Scotland business

Oil price 'not yet linked to Aberdeen house price drop'

The lower oil price cannot yet be linked to a recent slight drop in house prices in Aberdeen, it has been claimed.

The last quarter of 2014 saw prices fall by 1.5%, the Aberdeen Solicitors' Property Centre (ASPC) said.

John MacRae, chairman of the board of directors, said no simple link could be made with the figures and the turbulent period in the oil and gas industry.

The annual position, comparing 2014 to 2013, showed a rise of 9.2%.

The ASPS also said the volume of sales in 2014 had more or less matched that of 2013.

Mr MacRae said: "The fourth quarter figures for 2014, showing a small decrease in the average price in the city and suburbs compared to the third quarter, are generally in line with what we expect.

"It will be interesting to see how the first quarter of our local market behaves."

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