In the property industry, it’s safe to say 2021 has been the year of comebacks. Throughout 2021, the UK housing market has enjoyed record sale prices with sales expected to total an astounding £437bn at the end of this month. The volume of sales has also risen exponentially, making this year in the property market the strongest since 2007.
The Scottish housing market similarly bounced back faster than anyone could have predicted. This year, the sales boom has been evident across every region and it’s been a highly competitive rising market. The average house price in Scotland has increased by 8.5% in the past 12 months.
Industry experts Zoopla predict that house prices will slow to 3% in 2022, but the Scottish market is set to continue to do well. In Aberdeen, with demand still outstripping supply, a healthy housing market is likely to continue.
WHAT ARE THE AVERAGE HOUSE PRICES IN ABERDEEN?
By the end of 2021, the average price for property in Aberdeen was around £234,000, according to Zoopla. And, according to Aberdeen Solicitors’ Property Centre, Aberdeen City and the suburbs have seen an annual house price change of 6.6% this year.
In the last three months alone, there’s been an impressive 2.38% increase according to Zoopla. This demonstrates steady improvement in the local housing market.
The property market shows signs of recovery and demand is clearly back for homes in Aberdeen when compared with 2020 when the average price of homes in Aberdeen fell by 0.09%.
In terms of property types, flats in Aberdeen sold for an average of £161,000 and terraced houses for £224,000 according to current Zoopla estimates. In 2020, flats in Aberdeen sold for an average of £150,000 while terraced houses sold for around £206,000.
ABERDEEN PROPERTY MARKET PREDICTIONS: WHAT TO EXPECT IN 2022
- With the housing market in Aberdeen showing signs of recovery, we anticipate this to continue in 2022 as buyers take advantage of low mortgage interest rates
- Demand for flats is set to continue in 2022 with more first-time buyers taking advantage of new mortgages
- Property sales times are set to reduce, driven by pent-up demand for homes, private outdoor space and more open green space.
GET A HOME REPORT FROM THE HOME REPORT COMPANY
With the Scottish property market conditions looking positive, it’s always worth being prepared as a seller or a buyer. Getting a Home Report early is the ideal way to prepare and avoid any sudden surprises. Read our expert guide to learn more about Home Reports and what documents are included.
