Every quarter, the Centre for Real Estate Research at the University of Aberdeen Business School uses ASPC data to monitor trends in Aberdeen’s property market.

While still in some difficulty, the local area housing market is beginning to show signs of recovering a significant degree of stability. In Q3 of 2018, the numbers of sales are up slightly and the rate of downward movement in prices is slowing down, if not levelling out.

The third quarter is the second consecutive quarter this year demonstrating no change in house price in Aberdeen City and Suburbs. The annual house price change in Q3 is less of a negative figure than the change in the second quarter (-3.9% compared to -6.5%).

It is very encouraging to see that, after a very difficult start to the year – caused probably by the Beast from the East – the remainder of the year has been fairly consistent in showing some degree of stability.

As well as house prices stabilising, we are seeing better numbers of sales going through and I am hoping that, despite the usual and expected fourth quarter slight downturn, 2019 will continue to show better stability in our market.

It should be borne in mind that while the oil price has stabilised and increased, the general economic situation, particularly the Brexit background, may be having a detrimental effect on confidence and on people’s plans for the future, so it is really quite encouraging to see more positive results so far this year.

The full report can be read here: https://www.aspc.co.uk/media/1629/third-quarter-2018.pdf