Experts 'surprised' to see Aberdeen house prices rise in latter stages of 2020

Experts have expressed their surprise after Aberdeen house prices rose in the final quarter of 2020 - bucking the normal trend.

A report, based on data from ASPC and Aberdeen University’s Business School, showed prices went up by 3.3% on the previous quarter.

Year-on-year prices also went up, by an average of 4.9%.

John MacRae, chairman of ASPC, said: "In 2020, we have seen the fourth quarter produce the unexpected results of positive movements, this is a surprise to me, and a rather welcome one.

"Let me hasten to dampen speculation that this may herald a return to rising prices – I think the figures may be reflecting a particular set of circumstances rather than a trend.

"As we all know last year was very difference with an almost complete cessation of activity from late March until mid-summer, because of lockdown.

"After lockdown ended, our market recovered quickly and activity was at a high level, presumed to be solely down to a 'catch-up' effect.

"While sales were at a healthy level, we did not think prices were affected to any great extent."

Over the last five years, prices have still dropped by 3.7%.

Mr MacRae added: "One thing that was noticeable in late 2020 was that properties coming to market that sold well, were presented well. ‘Staging’ a property is now more important than ever.

"Sellers should take the time and make the effort to plan their marketing, taking time to assess weak points, and where possible, address them.

"In the last quarter of 2020, those properties that were well presented sold close to, or at, valuation."