The Housing Market in Aberdeen

With affordable housing options, an ample amount of properties for sale and excellent deals to be had, Aberdeen is an incredibly attractive city for first-time buyers.

If you’re hoping to get a better idea of how much it’ll cost to purchase a home in Aberdeen – or if you’d like to know which area of the city is best suited to your budget – this guide has you covered.

From average property prices to the city’s most affordable and expensive areas, here’s everything you need to know about Aberdeen’s housing market.

How Much Will It Cost to Purchase Property in Aberdeen?

Based on the latest data from the Registers of Scotland, the average price of a property in Aberdeen City is £217,826 (as of March 2021).

In the table below, you’ll find more detailed information about the average price per property type, and how much those values have changed over the past year.

The Most Expensive Areas to Buy Property in and around Aberdeen

Topping the list of Aberdeen’s most expensive postcodes is Milltimber (AB13), an upmarket suburb that has long attracted affluent buyers to the region. That being said, it’s worth noting the area within the AB13 postcode bracket has actually seen a drop in prices over the last six months compared to other expensive areas in the city.

Comprised of popular suburbs such as Bieldside, Cults, and Hazlehead, properties within the AB15 postcode area are also among some of the priciest in the city.

Rounding out the top five, the remainder of Aberdeen’s most expensive homes are within three neighbouring postcode sectors: AB31 (Banchory), AB32 (Westhill), and AB34 (Aboyne).

The average property price for each area (based on the average price in 2021) is as follows:

Milltimber (AB13)

— £575,144

Bieldside, Cults, Hazlehead (AB15)

— £395,133

Banchory (AB31)

— £401,898

Westhill (AB32)

— £440,391

Aboyne (AB34)

— £426,320

The Cheapest Areas to Buy Property in and around Aberdeen

The AB16 postcode bracket, which includes the likes of Mastrick, Northfield, and Sheddocksley, is home to Aberdeen’s most affordable options for prospective homebuyers.

Beyond the area in and around AB16, some of the city’s cheapest districts include Macduff and Fraserburgh, two coastal villages located roughly 40 miles north of Aberdeen.

Lastly, two of the remaining top five most affordable postcodes were claimed by the outlying towns of Buckie (AB56) and Keith (AB55).

The average property price for each area (based on the average price in 2021) is as follows:

Mastrick, Northfield, Middlefield, Cornhill, Sheddocksley (AB16)

— £125,371

Macduff (AB44)

— £161,710

Fraserburgh (AB43)

— £267,696

Buckie (AB56)

— £231,575

Keith (AB55)

— £162,005

How Far Will Your Budget Go?

To give you a better idea of how far your budget will go in Aberdeen, we’ve analysed the latest statistics from Zoopla to compare property prices in one of the city’s most in-demand suburbs versus one of its more affordable districts.

If you’re looking to buy a flat in Milltimber — one of the most sought-after locations on the outskirts of Aberdeen — you should be prepared to pay upwards of £245,008. For less than half that amount, you could get a semi-detached house in the nearby village of Fraserburgh (where the current average value for a semi-detached home stands at £185,457).

The Future of Aberdeen’s Housing Market

After years of decline, Aberdeen’s property market is beginning to show subtle signs of recovery.

Property specialists Strutt & Parker are reporting Aberdeen’s property market is currently on the rise — and they’re predicting this upward trajectory is set to continue throughout 2021. The reason behind the growth? Oil prices are rising, jobs are returning, and property prices are gradually rising as a result of increased demand.

Furthermore, many experts are claiming the current market climate in Aberdeen makes it a fantastic time to buy. In an article published on BBC News in late 2018, Robert Fraser, senior property partner at Aberdein Considine, stated, “If history is to be repeated, then people buying at the moment are likely to see a substantial return on investment over the next five to ten years.”

In short, it’s currently a buyer’s market in Aberdeen and a great time to snap up property.