Property Auctions In Aberdeen
Property For Sale In Aberdeen, Scotland
The steady increase in Scottish house prices makes attending property auctions in Aberdeen an attractive proposition for both new buyers and those interested in property investment opportunities.
This coastal city has an ample choice of houses and flats for sale in both affordable and more exclusive areas. First time buyers appreciate the diversity of property for sale and property investors from far and wide have put Aberdeen as a priority on their list of high potential areas.
If you are thinking about attending property auctions in Aberdeen this article will help you with some essential home buyers information.
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Property Prices In Aberdeen, Scotland
The property market in Scotland has generally shown a healthy increase in prices and in the year to March 2020 the average increase in house prices was 1.5%.
Price levels are dictated by the number of properties available and location. In contrast to the national trend, Aberdeen saw an average annual decrease of 3.5% in house prices from 2019 to 2020 making this an ideal opportunity for investors to pay less for a property.
How Much Is Property in Aberdeen?
The average cost for a house in Aberdeen is £214,451 with flats costing around £150,000 and terraced properties costing about £205,000. Houses sold at property auctions in Aberdeen can cost up to 30% less than those sold through estate agents. In Aberdeen city centre you can find a 2 bedroom flat with a guide price of between £75,000 and £105,000.
Bargain Property For Sale by Auction Near Aberdeen
Situated in North East Scotland, Aberdeen is a thriving city. The oil boom that started in the 1970s continues to make this city an attractive place to live and work. The vast majority of lots at property auctions in Aberdeen are located in the city itself, however there are other nearby places well worth considering when looking for a bargain or cheap property.
Property in Stonehaven (AB39)
Sitting 15 miles South of Aberdeen on the North East coast is Stonehaven. The A90 road links Stonehaven to Aberdeen and the rest of Scotland with buses providing travel to the city and Aberdeen airport. A 1-bedroom flat in the town will cost around £95,000 and there are plenty of larger properties available. property for sale in Stonehaven is generally viewed as a good opportunity for buyers who want easy access to the city of Aberdeen.
Property in Elrick (AB22)
The small village of Elrick is West of Aberdeen and lies on the A944. Properties for sale in Elrick are not cheap but there are some new developments and Aberdeen is only 4.5 miles away. A 4-bedroom detached house will cost in the region of £425,000. This is a quiet village and has few amenities but is ideal for anyone wanting a quiet life and an easy commute.
Balmedie is another village close to Aberdeen. Stagecoach East Scotland provides buses that run to the city as well as Fraserburgh and Peterhead. There is a primary school, a few shops and a hotel. Prices for properties in Balmedie range from £80,000 for a 1-bedroom flat up to £240,000 for a 4-bedroom detached house. The village provides good value for money for first-time buyers and seasoned property investors.
Seven miles south of Aberdeen is Portlethen, a coastal town with an hourly rail service to and from Aberdeen. The village has a range of property types including bungalows, large detached houses and 3-bedroom terraced homes. Former 3 bedroom council homes are up for sale at the modest price of £150,000.
Dyce is located on the River Don and is home to Aberdeen airport. The opening of the Aberdeen bypass has helped to make Dyce easily accessible by road. There is also a railway station which serves the Aberdeen to Inverness line. Properties in Dyce are highly sought after by families who are relocating and investors. A new build 1-bedroom studio flat will command a starting price of around £110,000.
Property Auctions in Aberdeen FAQ
How Can I Find Property Auctions In Aberdeen?
There are a number of property auction houses which publish upcoming and future property auctions in Aberdeen. Check local news outlets for up to date information about possible property auctions. You can also find auction houses listed on flyers and in business information directories for Aberdeenshire.
How Much Are Auction Properties In Aberdeen?
Prices at property auctions in Aberdeen vary according to location, status and the condition of the building. The average property price in Aberdeen is over £200,000 for a house and around £150,000 for a flat. many houses and flats sold at Aberdeen property auctions tend to sell for around 30% less than the market value, although this is not always the case.
Which Areas Are Best To Find Auction Properties In Aberdeen?
Top areas for auction properties in Aberdeen are the city centre and houses further out in the countryside but with easy access to the city. Banchory has some of the most expensive properties whilst Torrey has good quality flats at relatively modest prices.
Can I Buy Repossessed Properties In Aberdeen?
Repossessed properties in Aberdeen are usually listed by banks and building societies, although many of the repossessed properties for sale in Aberdeen are sold via estate agents and not by property auction. You can also approach finance companies for any repossessed properties on their books.
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Property In Aberdeen Sold by Auction
There are a wide variety of properties sold at property auctions in Aberdeen and the surrounding area. If you are looking for private house or flat, commercial property for sale or a property to renovate you will not be short of choices in this beautiful Scottish city.
Commercial Property For Sale in Aberdeen
Commercial property for sale in Aberdeen ranges from office and retail buildings to hotels and industrial space on business parks. Industrial properties can command a rent of between £11.00 and £14.00 per square foot. A retail unit in Aberdeen can provide a good income with a city centre unit of 1,200 square feet bringing in around £130,000 per year in rent.
Residential Property For Sale in Aberdeen
Buying residential property offered for sale at property auctions in Aberdeen can be a good long term investment. Aberdeen has two universities so the student population is always looking for property rentals. In addition, the oil industry supports over 40,000 jobs some of which are transitory with workers often wanting to rent. You can buy a 1-bedroom flat in the centre of the city for around £75,000 and this could bring in an income of between £400 and £600 per calendar month.
Repossessed Property in Aberdeen
Many property auctions in Aberdeen and the surrounding area offer repossessed property for sale. These properties can sometimes be run down or may require a major refurbishment, but if you have access to funds they can be extremely lucrative. Many property buyers in north-east Scotland specifically look for repossessed property in Aberdeen when viewing lots at auction.
Derelict Property In Aberdeen
Property auctions in Aberdeen provide excellent opportunities for anyone wishing to buy a derelict property for sale or a property in need of renovation. Older flats which require renovation can be purchased for modest sums. Whether you want to buy a derelict or development auction property in Aberdeen to live in or as a wise investment, there is plenty of choice.
Property renovation resources:
- Buying property to renovate at auction
- Home renovation costs
- Home improvement grants in the UK
- Renovating a House or Flat
- Do You Pay Stamp Duty On A Derelict Property?
Property resources for Aberdeen:
Council tax rates in Aberdeen from Aberdeen City Council
General information on the city of Aberdeen, Scotland
Buying At Property Auctions In Aberdeen
Buying a property by auction in Scotland was a tradition that had declined but this way of buying a home is now becoming extremely popular. Properties arrive at auction for a reason and it is important to ascertain why that is.
Some types of property may not be eligible for a mortgage. There could also be structural defects or quirks such as a septic tank instead of main drains. Find out as much as possible before bidding at any property auction in Aberdeen. It is also important to use a qualified property surveyor to do checks such as a property damp survey, especially with any country property for sale.