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Edinburgh Prices Compared To 2007

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Hello everyone,

I am new on here so first time poster.

Could anybody tell me how edinburgh city centre prices compare now to Q1 2007 ?

Either a % increase or decrease would be great.

I have checked the halifax and nationwide index but thats for scotland as a whole and i am looking for edinburgh specifically.

Many thanks and i also await a price tumble

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Hello everyone,

I am new on here so first time poster.

Could anybody tell me how edinburgh city centre prices compare now to Q1 2007 ?

Either a % increase or decrease would be great.

I have checked the halifax and nationwide index but thats for scotland as a whole and i am looking for edinburgh specifically.

Many thanks and i also await a price tumble

http://www.nethouseprices.com/index.php?con=Search-Sold-House-Prices

Knock yourself out :)

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http://www.espc.com/EspcPageMedia/MarketWatch/ONGOING_MARKET%20WATCH_QUARTERLY.xls

compared to Q1 2007 edinburgh city centre prices have risen by 10%.

However, Q1 is invariably lower than other quarters, and ESPC data is not seasonally adjusted.

If you look at Q2/Q3 2007 then prices are broadly flat compared to now. However, sales volume is around 50% lower.

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Do bear in mind that the ESPC, who produce the quarterly stats above, consider them to be significantly skewed by the fact that sales volumes are low and only the bigger money no object type properties are shifting.

They are expecting the scew to drop out during the end of this year, start of the next.

In reality, theres a good chance your more typical ftb property is much lower than 2007.

You can check out different areas and property types in the excel sheet fflump has linked.

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Do bear in mind that the ESPC, who produce the quarterly stats above, consider them to be significantly skewed by the fact that sales volumes are low and only the bigger money no object type properties are shifting.

They are expecting the scew to drop out during the end of this year, start of the next.

In reality, theres a good chance your more typical ftb property is much lower than 2007.

You can check out different areas and property types in the excel sheet fflump has linked.

As geneer says-ESPC data is not mix adjusted so if proportionally more properties sell at the upper end then this can skew the average price upwards. To this end you are better off paying attention to their analysis of specific property types IMO.

Particularly FTB flats like 1-bed gorgie type which are down around 17% from Q2 2007.

Moving up the scale, 2-bed marchmont/bruntsfield flats are pretty flat over this period.

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Do bear in mind that the ESPC, who produce the quarterly stats above, consider them to be significantly skewed by the fact that sales volumes are low and only the bigger money no object type properties are shifting.

They are expecting the scew to drop out during the end of this year, start of the next.

In reality,

theres a good chance your more typical ftb property is much lower than 2007
.

You can check out different areas and property types in the excel sheet fflump has linked.

theres a good chance your more typical ftb property is much lower than 2007
.

Without a doubt this is broadly true. One bed flats are some 20% down in gorgie/Dalry etc.. I know someone who bought for £120,500, flat now valued at £100K in Gorgy...ouch.

Average prices are an indication. In there best context they are a sentimental indicator. The press see it like this; generally falling averages DOOM DOOM, rising averages YAY YAY. But in truth you need to pick the bones out of the data and see for yourself how the prices for your target home type are behaving---- this last paragraph is not aimed at you geneer (you already know this) but at the original poster

Edited by geed

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I live in a Victorian flat in Leith, not city centre, but it is good for making comparisons because in my street there are only 3 or 4 floor plans, so it is possilbe to compare several sales of more or less identical properties. There are several streets like mine in Leith where you can more or less tell the size of the flat from the outside. . I use

www.ourproperty.co.uk

to keep track of prices on my street, mostly because I'm a nosey neighbour with too much time on my hands, and although therre has been variability in prices, I'd say broadly they have stagnated

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Thank you to all who replied.

I am buying around the 450-500k mark.

I have seen a house that was around 450 in Q1 of 2007 but has been totally renovated, have considered offering 465 but the way things look now i may well hold fire.

Any suggestions ?

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Thank you to all who replied.

I am buying around the 450-500k mark.

I have seen a house that was around 450 in Q1 of 2007 but has been totally renovated, have considered offering 465 but the way things look now i may well hold fire.

Any suggestions ?

My suggestion is that if you want to spend £450k on the back of some anonymous BB posters' advice you need your head read. I also suggest you don't post inane threads about running over red deer and a lack of decent t.v. of an evening on a property forum.

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