The report released by the Centre for Real Estate Research at the University of Aberdeen Business School, for the first quarter of 2025 has just been released.
The report discloses that 2 out of 3 price indices show negative numbers, but the degree of negativity in each index is reduced
▪ The quarterly house price change in Aberdeen is -1.0%
▪ The annual house price change in Aberdeen is -1.4%
▪ The annualised house price change over 5 years in Aberdeen is 0.7%
The report also discloses that the number of transactions and listings, compared like for like, on a year on year basis, has increased, by an (overall) magnitude of 16.7%.
Looking at that situation, in more detail, shows that different types of dwelling achieve slightly different rates of increase.
Flats have shown an increase in transactions by 14% compared to the first quarter of 2024. Semi-detached dwellings have shown an increase of 16.1%.
Detached dwellings have shown an increase of 20.9%.
Comparing the first quarter of 2025 with the fourth quarter of 2024 does not show the same position, quite the reverse with each sector showing decreases in activity. This, however, is to be expected, due to seasonal factors. Almost without exception, other than 2020, the graph of activity of our local market is a fairly shallow parabolic curve from January to December.
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.”
Further information can be obtained from John MacRae, Chairman of Aberdeen Solicitors’ Property Centre e-mail, [email protected].
