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GentlemansFamilyFinances

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  1. I was talking to some people who have moved to Edinburgh a year ago and now want to buy. They were previously worried about the mad dash for properties that they heard anecdotally, but now they say that their wish/shortlist properties are sitting around on the market unsold this summer. It puts the cat among the pigeon because they now think that they can afford more house for their money and they are thinking do they look at places in nicer areas (ideally around Murrayfield / Blackhall) or get a larger place further out. Property panic over?
  2. no shortage of places to stay this weekend either in Edinburgh!
  3. the farmer shouldn't have put his harm next to these homes.
  4. quite - distance from the centre is why I've been more times to Gorgie than to Leith - although they are just as bad as eachother.
  5. very interesting site. I love the map - and it's interesting that airBnB affects richer areas less - see Marchmont and a bit further south
  6. are the returns from AirBnB worth it? Voids must be significant, cleaning, fees, damage, furnishing costs - it all adds up. My point is that every extra AirBnB in Edinburgh just lowers the occupancy rate for everybody else. And prices seem lower than they were a few years ago in the city for the festival. What I would agree with is that I would not like to have all my neighbours as AirBnB flats - it's not good and need controlling/banning/taxing properly. I wish that the government was more proactive in doing something other than talking about the problem. In the same way that many areas of cities are destroyed by BTLers, AirBnB can do the same to Edinburgh - and even flush out residents from parts of the city that have been occupied for hundreds of years - turning central Edinburgh into a museum hotel.
  7. My point - which may be wrong - is that AirBnB doesn't increase the number of tourists coming to a city. It just displaces them from other options. I had a look at airbnb for this Friday and there are lots of places for reasonable prices. Some people are taking this p*ss but they'll not have anyone staying. Is there any evidence of buyers factoring in AirBnB rents into what they are willing to pay for a property? I know that if I could move to Edinburgh and looking to buy, it would be in my mind as a way to make some extra money.
  8. I don't know if many cities have done anything effective about it. I don't know if AirBnB actually increases demand for tourism in a city. I'm happy to be proved wrong - but it's not how I see it. Anecdotally, friends who are happy to rent out their house in Edinburgh have had no takers in August at all. Last year they had 2 weeks of bookings. £100 per night and a 3 bed house (albeit a long long walk from the grassmarket. )
  9. It can't still be the case that the Scottish government is still thinking that tourism is a universally good thing? The benefits of tourism are swallowed up by the property owners and the amount of money that goes to the actual local economy is minuscule. Can you imagine spending £100+ every night on a dinner, £100+ for entrance to attractions (even the rip-off Edinburgh Castle is less than this for a family) - but try finding suitable accommodation for a family/group for less than £100 a night at any time of the year anywhere in Scotland. If you live in a place popular with tourists, the demand for B&Bs or AirBnBs, second homes or homes for blow-ins, local people can't afford local homes. The same is happening in Edinburgh as we speak.
  10. the new build homes that are available under help to buy don't help much either. Buying a second hand home means you need to tackle DIY problems (and it can be easy to learn what to do) - but a lot of people can't afford to buy without help to sell buy.
  11. £150k will give you a decent income / return if you invest in diversified ETFs. Think about where you can put this to make it tax efficient and when you might need the money (pensions/LISA/ISAs). Lucky position to be in!
  12. With interest rates jumping up 50% - trying offering 50% off the asking price. There is logic in this!
  13. I was trying to find a replacement door rim lock for a door - quite an old type and I've had no help from the stores I've gone to. The best advice was to change the door!
  14. Start of the festival in Edinburgh today. I had a look at airbnb - for an entire flat for 2 people for today (Friday 3rd) until Sunday there are HUNDREDS to rent and several for less than £100 (which is what I would think is a fair price). Most of the places for 2 people include a sofa bed and can fit 4. My thinking about AirBNB is that it ultimately doesn't increase the supply of tourists into a city - so whilst you can make £3000 over the festival renting out your flat, not everyone can do it. My hope is that as an opportunist occasional tourist to Edinburgh, there are some bargains to be had this August
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