Top end of Aberdeenshire property market gains momentum

The Aberdeenshire property market has taken positive steps throughout 2018 according to property consultancy, Galbraith, which is reporting its findings for the third quarter of the year.

The number of top end property sales completed by Galbraith in Aberdeen for the quarter ending 30 September 2018 rose by 40% in comparison to the preceding quarter.

Although it still remains challenging for some sellers across Aberdeen and Aberdeenshire, there are good opportunities for those looking to buy, with prices more realistic than in stronger markets.

Due to this increased buyer confidence, the number of viewings conducted by Galbraith in the region was up 4% during the three-month period compared to the same quarter of 2017.

The average price achieved for properties sold by Galbraith in Aberdeen during the quarter (July – September 2018) was £410,438, up from £362,145 for the same period in 2017. The average time taken to sell residential properties by Galbraith in Aberdeenshire reduced significantly this quarter compared to the previous quarter.

In addition, 21% more market appraisals were carried out than this time last year.

Scottish buyers accounted for 64% of property sales in Aberdeen this quarter with 29% of buyers from the rest of the UK and the remaining 7% international buyers.

Hannah Christiansen, head of the estate agency team in Aberdeen, said: “Galbraith Aberdeen has certainly had an exceptionally busy year for both new properties and sales. This is a positive move in the right direction for the Aberdeen property market and we are confident this is going to continue as more buyers seize opportunities and sellers remain realistic.

“Giving honest advice and guidance to all our clients means we have seen good results and we are confident that 2019 will continue in this manner. Properties in the £300,000 – £450,000 bracket have sold well and a property priced close to £1,000,000 achieved a strong offer after only been on the market for three weeks, further highlighting the strength of the market.”

Galbraith has a network of eleven offices throughout Scotland, handling residential property sales worth £54 million per quarter. The firm also manages and sells rural estates, farms, smallholdings and land. The Galbraith rural team provides advice on over three million acres of land throughout the country.

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