Tuesday, July 5, 2022
Property and ConstructionGranite city property market beginning to sparkle again

Granite city property market beginning to sparkle again

ABERDEEN’S housing market is now firmly on the up after a year of solid price and demand growth, according to a leading solicitor estate agent.

New data in Aberdeen Solicitors’ Property Centre’s (ASPC) most recent quarterly report has highlighted a 1.4% rise in housing prices in Aberdeen.

Joni Esson, legal expert and Managing Director at Esson & Aberdein, is confident that the findings demonstrate the city’s housing market returning to a former position of strength.

Joni Esson of Esson Aberdein.
Joni Esson believes the report represents “real positivity” for Aberdeen’s housing market.

Joni said: “This report represents real positivity for Aberdeen’s housing market.

“The past 12 months have been steady but as we entered spring, there was most definitely an upturn in positive interest across Aberdeen’s property.

“As we start to return to post-pandemic normality, relocation is becoming the norm again as the world opens up. In turn, more properties in the area are becoming readily available.

“As a result, the supply of good quality family homes is continuing, resulting in more people moving to, or relocating within, Aberdeen and its suburbs.”

The report is based on Q1 2022 data from the ASPC and has been compiled by the Centre for Real Estate Research (CRER) at the University of Aberdeen Business School.

It showed that the average price for a detached home in Aberdeen during Q1 of 2022 rose to £320,026 in comparison to 2021’s Q4 price of £317,653.

On top of the rise in detached home prices, the quarterly mark up ratio across properties was 1.00, demonstrating that properties were selling for the asking price.

Joni added: “The report gives us an insight into the long term picture.

“The house price change over five years in Aberdeen is -1.2%.

“This figure is slowly decreasing showing the market’s recovery is going the right way, slowly but surely.

“It’s great to see an increase in such important figures that clearly demonstrate a positive shift in the housing market.

“The report in general has reaffirmed that the market is most definitely on the up once again.”

Esson & Aberdein is led by Joni Esson, who spent more than 10 years at Stronachs, and Rob Aberdein, who has gone on to become one of Scotland’s most prominent businessmen since leaving Aberdein Considine.

It formally launched last April with offices in the city’s West End.

The firm is committed to serving both Aberdeen and the surrounding area – and is a full-service practice – including property sales.

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