In the last year, property prices have soared well above the Scottish average of a 20% increase in Glasgow - with one area of the city more than tripling in just one year.
Property prices soared by 20% or more in dozens of Scottish neighbourhoods last year, official figures show - while Glasgow was seeing increases in the top 10 areas with the fastest growing house prices ranging from 215% to 26.2%.
There were 173 pockets of the country (22 of which are in Glasgow) where the average sold price was 20% higher in 2022 than in 2021, including 59 areas (eight of which are in Glasgow) which saw prices rise by 30% or more.
The Scottish government figures reveal the average sale prices each year in more than 1,000 small areas. These neighbourhoods, officially known as ‘intermediate zones’, each contain between 2,500 and 6,000 households.
Easterhouse East was the fastest growing neighbourhood in both Scotland and Glasgow - 54 homes were sold in 2021, with an average price of £68,250. In 2022, 93 homes were sold with an average price of £214,995. That’s an increase of 215.0% - more than triple the average property price of Easterhouse in just a year.
What readers may find surprising about this top 20 list, is that for the most part, most of the fastest growing property prices have been in deprived areas in the East End.
Soaring house prices are usually an indicator of an up-and-coming area - which tracks with the amount of new-build housing being built in the city and ‘regeneration’ work taking place in the East End of the city by Glasgow City Council.
Across Scotland, about three-quarters of areas (74%) saw average house prices rise between 2021 and 2022, while one-quarter saw prices fall and the rest saw them stay the same.
Here we reveal the neighbourhoods of Glasgow which saw average property prices rise the most from 2021 to 2022, based on median sold prices. Our analysis excludes areas with fewer than 10 house sales.
The figures do not adjust for the different types of housing sold in different areas and averages can be affected by, for instance, new housing developments going on sale in an area that year.
9. Scotstoun North and East
Scotstoun North and East is the ninth fastest growing area in Glasgow for property prices and 73rd in Scotland. 70 homes were sold in the area in 2021 for an average price of £245,000, while 49 homes sold for an average price of £315,000 in 2022. That’s an increase of 28.6%. | Rettie
10. Scotstoun North and East
Cardonald North is the tenth fastest growing neighbourhood in Glasgow for property prices and 88th in Scotland. 42 homes were sold in 2021 for an average price of £100,250 - while 42 homes were sold in 2022 for an average price of £126,500. That’s an increase of 26.2%. | Contributed
11. Calton and Gallowgate
Calton and Gallowgate is the 11th fastest growing neighbourhood in Glasgow and 112th in Scotland.. 118 homes were sold in 2021 for an average price of £147,000 - while 131 homes were sold in 2022 for an average price of £182,600. That’s an increase of 24.2% 112 11 | Contributed
12. Darnley West
Darnley West is the 12th fastest growing neighbourhood in Glasgow in terms of property prices and 126th in Scotland. 104 sold in Darnley West during 2021 for an average price of £172,500 - while 87 homes were sold for a median price £212,500 in 2022. That’s an increase of 23.2%. | Contributed