As a landlord, whenever you are looking at houses for sale in Aberdeenshire, you could find varying prices throughout an area like Aberdeen. In this article, this data will be simplified so you can find all of the data on one, convenient page.
So, from the rental yield of Aberdeen to the success you may expect to get when submitting planning permission. Everything you need to know about house for sale in the UK and in Aberdeen will be revealed. Keep reading.
In general, what do houses for sale sell for in Aberdeen?
There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Aberdeen. In Aberdeen, this sale price works out to be £160,179. As an example, a factor like population growth over the last 10 years which works out to be 4% in Aberdeen and impacts house prices of the houses for sale.
| Housing category | Total final sale price |
|---|---|
| Average sold price (detached) | £288,919 |
| Average sold price (semi-detached) | £205,498 |
| Average sold price (terraced) | £188,288 |
| Average sold price (flat) | £114,132 |
Above, the exact type of house is also shown to vary in price in a table in Aberdeen. You may think that the bigger the house is the more expensive, but actually, this table is more based on the demand for the properties in each category.
| Housing category | Sale price per square foot |
|---|---|
| Average sold price/sqft | £1,871 |
| Average sold price/sqft (new build) | £1,730 |
| Average sold price/sqft (old stock) | £1,947 |
In addition, here is the price per square foot. By taking this data and doing an average, it is also possible to work out the average square foot of houses in Aberdeen which is £1,871. From here you can get a sense of the price of the overall housing market and therefore, also find out the prices of the houses for sale.
What are the people like in Aberdeen?
What does the population of Aberdeen look like?
In total, the number of people in Aberdeen is 252,905. This figure can be used to estimate the appreciation of the houses but it is also important you look at the population growth figure in order to make this more accurate.
Whether a large population benefits you as a landlord is dependent on what you want from a home. A large population is great if you have children who prefer the bustle of crowds in cities but there are also those who purposely want to buy somewhere rural.
You may also be able to find a balance of both where there are shops, restaurants and entertainment and also rural areas all within a short distance which may be the case ni Aberdeen, depending on where exactly you are.
How has Aberdeen changed in the past five years?
Five years provides enough time for a city to grow dramatically. It may be the case that the population grows or shrinks but the city of Aberdeen has changed by -1%. Read more here
It is also helpful to compare this data to a longer time period like 10 years like in the below subheading. If the population trend of growth or decline has been there for a longer period of time you’ll be able to tell if -1% is a recent change or not.
Click here to know more on the UK population trends.
In the last decade, what is the difference in population in Aberdeen?
4% has been the population growth change in the past 10 years.
Usually, this is more of a conservative figure compared to the five year change of a city.
Industrial changes can also be the reason for this shift but it could also be due to immigration or emigration. Bringing people in or out of the area.
The recent global pandemic has also shifted the number of people living in cities as people realise they can now work remotely. It may be that the people of a Aberdeen have seen a more desirable way of working, moving to make themselves more comfortable in their careers.
For example, the population of the South west of England has seen a massive increase in population because workers want to move there to benefit from the slightly better weather, lower house prices and also the rural area. Nonetheless, they can also benefit from travelling to the capital city of the UK, London.
Is the crime rate bad in the city of Aberdeen?
In Aberdeen, for every 1000 people, there is currently a crime rate of 2. This can be compared to the national average of 79.52 for every 1000 people.
Low crime rates are desirable for your safety as a homeowner. Even if you don’t tend to leave the house too often and tend to not mind living in a slightly more dangerous area. Things like burglaries are always a possibility which could harm your ability to pay for home insurance and also may force you to install additional security in your home that can cost you further.
Having said this, you can look at the crime rate on a deeper level to find out what the threats are exactly. It could be the case that a proportion of these crimes (2 for every 1000 people) come from things like anti-social behaviour rather than more serious crimes like violence and sexual offences.
If this is the case you may be more willing to look over a high crime rate within the areas you’re looking to buy a home.
How deprived is the population of Aberdeen?
Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Aberdeen, currently, 26% people fall into this category.
Measuring this statistic against the nationwide average of 33% should give you a pretty good idea of where the city lies in the scale of poverty in the area.
The city of Aberdeen, situated in Aberdeenshire, is a particularly impressive part of the UK because of the specific demographics of the location.
In the below headings, the city of Aberdeen and its demographics will be compared to its wider location (Scotland). This includes population size, growth and population education now and into the future.
These statistics are heavily influenced by socio-economic factors and as a result this also shapes the projected house price of the houses for sale in Aberdeen. So, taking a good look at the data is essential to understand the area you are considering to buy in.
What’s a social grade score and how does it relate to Aberdeen?
In the city of Aberdeen, the social grade score of the area is no relevant data for this city. But what does this exactly mean? The figure refers to the proportion of people in the two highest categories of skilled jobs.
The categories are grouped from A to E shown in the table below. Overall, a high social grade score means there are more affluent people working in managerial and professional roles in the area.
This table shows the average breakdown of the UK in terms of where most people in the UK are working so you can compare it to the social grade score of Aberdeen.
| Social Score | Category | The proportion of the UK population (%) |
|---|---|---|
| A | Professional, managerial or administrative | 4 |
| B | Intermediate managerial or professional jobs | 23 |
| C1 | Supervisory, junior managerial or professional jobs | 29 |
| C2 | Skilled manual workers | 21 |
| D | Semi and unskilled manual workers | 15 |
| E | State pensioners, casual & lowest grade workers | 8 |
For the city of Aberdeen, what is the education level?
Interestingly, the percentage of people who have a degree in the city of Aberdeen is 25%. Most of the time, the more people that have a degree, the higher the average household income and the more likely someone is to be able to afford to purchase a house. For example, the average income of the citizens in the area of Aberdeen is no relevant data for this city.
Generally, areas with high numbers of people with a degree are also areas with more people likely to be home owners and therefore the value of houses and relative prices of the houses for sale are more likely to go up too.
Nonetheless, making predictions about the appreciation of a house also has to be considered alongside other factors like population growth and the rental yields of the area.
However, most of the time, being educated is a good indication of affluence with 82% of people graded a first in tertiary education going on to eventually own a house.
Do the people of Aberdeen get to enjoy green space?
In the city of Aberdeen, there are 20.0 acres of green space per 1000 residents.
The charity, ‘Fields in Trusts’ recommends a minimum of 6 acres of green space per 1000 people so it is easy to see where Aberdeen is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.
How much are those living in Aberdeen earning?
As earning potential goes up in a city, so does the quality of schools in the area, the general infrastructure and the social grade score (no relevant data for this city). All in all, the area becomes a more desirable place to live in.
This is why it is vital to pay attention to how much people are making annually in any city you plan on making a house purchase in. In Aberdeen, this works out to be no relevant data for this city. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.
Always consider average rental yield when searching for houses for sale in Aberdeen
Is the housing market in Aberdeen growing?
Before committing to Aberdeen to make a housing investment, an investor should always ask the question, what is the growth like in the area?
So take a look below at the growth patterns of the previous years displaying the percentage of new houses being built. This will help you understand how the number of houses for sale will evolve in the future.
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Aberdeen growth rate | 1% | -6% | no relevant data for this city |
Whether housing growth actually changes the price of a house depends on if the city in question is outstripping demand with the supply of new housing. You’d have to do some more research on what rate Aberdeen is building housing to find your answer.
Assuming you are not looking for a house for sale in a certain area because of private reasons such as being close to a family member or you have been relocated to a new office, these are some of the factors to consider in order to understand if an investment is worth your money.
Investors typically look at data such as the average rental yield, the average asking price of rent per month, rent turnover and sale turnover. These KPIs give property investors a solid idea of how the market is performing in that area.
For the city of Aberdeen, the below table demonstrates this well. To make things simple, it compares these numbers to the wider region of the UK; Scotland. As well as Aberdeenshire, to give a smaller scale area to compare the data to.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Aberdeen | 6.4% | £759 | 125% | 82.0% |
| Aberdeenshire | 6.03% | £792 | 125.40% | 81.91% |
| Scotland | 5.48% | £871 | 125.36% | 59.40% |
Assuming that in the future you want to re-sell the house you will eventually purchased in Aberdeen you might be interested in the number of sales per month (423) that happen in the local housing market. Comparing this figure for Aberdeen with the above table gives you a good understanding of the profitability of the area.
What are the asking prices for the houses for sale in the city of Aberdeen?
The average asking price for the houses for sale in the city of Aberdeen
| Average asking price (1 bed) | £70,432 |
| Average asking price (2 bed) | £115,765 |
| Average asking price (3 bed) | £202,093 |
| Average asking price (4 bed) | £353,295 |
| Average asking price (5 bed) | no relevant data for this city |
After looking at this table about prices of houses for sale in Aberdeen, someone who is buying a home would be able to know in great detail what kind of house for sale available on the market best suits the amount of money they are looking to invest. Also, using a more general figure like the average asking price per square foot of a property which is £0 will help them to have a more wholistic understanding.
When investors make offers for houses for sale in Aberdeen, the average price asked by the homeowners works out to be £177,188.
In the table below, for all the different sizes of houses in the area, the average asking prices have been displayed. This tells you what kind of house is more or less expensive and sought after despite houses with fewer bedrooms being overall less expensive anyway.
Any house that looks like it is overpriced for the number of bedrooms it has in Aberdeen is typically not overpriced. It is just the case that that type of housing has a higher demand, therefore, people are willing to pay more.
Advice from experts on properties for sale in Aberdeen
A house for sale that is right for you
Criterias that have an impact on the actual price of a house for sale have been listed here below. Consider them all to find the perfect houses for sale in Aberdeen.
- Affordability – check this article from the UK government to find out (see what house for sale you can afford)
- Location – if the house for sale is in the city centre rather than further out, this may be why it is more expensive than the market average.
- Transports near the house for sale – Being able to use public transports is a huge plus for a house, especially in big cities. This will have an impact on the price as well.
- Bedrooms – the more bedrooms there are in a house for sale, the more tenants a buy to let investors will be able to host, therefore, realistically the price will also increase.
- EPC of the house for sale – today more than ever, the energy performance of properties for sale on the market should be one of the first things you check.
- Wi-Fi speed – We recommend you check the internet plans available for the areas where you are considering to buy a house for sale
- Are you a motorist? – If yes, filter out your searches and compare prices of houses for sale with parking availability. Remember, a car parking space can cost as much as £400 per month
- Conditions of the house for sale – New builds and properties that were recently built usually need little to no repairs; instead, other houses for sale may require consistent or structural maintenance. These investments that can be both expensive and laborious to complete. Before making your offer for a house for sale you should always carefully assess this criteria.
Thinking about other cities with houses for sale?
We have prepared a list of cities in Scotland, the same UK region of Aberdeen that can help you evaluate the different houses for sale listed in the region:
- Ashiestiel in Scotland
- Bellochantuy in Scotland
- Abercrombie in Scotland
- Ardo in Scotland
- Bucklerheads in Scotland
Alternatively, you can visit our webpage dedicated to houses for sale in the UK, houses for sale in the UK.
Considering all the above data and information provided, you may want know who can help you buy a house for sale.
Lots of professionals offer property investors and first-time buyers advice and assistance in dealing with the process of acquiring a house for sale.
Below, you can find a list of professionals that come in handy when looking for houses for sale:
- Lender – Is someone capable of lending you the money you need to complete the purchase of the house for sale
- Insurer – Insurance companies provide building insurances and other financial products you need to protect your real estate assets
- Conveyancer – This professional will take care of the legal work needed when looking for a house for sale
- Surveyor – Use this professional to assess the condition of the house for sale you are willing to buy, get an independent valuation and feel more comfortable when negotiating the final price
- Mortgage broker or adviser – Different buyers can access different mortgages to buy a house for sale. Let the mortgage broker suggest to you which one is the best given your financial situation
- Energy professional – Nowadays is more important than ever, to get professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering as your next investment
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