Jump to content
House Price Crash Forum
Sign in to follow this  
The Masked Tulip

Tale Of Two Scottish Cities – Glasgow Has Too Many Properties For Sale, Dundee Too Few

Recommended Posts

The thread title relates to Scotland but the below report looks at the whole of the UK - in particular there is an interesting chart looking at the percentage of houses for sale in certain towns as a percentage of their population.

Worth 2 minutes for any HPCer.

Edit:

Oops - the tables did not format at all below. The 3 figures are basically for town/city, population for that town/city and then the percentage of houses.




TALE OF TWO SCOTTISH CITIES – GLASGOW HAS TOO MANY PROPERTIES FOR SALE, DUNDEE TOO FEW

· Less than 500 properties currently for sale in Dundee and Aberdeen combined

· Lack of property supply in South East and Midlands

· North West struggling with an oversupply of properties on the market

Scotland is a tale of two cities when it comes to property supply. Dundee and Glasgow may only be 80 miles apart in distance, but where the local housing markets are concerned they are worlds apart. While the housing market in Dundee is suffering from a lack of properties currently being marketed, Glasgow has an oversupply of properties for sale, according to research carried out by online estate agents Housesimple.co.uk.

With estate agents reporting an increase in new properties coming onto the market, Housesimple.co.uk looked at the number of properties currently for sale in 50 of the major towns and cities in the UK. Towns and cities were ranked by the proportion of properties currently for sale in each town/city as a percentage of the population.

The results revealed a huge discrepancy between those towns and cities at the top and bottom of the property supply list. According to the figures, Dundee and Glasgow are at the bottom and top of the list when it comes to property supply. Dundee, a city with a population of 147,000, currently only has 165 properties for sale. That’s just 0.11% of properties for sale as a percentage of the population.

It is the same situation in Aberdeen, where the number of properties currently for sale as a proportion of the population is just 0.17%. This compares to Glasgow, which appears to have an oversupply of properties for sale. With 7,516 properties currently on the market, that’s 1.27% as a proportion of the population of the city. It’s the same picture in Nottingham, a city of almost 300,000 people, and where 3,599 properties are currently for sale. That’s 1.24% of properties for sale as a proportion of the population.

Looking at regions of the country, there appears to be a lack of properties for sale in the South East and West Midlands and an oversupply of properties in the North West.

Three towns/cities in the West Midlands and three in the South East that feature in the top 10 list of locations with the lowest number of properties for sale as a percentage of the population. And three towns/cities in the North West appear in the list of top 10 locations that have the highest number of properties for sales as a percentage of the population.

The following table shows UK towns/cities with the lowest number of properties currently for sale as a proportion of the population of that town/city:

Town/City

Region

Population

Number of properties currently for sale

Current properties for sale as % of population

Dundee

Scotland

147,000

165

0.11

Aberdeen

Scotland

195,021

331

0.17

Cambridge

East of England

145,818

299

0.21

Watford

South East

131,982

342

0.26

Stoke

West Midlands

270,726

814

0.30

Southend

South East

175,547

568

0.32

Slough

South East

155,298

503

0.32

Telford

West Midlands

142,723

468

0.33

Coventry

West Midlands

325,949

1,194

0.37

Luton

South East

211,228

805

0.38

Wolverhampton

West Midlands

265,178

1019

0.38

Portsmouth

South Coast

238,137

917

0.39

Reading

South East

218,705

907

0.41

Sheffield

Yorkshire & the Humber

518,090

2,164

0.42

Brighton

South Coast

229,700

967

0.42

The following table shows UK towns/cities with the highest number of properties currently for sale as a proportion of the population of that town/city:

Town/City

Region

Population

Number of properties currently for sale

Current properties for sale as % of population

Glasgow

Scotland

590,507

7,516

1.27

Nottingham

East Midlands

289,301

3,599

1.24

Peterborough

East of England

161,707

1,908

1.18

Bolton

North West

194,189

1,819

0.94

Manchester

North West

510,746

4,624

0.91

Liverpool

North West

552,267

4,976

0.90

Newcastle

North East

268,064

2,414

0.90

Bournemouth

South Coast

187,503

1,632

0.87

Swansea

Wales

179,485

1,561

0.87

Poole

South Coast

154,718

1,331

0.86

Norwich

East of England

186,682

1,544

0.83

Warrington

North West

165,456

1,309

0.79

Southampton

South Coast

253,651

1,866

0.74

Plymouth

South West

234,982

1,672

0.71

Gloucester

South West

136,262

970

0.71

Alex Gosling, managing director of online estate agents Housesimple.co.uk, comments:

“Our data reveals just how uneven the supply of properties is across the country. And nowhere is this inconsistency starker than in Scotland where two cities, less than an hour and a half apart, have such vastly different property landscapes.

“It is inevitable that uncertainty over the result of the Scottish referendum had a significant impact on property supply. Now we have a definitive result, there should be greater certainty and confidence in the local property market. This should feed through to more properties coming onto the market in the coming months.

“Although there are many areas facing a chronic shortage of housing stock, the data also reveals a healthy level of properties available in major cities other than London, such as Manchester, Nottingham and Liverpool.

“Rapidly growing into key business hubs outside of the capital, prospective buyers have an opportunity to capitalise on this reserve of homes and make homeownership a reality, as these cities offer great amenities, good quality properties and bright employment prospects.”

Edited by The Masked Tulip

Share this post


Link to post
Share on other sites

I was in glasgow recently, drove past a sign for a new buld estate saying something like "3 bed houses for sale from £186K ( HTB Scotland available )".

Average wage in Scotland:

http://www.scottish.parliament.uk/ResearchBriefingsAndFactsheets/S4/SB_14-01.pdf

Public £29,439 2.1 -0.3
Private £24,603 2.5 0.1
( This is a shocking disparity between public and private )
I'd imagine locally where the new estate was the average was much lower.

So, those 3 bed houses are 8 times average earnings, at least.

Something is going to give soon.

Share this post


Link to post
Share on other sites

I suspect there are a few statistical inaccuracies in there. The data shows Sheffield (518k) as being bigger than Manchester (510k).

Population data is very variable depending on boundaries. It looks like they are using the strict unitary authority city boundaries for the population data.

Are they also using the same areas for the available housing stock. Greater Glasgow (Strathclyde?) and Greater Manchester are both well over 2 million, so that could be a reason those cities are topping the list.

Share this post


Link to post
Share on other sites

A quick check on TSPC.co.uk shows that there are 500+ properties for sale in Dundee at the moment - this is Dundee city and not any of the surrounding areas (e.g. Broughty Ferry).

So this report was written by somone who was casually glimpsing through rightmove or something like that.

Aberdeen has in the city alone 954 houses for sale right now on https://www.aspc.co.uk/

their report gives a number of houses for sale = 331

If only I was a property expert like Housesimple. :)

Share this post


Link to post
Share on other sites

Build more bloody houses then if you want more to be available for sale.

http://www.rightmove.co.uk/property-for-sale/property-48339173.html

Not bad for 225K

Dundee and surrounding areas have some really cheap* houses and you can get a lot for your money up here.

there are some areas in Scotland which are popular with holiday lets - but Dundee ain't one of them. :) not that the natural beauty is any worse - but some areas are more popular than others - for no good reason.

*relatively.

Share this post


Link to post
Share on other sites

Build more bloody houses then if you want more to be available for sale.

http://www.rightmove.co.uk/property-for-sale/property-48339173.html

Not bad for 225K

Not bad, but right next door to the Whitfield estate (a notorious estate in the past, but much improved over the last couple of decades), the city incinerator (threatened with closure, and consistently missing emission targets I seem to remember), two bloody big wind turbines that generate pressure noise constantly (particularly bad at night if you open the window I'm told) and a golf club-house over the back garden fence. Use street view, have a look at some of the housing South of Berwick Drive....

I've owned a flat in Whitfield for 20 years plus. I can count on the fingers of one hand how many years I've actually lived in it (and still have enough fingers left to give you the local 'welcome' sign!). It's been rented almost constantly since I joined the army decades ago, so it's a good area for some, but I wouldn't choose to live there now.

That 'Ballumbie estate' housing has been overpriced since they were first built.

Edit: Palangot is right, you get a lot more for your money here, but average wage in Dundee is circa £20k. Here's what 3.5x £20k gets you.....

http://www.tspc.co.uk/details.asp?id=109710

Edited by AThirdWay

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   211 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.