Joni Esson

New data in Aberdeen Solicitors’ Property Centre’s (ASPC) most recent quarterly report has highlighted a 1.4% rise in housing prices in Aberdeen.

Joni Esson, legal expert and managing director at Esson & Aberdein, said: “This report represents real positivity for Aberdeen’s housing market. The past 12 months have been steady but as we entered spring, there was most definitely an upturn in positive interest across Aberdeen’s property.

“As we start to return to post-pandemic normality, relocation is becoming the norm again as the world opens up. In turn, more properties in the area are becoming readily available.

“As a result, the supply of good quality family homes is continuing, resulting in more people moving to, or relocating within, Aberdeen and its suburbs. For example, we at Esson & Aberdein are noticing a real interest in three-bedroom family homes across established neighbourhoods.”

The report is based on Q1 2022 data from the ASPC and has been compiled by the Centre for Real Estate Research (CRER) at the University of Aberdeen Business School.

It showed that the average price for a detached home in Aberdeen during Q1 of 2022 rose to £320,026 in comparison to 2021’s Q4 price of £317,653.

On top of the rise in detached home prices, the quarterly mark up ratio across properties was 1.00, demonstrating that properties were selling for the asking price.

Ms Esson added: “The report gives us an insight into the long term picture. The house price change over five years in Aberdeen is -1.2%. This figure is slowly decreasing showing the market’s recovery is going the right way, slowly but surely.

“It’s great to see an increase in such important figures that clearly demonstrate a positive shift in the housing market. The report in general has reaffirmed that the market is most definitely on the up once again.”