Although the report paints a mixed picture of the Aberdeen housing market in the fourth quarter of 2024, there are signs of underlying resilience. The annualised house price change over five years in Aberdeen is 0.8%.

The report highlights that although the first three quarters of 2024 saw modest positive price movements, the fourth quarter saw a more pronounced dip, reflecting a lack of confidence in the local market. The only exception was a slight increase in flat prices in Stonehaven, likely due to a statistical anomaly.

John MacRae, chair of Aberdeen Solicitors’ Property Centre (ASPC), said: “Thankfully, the picture is far from bleak. The reason for my saying that is that sales in 2024 exceeded 2023, in number, and so did insertions. Our local housing market was busier. 

“I did say, last year, that I would rather see activity increasing than prices rising, and I still cling to that opinion. For the moment, it seems that people are selling, people are buying, and mostly at reasonable prices, viewed from each side of the transaction.”

He continued: “Some reinforcement of my view that things are not too bad can be gained from our figures for the first three weeks of January. The early part of each year can be slow to start, particularly if weather conditions are adverse.

“I am able to report that despite the recent snowy weather, our early weeks have seen good levels of insertions, matched by similar levels of sales. It is reassuring to see this, so early in the year.”

Year-on-year comparisons (Q4 for each of ‘24 and ‘23) show:

• 397 flats sold compared to 342, an increase of 16.7%.
• 540 semi–detached houses sold compared to 367, an increase of 47.1%.
• 456 detached houses sold compared to 284, an increase of 60.6%.

Mr MacRae concluded: “Solicitors have long believed that markets are led by detached and semi-detached house sales. The increases in semi – detached and detached sales caught my eye.

Despite disappointing price information things are better than they may appear.”