sfr Posted August 30, 2023 Share Posted August 30, 2023 Anecdotally, friend has just bought a new build Barratt house (3 bed) at the Riverside Quarter (£250k). Had a flat he bought in Balmedie (2 bedroom) in 2014 for £110k. Had it on the market for £95k, no bites. Part exchanged it with Barratt and they sold it for around £85k. Quote Link to comment Share on other sites More sharing options...
Oily Posted August 30, 2023 Share Posted August 30, 2023 32 minutes ago, sandster said: I'd agree with the sentiment. I bought in 2009 right at the bottom of the last crash and there's a house just sold that was o/o 10% less than we paid then. Another just gone up for sale at 15% less. Then you look at Countesswells and Craibstone and wonder where people are coming from or how much trouble the builders are in if everyone went part exchange to move out there. I suspect the Countesswells development is dead in the water (much like the Chapelton of Elsick village beside Newtonhill, which I really like but it arrived too late) Quote Link to comment Share on other sites More sharing options...
regprentice Posted August 30, 2023 Share Posted August 30, 2023 3 hours ago, Oily said: Aberdeen will become increasingly attractive to low income incomers as it will be seen as a low cost housing area. And we are nowhere near the bottom of the decline yet. My father volunteers for a charity now he is retired. Apparently theyre helping set up accomodation for 200 refugees in an old commercial building in Altens somewhere. Perhaps thats a future for Aberdeen and all its empty and cheap housing - Scotland's refugee overflow? Quote Link to comment Share on other sites More sharing options...
dances with sheeple Posted August 30, 2023 Share Posted August 30, 2023 I thought the North Sea oil was coming back on, won`t that boost prices in the city? Quote Link to comment Share on other sites More sharing options...
Oily Posted August 30, 2023 Share Posted August 30, 2023 1 hour ago, dances with sheeple said: I thought the North Sea oil was coming back on, won`t that boost prices in the city? I don't blame you for thinking that but it's important to understand the bigger picture. I'm aware of the fanfare in the media about the new approvals but, as with most headlines, the reporting lacks perspective and conveys a poor understanding of the real situation. Much as I dislike the MSM and Reuters (and their sponsored fact checkers) the following link helps put the story into perspective. https://www.reuters.com/business/energy/uk-tax-sweetener-wont-stop-plummeting-north-sea-oil-gas-output-2023-06-09/ Quote Link to comment Share on other sites More sharing options...
dances with sheeple Posted August 30, 2023 Share Posted August 30, 2023 3 hours ago, Oily said: I don't blame you for thinking that but it's important to understand the bigger picture. I'm aware of the fanfare in the media about the new approvals but, as with most headlines, the reporting lacks perspective and conveys a poor understanding of the real situation. Much as I dislike the MSM and Reuters (and their sponsored fact checkers) the following link helps put the story into perspective. https://www.reuters.com/business/energy/uk-tax-sweetener-wont-stop-plummeting-north-sea-oil-gas-output-2023-06-09/ Not sure I fully understood all that. Quote Link to comment Share on other sites More sharing options...
shortbread Posted January 9 Share Posted January 9 HOLY ****! Stewart Milne winds up! OMG! They're a big name housebuilder towards the north of Scotland. Jobs lost as housebuilder Stewart Milne goes bust Housebuilder Stewart Milne Group has entered administration. The construction firm, based in the north-east of Scotland, said it faced "significant challenges" since Covid. Administrator Teneo said 217 jobs would be affected, with hundreds of other sub-contractor roles also expected to be impacted. Six of the company's subsidiaries have also been placed into administration. What happens at the unfinished sites? Trade roles working on the housebuilder's sites will also go as a result of the firm's collapse. The administrators said sub-contractors should not undertake any more work for the business, and site access - for example to collect equipment - should not be attempted unless approved by the administrators. Teneo said the company was "exploring its options" but was looking to work with other developers on the completion of unfinished sites. Buyers who have purchased or reserved homes from Stewart Milne Group and have not yet moved in will be contacted by the administrators directly. Current residents with outstanding works are asked to contact the SMHomeowners@teneo.com for further information. Adele MacLeod of Teneo said: "The downturn in the UK housing market combined with an extensive sales process not resulting in any viable offers has ultimately led to the need for the directors to place Stewart Milne Group Limited and some of its subsidiaries into administration, regretfully with some immediate redundancies. "We continue to assess all the options in respect of the group's Scottish development sites and encourage any party with an interest to get in touch." https://www.bbc.com/news/uk-scotland-north-east-orkney-shetland-67918029 Quote Link to comment Share on other sites More sharing options...
sandster Posted January 9 Share Posted January 9 Ooft. Guessing a lot of the various developments will be on the financial brink too due to oversupply and lack of demand. This thread has alluded to this for quite a while too. When you see the volume of new builds opposite TECA and at Countesswells you do wonder where all the people are coming from. Guess they all get part exchange which is why city center house prices have been static for a decade. Quote Link to comment Share on other sites More sharing options...
Ignorantbliss Posted January 9 Share Posted January 9 Kirkwood Homes are one to watch here in the NE. They've been caught out infilling flood plains near Sauchen and Inverurie and thanks to SEPA et al are being forced to restore them - a lot of soil to be moved and plenty £££ involved. Maybe explain why they are rubbing up communities across Aberdeenshire by appealing against existing agreements to pay for infrastructure development. As an example, here is one in Sauchen where they are trying to ditch their requirement to pay for upgrading local healthcare facilities (APP/2023/2189 | Modification of Planning Obligation (Healthcare Provision)). Quote Link to comment Share on other sites More sharing options...
spyguy Posted February 23 Share Posted February 23 https://www.housingtoday.co.uk/news/stewart-milne-owed-108m-at-time-of-collapse/5127962.article Stewart Milne Group went down owing the Bank of Scotland £107.9m, an administrators’ report has revealed. https://www.constructionenquirer.com/2024/02/22/stewart-milne-went-down-owing-supply-chain-153m/ The Stewart Milne Group collapsed last month owing suppliers and subcontractors £153m. Quote Link to comment Share on other sites More sharing options...
joebloggs Posted April 6 Share Posted April 6 Whats the view on Aberdeen property market long term? Seems that even with oil price recovered and in a steady place for several years, the market is flat. Family houses in West End still at 2012 prices as I see it. Stagnant house prices is effectively a decline. Struggling to see any reason for an uptick... - renewables investment by Energy Operators or perhaps incoming Labour Government?? Believe it when I see it. Or am I missing something? Quote Link to comment Share on other sites More sharing options...
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