roblpm

Self Do IT You are not alone!! Just seems that 4 million scots are oblivious to what is happening / about to happen. Have to say where I am (Morningside, Edinburgh) a flood of properties has just come on the market, all at aspirational prices. Will be interesting to see how many of tehm have sold by Christmas. I think it will be a long dark winter as the stats finally go negative for Scotland and Edinburgh, anecdotally know of many being laid off in the property / estate agents business. I think they will be our best friend as they will all go bust unless people drop their prices. Keep posting!!

Exactly my thought Masked Tulip. I just moved some money out of the Birmingham Midshires into my current account (RBS!) but need to stash it somewhere else! And BTW warpig I live in Edinburgh (nearly at the Flannan Isles) and we are behind the curve! I can not go out today and buy a decent house for 40-50% off the peak price, so that's what I mean by waiting for the HPC! So in the mean time I have to keep cash somewhere.

Banks going bust left right and centre, HBOS down 36% on the day!! Starting to think that even when the HPC happens wont have any cash left in the bank or a business left! So plan has to be to protect savings.................... Anyone know if the building societies are safer than the banks in general?? And is there a capital index or whatever on the banks to see who is most exposed?? Gold (bars under the bed??) Or should we give up trying to get a decent interest rate and stick it all in a NSI Investment account. Northern Rock??

I thought I would bump this thread as I dont think any of you are nearly excited enough about this!! http://www.scotland.gov.uk/Topics/Built-En...ing/Home-Report Starts 1st December!! Lets see if there is an influx of properties on to the market in the next 2 and a half months in order to try and avoid it. Or am I too excited, need something to keep the faith. Mrs wants to buy!! I keep explaining that 50k saved is 50k (and the interest!) I dont have to earn in the future!!!!!

Crikey a question that I can finally answer yes to! Book was mercifully short so managed to finish it!! However I'm not sure the analysis went much deeper than "Corporations are legally responsible to maximise returns to shareholders, thus are not much good for anyone else?" I have to say I thought this was pretty obvious. Isnt that what governments are for, to regulate? Who ever said that companies would do anything for anybody??

I actually think they might have subsidence problems! There is a small river runs past the bottom of the gardens at the foot of a steep hill so I think they might all be slipping in to it! That one you posted is hilarious! Can get something pretty good for £750k these days!

I thought it might be interesting for people to post properties that they are tracking on a seperate thread. And then hopefully in 6 months time update with the sales price?! Here's one from me: 81 Comiston Drive, Come straight on at FP £675K! (Interesting that they are not even bothering with OO). Even more interesting to see how they go vs April 2005 and Oct 2003 http://www.espc.co.uk/Buying/269263.html Anyway previously sold prices: 81 Comiston Drive, Edinburgh, Midlothian, EH10 5QT £525,000 Application No: 05MID10398 Title No: MID49615 Application Type: DW Deed Codes: 11 20 1 Application Date 21-Apr-2005 and 81 Comiston Drive, Edinburgh, Midlothian, EH10 5QT £466,161 Application No: 03MID25065 Title No: MID49615 Application Type: FR Deed Codes: 11 20 Application Date 03-Oct-2003

Prices already down in Morningside. 100% Guaranteed!

Have to say that the sample was so low (400 houses sold) that the figures are surely meaningless. Will be much more interesting to see if edinburgh/scotland catches up with all the other indexes.

Are they the same traditional stone built houses that increased in value by about 30% in the last coupl eof years? I can't understand why people think if a house has gone up that fast for no particular reason (ie change in demand/supply, economic conditions, wage levels, rental levels) and has only changed due to sentiment and easy credit why a fall of that magnitude would not be likely too?? From the market round where I am stone built properties falling like a stone too??

Interest rate cut in 2005

Angry Rob, I made the same point in the thread in the main forum. ESPC are our friend!! They need the transaction volumes or they are all going to be unemployed! BTW my name is Rob and I'm angry, is there room for 2 of us??!!

You know who is going to be our biggest friend on the way down ............ the ESPC. I find this instructive "It is the number of sales rather than the average house price that is of primary importance to the local economy" from the ESPC report. What they mean is "we are all going to be out of a job if transaction levels dont go up, so time fo you lot to drop your prices". My wife was talking to a friend who knows 3 people who have been made redundant from Edinburgh Solicitors/Estate Agents already and thats before anything bad has really happened. I think its also interesting that the ESPC just changed to monthly reporting from quarterly and got this out, I think they want price falls reported sooner rather than later. Anyway all we have to do is sit back and enjoy the ride! Just need to persuade the Mrs that these things are measured in years rather than months! I quite like living in a (very nice) rented house, dont have to do any DIY!!

I just heard on 5 live and on the BBC website, says in England??!! Very odd?? Is this right?? What about Wales and us up here in Scotland??? How are we going to benefit from this scheme????????????? I've never done this before......................................... Muwa ha ha ha ha ha ha ha ha ha ha

Well if you look at the history, prices were pretty flat between 2002-05 at about £350k which is sbout 30% off peak prices. I think I would be happy to go with that. So will be interesting to see what happens with this. I think it will go to FP £480 and sit there! Hopefully some more will com on soon too. Couldnt believe the lack of interest yesterday!

Just thought I'd start another Edinburgh thread!! Anyway just got dragged by the wife to see this: http://www.espc.com/Buying/268710.html Anyway regardless of the ups and downs of the property and the price that it should be we were the only people who viewed it this afternoon! A few months/years ago tehre would have been 20 plus people viewing. Might have been cos it was raining I suppose but something tells me contratry to what has been going on in England the Edinburgh market has only died a death in the last couple of months.

Just looking at sold prices from Spring 2008 in Morningside and amazingly I think after all this is done and dusted we will see that the peak in Edinburgh was actually Spring 2008 not Aug/Sept 2007 as in England. It appears that at least at the start the credit crunch didn't put people off, and that the mantra Edinburgh/Scotland is different was sustained due to positive press etc.

In Edinburgh the crash is still not accepted by the masses. I'm a bit worried the announcements next week could lead people to think that they don't need to drop their prices as everything "will be alright". How much of an effect do you think it will have. I'm still getiing over the 2005 interest rate cut which reinflated the ,arket for another couple of years!

Crikey CCC I was already worried about Scunnered and now you are posting at 6am on a Saturday morning. Is there something in the Edinburgh water that isn't affecting me??!! I wish I jumped out of bed that early on a Saturday!

Personally if we had bought in 2004 when we had the chance we would still be quids in! I can't see us being any better off in the end buying at 20-30% down now than we would have been if we had stayed in the market from 2004 on. So those of us who STR'ed too early will be even stevens maybe but not rich!

Can we keep track of crash stories?? Are there any?? When will the crash word be on the front page of the Sun??

Crikey, the ESPC say prices are going to fall??!! They must realise they are all going to be out of a job unless they can get the transaction volumes up. And the only way to do that now is to talk the market down!! BTW I think the word is "Skewed" and everone in Scotland tells me how much better the education system is up here compared to South of the border!!

I had this out with a mate who is a BBC journo. He actually does have 1 BTL but he says very few of his colleagues do and I have no reason to doubt him. I have to say this is one conspiracy theory I don't subscribe to. I do however subscribe to plenty of others ...........................................!!

Scunnered, I'm worried about you, you are either up too late or up too early!!

But if you look at the graphs there is some correlation to income and/or rental yields. ie you can talk about over or under valuation compared to these. The value at any fixed point is what someone will pay for it. But if you are looking for trends in price they are there to see??!!