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The Late Spring/Early Summer Property Market in Aberdeen
14th April 2008

The Late Spring/Early Summer Property Market in Aberdeen
An insight by Kevin Davison, principal partner at K.W.A.D


Well now, what are the prospects going to be like for buyers and sellers alike during this period?

2008?s early year activity went as expected, with first time buyers returning to the market in January and concluding deals quickly, which then in turn allowed those selling to make offers on properties further up the ladder.

By the start of March, most properties which had been sticking for 4 or 5 months, as a result mainly of the credit crunch, were seeing SOLD signs being put up outside them.

The late Spring/Early Summer period is traditionally the busiest time in the property market with a large number of prospective purchasers starting to seriously look for a new property.

This year should be no exception.

However, I don?t think the funny money being bid over the asking prices of last year should be as prevalent, due to the fact that those people bidding, may not have as much in their pockets as people last year did, who were selling early on in the year for vast sums over their asking price.

A sense of realism returned to the market early this year and we should see that continue throughout this period.

The exception may be properties in the £500,000+ bracket where there may still be a lack of supply and competition will be fierce amongst oil related high rollers.
Expect to hear about prices of at least 30% over asking price being achieved in this sector.

For further information about buying or selling in Aberdeen call Kevin Davidson on 01224 656330.

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