The Aberdeen Property Market is set for a Healthy 2015
CKD Galbraith believes the outlook is optimistic for 2015 following a successful year in 2014; with encouraging levels of activity in the property market throughout Scotland and a return to competitive bidding.
The fourth quarter of 2014 (October - December) saw property sales and viewing figures in Aberdeen continue to grow on the previous quarter’s figures according to new research conducted by the firm’s Aberdeen office. Despite the slowdown during the referendum the market bounced back in November and confidence returned along with English and international buyers.
Aberdeen has truly been one of CKD Galbraith’s success stories for 2014. The firm officially opened the office in Cults, Aberdeen in July 2014 to meet growing demand in the burgeoning North East residential property market and has seen steady growth from both within the city centre and the commuter belts.
The Aberdeen office statistics from quarter four of 2014 show:
- The Aberdeen office has seen an impressive increase in the number of sale this quarter; a 33% rise in sales compared to the third quarter of 2014
- The supply of high quality properties in the region has risen by 23% compared to the last quarter
- The number of viewings has increased by 15% in the last quarter compared to quarter three
Jordan MacKay, head of residential for CKD Galbraith in Aberdeen said:
“Aberdeen has come out trumps in 2014, property prices continued to rise in the region and buyers were serious about purchasing accurately priced homes. Although we envisage a plateauing in prices over the next year we do expect interest and offers to keep increasing as the city and surrounding areas grow in popularity.
“Everything from holiday homes to first homes are currently in demand in Aberdeen. This has been further boosted by the number of new properties we have brought to the market and the increase in transaction levels.
“Although we are optimistic for the sector in 2015 we don’t foresee its growth as immune to the political and legislative changes set to take place, changes to stamp duty and the general elections will most certainly effect decisions over the coming six months.”
CKD Galbraith operates a network of regional offices located throughout the country and has enjoyed good growth over the last year. The firm as a whole experienced a 24% increase in the number of sales in the final quarter of 2014 compared to the third quarter. As well as the improvement in sales figures, there was also a 23% increase in the number of viewings against 2013’s figures for the final quarter.
Throughout 2014, CKD Galbraith handled property in excess of £375million covering property throughout the whole of Scotland. Prices achieved for all properties sold by the firm during 2014 were, on average 1.54% over the asking price, highlighting the firm’s unrivalled local knowledge of the market and expertise in setting prudent valuations.