HOMEBUYERS in Glasgow are prepared to pay more for properties, with the average selling £27,000 above their asking price.

The latest house price report published by s1homes.com reveals that, overall, in the first three months of this year, properties across Scotland are selling on average 5% above their asking price.

This means that, on average, buyers are willing to pay up to £9,000 more.

Flats and terraced houses are bringing in the most profit for sellers across Scotland, with flats selling for £29,000 more than their asking price and terraced houses for £20,000 more.

Martin Devlin, head of sales at s1homes, described how the report continues to reflect “the confidence in the overall market,” with average selling prices across Scotland higher than asking prices.

He added: “What’s also apparent is that owners of detached properties are firmly sticking to their prices despite no evidence of buyers being willing to meet their expectations.”

Commenting on Glasgow and Dunbartonshire’s performance, estate agent Sandra Hill, said: “Housing stock levels have been on a par with those last year. However, as more lending becomes available for first time buyers, and changes coming into play for those in the rental market, expectation is these levels of growth will continue into the second half of 2018.”

The quarterly Scottish House Price Report analyses the Reality Gap, the difference between what sellers hope to sell their properties for and the price they actually achieve.

The report, published quarterly, compares the asking prices of over 20,000 properties for sale on s1homes with the actual prices achieved as recorded by the official government agency, Registers of Scotland, and provides trends in the various property markets throughout Scotland.

See the full report, including regional breakdowns, at s1homes.com/house-price-report