15 Feb 2016

Surge in demand for homes up to £250,000

Surge in demand for homes up to £250,000

 

Aberdein Considine is experiencing significant demand for properties worth up to £250,000 due to a rise in first time buyers entering the north-east property market.

The firm currently has more than 1,300 buyers actively looking for a home priced up to quarter of a million pounds.

That figure increased further over the weekend as more people took advantage of a 50% legal fee discount currently being offered to young buyers.

Areas such as Dyce, Ellon, Peterhead and Stonehaven remain in-demand with those taking their first steps on to the property ladder - resulting in a growing need for new properties in these areas.

'Resilient' Aberdeen and Aberdeenshire market

Senior Property Partner Bob Fraser said that despite bigger homes taking longer to sell due to the drop in oil prices, the rest of the market remains "robust".

He said: "If your home is worth up to £250,000, then now is a good time to consider selling, as there is significant competition for properties in this price bracket.

"It has been a number of years since we experienced a first time buyer market like this, which is very encouraging.

"Property price growth has slowed in the north-east over the past 12 months - and together with low interest rates, this has given first time buyers a fantastic window to enter the property market."

He added:"There are also a number of landlords and investors in the market looking to buy before the additional LBTT tax on second homes comes into force in April.

"Again, they are typically looking for homes priced up to £250,000."

Book a free valuation

If you are thinking of selling, you can book a free valuation with your local Aberdein Considine branch by calling 0333 0066 333 or by clicking here.

Details of the 50% discount for first time buyers can be found here.


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