Cala Homes says its new houses in Aberdeen are selling for more than £500,000 on average as the north-east’s oil and gas- fuelled economic growth continues to push up property prices.
The upmarket housebuilder, which has its roots in the Granite City, yesterday launched a new sales division for Europe’s energy capital.
Expansion in the north-east is predicted to create 200 new construction jobs.
Cala Homes (North) is led by managing director Mike Naysmith, who told the Press and Journal that Aberdeen was second only to London in terms of average selling prices.
Mr Naysmith said Edinburgh-based Cala was eyeing areas further north, including Inverness, for opportunities.
Another upmarket housebuilder, Dandara, said the north-east market was one of its best-performing areas in the UK.
Cala’s new north division, based in Aberdeen, is expected to generate sales of nearly £30million by the end of its trading year to June 30. This is forecast to at least double by 2016.
Mr Naysmith said: “The Aberdeen market is very strong, thanks to a buoyant local economy.
“There is no shortage of purchasers.”
The north division is on course to build around 80 new homes this year but the annual total is expected to rise to 120-150 by 2016.
“Our land-buying team is always on the lookout for new opportunities in desirable locations,” Mr Naysmith said, adding: “The next two years will see a period of accelerated growth as we bring on several new developments.”
Cala’s top man in the north is responsible for a patch including Aberdeen and Aberdeenshire, but also Moray and the Highlands.
Foveran Fields at Foveran, near Ellon, is Cala’s most northerly development to date.
Asked if the housebuilder, part of Cala Group, had any plans for Inverness, Mr Naysmith said: “It all depends on the marketplace and whether it justifies us going there.
“But we would never say never.”
A spokesman for Isle of Man-based Dandara said: “The property market in Aberdeen city and shire is one of the best-performing in the UK.
“That has meant property continues to sell at a premium. However, there is no set average for the city.
“It is a highly dynamic environment within which prices can vary significantly from area to area.
“Our longest-established communities, at Tarves Lea to the north of the city and Deeside Brae on the southern periphery of Aberdeen have average sale values of £352,117 and £435,807.
“Moving into our development at Stoneywood, close to Aberdeen International Airport and on the A96 approach to the city, a property in the Walled Garden averages £460,980, while the Paddocks are £340,784.
“Our Oakhill Grange community – one of the most sought-after addresses in the region – averages £545,000 for a four-bedroom home.
“This is excluding our highest-value properties, the Rubislaw Villas, which have a sale value in excess of £1million.”