A strong market
Published:
COMPANIES in the Aberdeen area are finding it difficult to recruit due to skills shortages, and the buoyant property market is not helping, either.
House prices in the north-east continue to rise and so, too, do concerns of the business community about a shortage of affordable housing.
It is easy to understand why young professionals from elsewhere in the country may look at Aberdeen property prices and be concerned about getting on the north-east property market.
One recent report said that property prices in three towns in the area were rising at the fastest rates in Scotland.
The average price of a home in Montrose jumped by 39% between 2006 and 2007, from £123,494 to £172,156 – the largest rise in Scotland.
The second highest rises were in Peterhead, where house prices shot up 33%, from £118,483 to £156,875. Inverurie had the fourth-highest increase, behind Greenock, rising 28% from £179,316 in 2006 to £231,623.
Overall house prices in Aberdeenshire rose 21%, from £173,519 on average to £210,022.
In Aberdeen, there was a smaller increase of 18%, from £172,072 to £202,785.
However, for many people in the north-east, salaries are also higher in comparison with most of the rest of the UK and there are initiatives being put in place to provide more affordable housing.
The principal aim outlined by an Aberdeen City and Aberdeenshire structure plan is to development 72,000 new homes in the region in an attempt to increase the population and develop business opportunities – increasing the region’s population by 40,000 to as much as 500,000 by 2030.
This is forecast to have a positive effect on the local economy by encouraging more businesses to open in the area.
Aberdeen has a lot to offer and continues to be a thriving place to live and work.
Julie Rowson is a director with solicitor and estate agent Rowson & Associates
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