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DoubleBubbleTrouble

Edinburgh

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I'm back after having to take a break for a while.

Two interesting things have happened in my absence. Firstly and very unexpectedly the number of unsold properties in Edinburgh has jumped back up by 132 to 2555. Secondly the overall number of Fixed Prices as a percentage has lowered to 49.43%.

The lowering of the overall FP percentage figure appears to have been driven by 3 factors;

1. There is a growing band of properties after going OO->FP are now trying FP->OO perhaps reflecting frustration of owners at not being able to shift their properties on FP.

2. 40 odd of the FP flats in Edinburgh South have disappeared, at least 10 of these have reverted to OO after previously being on FP.

3. There is a quite a chunk of new properties available pushing the overall FP figre down.

                         09/06   16/06   23/06   30/06   23/07   28/07   06/08   01/09Central Bungalows       0       0       0       0       0       0       0       0        Flats           179     190     202     204     177     185     181     181        Houses          11      11      12      10      7       7       8       7                                                                       East    Bungalows       14      13      14      15      18      17      20      12        Flats           373     375     382     383     370     363     338     335        Houses          57      61      59      62      52      52      49      49                                                                       North   Bungalows       15      15      17      15      17      19      18      16        Flats           145     146     163     153     143     143     142     132        Houses          73      78      82      82      76      79      76      75                                                                       NWest   Bungalows       3       4       4       4       4       4       4       3        Flats           4       4       5       6       5       7       7       7        Houses          23      23      27      25      30      30      30      27                                                                       South   Bungalows       16      13      18      19      19      17      15      16        Flats           216     223     226     235     238     236     238     196        Houses          93      95      86      86      91      86      82      81                                                                       SWest   Bungalows       1       2       2       3       3       3       3       6        Flats           3       3       2       3       3       3       3       3        Houses          14      15      16      16      21      19      14      15                                                                       West    Bungalows       0       0       0       0       0       0       1       1        Flats           79      82      86      84      82      82      79      86        Houses          13      16      15      16      14      13      14      15                                                                       Totals  Bungalows       49      47      55      56      61      60      61      54        Flats           999     1023    1066    1068    1018    1019    988     940        Houses          284     299     297     297     291     286     273     269                                                                               Grand           1332    1369    1418    1421    1370    1365    1322    1263                                                                               Total Props     2807    2780    2771    2658    2519    2504    2423    2555        % FP            47.45%  49.24%  51.17%  53.46%  54.39%  54.51%  54.56%  49.43%                                                                               Headline number 6255    6251    6228    6108    6000    5854    5786    6113

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DBT, good honeymoon??

I noticed in Morningside a house go from FP to OO which surprised me!!

Stuff still selling round here but I think its offers under the fixed price, will have to wait and see on NH prices.

Still too expensive!!

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What makes me laugh is that every (English) property programme filming in Scotland repeats a mantra saying "in Scotland the system is different and you have to offer 20% over the asking price."

Total rubbish, but certainly enough English buyers in Edinburgh and elsewhere believe it.

A friend selling a flat in Auld Reekie told me the English buyer even said "I know I will need to offer 20% over the asking price."

No wonder so many people now put offers over - and pray for a rich English type from the South!!!!!!! :P

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I noticed in Morningside a house go from FP to OO which surprised me!!

Here's a classic example of what I'm seeing;

- Flat I've been watching in Bruntsfield

09/05/2005 Overs Over £195,000

16/05/2005 Fixed Price £235,000

02/06/2005 Offers Over £189,000

16/06/2005 Fixed Price £225,000

01/09/2005 Offers Over £175,000

Down £20K in 4 months and still not sold... in Bruntsfield!

I've spotted quite a lot of places like this.

DBT, good honeymoon??

Crikey we haven't even booked it yet... still several weeks to the wedding (me nerves are shattered already!).

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Here's a classic example of what I'm seeing;

- Flat I've been watching in Bruntsfield

09/05/2005 Overs Over £195,000

16/05/2005 Fixed Price £235,000

02/06/2005 Offers Over £189,000

16/06/2005 Fixed Price £225,000

01/09/2005 Offers Over £175,000

Down £20K in 4 months and still not sold... in Bruntsfield!

I've spotted quite a lot of places like this.

Crikey we haven't even booked it yet... still several weeks to the wedding (me nerves are shattered already!).

Hi DBT, nice to see that you are back. I think these prices are still too high. 20k reduction is nothing compared to how the prices have risen in Edinburgh over the past 5 years.

Also, if I were a buyer, I would not trust the fixed prices either, I remember reading somewhere that some vendors who put their property on at fixed price were telling buyers that they had been gazumped.

I think it will be well into 2006 before sentiment changes in Scotland.

I note that Edinburgh, Glasgow, aberdeen and Dundee are slow markets at present. It will be interesting to see what happens this time next year.

Or do you believe that things might change sooner?

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Crikey we haven't even booked it yet... still several weeks to the wedding (me nerves are shattered already!).

I was sick as a dog on my wedding day! After 13 years of marraige and 3 children, now I know why! :lol:

All the best and don't worry (too much) because things could have been much worse. You could have bought a house instead. B)

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I think these prices are still too high. 20k reduction is nothing compared to how the prices have risen in Edinburgh over the past 5 years.

For sure... long way down to go.

I note that Edinburgh, Glasgow, aberdeen and Dundee are slow markets at present. It will be interesting to see what happens this time next year.

Or do you believe that things might change sooner?

I think there's a good chance Edinburgh and Glasgow will start heading south faster sooner rather than later given the slow season is upon us.

There's a lot of unsold property that's been hanging around for a long time now. Sooner or later those people are going to have to take action to shift it or not bother moving themselves. Either way that's going to make things worse and it will snowball.

Plus the steadily deteriorating situation down south means there will be less equity that can be splashed out on holiday, BTL and student accomodation up here.

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Hello to one and all.

I have been following the Scottish housing market for the last couple of years via the internet. I plan to move back from Australia at the end of the year and this site has been very interesting and helpful so thankyou and well done.

From a personal point I am looking at Glasgow (southside in particular) so any info on how you see prices moving here would be appreciated.

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Hello to one and all.

I have been following the Scottish housing market for the last couple of years via the internet.  I plan to move back from Australia at the end of the year and this site has been very interesting  and helpful so thankyou and well done.

From a personal point I am looking  at Glasgow (southside in particular) so any info on how you see prices moving here would be appreciated.

I think the southside has reached its peak price wise, but most properties still seem to be moving fast unless they've been grossly overpriced. There are a couple of flats that have been "modernised" to make a one bed flat with large dining kitchen into two bed flats with an internal kitchen - they don't seem to be moving at all. I think sellers seem to be more realistic about what they'll get, and expect prices to go down gently into the next year. Depends on the price range though - I've only been keeping an eye on the larger style 1 bed flats which are going for £105,000 to £110,000 at the moment.

New builds seem to be different though - the ones up at Riverford are being discounted by 25%

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I think the southside has reached its peak price wise, but most properties still seem to be moving fast unless they've been grossly overpriced. There are a couple of flats that have been "modernised" to make a one bed flat with large dining kitchen into two bed flats with an internal kitchen - they don't seem to be moving at all. I think sellers seem to be more realistic about what they'll get, and expect prices to go down gently into the next year. Depends on the price range though - I've only been keeping an eye on the larger style 1 bed flats which are going for £105,000 to £110,000 at the moment.

New builds seem to be different though - the ones up at Riverford are being discounted by 25%

Yes would agree with you scarecrow, I reckon southside has reached peak prices too.

It depends how much you can afford to spend.

Yes some of the larger 1bedroom redsandstone flats have been modernised to make two bedrooms and an small internal kitchen. I think the recesses from both the larger kitchen and sittingroom have been used to create the internal kitchen thus making an additional bedroom. Mind you, I would check planning consent has been giving, to ensure that no loadbearing wall has been demolished if the person from Aussie is/will be looking at these flats.

Prices in the eastend ie around Dennistoun seem ok and are going for a bit cheaper. But I guess you pay for the location and some buyers believe that the southside is a bit more up market.

Good luck, hope you find something that is affordable.

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Cheers guys you have confirmed what I thought. One of the most important things for me is location I swapped a nice new house in miles and miles of suburbia for a old run down house needing work but near decent public transport,schools,shops,pubs,parks ect and it was the best move I have ever made.

I am really after a semi-detached or terraced house with a garden but like most folk on here not wanting to become a slave to a mortage so holding back from buying and renting looks like a good option at the moment just have to convince the wife.

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  • 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%



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