Aberdeen property market shows encouraging results in Q4 market report
Aberdeen Solicitors’ Property Centre Limited, in cooperation with the University of Aberdeen, Business School, Centre for Real Estate Research, has published statistics for the fourth quarter of 2021 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: -
- The quarterly house price change in Aberdeen City and Suburbs is -1.5%
- The annual house price change in Aberdeen City and suburbs is +1.7%
- The annualised house price change over 5 years in Aberdeen City and suburbs is –1.5%
Commenting on these figures, John MacRae, Chairman of the Board of Directors of ASPC said: “The report released by the Centre for Real Estate Research at the University of Aberdeen Business School, for the fourth quarter of the year has just been released.
“While the results demonstrate a fall back, to some extent, from the position in the preceding (third) quarter, a significant part of that will be down, I suggest, to 1 main factor. The fourth quarter is often a relatively quiet quarter, when the activity decreases as the year end approaches.
“Since then, other factors have arisen which may affect our local housing market, this year. The economic outlook is unclear – energy prices, inflation and a possible conflict in Eastern Europe – are likely to have some effect on confidence. On the other hand, oil prices have risen sharply.
“Currently – 31st January, our experience is that our market is starting the year with good levels of activity. Insertions for January are 412, sales 336 (2021 - 357 and 341). These are up on last year and slightly better than we would expect. Last year we were still experiencing the “bounce back factor” to some extent, so the current year levels are grounds for optimism. Further encouragement can be gained from the facts that deals are being done at or near asking price, and in some cases closing dates are being fixed.
“While there are some indicators in the general outlook to cause concern for housing markets, our local market has started the year in good heart and insertions and sales are at an encouraging level.”
The full Quarter 4 report for 2021 can be read here.