieving £250,000 plus for 2 bedrooms, the Harbour is a luxurious, modern alternative giving the very best in Glasgow waterfront living. HotHouse in Glasgow was also a star performer with 50% sold in the first two and a half months. HotHouse is in a new emerging neighbourhood soon to benefit from the opening of the latest road bridge over the Clyde wwhich will connect the Media Village, Pacific Quay and the new BBC SMG Headquarters with the West End and North side of the City. Argyle Street’s changing retail and social amenities means that a new bar and restaurant are opening almost every week creating an almost London atmosphere of boutique shopping and individual retailers, bar and restaurant owners. Values here remain very affordable with HotHouse offering 2 bedroom 2 bathroom apartments from £175,000. It is terrific value considering you are five minutes from Kelvingrove Park, the City Centre and Byres Road.

Anyone buying in 2006 will look back next year and congratulate themselves on a great decision! 2007 looks like being the year when prices may start to move again and will make some of today’s opportunities look like real bargains.