little about myself, lost job about 5 years ago when silicon glen went out the window, (dvd players for £7 and the like cant really be made in the uk tbh). Moved in with parents again, retrained at uni, got a job last year, started looking to buy, feeling a bit paniced like most ftb, scared at the rapid rise of house prices, being mature student i got resonable student loan, and with my low outgoings was able to retain the vast majority of it for a deposit on a house. When i got my job, i had worked one day, and decided to test the water and find out about mortgages, i heard about northern rock and called them, based on my one days working, they where happy to offer me a 6x salary mortgage based on purely a photocopy of my contract, however, i was happy to wait till id worked 6months or so and got some stability, but norther rock advisor had other ideas, frequently calling my modile through the week and at the weekends till i blatently told them to f off.
When norther rock did "go under" i started mentioning to friends and collegues that a hpc may be on the cards, but again was like fighting a brick wall, none would hear of it, increasingly now though people agree that there is a "slow down" but that scotland is already very cheap for property and that there will be no price drops here.
The reason for my post is the current front page news article on this site: http://firstrung.co.uk/articles.asp?pageid...articlekey=8865
House prices increased in all regions during 2007. Scotland recorded the biggest price rises with a 13.1% increase; the only double digit increase. House prices in Scotland rose more quickly than the UK average for the fifth successive year. A key factor driving the increase in house prices in Scotland has been its relative affordability. Scottish house prices continue to be the most affordable in the UK. At £144,897, the average price of a house in Scotland is 26% less than the UK average of £197,071.
My experience of watching the properties for sale are that there have been moderate drops, and many more fixed price properties, most articles i have read and anectodals i have read on here apply to the english market, i just wondered if any other scots had an opinion on wether the scottish property market will be affected in the same way as england.