House prices hit by North Sea crisis

The average property in Aberdeen is worth 12% less than it was a year ago

Published 20th Apr 2016

The downturn in oil and gas is being blamed for a house price slump in the North East.

The report for Your Move says the price of the average house in Aberdeen has fallen more than 12% in the year to February

In Aberdeenshire they're down by 9%

They've dropped more here than anywhere else on the Scottish mainland - and it's being blamed on the decline in employment and investment since the price of oil started falling.

The North East has had a booming housing market for years, and homes in the city and shire are still worth significantly above the Scottish average.

The average property in Aberdeen City is worth ÂŁ202,122 while in Aberdeenshire it's ÂŁ217,570.