r/Glasgow Tools

Title
Author	Haircutx1
Comment	It’s a myriad of factors: You’ve got cash rich Americans, Canadians, Australians, English etc selling up in their home countries and coming over with hundreds of thousands in cash. I know two English people with over £100k each and a Canadian with £200k and they’re blowing the locals out the water so to speak when it comes to offers. These aren’t super wealthy people either - just their housing market is hotter than ours. Then you’ve got your Scottish developers and BTL landlords. This includes Scottish parents buying a flat for their kid as an investment and to live in whilst at Uni. Factor in to the Scottish AirBnB crowd. Then you’ve your Chinese and Pakistani BTL landlords. Some of them haven’t even stepped foot in the country. Check the landlord registry to see how many landlords in your area aren’t even in the UK. The Hong Kongese - 300,000 will take up the Visa scheme. A lot of them are already here buying properties. Check subreddits about UK investing and they’re asking how to buy second and third properties too. Social housing - a large percentage of new builds is allocated to the social. So a lot of properties being built not even entering the housing market proper (before anyone chips in my Dad lived in social housing growing up). Refugees - Glasgow has the second highest population of refugees in the UK now. Where do you think they are getting housed? Again, houses taken off the market causes shortages and drives up prices for everyone else. My issue here is that Glasgow seems blind to the high percentage of chancers who are just economic migrants and not refugees - but hey, Glasgow’s been vocal on it (everyone’s welcome/end boarders etc) and well a land without boarders is always going to be overpopulated which results in a premium on housing. And Scotland is still pushing for unlimited EU citizens to move over and guess what? Buy or rent houses and drive up house prices even further. I’m not knocking this as my family have migrated from various EU counties (Ireland, Italy, Sweden, France etc) but at least acknowledge the affect it has on house prices. I feel people seem to not want to accept the hard facts that greater migration results in higher house prices? Factor in super cheap lending and near unlimited first time buyer schemes and here we are. I’ll get downvoted as people will think I’m against refugees or EU freedom of movement etc and that’s
Reddit Link	https://www.reddit.com/r/glasgow/comments/ns0zcb/why_are_house_prices_going_nuts_in_glasgow/h0jumwr/
Created	Fri 4th Jun 2021 11:28am
Status	normal ()

It’s a myriad of factors:

You’ve got cash rich Americans, Canadians, Australians, English etc selling up in their home countries and coming over with hundreds of thousands in cash. I know two English people with over £100k each and a Canadian with £200k and they’re blowing the locals out the water so to speak when it comes to offers. These aren’t super wealthy people either - just their housing market is hotter than ours.

Then you’ve got your Scottish developers and BTL landlords. This includes Scottish parents buying a flat for their kid as an investment and to live in whilst at Uni. Factor in to the Scottish AirBnB crowd.

Then you’ve your Chinese and Pakistani BTL landlords. Some of them haven’t even stepped foot in the country. Check the landlord registry to see how many landlords in your area aren’t even in the UK.

The Hong Kongese - 300,000 will take up the Visa scheme. A lot of them are already here buying properties. Check subreddits about UK investing and they’re asking how to buy second and third properties too.

Social housing - a large percentage of new builds is allocated to the social. So a lot of properties being built not even entering the housing market proper (before anyone chips in my Dad lived in social housing growing up).

Refugees - Glasgow has the second highest population of refugees in the UK now. Where do you think they are getting housed? Again, houses taken off the market causes shortages and drives up prices for everyone else. My issue here is that Glasgow seems blind to the high percentage of chancers who are just economic migrants and not refugees - but hey, Glasgow’s been vocal on it (everyone’s welcome/end boarders etc) and well a land without boarders is always going to be overpopulated which results in a premium on housing.

And Scotland is still pushing for unlimited EU citizens to move over and guess what? Buy or rent houses and drive up house prices even further. I’m not knocking this as my family have migrated from various EU counties (Ireland, Italy, Sweden, France etc) but at least acknowledge the affect it has on house prices. I feel people seem to not want to accept the hard facts that greater migration results in higher house prices?

Factor in super cheap lending and near unlimited first time buyer schemes and here we are.

I’ll get downvoted as people will think I’m against refugees or EU freedom of movement etc and that’s