Aberdeen’s housing market saw a notable downturn in both prices and property transactions during the first quarter of 2025, according to the latest report from the Aberdeen Solicitors Property Centre (ASPC).
The ASPC’s quality-controlled index shows that house prices in Aberdeen fell by 1.0% in the first quarter of 2025 compared to the previous quarter. On an annual basis, prices have dropped by 1.4%. This marks a continuation of the downward trend observed at the end of 2024, when prices were already showing a 1.7% quarterly decline.
For specific property types in Aberdeen City, the average prices in Q1 2025 were:
- Flats: £118,449 (down from £119,886 in Q4 2024)
- Semi-detached houses: £182,495 (down from £184,413)
- Detached houses: £321,330 (up slightly from £318,799)
The number of residential transactions in Aberdeen and Aberdeenshire fell sharply in Q1 2025, with just 1,120 dwellings sold-a 19.6% drop compared to the final quarter of 2024. Detached homes saw the steepest quarterly decline in transactions, down by 31.6%.
However, when compared to the same period last year, the market showed a 16.7% increase in transactions, suggesting some underlying resilience. Flats saw a 14% year-on-year rise in sales, semi-detached homes rose by 16.1%, and detached houses by 20.9%.
John MacRae, Chairman of the ASPC, acknowledged the mixed signals in the market. He stated:
“Last year was an interesting year as we began to see a steady improvement in the number of transactions. This gave me hope that our local market might be achieving stability. It is very encouraging to see the first quarter of 2025 performing better than the first quarter of 2024. Given all that has been happening in the wider world, the first quarter results for our housing market are grounds for optimism.”
MacRae also noted that seasonal factors typically lead to lower activity in the first quarter, and that the overall increase in annual transactions is a positive sign for the local market.
Despite the recent quarterly slump, the annualised five-year house price change remains slightly positive at 0.7%.
Market observers will be watching closely to see if the uptick in transaction numbers can eventually help stabilise prices in the months ahead.
