Glasgow property prices?

[weegiemum]

Hi, my dd1 and her partner are planning on buying together, they have 10% deposit saved plus some help from us. Budget is about £130k

Just wondered how much over asking that flats are going for right now. They want 2 bedrooms as dd1 is a recent art graduate and wants studio space.

I think it depends on area and how much work the property needs. I’ve heard of people paying close to asking and others 10%. Things do seem to be taking a little longer to sell. But it’s very property and area dependent.

What area is she looking in? I have a 2 bedroom flat in Glasgow (G5) that is going to be on the market the week after next. It has two bedrooms, a balcony and a large cupboard big enough to use as a work space with desk and also store bikes. Expecting HR value to be around £110k.

My impression is that 1st time buyer flats (one and two bedroom flats) in Glasgow are still selling above Home Report value - probably because the rental market is so tight (and expensive ).

Ds had an offer accepted on a 2 bed ex-council flat (1960s build, decent sized rooms and good storage) on 29 July last year and moved in on 14 September.

Home Report value was £110k, it was on for offers over £100k and he got it for £116k. He'd lost out on a couple in the same area (just south of Shawlands) and was keen to get it, so was prepared to offer £126k. We advised him that as it hadn't yet gone to closing, he had nothing to lose by offering less - and he got it!

Other flats in that area still appear to be selling fast, judging by the speed at which "For Sale" signs change to "Sold Subject to Concluded Missives"