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Last Updated:  Tuesday, 8 April, 2003, 15:09 GMT 16:09 UK
Glasgow house prices 'frenzy'
SHH for sale sign
The property boom in Glasgow has reached "frenzied proportions", according to one firm of estate agents.

The average price of a house in the city is now 107,000, Slater Hogg & Howison's Home Report said.

The new hotspots are on the south side, especially Giffnock, Whitecraigs, and Netherlee.

Area director Dawn Warnock said: "The year started with a bang and the momentum has continued.

"We are seeing offers at 30% over the asking price but in some cases, up to 50%.

"Glasgow is getting like London. Despite an increase in the number of properties coming onto the market, it is not enough to satisfy the influx of buyers."

On average seven buyers are chasing each home on sale, the firm's figures for the last six months show.

There is little or no sign of weakness at the moment anywhere in Glasgow
Mark Hordern

The problem is most acute in the 151,000 to 250,000 price range, where 10 buyers are chasing each home.

But with interest rates and unemployment low, first-time buyers are still out in force, according to the estate agent.

The Glasgow Solicitors' Property Centre (GSPC) said homes in the West of Scotland were increasing in value on average by 1,000 a month.

GSPC spokesman Mark Hordern said: "There is little or no sign of weakness at the moment anywhere in Glasgow."

But the Chartered Institute of Housing in Scotland warned there was a crucial need for more homes.

It said housebuilding was at its lowest since the 1970s and yet the demand for homes was predicted to rise by 14% in the next decade.

The average price of a house in Edinburgh is more than 129,000, while in Aberdeen it is about 95,000, according to the cities' solicitors' property centres.

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