The property market in Aberdeen and the surrounding area is shaped by a variety of local and national factors. This page brings together the latest property prices, housing market trends and Savills insights, providing an overview of market performance and helping you better understand the residential landscape in Aberdeen.
Aberdeen property prices at a glance
Aberdeen house price trends
Prime market activity in Aberdeen remains relatively resilient, despite a backdrop of higher mortgage costs, inflation and wider economic uncertainty. Needs-based moves, in particular, continue to underpin transactions.
Demand from committed buyers continues to be strong for best-in-class, realistically priced homes. However, as buyers remain price sensitive, aligning expectations is key in today’s market.
Across prime Scotland, urban markets continue to outperform their rural counterparts, with marginal price growth so far this year driven by a greater commitment from those with a specific reason to move and stock constraints in certain markets. With lifestyle opportunities and exceptional homes, Aberdeen continues to be an attractive location for buyers.
Will house prices rise in Aberdeen?
The outlook for the prime property market is dependent on various political and economic factors. Inflationary pressures are likely to continue building, increasing the pressure on the Bank of England to raise the base rate over the coming months. Either way, mortgage rates are expected to remain elevated for the rest of this year and into next.
While these influences will continue to drive sentiment, they won’t completely overrule the underlying motivations that drive people to move, as has been evidenced during the past year.
Prime regional markets will continue to be driven by motivated, needs-based buyers. But price sensitivity is likely to persist, particularly given the exposure to higher borrowing costs. Quality is still a key focus and so best-in-class properties will remain the most resilient.
The prime markets of Scotland are expected to outperform, as a result of generally lower values and less reliance on mortgage debt.
Over the longer term, an improving economic outlook and market sentiment will lead to a gradual recovery in values. As a result, we are forecasting price growth of 23.3% across prime Scotland over the five years to 2030.
