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roblpm

One Million Pound Home Market Grinds To A Halt

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Yeah, but they don't say who estimated - I would assume Rettie, since they were quoted in the article, but they're not the only ones in that market sector.

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A remarkable statistic:

It is estimated that around 40 per cent of all properties sold for more than £1.5m in recent years have been to HBOS and RBS executives relocating to Edinburgh.

I saw that statistic as well (indeed, I even brought it up the the "Edinburgh latest" thread; not that I'm bitter or anything) and I was very surprised. I now realise that I'm not exactly sure what an "executive" is (and Google isn't helping), but the 40% figure would tend to suggest that the banks are stuffed full of them. Over the last couple of years we've been hearing that £1 million pound houses were being sold at the rate of 2 or 3 a week, so that would imply that these super-well-paid executives must be well into double figures. Who are they? What do they do? When are they leaving? Where will they go? How much will they get for their houses?

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Apologies scunnered, I realised that just after I posted (and that you are ahead of the curve!). I was just trying to kick some life into the Scottish subforum!!

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And to add some thoughts:

Edinburgh is quite a small economy compared to London, so I think if people lose their jobs there could be a reverse of the phenomenon of people moving up here from down South. Being from London myself (but self employed) I know that if I had a job in a big company and lost it I would wonder whether it would be easier getting a job in the smoke. I think people down south change jobs more often so there are usually some vacancies to chase.

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It is estimated that around 40 per cent of all properties sold for more than £1.5m in recent years have been to HBOS and RBS executives relocating to Edinburgh.

Hmm, given that we now own the banks, can I just swap some of what I am now owed (and the additional I am sure will be pouring into the banks) and have one of those nice houses as compensation?

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Apologies scunnered, I realised that just after I posted (and that you are ahead of the curve!). I was just trying to kick some life into the Scottish subforum!!

That OK, I just enjoy having something to moan about! I loved the comment about how the people in these houses had "good, safe debt". If their figures are correct then it would seem that there must have been rather too many chiefs at RBS and HBOS, and as you point out, these kind of people will probably have a better chance of getting new jobs in London or elsewhere (plus they probably don't have anything particularly tying them to Edinburgh)

Incidentally, someone's got a thread in the off-topic forum about a Guardian journalist who was trying to track down Fred Goodwin in an effort to extract an apology from him. It's quite amusing, although I almost ended up feeling sorry for Sir Fred in a Saddam Hussein kind of way.

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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