| Comment | It is happening everywhere in the UK, not only in Glasgow.
I don't think lockdown savings are so high, most people may be able to save a few grands maybe 10k. It is just a shift in lifestyles.
There is a lot of people with huge equity in their properties looking to move to bigger flat/house. Very low interest rates help too. Young people with rich parents, crypto / stock gains, etc. There is a lot of factors.
This is also happening in other countries. In Poland (my home country), land prices near big cities or in small, holiday towns went up 100% in last year. House up 30-40%.
When you look at number of transactions in e.g G12, there is no significantly less transaction currently than in last 2-3 years so supply stayed similar while demand grew considerably.
https://www.rightmove.co.uk/house-prices-in-my-area/marketTrendsTotalPropertiesSoldAndAveragePrice.html?searchLocation=G12&sellersPriceGuide=Start+Search |
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