House price figures 'encouraging'

THE average price of a house in the Aberdeen housing market area has risen for the third quarter in succession.

Figures released yesterday for the fourth quarter of 2009 for the local area housing market, released by the Aberdeen Solicitors' Property Centre (ASPC), show that the average property price rose between October and December from 202,712 to 204,130.

During the quarter, 982 properties were added to the property register and 1,143 were sold.

John MacRae, the chairman of ASPC said: "This is the third consecutive quarter in which the average price has risen.

"The current figures also disclose a decrease in numbers of sales and insertions, but this is expected in the fourth quarter and is almost certainly seasonal."

He added: "The volume of transactions continues to be lower than in recent years.

"Nevertheless, member firms report growing confidence in purchasers, mortgage approvals, nationally, are increasing and demand appears to be relatively strong in our area.

"Our market would benefit from an increase in volume but, given the general economic situation, the fourth-quarter figures are encouraging."