Property in Aberdeen Most Expensive in Scotland
Aberdeen is the most expensive market for homes in Scotland and all of the UK outside London and the Southeast region, according to a recent article in the Telegraph. Aberdeen’s AB13 postcode, which includes the suburb of Milltimber, has an average home value of over £420,000. The city’s West End is not far behind that, while Edinburgh, often viewed as Scotland’s priciest city, only averages a shade over £340,000 for its homes.
Aberdeen, which has just over 200,000 residents, has become a property hotspot due to its location as an energy center. There are some 400 international companies doing business in the city, many of which are associated with the oil industry. Companies such as Shell, BP and Total are some of the largest employers, but there are plenty of other firms that do business with those companies but are not necessarily oil and energy firms. Management consultants, lawyers, accountants and even international hotels are all making their mark in this northern outpost.
Judith Thorpe, an Englishwoman who moved here 14 years ago, is quoted in the Telegraph saying that “People don’t expect the place to be as sparkling, cosmopolitan and multicultural as it is.”
A survey commissioned by the Royal Institution of Chartered Surveyors, or RICS, shows that oil companies and related jobs have helped to push up the average price of homes across the city, and not just in the high-rent neighborhoods. The Aberdeen Solicitors’ Property Centre indicates that property prices fell in the first quarter of 2009, but are rising once again.
© Housing Market News by The Little House Company
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