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All Time High ?

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yes, scotland is different..it's poor and impovrished and reliant, more than anywhere else, on the public sector, benefits and the goodwlll of the english tax payer. The scottish mps are bigger self serving gravy trainers than the british one. the population is falling, not increasing. Edinburgh is mad, glasgow is silly and the rest of the country is off its heed, with respect to house prices.

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yes, scotland is different..it's poor and impovrished and reliant, more than anywhere else, on the public sector, benefits and the goodwlll of the english tax payer. The scottish mps are bigger self serving gravy trainers than the british one. the population is falling, not increasing. Edinburgh is mad, glasgow is silly and the rest of the country is off its heed, with respect to house prices.

Yeah - the only oil producing nation in the EU - that pumps more oil than Kuwait and supplies England with 70% of it's energy needs is poor and dependent on "english" taxpayers...

It's poor and improverished BECAUSE of the English taxpayer!

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yes, scotland is different..Edinburgh is mad,

In most cases it's so much cheaper to rent in Edinburgh - I'm shocked that people bother with buying.

Especially when many of Edinburgh ancient tenements cost £££ in external upkeep which is forces owners to fork out huge sums regularly.

Don't get me wrong - i like the city. But it's sooooo overpriced. And yet plenty of people who are proud to be 'banking slaves' (aka home owners).

What's the point of living in such a great city if most of your disposable income goes towards a wet&dirty pile of bricks or stones?

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In most cases it's so much cheaper to rent in Edinburgh - I'm shocked that people bother with buying.

Especially when many of Edinburgh ancient tenements cost £££ in external upkeep which is forces owners to fork out huge sums regularly.

Don't get me wrong - i like the city. But it's sooooo overpriced. And yet plenty of people who are proud to be 'banking slaves' (aka home owners).

What's the point of living in such a great city if most of your disposable income goes towards a wet&dirty pile of bricks or stones?

You forget that Edinburgh is Different.

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Scotsman #1

Scotsman #2

Not difficult. These figures just show the market is even more goosed than we originally thought. The lower end is almost non-existant.

Even the ESPC, through the Scotsman, clearly explaining to people why these 'average' figures are why they are. Also a fair few in the comments section who seem to understand what is going on. Nice few examples of how this skewing occurs.

As I have said for a long time now - once FTB prices do get to levels where people are interested and they start selling ? The 'average' price fall figures could be huge. Let's see how the BBC advertise them when they appear. Another 12 months news blcakout like during 2008 I assume..:angry:

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Interesting stats, to say the least. My take on them?

- Scotland is behind the curve vis-a-vis property in England. Has usually been the case, historically. Maybe 6-9 months. Let's see what the figures are like next March.

-Volumes. Very low. According to the figures, transactions were 50% down on 2007. So the market is hardly "booming". The upper end of the market seems to account for a lot of the sales and is pulling the "average price" upwards?

- I suspect these stats are showing the classic Bull Trap of how buyers saw the market last year. A number of properties I track (for fun) haven't budged in nearly 2 years. Hardly a sign that the market is healthy. Prices still way too high for the average buyer to afford and get a mortgage.

Oh, and I may as well add the usual "foreign buyers " have been snapping up the prime properties in Edinburgh. Not true, but some newspaper is bound to print it. After all, it's just like the prime London market in Auld Keechie :D

All in all...bizarre news. Is the market north of Hadrian's wall really bucking the trend..... :rolleyes:

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The big problem with RoS data is that it is not mix-adjusted so is subject to quality skew which is what is happening here. This is also a problem with ESPC's city-wide data, you never know to what extent a rise or fall is due to the type of property being sold.

In this respect Haliwide indices are a more reliable metric, as are the individual property type indices on the ESPC.

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Last friday was the busiest day of the year for sold properties been settled by Land registry in Edinburgh.

It looks like this boom is never going to end :(

:lol:

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Just what i heard ccc, black friday the land registry people were calling it as it was so busy.

If Edinburgh is having a 'boom' in property sales I must have missed something. Along with every other person in this City....

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I know what your saying and was as suprised myself when i heard this. The guy who told me work for land registry and thats how he described it.

Maybe busiest this year is relative to rest of the year.

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I know what your saying and was as suprised myself when i heard this. The guy who told me work for land registry and thats how he described it.

Maybe busiest this year is relative to rest of the year.

Could be. I suppose there does have to be a busiest time in every year.

Guiness McTavish, long time no see.

I am saying nothing. Benefit of the doubt and all. :D

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Last friday was the busiest day of the year for sold properties been settled by Land registry in Edinburgh.

It looks like this boom is never going to end :(

:lol:

Their busiest day! That's not saying much the ROS are running at a loss because housing market turnover in Scotland is so low. Here's some comments from their recent annual report.

The decline in the property market has continued greatly to affect our income... The number of transfers of

property in 2009-10 was less than half that at the peak of the market in 2007-08, although the average value only fell by 2%

The volume of applications we received across all our registers was down 25.1% compared with 2008-2009, which was

17.7% down on 2007-2008. Consequently our income was £11 million below our original forecast in 2009-2010.

Our business activities continue to be adversely affected by the downturn in the general economy and in particular the

housing and mortgage market

Operating Income Statement

For the year ended 31 March 2010 Operating Loss 24,670, .

These figures are measured in (£ ,000) .

Clearly no problems for Scotland's property market then.

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This article in the Herald gives a different slant from its blatantly ramping front page.

the way in which the official figures are compiled leads some commentators to urge caution.

While they are based on official records of sales figures from July to September, it is only when the missives are concluded that they are included by RoS, rendering them in some ways already historic.

They also stand to be contradicted.

Recent figures by Nationwide, the UK’s biggest mortgage provider, declared Scotland the worst performing British region in the third quarter of 2010, with prices falling 3.4%.

Nationwide claimed the annual rate of change fell from 7.2% to -0.6%, making Scotland the first region this year to slip back from positive into negative territory.

Gwilym Pryce, a professor of urban economics and social statistics, described the latest figures as surprising, claiming that Glasgow estate agents network GSPC found a fall in house prices for the same period, with prices remaining unchanged in the west end of the city.

He said: “A possible reason for the discrepancy is that there is a delay between GSPC data and Registers of Scotland data.

“The GSPC figures are more up-to-date in the sense that they are based on agreed prices whereas RoS data waits until missives are exchanged.

“So it may be that the RoS data is picking up on the remnants of the mini-recovery observed in quarter two.”

Matthew Benson, of Edinburgh-based Rettie & Co, said the key statistic was not the average house price but the fact that sales volumes were 50% of what they were in 2007.

He said: “RoS have said there’s been an increase of 5.8% on the same period in 2009 and that this is despite sales volumes being only half of what they were at their peak in 2007.

“But it is precisely because sales volumes are low that prices appear to be remaining high. If supply goes down, then prices go up.”

Mr Benson was another who said the data was already outdated as it can take two to three months at least for the registration data to feed through. More properties are being put on the market as homeowners attempt to cash in on what they think the new higher prices are, with the net result being the prices slip back.Then there’s the problem of accessing the funds....

Liked this quote at the end.

While the figures undeniably indicate some upwards move in the market across 2010, not all estate agents are rubbing their hands in anticipation of an upturn in business.

Michael Luck, of Slater Hogg and Howison, signalled a more frustrating – and instant – impact of the figures being made public.

Mr Luck said: “What will happen is people will call our offices, say they’ve read house prices are up by whatever percent, 25% in some places, and demand to know why their’s hasn’t sold yet.

“Home sellers get angry about these figures. The trouble is people don’t understand them. There isn’t enough explanation and I’m not even sure the people who produce them understand the variations.”

Back in the real world EAs know houses aren't selling. these types of articles aren't making it any easier for the poor souls to sell enough houses to keep up the repayments on the Porsche. :P

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don't see how it's an all-time high

Flats in my old block (harrison gardens) peaked at about £215K, right at the spike of the needle of the boom, the year after we bought ours for 180K

We sold ours last year for a slight loss and others in the street now seem to have dipped lower, with a ceiling of 165K looking at the espc's latest asking prices

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What they didn't mention is that the "all time high" would have been even higher

if £21K hadn't dropped off in september. :lol:

I encountered daft hamish yesterday who was yipping and yapping about the new peak.

Just a month after he was yipping and yapping about the recent new monthly peak.

Strangely enough, he wasn't inclinded to talk about the latest monthly figures. :lol:

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This article in the Herald gives a different slant from its blatantly ramping front page.

Liked this quote at the end. Back in the real world EAs know houses aren't selling. these types of articles aren't making it any easier for the poor souls to sell enough houses to keep up the repayments on the Porsche. :P

Very interesting. Seems the EA's are getting as annoyed as the rest of us.

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  • 259 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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