roblpm Posted September 9, 2008 Share Posted September 9, 2008 I thought it might be interesting for people to post properties that they are tracking on a seperate thread. And then hopefully in 6 months time update with the sales price?! Here's one from me: 81 Comiston Drive, Come straight on at FP £675K! (Interesting that they are not even bothering with OO). Even more interesting to see how they go vs April 2005 and Oct 2003 http://www.espc.co.uk/Buying/269263.html Anyway previously sold prices: 81 Comiston Drive, Edinburgh, Midlothian, EH10 5QT £525,000 Application No: 05MID10398 Title No: MID49615 Application Type: DW Deed Codes: 11 20 1 Application Date 21-Apr-2005 and 81 Comiston Drive, Edinburgh, Midlothian, EH10 5QT £466,161 Application No: 03MID25065 Title No: MID49615 Application Type: FR Deed Codes: 11 20 Application Date 03-Oct-2003 Quote Link to comment Share on other sites More sharing options...
Guest An Bearin Bui Posted September 9, 2008 Share Posted September 9, 2008 I thought it might be interesting for people to post properties that they are tracking on a seperate thread. And then hopefully in 6 months time update with the sales price?!Here's one from me: 81 Comiston Drive, Come straight on at FP £675K! (Interesting that they are not even bothering with OO). Even more interesting to see how they go vs April 2005 and Oct 2003 http://www.espc.co.uk/Buying/269263.html Anyway previously sold prices: 81 Comiston Drive, Edinburgh, Midlothian, EH10 5QT £525,000 Application No: 05MID10398 Title No: MID49615 Application Type: DW Deed Codes: 11 20 1 Application Date 21-Apr-2005 and 81 Comiston Drive, Edinburgh, Midlothian, EH10 5QT £466,161 Application No: 03MID25065 Title No: MID49615 Application Type: FR Deed Codes: 11 20 Application Date 03-Oct-2003 That is an awful lot of changing hands for what looks like a good family home in a good area. Makes you wonder about the neighbours! Or do they have a secret dry-rot problem that can't be fixed?? I see a lot of these family homes coming up for sale now at aspirational prices but unfortunately it looks like all the oldies are selling up at the same time just when mortgages are getting hard to come by so achieving sales will be tricky... Anyway, back on topic, 3-bed basement flat for £745k, anyone? Quote Link to comment Share on other sites More sharing options...
roblpm Posted September 9, 2008 Author Share Posted September 9, 2008 I actually think they might have subsidence problems! There is a small river runs past the bottom of the gardens at the foot of a steep hill so I think they might all be slipping in to it! That one you posted is hilarious! Can get something pretty good for £750k these days! Quote Link to comment Share on other sites More sharing options...
guitarman001 Posted September 9, 2008 Share Posted September 9, 2008 I'll give you £120k for both of those. Those prices... ridiculous. I would never, ever buy at those prices; I don't see who would :s Quote Link to comment Share on other sites More sharing options...
Muswell Hillbilly Posted September 9, 2008 Share Posted September 9, 2008 Anyway, back on topic, 3-bed basement flat for £745k, anyone? F*** me ragged! Three quarters of a million quid for a three-bed basement flat in Edinburgh! For a property like that, that’s a Hampstead price, in fact a Foxtons Hampstead price! I was going to post a dull old two-bed tenement flat in Brunstfield at OO 245 or something (clearly hoping to achieve over 300K like last year), but I don’t think anything I could post could match the Inverleith basement for aspirational pricing! Quote Link to comment Share on other sites More sharing options...
geed Posted September 9, 2008 Share Posted September 9, 2008 I'll give you £120k for both of those. Those prices... ridiculous. I would never, ever buy at those prices; I don't see who would :s yup £675,000 is roughly 11/16th's of £1,000 000......bloody hell, its just a house! Quote Link to comment Share on other sites More sharing options...
Scunnered Posted September 9, 2008 Share Posted September 9, 2008 (edited) Anyway, back on topic, 3-bed basement flat for £745k, anyone? Lovely. If you add up the areas of the rooms you get a total of 946+13/16 sq ft. That works out at just over £786.85 per square foot, or just under £8469.59 per square metre. Still, it is in Edinburgh, so I suppose that's really very reasonable. I also like the way it's described as "Lower Ground Floor" rather than "Basement". EDIT: A spot of googling finds this article from the 15th of August saying that Prime property in London and New York costs slightly more than $15,000 per square meter, according to Global Property Guide. A similar property in Paris, Hong Kong, Tokyo or Singapore costs more than $10,000 per square meter. So in New York and London you pay £8513.72 per square metre, only £44.13 more than for a hole in the ground in Inverleith Place; looks like we've just scraped into third place. You might almost think there was some kind of house price bubble going on. Edited September 9, 2008 by Scunnered Quote Link to comment Share on other sites More sharing options...
Guest An Bearin Bui Posted September 10, 2008 Share Posted September 10, 2008 So in New York and London you pay £8513.72 per square metre, only £44.13 more than for a hole in the ground in Inverleith Place; looks like we've just scraped into third place. You might almost think there was some kind of house price bubble going on. Yes, but Edinburgh is a unique market, after all. You really can't just go about comparing it on a price per sq m value with places like Hong Kong, New York and London. Those places are exposed to the global market and the vicissitudes of the business cycle whereas Edinburgh is a wholly unique market, entirely divorced from any economic norms. Personally I think it's becauase PRICES HAVE NEVER FALLEN IN EDINBURGH. That and the FUNDAMENTALS ARE STRONG so really when you think about it £745k for a basement flat is very good value, epecially when it's that close to the Botanic Gardens. That adds at least £200k to the value right there. If you take into account the snazzy recessed light in that place, £745k seems pretty fair... Quote Link to comment Share on other sites More sharing options...
Scunnered Posted September 10, 2008 Share Posted September 10, 2008 (edited) Yes, but Edinburgh is a unique market, after all. You really can't just go about comparing it on a price per sq m value with places like Hong Kong, New York and London. Those places are exposed to the global market and the vicissitudes of the business cycle whereas Edinburgh is a wholly unique market, entirely divorced from any economic norms. Personally I think it's becauase PRICES HAVE NEVER FALLEN IN EDINBURGH. That and the FUNDAMENTALS ARE STRONG so really when you think about it £745k for a basement flat is very good value, epecially when it's that close to the Botanic Gardens. That adds at least £200k to the value right there. If you take into account the snazzy recessed light in that place, £745k seems pretty fair... I'd go further. For a prime property in a prime location like this, I think they could quite reasonably expect a seven-figure sum. I really feel that we should be grateful for the vendors' generosity in allowing us the opportunity to buy in Edinburgh for such a trifling amount. My suspicion is that their compassion has led them to make a deliberate sacrifice in order to help out struggling first-time buyers; a little bit more of this almost Christ-like humanity and self-denial wouldn't go amiss in the modern world. Edited September 10, 2008 by Scunnered Quote Link to comment Share on other sites More sharing options...
Muswell Hillbilly Posted September 13, 2008 Share Posted September 13, 2008 Just noticed this one: One-bedroom flat for OO 245K Quote Link to comment Share on other sites More sharing options...
ccc Posted September 13, 2008 Share Posted September 13, 2008 (edited) I think this could be a winner. Two bed flat on Easter Road. Quite nice size rooms and all but still, it's a flat on Easter Road. Is this a Joke... 235k Fixed Price.. A quick search reveals you can get ready to move in 2 bed's On Easter Road for between 140-150k. So youa re paying almost an extra 100k for a wee back Garden and your own front door.... MADNESS. Edited September 13, 2008 by ccc Quote Link to comment Share on other sites More sharing options...
guitarman001 Posted September 14, 2008 Share Posted September 14, 2008 I wouldn't stay at Easter Road if somebody paid me! OK, a bit harsh... but it seems a bit run down and parking is a nightmare! Good, ridiculous, find! Quote Link to comment Share on other sites More sharing options...
wilko Posted September 14, 2008 Share Posted September 14, 2008 This dosn't seem too bad for a two bedder (http://www.espc.com/Buying/269294.html) so I went for a cheeky viewing. This place needs some serious work. No heating (portable heaters only!) No Shower Hot water is an immersion heater Non of the windows locked Kitchen is a sink and a cooker tucked away in a cupboard Needs decorating throughout and a lot of TLC. All of the above I can deal with, it's a fix-er-upper with a lot of potential to develop over time. What had me scared is the amount of damp in the place. All along a shared wall in two rooms it was physically wet to the touch. This was really bad in one corner, and when prompted the girly doing the viewing said you get puddles when it rains. Seeing my shock she then went on to say something about underground streams. By now I was in WTF mode and started backing slowing towards the door. Is damp that bad something that the whole block is responsible for? It seems like a pretty serious structural integrity issue to me. I did notice the ‘drying green’ was all concrete, and sloped towards the flats. Poor drainage maybe. Anyway, it’ll be interesting to see what happens to this one. Quote Link to comment Share on other sites More sharing options...
roblpm Posted October 16, 2008 Author Share Posted October 16, 2008 Just thought I would add this: http://www.espc.co.uk/Buying/270904.html Terrace in Morningside on a fairly busy road straight on at FP £650k Sold Just 3 months ago??!! 96 Braid Road, Edinburgh, Midlothian, EH10 6AP £600,000 Application No: 08MID26890 Title No: MID85564 Application Type: DW Deed Codes: 11 20 1 Application Date 18-Jul-2008 But look at the price in 2006: 96 Braid Road, Edinburgh, Midlothian, EH10 6AP £440,000 Application No: 06MID01003 Title No: MID85564 Application Type: FR Deed Codes: 11 20 Application Date 11-Jan-2006 So they are having a laugh!! Maybe they did it up? Quote Link to comment Share on other sites More sharing options...
tinecu Posted October 16, 2008 Share Posted October 16, 2008 I think this could be a winner. Two bed flat on Easter Road. Quite nice size rooms and all but still, it's a flat on Easter Road. Is this a Joke... 235k Fixed Price.. A quick search reveals you can get ready to move in 2 bed's On Easter Road for between 140-150k. So youa re paying almost an extra 100k for a wee back Garden and your own front door.... MADNESS. They seem to have come round to your way of thinking!: http://www.home.co.uk/search/price_info.ht...perty=506769792 Quote Link to comment Share on other sites More sharing options...
lulu Posted October 16, 2008 Share Posted October 16, 2008 F*** me ragged! Three quarters of a million quid for a three-bed basement flat in Edinburgh! For a property like that, that’s a Hampstead price, in fact a Foxtons Hampstead price!I was going to post a dull old two-bed tenement flat in Brunstfield at OO 245 or something (clearly hoping to achieve over 300K like last year), but I don’t think anything I could post could match the Inverleith basement for aspirational pricing! That could be my neighbour, he has optimistically had his flat on for about 6 months and it has not changed from his OO ~250K ever since. Strange how no one seems to be even viewing it. Quote Link to comment Share on other sites More sharing options...
EdiLass Posted October 19, 2008 Share Posted October 19, 2008 That could be my neighbour, he has optimistically had his flat on for about 6 months and it has not changed from his OO ~250K ever since. Strange how no one seems to be even viewing it. I interested in what you guys would a) pay for the properties you've highlighted market the properties for if you were selling them c) think they might actually go for given that you think the asking prices are way off Quote Link to comment Share on other sites More sharing options...
Muswell Hillbilly Posted October 24, 2008 Share Posted October 24, 2008 This one’s taking the piss a bit, isn’t it? It’s a two-bed maindoor tenement flat in Marchmont, which first came to the market at OO 295, and is now at 375 FP! 37 Thirlestane Road A very similar property remains for sale since 22 April, going from OO 245 to 323 FP, then 312, then 300, and is still unsold at 288 FP: 40 Thirlestane Road The going rate for two-bedders in the area seems to be 250, and there are three-bedders advertised (mostly not selling) for 300–340. The vendor of 37 Thirlestane doesn’t have a hope. Quote Link to comment Share on other sites More sharing options...
itsdave Posted October 25, 2008 Share Posted October 25, 2008 This one’s taking the piss a bit, isn’t it? It’s a two-bed maindoor tenement flat in Marchmont, which first came to the market at OO 295, and is now at 375 FP!37 Thirlestane Road A very similar property remains for sale since 22 April, going from OO 245 to 323 FP, then 312, then 300, and is still unsold at 288 FP: 40 Thirlestane Road The going rate for two-bedders in the area seems to be 250, and there are three-bedders advertised (mostly not selling) for 300–340. The vendor of 37 Thirlestane doesn’t have a hope. No 37 is about 30% bigger than No 40, so might not be as over priced in relation as it first appears. If (when?) prices are down by about 30%, they might be worth a punt. It seems absolutely static at the moment, though, doesn't it? roblpm, that Morningside house is jaw-drappingly overpriced! £457 per square foot for a house on a busy road in an Edinburgh suburb - the owners must be nuts! Quote Link to comment Share on other sites More sharing options...
Muswell Hillbilly Posted October 25, 2008 Share Posted October 25, 2008 No 37 is about 30% bigger than No 40, so might not be as over priced in relation as it first appears. If (when?) prices are down by about 30%, they might be worth a punt. It seems absolutely static at the moment, though, doesn't it? Yes, you’re right – no. 40 isn’t a proper two-bedder, but merely has a ‘kichen/breakfast room’ apparently squashed into what should have been a large boxroom. I do wish agents would put floorplans in their schedules. So it’s no wonder that that one hasn’t sold for 288K! It has a long way to fall, doesn’t it? It’s only been on the market for six months, after all. Quote Link to comment Share on other sites More sharing options...
guitarman001 Posted October 26, 2008 Share Posted October 26, 2008 Massively over-priced. Hate the whole ca;;ing a boxroom an extra room thing. And kitchens which are attached onto the living room! Maybe £80k I'd pay for that, absolute max. Even then, total rip-off. IMO. Prices on ESPC still very high in general, though showing a (slow) downwards trend. Quote Link to comment Share on other sites More sharing options...
itsdave Posted October 26, 2008 Share Posted October 26, 2008 I do wish agents would put floorplans in their schedules. So it’s no wonder that that one hasn’t sold for 288K! It has a long way to fall, doesn’t it? It’s only been on the market for six months, after all. Floor plans are absolutely essential in determining whether or not you want to go to a viewing - it's very frustrating when agents don't include them. A few times I've emailed an agent to ask if they have one, where not included on the schedule, and they've never seemed bothered or motivated to send me one. Hate the whole ca;;ing a boxroom an extra room thing. And kitchens which are attached onto the living room! Maybe £80k I'd pay for that, absolute max. Even then, total rip-off. IMO. Don't get me started on my pet rant . It completely ruins the well proportioned layout of the flat when they do that. I can see the whole 'kitchen / living room' thing being a ridiculous 'lifestyle' fad of the last ten years, and particularly in traditional tenements, being really difficult to sell in a tough market. Prices on ESPC still very high in general, though showing a (slow) downwards trend. I've started to see the occasional property now where the 'fixed price' has been reduced to almost the orginal 'offers over' asking price, which is encouraging. Very slow, though, like you say. I'm going to a 'champagne launch' this afternoon - wonder if anybody else will turn up . http://www.primary1.net/dev.html They seem to be priced about £320 per square foot (a smallish 2 bedder is £249,950), which is on the optimistic and pricey side of the current market, but not exceptional. The fact that the entire market is over-priced by about a third is another matter though! I imagine there's also a risk with new developments that the builders might run out of money half way through. Will be interesting to see who turns up! Quote Link to comment Share on other sites More sharing options...
geed Posted October 26, 2008 Share Posted October 26, 2008 This one’s taking the piss a bit, isn’t it? It’s a two-bed maindoor tenement flat in Marchmont, which first came to the market at OO 295, and is now at 375 FP!37 Thirlestane Road A very similar property remains for sale since 22 April, going from OO 245 to 323 FP, then 312, then 300, and is still unsold at 288 FP: 40 Thirlestane Road The going rate for two-bedders in the area seems to be 250, and there are three-bedders advertised (mostly not selling) for 300–340. The vendor of 37 Thirlestane doesn’t have a hope. Both vendors are on a drugs. I feel like calling up the agent calmly asking to speak to someone about both flats, once I am speaking to the right individual, just laughing out loud on the phone until he or she hangs up. know of a flat in arden street that has sold for £255K recently, 2 bed ground floor. 37 is undoubtedly a nice flat, it is still a flat. Private rear garden (as long as you dont mind 20 or so pairs of eyes staring down at you from other flats) and an ensuite mark this one out from the other overpriced place. But 37.5% of £1,000,000 Quote Link to comment Share on other sites More sharing options...
lulu Posted October 27, 2008 Share Posted October 27, 2008 That could be my neighbour, he has optimistically had his flat on for about 6 months and it has not changed from his OO ~250K ever since. Strange how no one seems to be even viewing it. I interested in what you guys would a) pay for the properties you've highlighted market the properties for if you were selling them c) think they might actually go for given that you think the asking prices are way off Well it appears that the above flat is now off the market so we may find out in the future what it will be worth. IMO they should have fixed priced it at £250,000 and it would have sold - it is a nice flat, kind of like the one I am in but clean and with better decor! What do I think it is worth? I would say, all things being sensible that it should be 'worth' something in the region of ~£170/180,000 assuming we have a couple on two decent salaries who are buying it. It is only a flat after all, no parking and a crappy wee garden so not really suitable for kids, also because of its size and layout not really any good for HMO. Quote Link to comment Share on other sites More sharing options...
ccc Posted October 27, 2008 Share Posted October 27, 2008 I think we have a winner. Gorgie SlaveBox Offers over 90k for a one bed flat in Gorgie. Needs COMPLETE renovation and upgrading. Also does not even have a bathroom. Insane. In 2002 you could get a place pleasant & ready to move in for about 50k. I expect a one bed 'development' flat in Gorgie to be going for under 50k in less than 2 years. If that. Quote Link to comment Share on other sites More sharing options...
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