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Scary Bear

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About Scary Bear

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  1. In the area where I live and work (Fife/Edinburgh) i'm still waiting for house prices to 'crash'. It just isn't happening. Granted the house prices have fallen from the peak prices in 2007, but not as much as I expected. We're probably at the same level of prices from circa 2005/2006. However, as inflation has caused all fuel prices to rise, and food prices to rise, the price of these houses is even more unaffordable.
  2. The 55k flat is in 'need of modernisation' and I don't see any mention of a kitchen. Weird. I would assume the kitchen is in the living room, but possibly not.
  3. Just had a quick look and a lot of the mortgage lenders do now want a minimum of 15% deposit. However, the 3 year fixed mortgage I took out in 2009 with HBOS is still available with a 10% deposit. Paying £300k to £400k for a flat in Edinburgh seems utterly mental, but looking through some of the threads on here, that's still the price people are paying. That said, me and the missus watch these daytime property TV programs when we're not at work. The general topic of discussion is usually, "how the hell do these folk have £700k for a house".
  4. Has mortgage availability changed? In 2009, there was limited availability and you needed 25% deposit for a decent rate; if you didn't have at least 10% deposit then you could bog off. Has that changed any? Has sentiment (consumer confidence?) changed? You would have thought the world was ending in 2008/2009. Now people have at least accepted that things are bad and they have to just accept it and get on with things.
  5. How do you edit posts on here?
  6. I've not checked out the prices in Edinburgh for some time now, probably a couple of years since I did. Had a check today and noted that the last two flats that sold in my tenement went for £105K in August 2010 and £106K in May 2009. In June 2007 a flat in my tenement went for £119,440, so not back to that level yet, but still £10k more than the costs of flats in my tenement in 2006 (£89k and £95k). At the moment it looks like prices will just stagnate for a while rather than there being a huge drop. In that time wages will possibly catch up somewhat, making flats more affordable again. Then we can start the boom and bust cycle again. The again, maybe wages will also stay static for a while. It all seems a bit up in the air at the moment. Thoughts?
  7. £28k+ for a dilapidated old public toilet in Templehall in Kirkcaldy. Best laugh I've had in ages. Evidently there's a hot food opportunity, even though you'd basically have to knock it down and start again, and there's a chippy, chinese takeway and 3 bakers all within a 100 yards.
  8. http://edinburghnews.scotsman.com/topstories/9am-Briefing-City-house-prices.6071941.jp I noticed this in the Edinburgh Evening News. EDINBURGH house prices rebounded by more than 11 per cent in the last quarter. The average value of a house in the Capital is now £201,687, up 11.4 per cent on the last quarter, according to Lloyds TSB Scotland. However, prices remain 8.9 per cent down when compared to January last year
  9. That flat is in need of modernisation, has single glazing and has partial electric panel heating. That's probably why it's on sale for that price. Prices seem to have bottomed out at around the £100k mark for pokey wee flats in Edinburgh. The real falls will come if the public sector makes major redundancies, as has been reported. I work in the public sector myself, and have been there just over a year, so I'm cacking it. I believe the majority of the pay-offs will come around April 2011, as that's when the changes to the Civil Service Compensation Scheme kick in. I'll start tarting up my CV in preparation. God knows who I'm applying to though, as there is talk of more redundancies in the private sector too. Maybe I'll get a window cleaning round, but I can't see that paying for my mortgage.
  10. I reckon that, if we say the average salary is £26k, then 3.5 x £26k = £91k. I think that's probably about the max that a single (sane) person would pay. That rule may be daft, but what can you do. 2 x salary would be heaps better. Abbeyhill is nice in the summer, in that it's next to Arthur's Seat and Holyrood Park and there are usually a few events on. That's the only reason I bought the place; location. I had seen numerous wee studio/1 bed flats in various areas of Edinburgh, but plumped for that one based on the location, and that I was getting tired of wasting my weekends and evenings doing viewings. Daft but true. I wasn't planning on selling the place anytime soon anyway. Oh! I just remembered about the minimum 10% or 25% deposit required by lenders. That would no doubt come into play too. I can't see many first time buyers having £9k or £23k spare. Just as well I'm not selling as I don't think there would be many takers. I noticed a lot of flats weren't shifting. Thinking about it, when I started looking to buy a flat in Edinburgh I wanted the following: -2 bedrooms -Private Garden -Bath I quickly realised that I would get none of these. That was quite depressing. In the end I was just glad I could get a place as that was never going to happen in London, where I was previously. Anyway, i'll keep my eyes on the market like the rest of you. Forgive me if I'm in the camp that hopes the crash doesn't come. Vested interests and all that.
  11. Thanks. No I'm not a troll. I have a 1 bed studio flat in Abbeyhill. I paid £92k fixed price in 2004 and felt like I had been robbed, but what could you do, I wanted somewhere to stay. The price was up at £130k in 2007 which I felt was nosebleeding expensive for a tiny wee studio flat, albeit in a reasonably central location. I reckon your prices are realistic, but I wonder whether they will drop that low. I don't think i'm on a great salary but less than 3 times it would buy you my flat at £92k.
  12. http://thescotsman.scotsman.com/latestnews...back.5541009.jp That bastion of truth, The Scotsman, is again reporting good news for the Edinburgh property market. Oops! poor spelling and wanted to add a bit. What price do people feel the prices will fall to in Edinburgh? Is their still a feeling the prices will fall further?
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