Thursday, January 24, 2008
Bubble bubble bubble ble ble ble ble… pssssssss… bbbang!!
The average house price in Aberdeen in the fourth quarter of last year fell by 4% to £199,589. Overall, however, the average price rose by 26% to £202,479 over the year. The latest research by Aberdeen City Council shows that 8,594 properties were sold through in 2007, 3342 more than the previous year. Whoooopp! In 1997 the price/earnings ratio for Aberdeen was 3.72 and is now 7.83. The corresponding rises for Scotland are 3.38 to 6.12 and for the UK 3.58 to 9.19 (so sustainable!!). The average price of a detached house in Aberdeen's west end over last year was £675,450. Sure, sure... bbbanngggggg!!!