2024 property predictions

It’s a question we hear all the time – from homeowners and speculators alike: is this a good time to sell?

Whilst we don’t have a crystal ball, we do have 15 years experience and our ear to the ground for all news and updates regarding the property market. So, as we look ahead at 2024, here’s Laura and Ali’s predictions for the Aberdeen city and shire market:

“Compared to other areas, the Aberdeen sales market has – on the whole – bucked the trend with prices in both city and shire increasing over the last 12 months rather than dipping.

The Outlook for Aberdeen’s Housing Market in 2024

We anticipate a surge of properties for sale in spring as many of the buyers and sellers who have sat tight watching in the market and mortgage rates in 2023, ready themselves to take the next step in the new year.

Within this time, first-time buyers have saved a bit more, families have grown and the mortgage and interest rates have settled, becoming the new norm.

We believe that this will create a slight increase in the local market house values in 2024 and we expect a 1-2% increase in values as a whole.

Properties in modern and read-to-move-in condition are the most sought after from first-time buyers and buyers that are upsizing, and they achieve a higher sales price compared to those that need upgraded.”

Are you looking to sell your home this year? Why not try our free home valuation tool, or contact us to discuss about the specifics of your home and area.

Aberdeen: 01224 218450 | Inverurie: 01467 530591
Aberdeen: aberdeen@northwooduk.com | Inverurie: aberdeenshire@northwooduk.com
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