House sales increase for first time in three years

House sales across Aberdeen and Aberdeenshire are on the up for the first time in three years as the region emerges from the oil slump.

Exclusive new figures showhouse sales across the region have risen by nearly 7% in the first 10 weeks of the year – with £2.7million worth of property being sold every day.

More than 1,000 homes, worth a total of £204million, have changed hands in the first 75 days of 2017.

That figure is up from 940 last year, according to the data from the ASPC – signifying the first growth the market has shown since the oil crisis struck. Last night, the north-east’s largest solicitor estate agent, Aberdein Considine, confirmed the market had been showing signs of recovery since the beginning of the year.

The firm’s senior property partner Bob Fraser said the spring market was “noticeably busier”.

“While we are still nowhere near the levels we saw immediately before 2015, the market is certainly picking up,” he said.

“We are seeing quick sales and, perhaps more importantly, competition for properties, which has even led to some closing dates being set in recent weeks.”

MrFraser said properties were now selling more quickly, and that in some areas, such as Westhill, the average time from “on the market” to “under offer” had fallen to just 15 days.

He added: “New stock is now urgently required in the town, a position we haven’t been in since the oil crisis began.”

However, despite the rise in sales, average prices in the region are still falling.

The average pr i c e achieved on the 1,002 sales between January 1 and March 16 this year was £ 203,725, compared to £207,017 for the same period in 2016.