Volume of sales in Aberdeen up 2.7% in Q3
The sales volume of detached houses in Aberdeen increased by 6.7% in quarter 3 of 2016, according to a report from Aberdeen Solicitors’ Property Centre (ASPC) in conjunction with the Centre for Real Estate Research, University of Aberdeen.
In total, the volume of sales, for all house types, was 1,303, an increase of 2.7% from the previous quarter.
However, this is a decrease of 23.6% compared to the volume of sales a year ago, in quarter 3 of 2015.
This decrease year on year comes as no surprise to those living in the area.
We are seeing evidence of the downturn in all aspects of life in the North East, pretty much, and the housing market is no exception. Volume of sales is running just above 70% of the level of previous years, but the increase from Q2 is a hopeful sign.
Our market is still functioning, sales are being completed and, occasionally we have closing dates. Sellers are, in the main, being realistic.
It is also worth noting that purchasers benefit from low interest rates – as well as the reduced cost of properties in the region.
There are bargains to be had and builders are offering incentives.
It is more important than ever to have the benefit of good advice, from your solicitor, at the outset, to plan the sale in advance, to attend to any small blemishes to make your property as attractive as you can and to use the marketing power of ASPC. Site traffic is holding up well and we introduced new features throughout the year to assist the public, sellers and buyers.