The north-east’s property market is on the up, new figures suggest.
Aberdein Considine has published the latest statistics which summarise building sales in recent months – and there are positive signs in the region.
According to the figures, the overall value of property sold in Aberdeen and Aberdeenshire was close to £1.2 billion from the start of 2019 to the end of September – £24 million more than the same period in 2018.
In Aberdeenshire, the number of sales rose 4.1% and the value of property changing hands rose 4.4% to £255m.
The figures also indicated Aberdeen has emerged as a hotspot for new-build houses. The average cost of a new-build home in the city is £299,663 – third only in Scotland to East Renfrewshire and East Dunbartonshire.
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Aberdein Considine’s senior property partner Bob Fraser said: “The market in the north-east is continuing its recovery and it’s extremely welcome to see an increase in the number of homes changing hands. It definitely feels like we have weathered the worst of the housing market downturn.”
However, research carried out by the firm show half of all homeowners questioned feared their homes will lose value after Brexit.
Aberdein Considine managing partner Jacqueline Law said: “There has, over the third quarter of the year, been a sharp increase in the number of Scots who fear that Brexit will result in the value of their home decreasing.
“There is clearly homeowner anxiety around Brexit, but this has yet to be reflected in sales figures, perhaps due to the greater public having little idea what Brexit will actually look like.
“With another extension in place, we would expect to see these fears ease in the final quarter of 2019 as a new Parliament is elected. The make-up of that parliament will have a big say on what market sentiment will be going into the first quarter of next year.”