Property prices in Scottish hotspots set to rise by almost a quarter – Barclays

Glasgow’s suburbs are predicted to see the largest increase in average house prices in Scotland by 2021, according to new research released today Barclays.

Affluent areas in Glasgow’s outskirts, East Renfrewshire and East Dunbartonshire, are set to rise by almost a quarter (23.8 per cent / 22.5 per cent respectively) over the next five years.

Hot on its heels is City of Edinburgh (20.2 per cent) and Scotland’s central belt hotspot, Stirling (19.1 per cent), according to the bank’s latest UK Property Predictor.

Over the next five years, high employment rates, growth in private housing market levels and an increase in rates of average earnings will contribute to rising property prices across Scotland. The country is expected to see an overall average increase of almost 6 per cent across the next five years, making it the fifth highest performing region across the UK, behind London (11.88 per cent), East of England (9.38 per cent) the South East (8.74 per cent) and the Midlands (6.28 per cent).

Calum Brewster, managing director, Barclays, Wealth & Investments, north region, said: “It’s encouraging to see that property is still viewed as an important part of the investment portfolio in Scotland with high net worth investors typically owning three properties and over a quarter planning to buy property because they believe that it offers long-term investment security.

“There is also increasing confidence among property investors in Scotland, as many are taking a long-term view when it comes to putting money into property. It’s also interesting to see from our research how investment prospects are emerging outside of the established property heartland of London and the South of England into Scotland, with economic growth and employment opportunity fuelling growth in hotspots across the UK.

“We are here to support our clients at various stages of their investment journey and we can help by offering a range of innovative and personalised mortgage solutions to meet their individual needs, whether they are a seasoned investor or a millennial looking to increase their income.”