New Scotland Figures On Bbc

[roblpm]

http://news.bbc.co.uk/1/shared/spl/hi/in_d.../region12.stm?q

New figures today I think??

Does anyone know where the BBC get these figures from??

Scottish borders down 14.5% in last quarter

Dumfries and Galloway down 11.9%

etc etc

[schadenfreude]

They must have made up the numbers - everyone knows that property only ever increases in value.

[Offshore Joe]

From reading the notes at the bottom of the article, the Scottish figures are from

Jan to March this year - so the next figures will probably show the price falls accelerating even more.

[roblpm]

Hmmmm

I read that too but I think thats wrong, from looking at the Scottish Land Registry the figures for April-June are imminent so I think that these are probably those as they have only just changed, unless it takes the BBC from the end of May to update their site (when the Jan-March figures were released).

[Nomadd]

They must have made up the numbers - everyone knows that property only ever increases in value.

<{POST_SNAPBACK}>

Yes, and wasn't Scotland (and Wales) supposed to be a "hotspot" that always masks the falls in the rest of the country?

Like you say, must be some kind of mistake. Maybe they read the graph upsidedown?

Nomadd

[RET]

I noticed that the stats for last quarter were also wrong. I wrote to them and they said:

"Thanks for your e-mail.

These data are supplied as a spreadsheet by the Land Registry itself,

we don't process them in any way apart from publishing them to the site.

We had hoped to have published the Q2 data by now, unfortunately we

experienced technical problems doing so.

I how hope that they will reach our site on at the end of play on

Tuesday or Wednesday morning at the latest - although I can't vouch for

that.

Regards,

Tim Weber

Business Editor

BBC News Interactive www.bbc.co.uk/business

Edited August 18, 2005 by RET

[roblpm]

RET

England and Wales is seperate to Scotland, different Land Registry so I think they publish at slightly different times

[Offshore Joe]

Assuming thse figures relate to Q1 2005, over 20 (Twenty) of the Scottish areas show price falls. The largest quarterly fall being Scottish Borders at -14.5%.

(Extrapolate That over a full year....)

Q2 figures should be very interesting when they are published.

Just musing - would this indicate the real crash starting in more outlaying areas and then rippling inwards?

[The Fish]

I live in the central Borders, sold in the west coast 2 years ago and have rented here since. Things have been ridiculous over the last 4-5 years, most prices have risen 200-300%. During this year a definite change, many more fixed prices and overpriced properties languishing on the Borders solicitors property site.

There is a lot of development, exploiting the commuter market for Edinburgh. Very few locals can afford to buy, although new "exclusive" or "executive" developments are being required to include "affordable" housing (i.e. some Housing Association flats to rent).

One of the local solicitors has a slot on Borders Radio where he talks up the market and advertises his own properties. You can even win a bottle of bubbly by guessing how much over the "offers over" price a described property went for. Talk about rubbing it in! Anyway, this week he said now that interest rates were on a "downward trend" it was a great time to buy. Someone emailed in a question about a 4 bed place on at 145k fixed (no idea where). Why hasn't it sold in months? Guess the only answer he didn't suggest? It's too expensive :angry:

I think the Scottish system is a complete stitch up. The solicitors will not advise their buying clients to bid low or under asking price because they don't want to affect the market conditions that are bringing in high bids on the properties *they* are marketing.