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 £202,122 while in Aberdeenshire it's £217,570.