Weak oil price affects Aberdeen Property market

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

Stress Test Reform Boosts Buy-to-Let Market as Product Choice and Affordability Improve

The latest research from award-winning mortgage adviser Alexander Hall has found that recent changes to stress testing rules are helping to rejuvenate the buy-to-let borrowing landscape, with product choice, affordability, and rate competitiveness all showing strong signs of improvement. The changes follow an update from the Bank of England in March 2025, which eased the…
Read More
Breaking News

Propertymark outlines how UK Government can help smaller housebuilders meet ambitious 1.5 million new homes target

Property agent professional body, Propertymark, has outlined how the UK Government can assist small to medium-sized homebuilding businesses (SMEs) to build 1.5 million new homes. As part of their ambitious target for boosting England’s supply of new homes, Propertymark has responded to the Ministry of Housing, Communities, and Local Government’s (MHCLG) Planning Reform Working Paper…
Read More
Property for sale
Breaking News

Why Vacant Dwellings Should Be Converted Into HMOs

The Hidden Housing Fix: Thousands of Empty Homes Could Become HMOs New research from COHO, the HMO management platform, reveals that England’s stock of Houses in Multiple Occupation (HMOs) could grow by nearly 5,000 properties simply by repurposing a small portion of the country’s long-term vacant homes. According to the latest UK Government housing data (2024),…
Read More
Cat Trees and Scratching Posts
Breaking News

New Rules on Pets and Discrimination: What Landlords Need to Know

By Allison Thompson, National Lettings Managing Director, LRG The Renters’ Rights Bill is set to introduce a wave of changes to the private rented sector, including new protections for tenants with pets, children, or those receiving benefits. These reforms aim to prevent blanket bans and create a more inclusive and transparent rental market. Landlords will…
Read More
Seaside Properties UK
Estate Agent Talk

Majority of Agents Plan Summer Holiday

The latest research from eXp UK has found that the majority of UK estate agents intend to take annual leave this summer, despite it being traditionally one of the busiest times of the year in the property market. The survey of UK estate agents, commissioned by eXp UK, revealed that 32% of agents have already…
Read More
Breaking News

Property sector benefits from additional £74M investment in the last year

New research has revealed that private investment in the UK property sector increased by £74.10 million last year – the fourth-highest surge of any UK sector. This comes as the UK Investment Association unveils new recommendations to unlock private market investment in UK businesses, potentially paving the way for future investment going forward. The business…
Read More