Weak oil price affects Aberdeen Property market

November 11, 2015

The weak oil price is affecting  high end property prices in the north east of Scotland, also the buy-to-let property market in and around Aberdeen, reports suggest that the oil price is likely to remain low over the next five years because of plentiful supply and falling demand.

In a report appearing in Energy Voice,  Adrian Sangster, national leasing director at city law firm Aberdein Considine reportedly said the oil and gas slump, which has seen thousands of highly paid jobs lost in the past year, was having a big impact on the rent landlords could expect to receive.

Aberdeen was unaffected by the property crash in 2008, it continued to have a bouyant property market right up to this year when the oil price weakness became somewhat exaggerated due to over supply.

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

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