Home run for Glasgow's housing market

Feb 13 2013 By Ben Spencer

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GLASGOW'S housing market is looking up as early reports suggest a bumper year.

Sales are up and property values are starting to rise in the city, according to estate agents and surveyors.

The Royal Institution of Chartered Surveyors said sales continued to increase across the country in January.

City firms expect the Glasgow market to pick up after the quiet festive period.

Grant Robertson, of Allied Surveyors, said: The new year has started briskly in Glasgow although activity is markedly higher in the west end against the south side or east end.

We didnt see prices drop as significantly in November and December as in previous years, due mainly to low levels of supply.

Craig Henderson, of Graham & Sibbald, said: We have seen a quieter period in November, December and January. But I expect the market to see increased activity through the spring months, typical of what we have seen in recent years.

There will be an increase in new sellers, but buyers also.

GSPC chief executive Mark Hordern said sales had improved in recent weeks and are significantly higher than a year ago.

He added: Sellers are being more realistic about property values. However, there are more buyers and they are ready to act decisively when the right opportunity comes along.

But new instructions remain low and this is limiting choice for buyers.

Slater Hogg & Howison managing director Michael Luck said prices had strengthened in the last two or three weeks.

He said: Its a very good time to be looking, but people are in danger of waiting too long."