Aberdeen, Scotland.
A real estate law firm has discovered that Aberdeen’s property market is showing signs of recovery.
Abadaine Considine said the improving economy may have led to a stronger housing market, with house prices rising for the first time in two years.
A real estate law firm has announced that sales in Aberdeen have increased “significantly” compared to the same period in 2017. Real estate sales increased by 7.9%.
The average price of a house in the Scottish city is £199,834, while the average house price in Edinburgh is £267,035.
Jacqueline Law, managing partner at Aberdeen Considine, said: “Aberdeen’s turnaround is good news after a long and difficult period and shows the North East is beginning to emerge from one of its most difficult downturns. I hope it’s something.”
“There is still a huge amount of work to do to get back on track, but news of long-term investment plans for the region and oil prices reaching $80 this year provide a much-needed level of optimism. I hope we get a good view of it” to keep the momentum going. ”
“Crucially, the positive effects of a return to sustainable growth in the energy sector should spill over to other parts of the country, benefiting companies across the supply chain.”
“The property market across Scotland is in fairly healthy shape and the fact that all three regions have broken the £250,000 price barrier shows there is still significant pent-up demand.”
“However, despite the current feel-good factors, we cannot ignore the ongoing disruption related to Brexit and the associated uncertainty this is causing for businesses and homeowners alike.”
“Having said that, the energy industry is inherently international, and the return of a stable and prosperous oil and gas industry is in line with the challenges this country is likely to face in the coming months and years. “We hope that this will provide some protection against this,” she added.
In October, the city was predicted to experience a housing market boom thanks to new jobs in the oil industry.
