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House Price Crash Forum

shamrock1

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About shamrock1

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  1. On EH7, and in general the East side of the city, prices seem to be plummeting (anecdotally, I didn't make a spreadsheet). Lots of fixed prices, getting reduced to lower fixed prices etc etc Really seems to be moving at quite a nice pace
  2. There have been more fixed prizes on epsc over the past month or two, especially on the East side of Edinburgh. But look at the value of the fixed prices. Crazy! Tenement flats have increased a lot in price over the last year. Concrete example: I am paying 500 per month for my tenement flat. A similar flat in bad condition on my street sold recently for 165000 (in good condition it would definitely be more). Do the figures on that - with an Interest-only mortgage at 5.75%, the monthly payment is 790/month. My rent is a bit cheaper than the going rate, but not by much. I don'
  3. Don't get too excited.. If you check each of the individual categories under the "Edinburgh and Lothians" heading, the total of new properties is 340. I think the jump is more likely to have something to do with ESPC adding categories for Glasgow and other areas in Scotland (they might have imported a lot of properties when they did this). The Edinburgh market at the moment is great for sellers - there is hardly anything on the market, and lots of (crazy) buyers. One of the people at work who is moving away just sold his flat in 2 weeks of advertising it (6 offers in total).
  4. Check out the "Registers of Scotland" statistics on the BBC website: http://news.bbc.co.uk/2/shared/spl/hi/in_d...ces/html/qp.stm These figures have recently been updated - down the bottom they say the period is July-September 2006. Look at the figure for the quarterly increase for Edinburgh ... that's what it looks like from the ground also I have to say. We've not there yet
  5. I agree, I'm living in Edinburgh and over the last 6 months prices seems to be very high (at least in Edinburgh central and East). It has been very disappointing to watch these rises start again after a bit of a lull in Edinburgh during 2005. I am not sure the land registry figures will confirm these Lloyds bank figures, let's wait and see
  6. I live round there and it is a really lovely area. Very close to the city centre, and also nice and quiet (that development is well off the main road). Lots of nice restaurants/bars on Leith Walk, also if you walk to Inverleith and to the Botanical gardens. Don't know anything about that particular development, but at current crazy prices and for the size of flat/quality of area, 189000 is good value (in the mad world we live in).
  7. I've seen that thread before, maybe 2-3 years ago ... They have no dates on it I know, but those comments have been there for ages (I particularly remember the guy from PA)
  8. I rented my current flat about 4 months ago from DJ Alexander (very nice, £500 a month for a big 1-bed flat which would sell for £155000). When we got back in the car to drive back to the office, the agent started talking about the buy-to-let market. He was commenting that the monthly rent for a large 1-bed or even a 2-bed in Edinburgh is only 50-100 more than for a small 1-bed (this is really true in Edinburgh). He had bought a small 1-bed flat, and he lets that out to someone, while he pays just a little more per month to live in a much bigger flat (rented from someone else) .
  9. I'd be a bit careful about the assumption about the rent. It depends a lot on where your flat in - for a 2-bed, you'd only get that price in a very hot area (600 pounds or less is much more typical). I know because I rent and there are lots of properties available, lots of bargains out there.
  10. I saw that before! And I don't think Edinburgh is a ghetto at all. I think it's a great city. I agree prices are way too high. I also know that they fell (in real terms) a year ago. But right now, they are on the rise agin.
  11. Yes, the earlier figures (showing qtr 1.1, annual 4.7 for Edinburgh) has been on the BBC website for a few months now. Look at Edinburgh now, 5.3 quarter, 9.2 annual. As a (non)First-time Buyer, living in Edinburgh, I'm sorry to report that this mirrors exactly what I've seen on the ground since New Year. There have been a lot of sales going through at higher prices. an unhappy bear
  12. You are always better paying the extra money directly into the mortgage rather than a saving account *unless* you are able to find a savings account which gives a higher rate of interest than the rate charged by your mortgage (+ any extra charges). [or if you have some master plan to make some great investment which you will use to pay off the capital] If you are saving all this money every month the right thing to do is to take out a repayment mortgage and shorten the mortgage term so that you are paying more in each month. You can use the calculator at the following website to se
  13. unfortunately property seems to have had a big bounce here in Edinburgh. It started in February and is still going strong. Quite a bit is selling and prices are up. The sales stats for Q1 and Q2 of 2006 are available at: http://www.espc.com/EspcPublic/Content.aspx?pid=20 They show 12% up for Q2 (over 2005) and 8% for Q1. Also volume is up. Although I'm always supicious of stats I know prices on my own street have risen this spring - large one-bed flats like the one I rent are now going for 180000/185000 after being stagnant at 165000/170000 for 2004/2005. (And renting for 500/mon
  14. This is an old, old survey. I remember reading it about 2 years ago! (I know there's know date there but I remember the remarks about Wilburg PA)
  15. Not always. For the past 3 years I pay 500 a month for a beautiful flat in central Edinburgh. The current value of flats like this is 180000 (after being stagnant for about 18 months, recent sales show prices have increased by about 15000 this spring). So what is that? About 3.5 a year.... Much better than buying for me.
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