Is anyone noticing any changes in a downward direction in the highlands? I’ve been monitoring the EA’s for about 1 year now (Inverness +50miles), and despite an unprecedented(?) volume of properties for sale, many of which have been on the books for a long long time, nothing is decreasing.

In fact, using property bee, I’ve actually found a nasty new build that’s gone up!! (although this looks like a developer has had an oh-f*ck moment and realised he’s instructed the wrong price.

http://www.rightmove.co.uk/viewdetails-174...10&tr_t=buy

History
date event
25th Feb 2008  Status changed: from 'New home' to 'Available'
22nd Feb 2008  Price changed: from 'From £260,000' to 'From £263,000'
 Brief Description changed: 4 bedroom Detached house from £263,000
20th Feb 2008  Initial entry found.

Prizes for the first to post evidence of the log jam breaking.

Here we go!!! -12.5%



http://www.rightmove.co.uk/viewdetails-186...=2&tr_t=buy

....and another -9.3%



http://www.rightmove.co.uk/viewdetails-169...17&tr_t=buy

Capt,

The Heilans are knackered now that the silly money from Darn Saff is switching off.

Imagine what would happen if Inverness Medical said they were moving abroad, Armageddon wouldn't have look in.

I've noticed a lot of the big ticket stuff isn't flying off the shelves, a year from now it'll be grim.

You might be waiting for a while to see those changes , as a lot of property's are actually going up in price on their adverts as they go from e.g offers over 200,000 to fixed price of 220,000 , there is a bungalow in farr that has just done this and is not the only one in the area. As these remain unsold into the summer I think we might begin to see some reductions.

Another sign of activity?. Not a bad looking house either.

http://www.rightmove.co.uk/viewdetails-998...=6&tr_t=buy

History
date event
5th Mar 2008 * Price changed: from 'Offers in Excess of £355,000' to 'Offers in Excess of £325,000'

22nd Feb 2008 * Initial entry found.

Oh dear, I smell desperation!!!! Having gone up it's now going down now:


History
date event
9th Mar 2008 * Brief Description changed: 4 bedroom Detached house from £263,000 to £240,000
* Price changed: from 'From £263,000' to 'From £240,000'

26th Feb 2008 * Status changed: from 'Available' to 'New home'

25th Feb 2008 * Status changed: from 'New home' to 'Available'

22nd Feb 2008 * Price changed: from 'From £260,000' to 'From £263,000'
* Brief Description changed: 4 bedroom Detached house from £260,000 £263,000

20th Feb 2008 * Initial entry found.

http://www.rightmove.co.uk/viewdetails-178...=4&tr_t=buy

21st Mar 2008 Price changed: from 'Offers in Excess of £450,000' to 'Offers in Excess of £399,995'

10% drops are here, and this one's in a popular area.

There are a few more cracks beginning to appear. The old tactic of announcing a closing date to panic interested parties into submitting a “big offer” over in the belief that there was a lot in interest seems to be failing – see

http://www.rightmove.co.uk/viewdetails-194...=4&tr_t=buy

looks like nothing of interest happened for them on 14th March. This time last year they would’ve been fighting them off with a sh*ty stick.

Click to view attachment

Same house, but what the hell is going on?!! There seems to be many changes in the Wimpey portfolio in the region – the prices have been revised up and with a change from “George Wimpey East" to "North".
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Greetins Capt,

The markets stagnant and dying now the crazy Darn Saff money has dried up, the big ticket stuff is really beginning to stick.

I can see some Inverness area property taking a real sore one soon.

Quite agree - the top end is beginning to show signs of distress: http://www.rightmove.co.uk/viewdetails-156...=1&tr_t=buy This would've been snapped up with some loose change from a city bonus last year

Click to view attachment

In this months ica magazine the hspc column at the back reports that this time last year they had 400 properties for sale and this year they now have nearly 650 for sale.
This is real evidence of properties sticking and a lot of properties for sale i can remember being on the market 12 months ago. and there do now appear to be more fixed prices about that previously, but like the man says "who will blink first" and start the big slide in prices?

Back to our old friend - another £500 added on! Must be a hell of a lot of demand if a big number biding war is going on over this beauty.

Click to view attachment

Highland update

A few drops (up to 5%) but mostly for individual new built developments in the villages. I presume that these are from local speculative builders who realise that the games up.

The big wendy-house developers seem to think that a change in description from “new home” to “available” is going to get the cheque books out.

Lots of changes from OO to “guide price” or fixed.

A few more weeks and the McSheeple will see that the Spring Bounce is a Spring Thud and hopefully some realistic prices will begin to emerge

A few properties for sale in the Aberdeen P&J - my guess is that people are thinking that advertising pays.

A few holiday-type (gettaway cottages) on Deeside for example.

http://www.rightmove.co.uk/viewdetails-174...11&tr_t=buy

Same house AGAIN, now up to £260k WTF is going on here!!

Do you Wimpeys believe there’s a lot of interest in it due to the internet traffic, not knowing that it’s me repeatedly checking to see what random “value” has been plucked out of the air this time.

Maybe I should start a poll with prizes for who can guess what price it will be next week.



Click to view attachment

Looks like we’ve got it wrong, Inverness is immune to a HPC - only a slight correction according to David Ferguson, a partner at J&E Shepherd in Inverness

http://www.highland-news.co.uk/news/fullst...it_squeeze.html


Thanks for the unbiased advice David, I’ll just withdraw my STR fund and get back on the ladder, perhaps even a few BTL’s as it’s a sure fire winner given the demand you mention.


Just as well they are all immune from the crash then and will be heading north after a quick sale of their properties.

Here he is. A face you can trust. Be sure to thank him when you see him

A CHARTERED surveyor in Inverness has dismissed "doom and gloom merchants" warning of the impending credit crisis hitting the city's housing market.

I never said a word......................

Tumbleweed sighted in the Highlands, Scottish property values more rebust

I have several properties to monitor frae ma windae, 1 has sold but I'm hearing purchasers haven't sold own house yet thats gotta hurt bridging finance at this time.

Others no interest after months n' months n' months.

ica magazine came through the door this morning . reports the average quarterly house price in the highlands fell by 4% up to may.and hspc have 908 properties for sale at this time compared to 513 at this time last year. This certainly doesn't show a buoyant housing market, it seems we are around six months behind england in the price drops, it certainly going to get messy from here on in, certainly nothing seems to be selling unless very keenly priced.

Traveled a fair distance on the A82 can hardly see the Bed n' Breakfast signs furra amount For Sale signs.