Aberdeen has been named the best city in Scotland for first-time buyers, according to new research.
MoneySuperMarket, the price comparison site, has announced the results of its annual First-Time Buyer Index, revealing Aberdeen is within the top five locations across the UK for those looking to get on the property ladder.
The city has been hailed for its relatively low contents theft rate, higher than average disposable income and good property prices, with first-time buyers able to get a one-bedroom property for an average of £93,000.
Chris Comfort, partner at Aberdein Considine, said the city is experiencing the best buyers’ market in two decades, adding: “The market in Aberdeen has been sluggish for some time but with the gradual return of optimism in the oil and gas sector, we could see this changing over the next few months and years.
“This is probably the best buyers’ market for around 20 years and the city has an excellent choice of great value, centrally-located properties for first time buyers, such as the Fraser House apartments in Market Street.
“Aberdeen has always been a desirable location for first-time buyers, with plenty of bars and restaurants and with the Union Square retail development, it has become a genuine shopping destination.
“With businesses again looking to increase hiring and with the potential rise in demand, this might be the ideal time to explore the property opportunities the city has to offer.”
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Aberdeen ranks 16 places ahead of fellow Scottish city Glasgow and is the highest-rated Scottish city.
The in-depth report ranks 35 cities against six factors for first time-buyers.
Bath was named as the best city overall, with London ranked as the worst with a one-bedroom property costing on average £486,924.
Rachel Wait, consumer affairs spokeswoman at MoneySuperMarket, said: “Despite uncertain political times, it’s refreshing to see that the first-time buyer market has continued to grow in the UK, rising 1.9% from 2017 to 2019.”