Jump to content
House Price Crash Forum
Sign in to follow this  
DoubleBubbleTrouble

Edinburgh

Recommended Posts

Due to my neighbours flooding my flat, for the 4th and 5th times in the space of 2 days, my figures were done on Sat instead of the usual Thursday. Hence the trend might be slightly off.

The only things of note this week are that there was a bit of a suspicious drop in the number of flats in Leith for sale... very odd. Other than that the FP trend continues up the way as a percentage now hitting 54.56%.

                         09/06   16/06   23/06   30/06   23/07   28/07   06/08                                                               Central Bungalows       0       0       0       0       0       0       0        Flats           179     190     202     204     177     185     181        Houses          11      11      12      10      7       7       8                                                               East    Bungalows       14      13      14      15      18      17      20        Flats           373     375     382     383     370     363     338        Houses          57      61      59      62      52      52      49                                                               North   Bungalows       15      15      17      15      17      19      18        Flats           145     146     163     153     143     143     142        Houses          73      78      82      82      76      79      76                                                               NWest   Bungalows       3       4       4       4       4       4       4        Flats           4       4       5       6       5       7       7        Houses          23      23      27      25      30      30      30                                                               South   Bungalows       16      13      18      19      19      17      15        Flats           216     223     226     235     238     236     238        Houses          93      95      86      86      91      86      82                                                               SWest   Bungalows       1       2       2       3       3       3       3        Flats           3       3       2       3       3       3       3        Houses          14      15      16      16      21      19      14                                                               West    Bungalows       0       0       0       0       0       0       1        Flats           79      82      86      84      82      82      79        Houses          13      16      15      16      14      13      14                                                               Totals  Bungalows       49      47      55      56      61      60      61        Flats           999     1023    1066    1068    1018    1019    988        Houses          284     299     297     297     291     286     273                                                                       Grand           1332    1369    1418    1421    1370    1365    1322                                                                       Total Props     2807    2780    2771    2658    2519    2504    2423        % FP            47.45%  49.24%  51.17%  53.46%  54.39%  54.51%  54.56%

Share this post


Link to post
Share on other sites

Hi DBT, sorry to hear about your flooding problems, not pleasent, hope it gets sorted out. Thanks for your figures, very interesting as always. Maybe sales down due to Fringe Festival starting.

Did you see Krusty and Fil programme last night, 10 best and worst places to live.

Scotland not included. Wonder why? Any thoughts?

Keep up the good work, thanks

Sorry might have posted this twice.

Share this post


Link to post
Share on other sites

.......... and I just moved from Epsom (voted number 1 place to live in the UK) to Edinburgh (not mentioned!!). Anyway I can vouch for the fact that Edinburgh is miles better, Epsom is DULL, no culture, full of office blocks and traffic (and I grew up there so might be biased!!). Edinburgh is beautiful, good schools for the kids and I can get into the city centre in 10 mins one way and to the hills 10 minutes the other way. No Contest!! (and when the prices crash might even be able to afford a house!!).

Share this post


Link to post
Share on other sites

No much sign of a price crash in Edinburgh to be honest, my dad's house which was valued at £105,000 just under three years ago was valued today at £140,000.

Share this post


Link to post
Share on other sites
No much sign of a price crash in Edinburgh to be honest,  my dad's house which was valued at £105,000 just under three years ago was valued today at £140,000.

Now if you had it valued just over a year ago and compared it to today that would be interesting. However your timescale still factors in a multitude of sins.

Share this post


Link to post
Share on other sites

I think the best place to check would be nethouseprices. Valuations can be very different but the test will always be once it is sold. Anyway I hope he does do OK.

However my biggest price fall I have seen is from £399 - £325 k ,£74k since last year. That is in Corstorphine! I think they had some bad advice last year.

Share this post


Link to post
Share on other sites

It's good to see there are some optimists out there. Views like moncs's will help prevent a total house price meltdown. Moncs even if you could take your dad's flat's valuation as a reliable proxy for actual prices, it would imply a total return of 33%. But remember that annual hp growth in Edinburgh for Q2 2002/2003 18.57% and Q2 2003/2004 13.21% (ESPC figures) . Which implies, if I got my calculations correctly, that your father has made a paper loss for Q2 2004/2005: -0.67%. However, as valuations tend to be overoptimistic and lag the actual market, my guess is that the drop is bigger than that.

Skye, I know of a similar case down leith links FP 425,000 and it finally sold for 360,000 (15.3% discount). But I disagree with your view that they were ill-advised, I think they actually did the right thing. Probably the sellers were overoptimistic when they put the house on the market, as prices were still growing strongly in Q1 2004. But when they realised the house wasn't shifting they accepted such an apparently low offer. In your case it represents a 18.55% price cut, probably less if compared to what they thought would have been a fair or acceptable price. In this year's market they might've had to accept an even lower offer.

Does anyone know what happened to the pre 2004 reports on the revamped ESPC website?

Edited by Thistle

Share this post


Link to post
Share on other sites

I think the FP originally was overvalued hence my dig at "valuations".

I think the ESPC have taken an opportune moment to lose some reports! However on the plus side they do have a link to nethouseprices. I think a link to this site HPC would excellent!!!!

Anyway I really want to buy soonish but now I don't wnt to end up negative equity straight away - even if FP. It will be interesting to see if there is pick up in September - however I am sure by then the ESPC will only be reporting regional prices such as east lothian that may still be moving up or even include Dundee!

Share this post


Link to post
Share on other sites
Does anyone know what happened to the pre 2004 reports on the revamped ESPC website?
I think the ESPC have taken an opportune moment to lose some reports!

I've got all the data from those reports in a spreadsheet somewhere... I wonder why they've taken it down...? ;)

Share this post


Link to post
Share on other sites
I've got all the data from those reports in a spreadsheet somewhere... I wonder why they've taken it down...? ;)

I have been tracking the houses for sale in my bungalow street in Corstorphine for over a month now.

Three properties were at fixed price when I first started logging in early July and had been on the market since at least mid-June. I noticed now that two of them were still there at the same fixed price as of the 13th.

The third house had disappeared from the ESPC listings, so possibly it sold but it was the most expensive property. I actually returned the owner's for sale sign after it had been dumped in my front garden. She was selling because of divorce/separation and had had little interest so far.

A fourth property came on the market at OO 260K but has since gone to FP 298K within four weeks.

So, the market has slowed in bungalow country, though I wonder what the average time to sell a house should be?

Share this post


Link to post
Share on other sites

I think we are looking at the same streets. I think at the peak two weeks and you would have sold. There seems to be a lot of coming on and off the market in some of these streets in Corstorphine. There was one fixed in early this year for £345 k I noticed it sold for £320k or £315 k on nethouseprices. That was for a detached bungalow but some of the semi are fixing at about this level. On the hilly side of Corstorphine there are quite a few fixed prices too. I know as I have been looking for ages you would never see a FP in Corstorphine - mind you the FP now look overvalued unless you are pretty well paid. Some friend are struggling to sell a 1 bedroom for FP £160k so they may have to lower their sites on the next rung up.

I think the stamp duty threshold a £250 k is beginning to affect this bit of the market.

Share this post


Link to post
Share on other sites
I think we are looking at the same streets. I think at the peak two weeks and you would have sold. There seems to be a lot of coming on and off the market in some of these streets in Corstorphine. There was one fixed in early this year for £345 k I noticed it sold for £320k or £315 k on nethouseprices. That was for a detached bungalow but some of the semi are fixing at about this level. On the hilly side of Corstorphine there are quite a few fixed prices too. I know as I have been looking for ages you would never see a FP in Corstorphine - mind you the FP now look overvalued unless you are pretty well paid. Some friend are struggling to sell a 1 bedroom for FP £160k so they may have to lower their sites on the next rung up.

I think the stamp duty threshold a £250 k is beginning to affect this bit of the market.

Thanks, nethouseprices.com looks useful. How long does it take for completed sales to appear on their website?

So, I guess, you are looking to move into Corstorphine?

Share this post


Link to post
Share on other sites

it takes about 5-6 months for the properties to appear as they use the land Registries figures. The solicitors at the ESPC have access sooner if you are buying. Would like to buy here but a bit pricey.

Share this post


Link to post
Share on other sites
it takes about 5-6 months for the properties to appear as they use the land Registries figures. The solicitors at the ESPC have access sooner if you are buying. Would like to buy here but a bit pricey.

Hopefully the howling of the monkeys won't wake you up in the morning.

Share this post


Link to post
Share on other sites
Can't afford to get that close!!! :rolleyes:

I could hear them from Clerwood. Sh*tty little 1960's semis going for 200K. :blink:

On reflection, though, I did enjoy walking up the hill to the tower.

Edited by gone west

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 301 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.