HOMES in Aberdeen are typically spending 27 percent less time on market than they were this time last year, according to home buying company Quick Move Now.
Typical time on market has fallen from 253 days in November 2020 to 185 days in November 2021.
Commenting on the figures, Danny Luke, Quick Move Now’s managing director, says: “Aberdeen’s property market has experienced several challenges over the last few years, so these lower time on market figures are very encouraging.
“Economic difficulties in the last ten to fifteen years have had a big impact on the local property market, as many homeowners moved away from Aberdeen for work. Demand for rental property in the city also waned quickly.
“Whilst there have been some encouraging signs of recovery in recent years, the property market in Aberdeen really is unique and has not experienced the level of recovery seen in other areas.”
So, what does 2022 hold for the local property market?
“Covid-19 and the associated lockdowns have caused many people to reconsider their work-life balance. As a result, rural homes are becoming more desirable, which is great news for the wider county of Aberdeenshire. Realistic property prices also make Aberdeen and the surround areas an attractive prospect for home hunters from around the UK who now have increased freedom to work from home.
“I would expect to see growing demand for property in the area over the next year or two. Property values in Aberdeen itself may not recover to the levels seen in 2014/2015, but I would certainly expect to see growth. Now is a great time to buy if you’re looking for a long-term investment.”