Aberdeen homeowners saw the value of their properties rise by an average of 9.2% during 2014, new figures show.
According to Aberdeen Solicitors’ Property Centre (ASPC), the average price for a standard detached house in the Granite City at the end of the year was £351,569.
Semi-detached properties and flats were on average worth £230,621 and £166,404 respectively, it said.
Prices across all three categories were down from the previous quarter, which is not unusual for the region at the tail end of any year, ASPC chairman John MacRae added.
But while the value of homes in Europe’s energy capital grew faster than the UK average of 7.8% last year, the pace of growth lagged behind the Scottish figure of 12.8%.
And a decline of 1.5% of Aberdeen in the final quarter, compared with the previous three months, contrasts with 4% growth across Scotland and an inflation-beating 0.3% increase throughout the UK.
Homes in Stonehaven grew by 11.4% in value last year after a 1.4% decline in the final quarter,
Inverurie saw growth of 9.8% during the whole of 2014, held back by a 1.4% slide in the last three months.
Ellon bucked the final quarter north-east trend, with the value of homes up by an average of 0.2% – boosting the commuter town’s annual increase to 8.1%.
Standard detached homes in Ellon were worth £275,995 by the end of 2014, while in Inverurie and Stonehaven these houses were selling for £302,684 and £350,032 respectively.
Semi-detached homes and flats in Ellon, Inverurie and Sonehaven were fetching £180,592 and £140,996, £217,454 and £146,725 and £225,420 and £148,141 respectively.
ASPC said its latest figures, compiled with the help of Aberdeen University’s business school, also showed volume sales in 2014 were similar to those of the year before.
Mr MacRae added: “Both years have shown a return to levels of activity not seen since before the banking crisis.
“The fourth quarter figures for 2014, showing a small decrease in the average price in the city and suburbs compared to the third quarter, are generally in line with what we expect.
“In fact, the small percentage decrease is relatively insignificant.
“Anecdotally, most solicitors selling property in this area felt that the fourth quarter was slightly busier than in recent years and the start of this year has seen fairly prompt recovery in (new homes for sale) insertions to the centre.
“It is possible that the higher end of the market may be more active before the current regime of stamp duty land tax changes to land and buildings transaction tax.
“It will be interesting to see how the first quarter of our local market behaves.”