Alba

What's The Position Of The Aberdeen Market?

68 posts in this topic

I was wondering if anyone has been keeping an eye on the West End of Aberdeen (houses) over the last couple of years? I started looking earlier in the year but only seriously keeping track over the last couple of months. Would just like to hear some general opinions (or actual stats) on how prices have been.

I'm looking to buy a 2/3 bedroom house and hoping to keep it under the £250k price range.

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I was wondering if anyone has been keeping an eye on the West End of Aberdeen (houses) over the last couple of years? I started looking earlier in the year but only seriously keeping track over the last couple of months. Would just like to hear some general opinions (or actual stats) on how prices have been.

I'm looking to buy a 2/3 bedroom house and hoping to keep it under the £250k price range.

As ever, Aberdeen, particularly WE, is out of kilter with the rest of the UK. As far as I am aware the decent stuff is still selling, so avoid 'walk-in' type properties. ( as a lot of purchases are company subsidised it's perhaps not surprising that punters are willing to pay for the convenience).

My tip would be to look closely to the executry type market. for a couple of reasons:

My experience has been that it's not so contested, as the houses generally need some work and the corporates are not up for that;

The sellers are not so price sensitive as your traditional 'trading up type sellers'. I mean there is a big difference in 50K off the selling price if you need that virtual equity for your next house, whereas if it's being split amongst siblings, and is a windfall inheritance, what's 12.5K each amongst 4 brothers.

That said, your budget will be severely stretched to get anything decent in the prime WE, and you may have to look at the hinterlands of Seafield, Hazlehead, Midstocket etc.

Best of luck

WD

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Thanks. That's what I had gathered but was hoping for someone to tell me otherwise! We've looked at a few requiring work but it's something we have no experience in so have been hoping for something ready to move in to. Think if rejiggling the figures doesn't work (stamp duty, grr) then it's patience or compromise. It's not really prime West End - more Mannofield, Seafield, Braeside.

Flats sold too quickly and easily for the house purchase to be quick and easy!

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If it looks like a duck, and quacks like a duck, it's probably a duck.

Aberdeen now 17% higher prices than the capital. 52% higher than Dundee. 55% higher than SW Scotland.

Bubble? Fact.

bubblefact.jpg

post-32658-0-65865600-1322496502_thumb.jpg

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Wondered if anyone would offer an opinion on some places I've been looking at. I'm interested in the first one but it's a fair bit over budget. It's been on since end Oct for o/o £295k and went fixed price a couple of days ago. The others are similar, in the same area but cheaper. Do you think the first one is overpriced?

http://www-s.aspc.co.uk/cgi-bin/public/LiveProperty/294356?ID=FOANPCED#picture

http://www-s.aspc.co.uk/cgi-bin/public/LiveProperty/293785?ID=FOANPCED#picture

http://www-s.aspc.co.uk/cgi-bin/public/LiveProperty/295104?ID=FOANPCED#picture

http://www-s.aspc.co.uk/cgi-bin/public/LiveProperty/295033?ID=FOANPCED#picture

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When you compare prices with other areas of the country, I feel that Aberdeen semis and detached are generally overpriced.

I wonder when a correction will come, like the one in the late 1980's.

It is not the same category but IMO you can now get more value for money in central Edinburgh, in the flats category. it is probably the same in your category.

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From todays P&J, smug sellers and smug Property Section, but interesting reading...

Property success stories

Donna Ross takes a look back at some of the most memorable house sales from 2011

Published: 20/12/2011

Kirkside, Barthol Chapel

More Pictures

IT SEEMS that even in tough economic times the right property at the right price will be snapped up almost immediately – as 2011 has demonstrated perfectly.

While some houses have been stuck on the market since the start of the year, other homes sold in no time at all – some in just a week.

Here, we take a look at some notable sales from the year.

56 Ashley Road, Aberdeen

Your Home featured the three-bedroom period terraced home in Aberdeen’s west end as the cover story in mid November when it was being marketed by selling agents Hamilton Watt & Co.

Delighted owner Jane Lawrenson said her family home went under offer only a few days after the article appeared in the supplement.

Jane said: “The Your Home coverage was fantastic. The photos really showed the house off at its best and we got lots of great comments about the article. Its prominence certainly helped with closing the deal so quickly and satisfactorily.

“It took just over a week from going live to selling the property with a really good interest from potential buyers. We got over the asking price of £395,000 and we were happy with the final offer.

“We can’t wait to move now into our new house.”

6 Woodlands Gardens, Pitfodels

This luxurious home on the outskirts of Aberdeen was featured as the Your Home cover story at the end of November – and was one of the fastest selling properties of 2011.

The executive home, which forms part of a small development of six houses built by Stewart Milne over four years ago, was put on the market with Ledingham Chalmers for offers over £975,000 – and was only on the market for four days before being snapped up.

Owners Syd and Mhairi Birnie said: “We got exactly what we hoped for the house, which yes, exceeded the asking price.

“We expected the house to sell quickly, but even we were surprised at the level of interest in such a short period.

“We are sure the new owners will make this home their very own and we can now concentrate on our new project.”

Bogskeathy House, Countesswells Road, Aberdeen

This eye-catching home was featured as the Your Home cover story in January when it went on sale with Strutt and Parker for offers over £695,000.

The luxurious home proved to be extremely popular with house-hunters and was only on the market for 10 days and had nine viewings in that time before going under offer.

Perhaps its range of eye-catching features including a large central reception hall; beautiful oak-topped central island in the kitchen; built-in remote control cinema screen in the upper living room, and an upstairs balcony were enough to help the house sell so quickly.

Durris Manse, Durris, near Banchory

Your Home featured this grand Victorian home back in February when Strutt & Parker put it on the market for offers over £550,000 in February.

Within a week it had been viewed 41 times and its popularity meant it was put to a closing date at the start of March – and had been viewed a whopping 64 times and had seven offers at the closing date.

5 Springdale Road, Bieldside

Your Home advertised this beautiful four-bedroom detached home in September this year when it was being marketed by Stronachs for offers over £490,000.

In showhome condition, and crafted by Deeside Interiors, it ticked all the boxes for those looking for a home that would accommodate a growing, modern family.

Jacqui Dougray of Stronachs said: “This was a beautiful property which our clients purchased and extended to suit them over the past five or six years. It was stunning inside and the kitchen had been thoughtfully designed to cater for every requirement.

“This one sold within three weeks after a closing date was achieved, and whilst I can’t reveal the actual selling price, it did achieve a good amount over the £500,000 valuation, which in the current market is unusual.”

Aultnacoille, by Banchory

Aultnacoille was listed by Simpson and Marwick for sale in July at the Home Report valuation of offers over £1,600,000. The modern home was featured as the Your Home cover story in August, and sold soon after.

David Geddie said: The high value of the property clearly cut down the number of prospective buyers in the market place but we were absolutely delighted with the level of enquiry generated through our agency and assisted by the feature in Your Home.

“We negotiated and agreed acceptable terms for the sale at a price of £1,650,000.”

10 Marine Terrace, Aberdeen

After being on the market for only two weeks with Simpson & Marwick, the Archibald Simpson designed townhouse in Ferryhill sold for over its asking price.

Mr Geddie said: “We listed the property on May 19 at offers over £875,000 which was the Home Report value. We had the property under offer at a substantial premium of £960,000 within two weeks of listing with the bargain concluded promptly thereafter.”

RAEBURN Christie Clark & Wallace reported that they had a number of fast sales this year including Kirkside in Barthol Chapel which was on the market at offers over £280,000 and sold within two weeks.

Windyhills in Meikle Wartle which was on at offers over £215,000 went to a closing date within a week and achieved a good price above valuation.

Properties from the north

On June 7 we revealed two outstanding country estates in Wester Ross had gone on sale.

Set among some of the most dramatic and unspoilt landscape in the country, the Tournaig Estate and Heights of Kinlochewe in Wester Ross were regarded as prime sporting territories.

Heights of Kinlochewe is said to be one of the country’s most splendid Highland stalking estates with a deer forest which is second to none.

It is located above the north-eastern end of Loch Maree, which offers good salmon and sea trout fishing. A variety of attractive hill lochs, including Loch Fada, offer additional trout fishing.

John Bound, partner with selling agent CKD Galbraith, who specialises in buying and selling estates, said: “It is exceptional that two truly fantastic estates came to the market in such close proximity.

“We have experienced healthy demand for Highland estates this year from both domestic and foreign parties.

“Given the wealth of sport on offer each estate was highly desirable.”

The guide price for Heights of Kinlochewe near Gairloch was set at £2.6million.

Mr Bound said: “Heights of Kinlochewe sold well to a London businessman after a private marketing campaign which attracted considerable interest.”

Skye

For those who enjoy the great outdoors, The House at Duisdale Mor in the hamlet of Isle Ornsay, on Skye, could not be better placed.

Located on the south-eastern coast of Skye, the house overlooks the picturesque Sound of Sleat – a fantastic spot to try sailing, fishing or even diving.

The three-storey house, built in 2002 and designed to capture the best of the views, featured in the Your Home supplement in July.

After being marketed by Strutt and Parker, it sold within a couple of months – a relatively quick time for that part of the world, for more than the asking price.

Kinloss

The Granary Home Farm, Kinloss is a beautifully presented family home close to two sites which played an important role in Scotland’s history.

The house is just a short distance from the ruins of Kinloss Abbey, a Cistercian abbey founded in 1150 by King David I, which received a Papal Bull from Pope Alexander III less than a quarter of a century later.

It went on to become one of the largest and wealthiest religious houses in Scotland, and during its history welcomed many royal visitors including Mary Queen of Scots.

The eye-catching house featured good-sized rooms, and was being marketed by Strutt and Parker who were looking for offers over £325,000.

After about three months on the market at the start of the year, it sold for more than the asking price — quite a confidence boost for the area given the question mark over what was happening to the RAF bases nearby at the time.

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Aspirational places but totally out of the park for the majority of people. Bet the buyers were pretty smug too :)

The top ends doesn't seem to be strugging, but its the same lower down providing a place is desirable and well located.

The city and shire definately seem to be becoming more polarised though.

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Brilliant photography, a real eye for contrast, signed copies ?

Agreed, excellent photays' , not sure I'd invite him/her to my Xmas party tho if that's the best holiday snaps of Aberdeen they can take :o

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You're right can think of a few better areas, but the guys eye for grit and contrast is excellent, really liked the one with the Chapel Street carpark.

My favourite is Norco Hoose, and how its been squeezed in between its surroundings, that and the Craiginches one stand out particularly

Are you sure its Thistle Street ?

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Nice places in Aberdeen are still selling for more than valuation. o/o £249k, valued at £250k but sold for about £257k.

Personally I wouldn't read too much into such an insignificant amount, and would view that as just noise in the numbers. I mean surveys are pretty much a stab in the dark and I believe that too much store is set by them.

Arguably it's the surveyors of the world that are dragging out this standoff by consistently over valuing properties ( to get the business) rather than sitting the sellers down and explaining the harsh realities of the market and how even though johnny down the road got more in 2007, that market has gone, never to return we suspect,

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