After a year of celebrations marking 15 years in business, award-winning Northwood North East has much to look forward to this year. With national reach and expert local knowledge, the growing team provides sales, lettings and investor solutions under one roof. Owner and director Laura Mearns, Operations Director Matt Pullinger and Residential Sales Manager Ali Clark highlight some of the predictions and challenges in 2025.
What are the main property trends for 2025?
Laura: With positive signs of recovery and growth in sales and lettings markets, this year started with a high volume of valuation and viewing enquiries in the first week. The desire to move in 2025 appears to be high on the list of priorities for many and we expect this to continue, with demand pushing property values up around another 1 -2%.
Ali: Most properties currently are achieving the asking price or home report value, with standout properties often going for more than the home report value. Properties requiring work continue to take time to sell and are achieving between 3-8% below home report value. We anticipate a busy lead into Spring so if you’re thinking of selling or buying now is the time! First time buyers made up a large proportion of our buyers last year, viewing and placing offers all year round rather than the typical Spring/Summer market. We had a strong performance in the sale of one and two-bedroom flats and houses up to £250,000 which appealed to first time buyers.
Matt: The lettings market remains busy with high tenant demand compared to previous years. Combined with reduced supply, rents across the City and Shire continue to rise. Properties are still moving quickly, especially those in great condition. Last December we saw twice the check-ins we normally anticipate at what can be a quieter time. This trend has continued – we had more than 100 viewings booked across the portfolio in the first week backas many are preferring to rent with still much uncertainty in committing to a mortgage. We also see a big demand for family homes across the North-east with most properties getting viewings within minutes of listing and often going under offer within days.
What is driving the increase in demand for property locally?
Laura: Several things are collectively contributing to Aberdeen’s appeal as a place to live in 2025, not least the anticipated fall in interest rates and the numbers of first-time buyers getting on the property market post-Covid. Other factors include:
- Energy sector expansion with GB Energy HQ set to be in the city;
- Aberdeen’s economy is forecast to grow by 1.8% in 2025, surpassing the UK average;
- Relatively affordable housing options compared to other UK cities;
- Increasingly vibrant cultural scene including initiatives to redevelop areas like Union Terrace Gardens and surrounding areas
What are the challenges facing landlords and sellers in 2025?
Matt: The Housing Bill continues to progress through the Scottish Parliament with a focus on rent controls, tenant protection and homelessness prevention. We will continue to monitor and update our clients as these changes may influence investor confidence and property availability. The Bill’s progression indicates a significant shift in Scotland’s housing policy, focusing on tenant rights and rent regulation. While it aims to provide greater security for tenants, concerns remain regarding its impact on housing supply and investment.
Ali: In terms of sales, there is still some buyer caution which is expected to continue to impact on sale times as buyers take time to make decisions. Some areas continue to experience a saturation of property for sale, so to achieve a quick sale and maximise sale value, it is essential that any new property going on the market stands out from the rest.
What sets Northwood apart from other selling agents?
- Our popularGuaranteed Rent service provides you with a ‘guaranteed tenant’ as Northwood become your tenant, ensuring a fixed rental income for the landlord for a minimum period of 12 months, even if there are voids and rent arrears, or the property is empty. This is not an insurance product and no other agents in the area offer this;
- Local expertise with offices in Rosemount, Inverurie, Banchory and Stonehaven;
- An award-winning estate agent offering Bespoke by Northwood service. Advertising no more the 75 sales properties at any one time and with a growing team of local experts, we provide a personal and professional journey for both buyer and seller and ensure that properties do not become a number in a window;
- Combined with our expert local knowledge, our portals – Zoopla, Rightmove and On The Market – offer national and local reach.
To find out more about how Northwood can help with all your lettings and estate agency needs, contact us today on 01224 218450, or visit our website at northwooduk.com/Aberdeen, or visit one of our offices.
Aberdeen: 01224 218450 | aberdeen@northwooduk.com | 207-211 Rosemount Place, Aberdeen, AB25 2XS // Banchory: 01330 700772 | aberdeenshire@northwooduk.com | 57 Banchory High Street, Banchory, AB31 5TJ // Inverurie: 01467 530591 | aberdeenshire@northwooduk.com | 23 West High Street, Inverurie, AB51 3SA
