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.

You May Also Enjoy

Breaking News

NPPF review is a chance to fix planning, build homes, restore wildlife and help SMEs

The latest National Planning Policy Framework (NPPF) unveils an ambitious package of reforms designed to speed up the planning process and make smaller sites more viable. This includes trimming environmental regulations and cutting Building Safety Levy on smaller sites, as well as providing more funding to local authorities to process planning applications faster, whilst taking…
Read More →
Letting Agent Talk

Five key tax mistakes made by landlords

By Allison Thompson, National Lettings Managing Director, Leaders Landlord tax is a hugely complicated area, so if you are investing in buy-to-let or renting out any property you own, it’s well worth consulting a specialist property tax adviser. They can help ensure you: a. Own, let, take income and realise gains from your investment in…
Read More →
Breaking News

House prices post third consecutive quarter of growth

The latest Property Market Index Review by London lettings and estate agent, Benham and Reeves, has revealed that the property market continued to demonstrate positive momentum during the third quarter of this year, with house prices increasing for a third consecutive time, although the rate of growth seen did slow considerably when compared to the…
Read More →
Breaking News

Estate agent predicts ‘Boxing Day Bonanza’ as property market reignites

A leading estate agent is forecasting a “Boxing Day Bonanza” for home movers. Brendan Kay, Managing Director of Parkers Properties in West Oxfordshire, says that the “market is coiling and about to spring” after months of inertia driven by Budget uncertainty. Brendan, who has offices in Witney and Eynsham, looks after clients in some of…
Read More →
Estate Agents should not all look the same
Breaking News

Agent numbers set to grow by 4% in 2026

The latest research from The Property DriveBuy reveals that the number of estate agency businesses in the UK could be set to increase by over 4% in 2026, marking another year of solid expansion for the sector and further increasing the level of market competition. Property DriveBuy analysed available Office for National Statistics data (2017-2025)…
Read More →
Breaking News

Rental supply climbs 15% despite landlord uncertainty

The latest research from Dwelly has found that, despite what has been an incredibly uncertain year for landlords – marked by political back and forth over the Renters’ Rights Act, its eventual approval, and the additional 2% tax hit delivered in last week’s Autumn Budget – there are currently 15% more rental homes available to…
Read More →