No sign of slowdown in property boom

According to Glasgow Solicitors Property Centre’s latest house price report, the average selling price in Renfrewshire over the last six months was £140,779 for all properties - up by 3.3 per cent year on year.

And, over the last three months, the average price was £147,233, which represents a 3.5 per cent year-on-year increase.

A further breakdown of the figures shows that, for three-bedroom homes, the average price over the last three months was £181,455, compared with £160,232 from the year before.

This means a 13.2 per cent increase in such properties.

In East Renfrewshire over the last six months, the average selling price for all properties was £215,705, which is up by 12.4 per cent year-on-year.

The GSPC report also suggests the rising costs are not enough to put buyers off, with houses still being snapped up quickly.

The average time taken to sell a property in East Renfrewshire is currently 14 days, compared to 15 days last year.

In Renfrewshire, the average time to sell is 20 days, which is an improvement on last year’s figure of 21 days.

According to the GSPC, the trend of strong growth in average selling prices is also being seen in Glasgow, where the average selling price for a property is now £140,584, compared with £127,039 from April to June last year.

Austin Lafferty, from the GSPC, said a lack of available housing stock is having an impact on average property prices in areas such as East Renfrewshire.

He added: “Generally, property in East Renfrewshire is flying off the shelf, with a median time to sell of 14 days, and this is particularly true of properties that have been properly priced and valued.

“As is the case with Glasgow, there is a still a relative lack of stock, which is contributing to the faster selling times and increase in average selling prices.

“Because of this, there has never been a better time to sell and sellers are likely to sell quickly and for on or above their home report valuation.”