The fall in the oil price could have a drastic impact on the housing sector in Aberdeen, the oil capital of the UK, according to a report by accountancy firm Moore Stephens.
“The oil-price crash could drag down the housing market in Aberdeen and a considerable number of people could suddenly find themselves in negative equity,” Jeremy Willmont of Moore Stephens said.
With the fall in oil prices already having had an impact on employment prospects locally, “second-line consequences for the housing market may now start to emerge,” he said.
The Independent, p. 13
