Our new residential magazine looks at what's happening in your area: 'The outlook for this year is cautiously optimistic.'

Aberdeen has been one of the least hard-hit cities in terms of recession. The resilience of the local economy is largely due to the robust energy industry, and the high employment rate is widely recognised. This was reflected in the healthy demand in the property market last year, particularly within a 20-mile radius of Aberdeen.

The start of 2011 saw Durris Manse attract more than 60 viewings, mostly from Aberdeen, and it sold well in excess of the asking price. Demand also remained strong inland, in beautiful, unspoiled Deeside and Strathdon. Here, the holiday home sector proved strong, with buyers coming from across the UK and overseas. A quaint cottage in Kirkton of Glenbuchat, for example, sold to a family from Leicestershire after being on the market for only a month.

Despite a lack of properties coming on to the market, buyers were still discerning, with privacy, land and glorious views top of everyone's wish list. Newton of Drumduan, in Aboyne, and Milton of Leask, in Ellon, both offering these sought-after qualities, sold well last summer. Another highlight was the sale of the Lower Dess Estate on Royal Deeside. This sporting and amenity estate boasts a private location with salmon fishing on the River Dee, plus farmland, woods, a country house and four cottages. The property sold last summer to a Hertfordshire businessman in excess of the £4.3 million asking price.

The outlook for this year is cautiously optimistic. We expect to remain sheltered from the widespread economic downturn, owing to the strength of the micro economy in the region. This, coupled with the shortage of properties, is likely to keep prices on the increase, albeit at a much slower rate than before the recession.

Read the full magazine: &homes - Aberdeen & North East Scotland