The new Dons stadium could see a boost for house prices in the surrounding area, a property expert said today.
The comments were made as new analysis by the Bank of Scotland found the average house price close to Scottish Premiership grounds has increased by 14% in the last decade.
Overall, there has been an average increase of £18,285 from £134,518 in 2008 to £152,803 in 2018, despite a decrease in average prices near five stadiums – including Pittodrie, which saw a 7% fall to £138,045.
Hibs are top of the table with an average house price of £218,734 – more than double Celtic and Rangers.
The analysis took account of average house prices in the same postal district as each stadium.
Bob Fraser, pictured, senior property partner at Aberdein Considine, said while it was “too early to say” what impact the new stadium could have on house prices in these areas, it was likely to have a “positive” effect.
Construction is under way on the first phase of a new £50 million stadium and training facility for the Dons at Kingsford, between Kingswells and Westhill.
Mr Fraser added: “However, the development will bring substantial new infrastructure and community facilities to the area, which are likely to have a positive impact on house prices.”
He added “wider economic factors”, including the oil price crash, were behind the price drop recorded in property prices around Pittodrie.
John MacRae, chairman of the Aberdeen Solicitors’ Property Centre, echoed Mr Fraser and said the fall in price was due to the “poor market” in the city at the moment.
Raymond Edgar, project director of the new Dons stadium, said: “It’s good news for the residents in those communities close to our development and reinforces our view that people don’t need to fear our plans but embrace them for all the benefits they will bring.”
Mr Edgar added that the fall in prices in Pittodrie is “more probably” due to the downturn in the market across the city, given that Pittodrie was there before many of the houses.
The No Kingsford Stadium group has raised concerns over the impact of the development on the environment and infrastructure and is opposed to its location on greenbelt land.