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30/07/2013

Aberdeen House Prices 'Increasing'

Aberdeen's housing market has returned to a level it has not reached in years, according to the Aberdeen Solicitors' Property Centre (ASPC).

The figures from the ASPC, reported by the BBC, suggest prices for the second quarter of 2013 were 5.4% higher than the previous quarter, while the number of flats sold increased by more than 50% over the same period.

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John MacRae, Chairman of ASPC's Board of Directors, is quoted by the BBC as saying: "The increase in funding from mortgage lenders is one factor affecting the market."

He added that the statistics revealed the city's market was starting to show the first signs of activity "of a kind not seen for several years".

"While the increase in activity is welcome, there is some concern that these figures, if maintained over several quarters, could lead to overheating in the market," he added.

(JP/CD)

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