Aberdeen housing market 3rd quarter 2015 figures

Aberdeen Solicitors’ Property Centre Limited, in cooperation with the University of Aberdeen, Business School, Centre for Real Estate Research, has published statistics for the third quarter of 2015 relating to the Aberdeen housing market.

The report is based on a “constant quality” methodology. The main points arising from the report are as follows:

  • In the third quarter of 2015, house prices in Aberdeen city and suburbs decreased by 0.8 per cent.
  • In Scotland over the same period, house prices decreased by 1.3 per cent.
  • The annual house price change in Aberdeen city and suburbs is -1.7 per cent.
  • The annual house price change in Scotland is 6.4 per cent.

In the third quarter of 2015, the volume of sales decreased by 8.7 per cent compared to the second quarter of 2015 and decreased by 15.1 per cent compared with the volume of sales a year ago.

Commenting on these figures, John MacRae, chairman of the board of directors of ASPC said: 
“The third quarter figures are, normally, lower than the second quarter figures in each year, due to seasonal influences.

“This year is no different. It may be, however, because of the extent of the difference between second and third quarters, that we can see the effect of the current difficulties affecting the local economy beginning to affect our local market.”

He added: “The volume of sales indicates a slight lessening of confidence in the market and may indicate that some people are ‘sitting tight’ rather than exposing their property for sale.

“This factor is mainly felt in the mid to upper price range. In the market for flats there is still good activity and the cost of borrowing remains low.

“Overall, given the difficulties being encountered in the local economy, the local housing market is showing an encouraging degree of resilience.”

ASPC survey