Aberdeen housing market on ‘level playing field’

THE Aberdeen housing market today welcomed a “calm” after months of turbulence, a property expert said.

Forbes McLennan, of Aberdeen-based estate agent James and George Collie, believes people were now realising the economic crisis had left a “level playing field” for buyers and sellers.

Mr McLennan said: “Our view is that this is as good a time to sell as there has been since 2007.

“It is also a good time to buy as there is less competition than in the boom years.

“Unusually, the playing field is level between sellers and purchasers at the moment.”

He explained the credit crunch had sparked a 33% crash in house sales in Aberdeen, leaving “almost nothing to buy”.

Only 455 properties were on sale at the Aberdeen Solicitors’ Property Centre at the end of 2006, he said.

The Aberdeen market then expanded by more than four times by the end of 2008 with 2,218 properties for sale.

But calm seems to have returned to the Aberdeen housing market with latest figures for the last quarter of 2009 showing a “more manageable” 1,255 properties for sale.

Mr McLennan said: “It is clear that we now have a changed market and the heady days of 2006 and 2007 are well gone.”