Market update from our Glasgow and Argyll branches – May 2025
We look at what is happening in the property market locally and nationally with updates from our branches in Shawlands, Cardonald and Dunoon.
April 2025
Before we look at this month, we can look back on the stats for April. As you can see from the above snapshot of our figures, we agreed 48 new sales for our homeowners (compared to 31 in March 2025) and brought 42 new client’s properties to the market (43 March 2025).
In total, we visited 74 homes to carry out market appraisals and valuations for homeowners during April.
Buyer activity remained strong during the month with 550 new buyers (649 March 2025) registering for our ‘Heads Up’ Property Alerts and 517 viewings (576 March 2025) carried out.
Tenant demand continued to fall as 160 new tenants registered with us in April (243 March 2025 and 433 February 2025).
May 2025
Liz Dineley from the Dunoon branch reported “Property sales in our Argyll office have been very varied in May ranging from a one bedroom flat at offers over £70,000 to a 7 bedroom house with annexe at offers over £500,000 - both vendors accepting offers over the home report value.
Whatever type of property you are thinking of selling, give us a call or drop in to the Dunoon office for a chat.
May has been our busiest month for property valuations so far this year and we are looking forward to bringing to the market a diverse list of properties in June.”
Property of the month from our Dunoon branch is Siobhala, Hunter Street – a 5 bedroom detached home at offers over £390,000.
Craig Smith from the Shawlands branch in Glasgow reported “The south side of Glasgow continues to be a very buoyant market for sellers, and an extremely competitive and tough market for buyers.
3 bedroom family homes are in particularly high demand. We have just sold 3 in the past fortnight that attracted 151 viewings between them.
In contrast, the rental market demand continued to drop in May with now definite indications that rental values have levelled off.”
Properties of the month from our Glasgow branches in Cardonald and Shawlands are Moulin Road, Cardonald – a 3 bedroom/5 apartment semi detached villa at offers over £260,000
and Craig Road, Muirend – a stylish 1 bed starter flat or buy to let investment at offers over £95,000.
Rightmove House Price Index
We take a look at what is happening nationally with the Rightmove House Price Index for May 2025. Here are the keys takeaways and headlines from the report:-
- New seller asking prices rise by 0.6% (+£2,335) this month to a new record of £379,517. However, this month’s seasonal price increase is the lowest at this time of year since 2016, as the decade-high number of homes for sale limits price growth
- The traditionally strong late Spring market is more subdued following a busy first quarter of the year. Along with the smaller-than-usual price increase, there has been a dip in new buyer demand following April’s stamp duty increase (England only)
- After a busier than usual March, new buyer demand slowed in April to 4% below the same month in 2024. However, demand in the year to date is still 3% ahead of last year, and there are early signs of a bounce-back in May
- Despite April’s lull in new buyer demand the number of sales being agreed in the last month is 5% higher than at this time last year, indicating that spoiled-for-choice buyers are still being tempted by the right property at the right price
- The number of new properties coming onto the market for sale is now 14% ahead of this time last year
- As new seller activity outpaces new buyer demand, some caution on price expectations is needed to achieve a sale
- The latest Bank Rate cut could provide a boost to buyer affordability and activity later in the year. Rightmove’s weekly mortgage tracker shows that the lowest available two-year fixed mortgage rate is now 3.72%, down from 4.75% last year
- In Scotland, average new seller asking prices increased by 0.5% this month to £201,500. Year on year asking prices are currently 2.5% higher than May 2024. Average time to find a buyer is 31 days.
As always, if you have any questions relating to the property market or would like to discuss the current valuation of your home, please feel free to get in touch with your local Scottish Property Centre branch.
Looking to move in 2025? Get ahead and register for our ‘Heads Up Property Alerts’
Scottish Property Centre have branches in Dunoon, Cardonald and Shawlands covering the Argyll and Glasgow property markets. We have local experts serving local people.
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