The 4th quarter of 2018’s figures have just been released by the Aberdeen Solicitors Property Centre and there is some further good news, following on from Q3. Sales volume is up by over 11% compared to this time, last year. Putting this into context, it is even better news when you consider that the winter market is historically the slowest quarter of the year for buying and selling a property.
You may ask ‘what does this show us about the market?’ The major point to take from this report is that it shows a marked increase in consumer confidence when buying and selling property in Aberdeen and Aberdeenshire.
This is a sentiment which is echoed by the ASPC chairman, John McRae, who stated in his press release that “…the sales of properties in the third and fourth quarters of 2018 exceeded the sales in the corresponding periods of 2017”. Which again would suggest that the market is more buoyant than it was 12 – 18 months ago with both buyers and sellers being active in the market, in larger numbers than the previous year.
Further, Mr McRae stated that “Properties [are] being priced to sell and buyers seemed to be appreciating that there might not be a better time to make a move, given the… prices and current low interest rates”. This shows buyers that there has never been a better time, within the past 12 months, to either look to get on the property ladder or to make that move upwards; given that the market is finding itself in a new position of equilibrium.
Accordingly, this should give both buyers and sellers the confidence that when marketing their properties for sale, the market is much more fluid than it has been previously, which gives the opportune chance to sell and correspondingly buy property in Aberdeen and Aberdeenshire.
Should you wish to discuss any aspect of buying or selling your property, please contact Jamie Robertson in our Aberdeen office directly on 01224 588 913 or another member of our Property Team.
Jamie Robertson, senior solicitor, Blackadders LLP