Wednesday, Nov 19, 2008
Second mainstream article on Edinburgh price falls!!!
The Telegraph: Edinburgh house prices fall 11.4 per cent
It's official. The credit crunch now has Edinburgh in its grips. More than £20,000 has been wiped off the average value of an Edinburgh home this year, according to The Edinburgh Solicitors Property Centre, and the number of homes being sold has halved...............like London this city will be hit hard
Posted by titaniccaptain @ 11:50 PM (575 views) Add Comment
4 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. quiet guy said...
"rather than eat humble pie, estate agents in Edinburgh are now claiming that Scotland will lead the house price recovery."
Rather unlikely I suspect - in fact I wouldn't be surprised to see a Scottish recovery lag behind the rest of the UK.
"Savills forecasts that prices in Scotland will rise 2 pc in 2010, compared to 1 pc across the UK."
Oh, excuse me. That's the kiss of death for the Scottish market (for regular blog readers). Considering Savill's recent track record in house price forescasting, there is no comfort at all in a 2% rise in 2010.
2. sosoon said...
Edinburgh always maintained through its official propaganda machine; The Scotsman, that there would be no property slump in Edinburgh due to the strength in the financial services industry. Its now quite ironic that the financial services sector will make the property crash so bad.
Next year HBOS will announce sector-destroying redundancies along with massive lay-off's by other financial institutions.
Its financial blight.
3. japanese uncle said...
Thanks to the depression in most part of Europe and US, tourism, Edinburgh's another traditionally prosperous sector will suffer badly as well. Price for B&B will have to plummet back to 20 quids or less from the current lunatic 40-50. A pint of Guiness back to 1.50 from current lunatic 3.50 in some vicous pubs. Having said that, number of tourists from Japan will double next year thanks to 43% appreciation of yen against GBP in just 17 months(!!).
4. mark wadsworth said...
Dinnae ye fret!
The SNP are going to fix this by replacing Council Tax with local income tax, which will go towards reflating the bubble and benefitting property owners at the expense of the productive economy! Further discussion here.