Slump in Aberdeen house price and property transactions

The number of property transactions taking place in Aberdeen fell in the first three months of 2025.

The latest figures from Aberdeen Solicitors Property Centre (ASPC) show property prices in the city were down 1% in the first quarter of 2025, compared to the previous three months.

Looking longer term, the average house price is down 1.4% compared to a year ago.

But it wasn’t all bad news with the average sale of detached homes in Aberdeen rising to £321,330, nearly a £3,000 increase during the same period.

However, despite the differing figures, ASPC chairman John Macrae has described the first quarter results as “grounds for optimism”.

Aberdeen property market ‘achieving stability’

In the first quarter 1,120 residential transactions took place – a decrease of 19.6% compared to Q4 in 2024. However, it was a 16.7% rise compared to the same period last year.

Mr Macrae said: “Last year was an interesting year as we began to see a steady improvement in the number of transactions.

“This gave me hope that our local market might be achieving stability. It is very encouraging to see the first quarter of 2025 performing better than the first quarter of 2024.

“Given all that has been happening in the wider world, the first quarter results for our housing market are grounds for optimism.”

The price of a typical flat in Aberdeen decreased from £119,886 to £118,449 between the fourth quarter of 2024 and first quarter of this year.

Semi-detached properties in the city also decreased from £184,413 to £182,495.

How did surrounding areas perform?

• Inverurie saw the average price of a detached home decrease slightly from £315,461 to £312,643 and semi-detached properties fell from £181,676 to £180,501. Flats increased from £125,556 to £125,648.
• Prices in Stonehaven had a mixed bag, with the average detached property decreasing from £320,577 to £315,904. Semi-detached properties increased from £175,944 to £181,018 and flats decreased from £135,289 to £131,035.
• Figures in Ellon show the detached market decreasing from £267,979 to £262,036. Semi-detached homes fell from £162,530 to £159,020 and flats showed a decrease from £102,306 to £109,103.
• Properties classed as countryside all showed decreases. The average price for flats went from £106,221 to £102,043 semi-detached homes £178,967 to £174,119 and detached houses £338,643 to £327,688.

Aberdein Considine partner, Laura Considine, said: “We have certainly noticed an increase in volume levels since the start of this year.

“The house price change in the report remains in a negative position but it is great to see this moving in the right direction.

“Drilling down into the report, there are signs of a positive price change particularly in certain areas.

“Indeed, both the Stonehaven and Inverurie areas are reporting overall price increases compared to this time last year.

“With a greater volume of sales, we can expect to see a bit more competition for properties which should in turn lead to a positive movement in price.”