roblpm

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?

savetheclaypigeon welcome aboard!! One more convert!! When we convert the other 448,624 (2001 census) to our way of thinking all will be fine!! I agree with you that "the level of delusion in Edinburgh seems to be very, very deep." but prices are definitely less than they were a year ago which is a start. Also with transaction volumes at 400 a month the Estate Agents/Solicitors are either going to have to get people to drop their prices or be out of a job. The Single Survey that is coming in later this year and the fact that prices are dropping is just about putting paid to the offers over system. So keep calm!! (Thats what I keep saying to my wife who wants to buy!!)

I was offered a Barrat flat on for £152k in Bathgate Scotland for £99k. That was without even being interested in buying a flat in the first place! I imagine if I had haggled I could have got 50% off.

He was on the BBC news at 10 last night saying the problem wasn't subprime, but too much debt taken out over here. I think he has been reading HPC! Also interesting to hear how many people in press saying a return to 2007 lending as encouraged by the government is a bad thing not a good thing. Seems like at last the message is getting through! I have to say personally I think it is all the governments fault. If you run a business and want to be irresponsible then so be it, it is the regulators job to make sure that the actions of businesses don't hurt other people. The banks are a convenient target.

I'm so bored waiting for something to happen that I went back to the ESPC quarterly report. One interesting thing is that the September turnover is roughly the same as August: Transactions from Quarterly Report: 1322 July Transactions: 522 (no accurate figure but says just over 500!) August Transactions: 400 (from quarterly report) Therefore September is about 400 as well. Q4 transactions were 2510 last year so should be well shy of 50% of that this year! More bust EA's and Solictors!

These are asking price cuts though. Totally meaningless.

Have to say I quite fancy the 03 Range Rover £13,500!! I paid £11k for a crap Merc C Class 180k 54 2 years ago!

ccc, nice figures. What strikes me is the moronic attititude of people in Edinburgh that even after the Northern Rock debacle and the start of the credit crunch a year ago they were insisting that this wouldn't affect edinburgh. The transaction figures for Q1 2008 are astonishingly high. So we are a year behind down South. The fear is kicking in now though!!

Jadoube Welcome to the surreal world of Edinburgh property prices! I think in 9 months you will be OK actually. Nothing is shifting here at all, EAs are all going bust and laying off staff. Sooner or later you will be able to pick up a bargain. We are however a bit behind the curve, how about renting up here for a bit after you sell down South? Might have 10 years to choose your ideal house befor the prices start picking up again! We are renting for about 4% pa of the purchase price!

BBC quoting 17% falls in a year. Will be much more than that for real soon. I was just offered a Barratt 3 bed flat in Bathgate in Scotland for 99k, on Barratt website for £152k. Was told it was valued at £175k a few months ago. Dont worry I'm not interested, was my bank manager offering who is a mate of the site manager! (PS I dont know how to spell barratt!)

Pot Noodle, excuse my ignorance but could you expand on the theory about 2004 prices??

Couldnt agree more, wages are pretty poor compared to london, yet people are paying london type prices.

Still falling??!! According to most indexes Edinburgh, where I am, is still going up!!!!!

You mean RPI from July 2007?? So to say July 2009 would give something like at rpi 4.5%: So for a 300k house You get 300 - (300*.4) = 180 Inflation = 180k (1+.045)^2 = 196.56 Anyone else agree?? Near enough 2/3 And you say advertised, shouldnt that be sold price??

Sorry to talk about house prices ....................! 1) No-one knows where house prices will bottom out. I suggest most on this forum (including me) called the top far too early and therefore I don't have that much confidence myself in calling the bottom. 2) My wife would like to buy a house! So what I am trying figure out is this: Assuming you know what house you want and you know how much money you have or could borrow I think a more sensible way to decide when to buy is when house X costs Y. So what is Y?? If you choose say 2002 prices should this price then be inflation adjusted forwards to say 2009?? And how much is that? Anyone got a good method of calculatin gforward inflation? Or should it not be inflation adjusted? Or should it be generated on the rental yield (though low for family houses in good areas?) Or should it be calculated on 3.5 times earnings? But thats a bit difficult for a specific house? Any ideas how I can generate a pseudo scientific methodolgy??

3rd Quarter ESPC drivel out ................... http://www.espc.com/EspcPageMedia/Property...rts/2008-Q3.pdf zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz

Anyone care to commetn on what percentage of GDP this is?? My concern has always been that this will cause a recession as our economy seems to be built on MEW and shopping (for 50" plasma screens). It is interesting that it is all happening much faster this time. Does this mean the 15 years we are expecting until the upturn might be shorter!?! Anyway I hope it is shorter to the bottom as the mrs aint gonna wait much more than 2 more years!

I think we will see a lot of this. Edinburgh is probably the worst place in the country for peopl ethinking that their house is "worth" something.

Check it out: http://www.myhouseprice.com/marketanalysis...lysisCharts.cfm Stick in edinburgh as the series

How can net lending be down by 95% in a month if approvals arent that far down?? Anyone car to explain this??

Anyone know who to email in the government to express our support for home reports??

Best thing about teachers is their defensiveness and lack of sense of humour when you mention the 13 weeks holiday...............

Only about 2 threads on the main forum front page directly talking about house prices!! Land Registry thread sunk without trace! Oh for teh old days when half a percent here or there was debated for days!!

I wonder if the ESPC will go bust!?! I recall losses of £1million last year, will be more than that this year for sure! Thats why our biggest friends are going to be the EAs and ESPCs of this world as they finally realise they are all going to be out of a job unless there are a few transactions, and the only way that is going to happen with be by lowering the prices. Lunch with a HBOS business manager today and attended a meeting with a talk from the Scottish agent for the BoE, both gloomy to say the least! We haven't even seen the start of this yet as there are going to be very few mortgages given out for years!

I would like to point out that the thread title was ironic! I wonder when the ESPC etc will try to delay the introduction of the single survey. It will be ineretsing t see if you can only get a mortgage on the survey price. Good points made by mattn. I think this will be espcially true in a falling market.