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Glaswegian

5/10 Year Old New Builds In Gorbals And Shawlands

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I've been having a look online at the properties in the relatively new development (circa 10 years old) Gorbals and similar flats in Pollockshields (not Shawlands!) and there seems to be a glut of 2 bedroom flats at around 120k that have been on the market for over a year. These all seem quite optimistically priced with the people who initially bought them first time buyers etc. Home owners/EAs and Surveyors all must be giving market values based on conditions before the crash. My question – how much must these 120k flats be reduced to in order to stimulate interest in the market?

Thanks

Edited by Glaswegian

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I dont know the flats of which u speak

been away from Glasgow for many years now

but I do know the Sth side pretty well

70-80k would still seem expensive to me

auction prices for 50's era (western heritable)

aint much more than £50k and they come with a garden

2 bedrooms and sometimes a garage

In general Scotland has a long long way to fall

they were last onto the ladder and are still in the denial stage

I saw HP's triple in under 5 yrs in some places

what goes up ................

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Don't know the area. However I do know that apart for the nicer parts of Edinburgh, Glasgow or Aberdeen - 2 bed flats should not cost more than 100k.

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I've been having a look online at the properties in the relatively new development (circa 10 years old) Gorbals and similar flats in Pollockshields (not Shawlands!) and there seems to be a glut of 2 bedroom flats at around 120k that have been on the market for over a year. These all seem quite optimistically priced with the people who initially bought them first time buyers etc. Home owners/EAs and Surveyors all must be giving market values based on conditions before the crash. My question – how much must these 120k flats be reduced to in order to stimulate interest in the market?

Thanks

Property in Glasgow used to be so cheap compared to the South East it attracted investors from all over the country. It rose later ion the property cycle. Only the dead central zone has been capable of sustaining the kind of values you report until very recently, which is why I suggest they must very overpriced and likely to fall quite hard. My guess is 40% lower within 2 years to about £72-75k.

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Hello!

I know the area quite well. I personally wouldn't want to touch those at all. Nope no chance no no no

The problem with putting up a new build development in a questionable area is one of the original people not having changed. Regardless of any regeneration the people really don't care and by and large are on benefits

So in essesnce this development was put up amongst the council flat stock. Along with that comes the junkies, methadone addicted and workless.

So on one hand you have the relatively nice set of flats, but then outside you have a methadone clinic, a somerfield a greggs and about 20 odd junkies and drunks standing outside your house.

I know of a few people who can't even keep a nice car in there as they last about 2 days before getting broken into

Slum of the future, along with Glasgow harbour, lancefield quay etc.

I think they will have to fall a long long way before they become good buys.

Stu

Edited by Stu.

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I've been having a look online at the properties in the relatively new development (circa 10 years old) Gorbals and similar flats in Pollockshields (not Shawlands!) and there seems to be a glut of 2 bedroom flats at around 120k that have been on the market for over a year. These all seem quite optimistically priced with the people who initially bought them first time buyers etc. Home owners/EAs and Surveyors all must be giving market values based on conditions before the crash. My question – how much must these 120k flats be reduced to in order to stimulate interest in the market?

Thanks

Used to live in an old tenement flat close to where they've built all the new flats in Pollokshields and went to have a look at one of the new developments 'Dystopia' in Barrland Street out of curiosity around 2008 when they were being built. They're tiny inside, an open plan kitchen in a living room that was so small they'd installed a hanging chair in the showflat to try to give the impression of more floor space. Absolutely no cupboards or storage space so everyone ends up putting their junk out on the balcony but of course there is the ensuite bathroom ( in a 2 bed flat ). At the time it was all designed to look aspirational but in reality I think these places are set to be the slums of the future. I'd advise you steer well clear of them. The areas aren't great either. I think there's been a steady decline in East Pollokshields for the past ten years at least. Partly due to the proliferation of fast food shops and accompanying litter that's happened despite campaigns by local residents.

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Don't know the area. However I do know that apart for the nicer parts of Edinburgh, Glasgow or Aberdeen - 2 bed flats should not cost more than 100k.

In some of the nicer parts of Lanarkshire you can get a nice 2 bed sandstone tenement flat for less than £100k. These prices are still dropping....

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Used to live in an old tenement flat close to where they've built all the new flats in Pollokshields and went to have a look at one of the new developments 'Dystopia' in Barrland Street out of curiosity around 2008 when they were being built. They're tiny inside, an open plan kitchen in a living room that was so small they'd installed a hanging chair in the showflat to try to give the impression of more floor space. Absolutely no cupboards or storage space so everyone ends up putting their junk out on the balcony but of course there is the ensuite bathroom ( in a 2 bed flat ). At the time it was all designed to look aspirational but in reality I think these places are set to be the slums of the future. I'd advise you steer well clear of them. The areas aren't great either. I think there's been a steady decline in East Pollokshields for the past ten years at least. Partly due to the proliferation of fast food shops and accompanying litter that's happened despite campaigns by local residents.

Wouldn't touch with ANYTHING.

Kingston Quay was the trailblazer, Utopia is just more jerry built rubbish at exhorbitant prices. I warn anyone who will listen to stay well clear of all inner city newbuilds in Glasgow. BTL and housing associations are the only people going near them as far as I can see.

It's the aspirational con that really gets me. People actually bought small, cheap, nasty flats in godawful areas just tbecause they were told it was the future. And paid a fortune for the privilege. If anyone cares to disagree point them in the direction of Manchester.

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  • 144 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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