Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner.

North-east house sales increase, but property glut hits prices

Post Thumbnail

House sales are increasing in many parts of the north-east but a property glut has hit prices.

An Aberdeen and North East Residential Report launched by property giant Savills this morning highlights a continuing market recovery as the region shakes off the recent oil and gas downturn.

Annual sales across Aberdeen and Aberdeenshire have held firm at just under 8,000 for nearly three years.

But while the volume of house sales in the Granite City fell slightly during the 12 months to August 2019, Aberdeenshire transactions rose by 6%.

Savills says top performers include Insch and Portlethen, while the AB51 postcode district, including the expanding commuter towns of Inverurie, Kintore and

Oldmeldrum, remained the most active market in the shire after a 19% jump in sales.
The impact of the AWPR is reflected by increases for locations with easy access, with Peterculter and Westhill (up 27%) enjoying a particularly good bypass boost, the report says.

Prime sales across the region – those involving homes worth more than £400,000 – grew by 6%, with the AB15 postcode area, including Cults, Bieldside and the west end of Aberdeen, accounting for nearly 30% of the total.

Savills says the recovery has spread to Milltimber and Aboyne, while Aberdeen has enjoyed its strongest£1 million-plus market in three years, with 11 sales in this category during the year to August.

More than half were in the AB15 postcode.

A glut of mainly lower-priced homes on the market caused average prices in the city and shire to fall by 3.5%, to £146,141 and £189,784 respectively.

But Savills predicts prices could start to rise from 2021 and grow by 3.5% between now and 2024.

Faisal Choudhry, head of residential Research for Savills in Scotland, said: “Overall economic output by the end of the year is expected to increase for the first time since 2014 and we anticipate a subsequent surge in buyer activity. Activity will continue to recover, provided sellers maintain realistic price expectations.”

More from Energy Voice

Latest Posts