Aberdeen house prices down 2.4 per cent in last three months - ASPC

According to the Aberdeen Housing Market Report – 2nd Quarter 2016 produced by Aberdeen Solicitors’ Property Centre, in cooperation with the University of Aberdeen’s business school, the annual house price change in Aberdeen City and suburbs is -7.3 per cent.

The annualised house price change over 5 years in Aberdeen City and suburbs is 2.2 per cent.

Commenting on the figures, John MacRae, Chairman of the Board of Directors of ASPC, said: “The second quarter figures indicate the continuing effect the oil industry downturn is having on our local housing market. It is easy in times like this to fall into the trap of thinking that matters are more serious than they are but despite the downturn in the market, the local market is, in fact, continuing to perform reasonably well under pressure.

“A few figures may help. Sales volume across the 3 main types of property increased in the second quarter – flats by 2.5 per cent, semi-detached houses by 21% and detached houses by 14.5 per cent. Another indication of the state of the market is perhaps provided by the activity on the ASPC website where, so far in 2016, there have been 6 million visits to the website. There is, on average, 40,000 visits a day to the site. ASPC’s website is ahead of, or equal to, national sites for our local areas and almost two thirds of properties inserted sell within 100 days.”