Aberdeen Property Market Continues To Show Healthy Results
The Aberdeenshire property market continues to prosper after a healthy start to the year.
CKD Galbraith's office in Aberdeen has experienced an increase in the number of property sales over the second quarter of the year (period April- June 2015) compared to the first quarter, with more properties coming onto the market.
Research conducted by CKD Galbraith over the Q2 period of 2015 presents an encouraging picture for the Scottish property market as a whole which has witnessed steady growth over the first half of 2015. The firm’s overall sales were up 4.65% during quarter two of this year compared to the first quarter of 2015.
The number of properties sold during this period in the Aberdeen area was up compared to the first quarter of 2015 whilst the supply of properties coming onto the market increased by 27%.
Buyer confidence has also improved in the Aberdeenshire market with the firm reporting an increase in the number of viewings conducted being up 30% on the first quarter of the year.
CKD Galbraith’s Aberdeen statistics from the second quarter also show:
- 75% of sales were completed by local buyers, 25% national
- The average time taken to sell property was seven weeks, down by two weeks compared to the first quarter of 2015
- Quickest time to sell was only five days for a 3 bed semi-detached within the city’s west-end
- Property sale values ranged from £105,000 to £670,000
- 38% of purchases were made by cash buyers
Jordan Mackay, head of residential at the Aberdeen office, said:
"The Aberdeen property market is continuing to show healthy results with our team handling an increase in property sales over the last three months. There is still some resistance at the top end of the market due to falling oil prices however we are witnessing a rise in buyer confidence with the average time to sell a property falling, more viewings taking place and city centre and country properties continuing to sell well."