House prices in Aberdeenshire continue their upwards trend

House prices increased in Aberdeenshire by 1.7 per cent in November – more than the average for Scotland.

Wednesday, 27th January 2021, 6:22 am
House prices in the north east increased in November last year.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve two per cent annual growth.

The average Aberdeenshire house price in November was £184,987, Register of Scotland figures show – a 1.7 per cent increase on October.

Over the month, the picture was better than that across Scotland, where prices increased 0.9 per cent, and Aberdeenshire outperformed the 1.2 per cent rise for the UK as a whole.

Over the last year, the average sale price of property in Aberdeenshire rose by £3,700 – putting the area 30th among Scotland’s 32 local authorities for annual growth.

The best annual growth in the region was in East Ayrshire, where property prices increased on average by 15.6 per cent, to £110,000.

At the other end of the scale, properties in Aberdeen lost 3.4 per cent of their value, giving an average price of £141,000.

Owners of detached houses saw the biggest improvement in property prices in Aberdeenshire in November – they increased 2.2 per cent, to £261,196 on average. Over the last year, prices rose by 2.6 per cent.

Among other types of property:

• Semi-detached – up 1.3 per cent monthly; up 2.2 per cent annually; £162,074 average;

• Terraced – up 1.5 per cent monthly; up 2.4 per cent annually; £133,986 average;

• Flats – up 1.1 per cent monthly; down 1.4 per cent annually; £99,277 average.

First-time buyers in Aberdeenshire spent an average of £146,600 on their property – £2,600 more than a year ago, and £12,600 less than in October 2015.

By comparison, former owner-occupiers paid £211,700 on average in November – 44.4 per cent more than first-time buyers.

So, how do property prices in Aberdeenshire compare?

Buyers paid 11.6 per cent more than the average price in Scotland (£166,000) in November for a property in Aberdeenshire. Across Scotland, property prices are low compared to those across the UK, where the average cost £250,000.

The most expensive properties in Scotland were in Edinburgh – £287,000 on average. That’s 1.6 times as much as in Aberdeenshire.

The highest property prices across the UK were in Kensington and Chelsea, where the average November sale price was £1.5 million.