Aberdeen property market on the up

Aberdeen City

THE LATEST figures from Aberdeen Solicitors Property Centre (ASPC) have shown a 10% rise in the number of properties for sale during the first quarter of 2024.

Sales are also up 4%, with the average property price rising 3% to £196,407.

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Commenting on these figures, ASPC chairman John MacRae has said that the market is likely to remain “reasonably resilient for the short to medium term”.

Estate agent Laura Mearns believes 2024 has so far “defied expectations”. She said:

“We’ve seen a surge in activity. Buyer confidence has been boosted by the stabilising mortgage rates, particularly in the first-time buyer market – 51 %of our properties listed were sold in quarter one, demonstrating a clear market shift.”

Figures show that 993 properties were sold through ASPC between October and Decemberof 2023. The typical price of a flat in Aberdeen was £121,506, a semi-detached property was £190,609 and a detached home was £323,237.

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