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Randall Herbert

Aberdeen Market Update

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Aberdeen Solicitors Property Centre, a shop window and local property paper for local solicitors and EA's has just introduced "by popular demand" a section for fixed price housing!!! Nice spin guys.

Err.....Is that because there is an awful lot more 'fixed price' housing on offer in Aberdeen of late? Yep.

FYI: 'fixed price' in Scotland means that you can offer just that and expect to close the deal. Very rare usually to find a fixed price deal especially in Aberdeen, certainly not a habitable property.

Usually its offers over in Scotland, which means you blind bid 10, 20 30 40..100% over the 'asking price' to secure the 'Stewart Milne' matchbox of your dreams.

You only go 'fixed price' in Scotland when you can't sell. Its a red flag that your property has been on the market for months and you are desperate to sell.

Edinburgh and Glasgow went fixed price big style months ago, Aberdeen lagged for a while.

Prices stagnant in Aberdeen in the bulk box market and looking decidedly dodgy all round now.

Not a good time to sell your property to finance a BTL scheme. There are a LOT of new build 'luxury/Executive/Penthouse newbuild flats for (still) sale and they're not shifting at the outrageous prices that our slap head local merchants are asking.

Fancy that?

Is it possible to buy a standard flat these days which isn't mew's, penthouse, executive or luxury? Does a standard new build flat come with a toilet?

Welcome to the CRASH Aberdeen.......again

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Everything is ridiculously overpriced isn't it?

Yes, but they are still selling for the money. Well in my price range anyway. Slower, definitely slower, and many more sales falling through, but still coming on at daft money and finding buyers eventually.

Much better than last year though. I used to trawl the sites and make notes of all the ones I was interested in at the weekends. Then used to phone on Monday morning and cross them all off one by one. Sold, Going to closing 26 notes of interest etc etc. It was an absolute nightmare and has cost me a fortune in solicitors and surveyors fees. Anybody thinks the Scots system is better needs their head looking at.

The English system is still carp as well though!

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I'm curious about Aberdeen. It's essentially a one industry town that's based entirely on oil (and natural gas?). Oil prices are booming, so you'd think oil wages in Aberdeen were also booming.

When on holiday in Norway earlier this summer, people were saying that their house prices roughly followed the trend in oil prices - especially in oil towns like Stavanger.

Wouldn't the same apply to Aberdeen? I would have thought that Aberdeen was one of the few towns that would survive a housing crash (so long as oil stayed expensive and in demand).

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You are right Anthony.

There is still money in Aberdeen and it's sustained house prices up there.

I don't know about any other type of property because I am looking for something very specific but in my search I have found that even if they aren't buying them as first residences they are buying as second or holiday homes.

Plus builders are hard to come by and very, very, expensive due to the property boom.

Something must be happening though if the ASPC are putting on Fixed Price properties. They don't do that in Scotland unless they have to!

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  • 301 Brexit, House prices and Summer 2020

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