When buying your first home, deciding exactly where you want to live is likely be dependent on how much you can afford to spend.
If a move to Glasgow is on the cards, then Zoopla can help. We've used our data to find the most affordable housing areas in and around the most populous city in Scotland.
We’ve used average house prices and lending patterns to reveal how much a first-time buyer needs to earn and save for a deposit. The map, below, shows you the postcode areas in Glasgow that are the most affordable.
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Most affordable areas for first-time buyers in Glasgow
(Click on map for larger version)
Quick stats about Glasgow:
The average first-time buyer property (two-to-three-bedroom house) in Glasgow and the surrounding area costs £134,385 with the average deposit required being £18,142.
The average annual income needed from a first-time buyer household is £29,061.
The most affordable area is G34, which comprises of Easterhouse, Easthall and Provanhall and is around 15 minutes’ drive from the centre of Glasgow. The average house price for first-time buyers in the area stands at £55,415, requiring a deposit of £7,481 and a household income of £11,983.
For affordable housing slightly closer to the centre of Glasgow, head east to Bridgeton (G40), where the average first-time buyer home costs £100,245 and requires a household income of £21,678. It’s an area ideal for sports enthusiasts, as it is home to the Sir Chris Hoy Velodrome and Celtic Park (Glasgow Celtic Football Club's home ground).
The most expensive options for first-time buyers can be found in G12, which contains part of the West End, Dowanhill, Hillhead, Hyndland and Kelvindale. The University of Glasgow and the Botanic Gardens are among the big draws of the area. First-time buyers can expect to pay an average of £269,570 for a property here, which is more than nine times the average salary for the area.
| Postcode | Area | Average house price | Average deposit required | Average household income required |
|---|---|---|---|---|
| G34 | Easterhouse, Easthall, Provanhall | £55,415 | £7,481 | £11,983 |
| G22 | Milton, Parkhouse, Possilpark | £81,775 | £11,040 | £17,684 |
| G21 | Balornock, Barmulloch, Cowlairs, Royston, Springburn | £83,205 | £11,233 | £17,993 |
| G52 | Cardonald, Hillington, Penilee, Mosspark | £90,084 | £12,161 | £19,481 |
| G45 | Castlemilk | £93,292 | £12,594 | £20,174 |
| G32 | Carmyle, Tollcross, Mount Vernon, Shettleston, Springboig | £97,464 | £13,158 | £21,077 |
| G51 | Govan, Ibrox | £97,474 | £13,159 | £21,079 |
| G40 | Bridgeton, Calton, Dalmarnock | £100,245 | £13,533 | £21,678 |
| G23 | Lambhill, Summerston | £114,322 | £15,433 | £24,722 |
| G33 | Cardowan, Craigend, Millerston, Robroyston, Ruchazie, Stepps | £120,024 | £16,203 | £25,955 |
How have we calculated it?
By looking at the average price of two-to-three-bedroom homes - the most common type of property purchase for first-time buyers in Glasgow.
We've then taken the average mortgage advance from lenders in the region, and worked out both the average deposit required and the amount that needs to be earned based on buyers being able to borrow up to four times their salary.
How can I afford a home as a first-time buyer?
Building as big a deposit as possible should be the first step. This allows you to gain a better mortgage rate because you will be borrowing a lower percentage of the overall value of the property.
Try to save a minimum 10% deposit. You may be able to put down less in some cases, but this means your monthly repayments will be higher.
You may also be able to get a leg up from the Government thanks to the Help to Buy scheme. The scheme requires first-time buyers and home-movers to raise a deposit of at least 5% of the property value. The Scottish Government will then provide an equity loan of up to 15%, so you'll only need to qualify for a mortgage of 80%.
Provided your credit score is in good order and your outgoings do not limit your ability to repay a mortgage, banks and building societies will typically lend up to an average of four times your salary. If you are buying as a couple, then it’s worth combining your incomes as it can make a marked difference.
Once you know how big a deposit you have accumulated and understand how much you might be able to borrow, you can assess how much you can afford to spend on a property. You can then get your search underway.
Don’t forget that there are other expenses that will crop up along the way, such as solicitor fees and moving costs. The good news is that stamp duty land tax is waived for first-time buyers on the first £300,000 of the purchase.
For more help purchasing your first home, read our first-time buyers guides here.
First-time buyer affordability in Scotland
As our map, below, shows, there’s plenty of opportunity to for first-time buyers looking for affordable homes throughout the rest of Scotland.
The town of Paisley to the west of Glasgow should be on the radar of first-time buyers, with the average asking price for properties in PA3 standing at £86,159.
To the south of Glasgow, Kilmarnock, Ayr and Irvine also provide affordable options, with borrowing sitting below four times average earnings.
Edinburgh is one of the priciest areas for those looking to get on the property ladder, but if you don’t mind a short commute, then the town of Dalkeith (EH22) to the south east of the city should be worth considering.
Another coastal city providing affordable homes is Dundee, where first-time buyers require a household income of less than £23,000 in both DD3 and DD4.
(Click on image for larger map)
First-time buyer affordability in the UK
Scotland fares well against the rest of the UK when it comes to affordable housing for first-time buyers, as our map, below, shows.
Regions that are similarly valued include the North East, the East Midlands and South Wales.
But it is worth noting that while the UK-wide map might provide a helpful overview, the property market fluctuates on a far more local level and you need to take a closer look at locations, like we've done with Glasgow, above, to seek out value.
Full methodology: House prices taken from a subset of Zoopla-partner Hometrack's stock valuation database (one-to-two beds for London and two-to-three bedrooms for rest of UK). Median price calculated as of June 2018. Median advance taken by region (c75% for London, c85% outside of London) from UK Finance. Term of Mortgage: 25 years. Interest rate: 2.00%. Loan to income ratio: 4.0. Earnings required for affordability is greater of those required to satisfy loan-to-income threshold or income required to service the mortgage.