Paisley named Britain’s property hotspot as house prices surge in past year


PAISLEY has been identified as Britain’s top property hotspot with asking prices surging by 15 per cent over the past year.

Lancaster and Wigan in northern England rounded off the top three places in the list, compiled by Rightmove.

Paisley is the UK's property hotspot following a surge in house prices

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Paisley is the UK’s property hotspot following a surge in house pricesCredit: Alamy

London was excluded from the main research. The strongest asking price growth in London was in West Norwood, where asking prices increased by 12 per cent annually – a slower rate than in Paisley but matching the growth also recorded in Lancaster and Wigan.

Rightmove said local estate agents in Paisley that access to nature and green spaces may have contributed to the rising prices.

Both of these attributes are said to have become more important to some home movers during coronavirus lockdowns.



Curtis Chisholm, director at Cochran Dickie estate agency, said: “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.

“Paisley is a very historical town with fabulous culture.”

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

Britain’s property hotspots

  • 1. Paisley, Renfrewshire, £126,903, 15%
  • =2. Lancaster, Lancashire, £197,790, 12%
  • =2. Wigan, Greater Manchester, £175,202, 12%
  • =4. Bishop Auckland, County Durham, £135,736, 11%
  • =4. Keighley, West Yorkshire, £195,175, 11%
  • =4. Pudsey, West Yorkshire, £225,530, 11%
  • =4. Newquay, Cornwall, £294,381, 11%
  • =4. Neath, South Glamorgan, £160,541, 11%
  • =9. Wallasey, Merseyside, £174,003, 10%
  • =9. Liverpool, Merseyside, £175,300, 10%

However, average asking prices in the town are £191,677 cheaper than the average across Britain, at £318,580. They are also £34,619 cheaper than the average across Scotland of £161,522.

All of the top 10 price hotspots outside London have average asking prices that are cheaper than the average across Britain.

The most expensive location on the list is Newquay in Cornwall, with average asking prices at £294,381.

 

Within London, Chelsea (11 per cent annual increase) and Purley (9 per cent annual increase) came in second and third place respectively, after West Norwood.

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 per cent 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.



Read MorePaisley named Britain’s property hotspot as house prices surge in past year

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