Property experts warn of market slow-down
Rise in Aberdeen property prices
Published:
ABERDEEN house prices are still rising – despite the current credit crunch.
But while prices continue to go up, the increases are much smaller than they were in previous months.
Figures out today showed house prices in Aberdeen rose by 19% over the past year.
But the rise for the past quarter was just 2%.
Areas outside Aberdeen showed an annual increase of 26% – and a quarterly rise of 3.4%.
The Lloyds TSB Scotland figures mark a property u-turn after the last quarter showed house prices had fallen in Scotland for the first time in seven years.
Lloyds TSB Scotland say the latest figures from the Scottish House Price Monitor show the tables have turned.
Professor Donald MacRae, chief economist at the company, said: “Following last quarter’s pause for breath after seven years of house price increases, the average Scottish house price is on the rise again. However the rate of an increase has slowed substantially to a much more sustainable rate.”
The first three months of this year saw an average house price of £178,500 for Aberdeen.
This figure crept up to £180,400 by the end of April.
Dundee was the only area to report a fall this quarter while the Central, Fife, Perth and Tayside area still reported an annual rise of 13%.
And flats are showing an increase of 4.1% while interest in buying terraced houses fell with a decrease of 2.4%.
John MacRae of Aberdeen Solicitors Property Centre (ASPC) said: “In Aberdeen, the market is holding firm but there’s not been much of a recent increase. And we are not expecting major increases this year.
“We are more concerned about whether there will be a decrease.”
Readers' Comments
Sheer propaganda written by companies with vested interests in keeping prices stupidly high. Look on ASPC...so many fixed price properties...sheer desperation by sellers. Properties reducing in price by the week. Check out House Price Crash website to see what is really happening.
Patricia Madsen
Report this comment
The Evening Express is happy to encourage discussion and debate on the topics featured within our newspaper and on our website.
However, we would urge people to respect the opinions of others even if they do not agree with them. We will not tolerate abusive comments of any type and such posts will be removed with the people responsible facing a ban from this website.
Only registered users can supply comments, and your registered name and location will automatically be appended to any comment that you upload.
We reserve the right to remove comments from anyone using a false name or pseudonym.