Hi What a great site. I discovered it a few weeks ago and cant seem to stop checking - its addictive aint it?!
I live on the west coast of Scotland and am moving to the east coast so am keenly watching prices as I hope to buy in 6-9 months time. Any observations on property around Rosyth/kircaldy / dunfermline would be especially appreciated.
Heres my observations;
West Coast - IN the Inverclyde area (Popn around 100,000, reasonable level of employment, commuting distance to Glasgow 22 miles) I have noticed that the new "luxury" flats developments (Aimed I guess at commuters) dont seem to be moving. These were around £150,000 for a 2 bed flat. There has been a lot of new build / warehouse redevelopment flats in the former docks area as this gives easy access to the M8 and Glasgow but these flats always seemed way overpriced for this area. So I'm not sure if its a genuine drop in price or just a correction. Likewise the "luxury" development in Inverkip at the marina, £250,000+ for a 2 bedroom new build flat. (you can still buy a detached in a reasonable area for that here) Price cuts for both these areas are now appearing on the excellent "Property Snake" site.
No obvious sign of any drop at the bottom end of the market, however when I asked a local mortgage broker he said that a year ago most flats were going for valuation plus 20% whereas now he is seeing a signifiacant numbert of flats go for just under valuation.
As to the east coast there seem to be a lot of drops around 5/6% on property snake around the bottom end of the market. I hope this is a trend as thats where I need to buy. Does anyone have any insight on how this area is shaping up??