Wednesday, October 20, 2021
Real EstateUK

Paisley is Britain’s top property hotspot, study finds

Britain property

The average asking price of a home in Paisley is currently £126,903, which is £16,183 more than a year ago

Paisley is Britain’s top price hotspot, according to a new study from the UK’s biggest property website Rightmove.

The average asking prices in the town have risen by 15% over the past 12 months – higher annual increase than any other location in Britain.

Local agents report that access to nature and green spaces may have contributed to the rising prices as green space have become more important to home-movers since lockdown.

The average asking price of a home in Paisley is currently £126,903, which is £16,183 more than a year ago.

However, asking prices in the Scottish town are £191,677 cheaper than the average across Great Britain of £318,580, and £34,619 cheaper than the Scottish average of £161,522.

Next on the list of asking price hotspots are Lancaster in Lancashire, and Wigan in Greater Manchester, where asking prices rose by 12% compared to a year ago.

Average asking prices at each of the top 10 price hotspots are lower than the national average; however, the most expensive location in the list is Newquay in Cornwall, at £294,381.

Rightmove’s Director of Property Data Tim Bannister said: Demand for property in Paisley is very high at the moment, with searches for homes to buy in the town having risen by 44% compared to this time last year. Naturally, demand leads to rising prices and with swathes of rolling countryside on the doorstep, it makes sense that Paisley is such a popular destination for home-movers looking for more space.

Curtis Chisholm, Director at Cochran Dickie Estate Agency, said: The market as a whole has risen simply because of the lack of supply, but the demand for Paisley can be attributed to the fact that you can get more for your money here than in Glasgow’s West End or South Side, especially with the ease of commuting coupled with quality homes in very desirable addresses.

He said, Paisley is a very historical town with fabulous culture, a thriving arts scene and has Scotland’s highest concentration of listed buildings outside of Edinburgh – so it’s a pretty town too. We also have great access to green spaces and the countryside so all in all it’s a great place to live.

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