New road boosts property market in Aberdeen

The Aberdeenshire property market has been positively impacted by the new £1bn Aberdeen Western Peripheral Route.

This has created a fast link for commuters to the north, west and south of the city.

That’s according to new quarterly figures released by Galbraith covering the second quarter of the year (April – June 2019) which shows homebuyers widening their search north and south of Aberdeen.

Hannah Christiansen, head of the estate agency team in Aberdeen, said: ‘Towns now receiving interest from homebuyers include Stonehaven, Laurencekirk, Edzell and Fettercairn to the south of Aberdeen and Balmedie and Ellon to the north, which are all particularly easier to commute from as a result of the AWPR.

‘These areas are allowing buyers to secure a lot more house for their money and are proving popular with people keen to live out with Aberdeen but only a short commute to the city for work, with the likes of Edzell now only being a 30minute drive away.’

The team in Aberdeen brought nine per cent more properties to market this period compared to the previous quarter, conducted 75 per cent more viewings and carried out 88 per cent more market appraisals.

Of those who purchased a property through Galbraith in Aberdeenshire during this quarter, 80 per cent of them were Scottish.

Hannah continued: ‘Over the past three months, we have remained busy with an increased number of market appraisals being carried out and preparing more properties for the open market. Serious buyers are still very much out there and there has been healthy competition for properties across all price brackets. We recently sold a property in the £800K market in Inverurie which attracted a lot of interest and sold within four weeks of being brought to market.

‘As always rural properties with a good portion of land or with useful outbuildings continue to attract a lot of interest from lifstyle buyers and young families alike. We have also had a lot of success with some more quirky properties which offer something a bit more exciting and unique as a home, including an architecturally designed A-frame house.

‘We have noticed a slight slowdown of the market particularly from out of area buyers who are slightly reluctant to commit until Brexit has been finalised. We didn’t witness any Brexit-affect last year but leaving the EU is now a very real situation and with it brings a lot of uncertainty, whether it’s a no-deal Brexit or not.

‘However, for anyone considering selling, particularly in towns showing renewed interest, don’t be put off by Brexit as there is an active buyer market for all types of properties, assuming they are sensibly priced.’

Galbraith handles the sale of residential properties worth £51.7m on average per quarter across Scotland as a whole.