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Captain Cavey

House Prices In Scotland Climb By 83% Over Decade

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…….apart from the obvious.

Are you pointing out that Scotland experienced the bubble as much as the rest of the UK and this time, will crash”n’burn along with the rest?

Or is the weekend editor smugly pointing out that he’s done so well out of his canny Penicuik investments?

Would it not be appropriate to add a little additional commentary to this article, perhaps, dare I say, some background investigative journalism, pointing out the unsustainable disparity between wages and property prices, no?

31 January 2011 Last updated at 01:08 GMT

House prices in Scotland climb by 83% over decade

House prices in Scotland have risen by more than 80% in the past decade, a new study has suggested.

But research by the Bank of Scotland also showed that prices still trailed behind the rest of the UK.

The average home north of the border sold for £111,780 in 2010 - an 83% increase on £61,039 in late 2000.

Penicuik in Midlothian recorded the biggest increase, where the average house price climbed by 179% from £61,824 to £172,476 at the end of 2010.

Irvine (172%) and Peterhead (171%) were the next best performers.

Across the UK as a whole, house prices rose by 91% over the same period.

But the Scotland gains trailed behind the rest of the UK, with only Greater London and the South East recording smaller rises over the decade.

The biggest house price increases were in the north of England, where they went up by 130%, followed by Yorkshire and the Humber (125%) and Wales (108%).

Suren Thiru, housing economist at the Bank of Scotland, said: "The past 10 years have been characterised by a narrowing in the UK north-south house price divide.

"However, recently there has been a slight reversal of this trend with housing markets in the south of England outperforming the rest of the country over the past few years.

"Scottish property prices have risen steadily since 2000, if a little more subdued than some of the price gains recorded in most other UK regions."

Edit add link

Edited by Captain Cavey

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I assume the link you adder was a mistake, but you couldn't get much more inroic.

I wish him the best, can't say the same for the housing market though.

oops, yes my mistake, but the falling off a mountain analogy still works! Real link

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Doh, don't you get it, this is "how journalism works". Why should some lazy web muppet getting paid a measly 40k at the BBC bother adding anything to a press release from the Bank of Scotland (a 'reputable' business). The BBC will take 'news' on trust from certain quarters, and publish it directly without any editorial comment. See the Bias BBC website for more examples, though please wear your tin foil hat.

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Nice to see Reporting Scotland felt the need to report this as a main story today.

They seem to have gone very quiet recently on the Lloyds TSB Scottish housing report. I can only imagine this is because it shows numbers they do not like. Back when they were still showing + numbers and the UK news in general was about falling house prices ? They couldnt get enough of it.

This story itself is a bit of a strange one. One one hand they are giving big high 5's to all 'homeowners' by telling them that their house prices have 'soared' over the past 10 years.

Then they decide to tell everyone that don't worry - we are still behind everywhere else in the UK - therefore somehow also trying to inform people that they are good value up here.

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83% over the space of a decade is an headline grabbing figure, but just how "amazing" is this?

Well, if you take £61,039 as the starting point ten years ago, and you assume an average rate of growth in HP value of 6.25% per year then by the miracle of compound interest you get a house which ten years later is valued at £111,917. Which is of course the 83% increase mentioned in the article headline.

Of course, given that 6.25% isn't much better than the average interest rate of a fixed term savings bond (at least in normal times) I can understand why the article headline isn't "House prices in Scotland rise at an average of 6% per year over the last ten years".

Edited by Jie Bie

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The use of the word 'trailed' says a lot. Homeowners and investors have clearly been denied the growth they deserved...

The sentiment is quite nauseating.

Yep. They said it as if it was a bad thing. Although you know what ? I think they are losing a lot of the public with this subject. many are coming around to the idea of lower house prices being a good thing. Just have to look at any comment section on a newspaper story to see.

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Doh, don't you get it, this is "how journalism works". Why should some lazy web muppet getting paid a measly 40k at the BBC bother adding anything to a press release from the Bank of Scotland (a 'reputable' business). The BBC will take 'news' on trust from certain quarters, and publish it directly without any editorial comment. See the Bias BBC website for more examples, though please wear your tin foil hat.

The BBC (and all the rest of them) are filthy scum and nobody should tune into the crap they spout.

Much better is Russia Today (on freesat). On this news station the kind of dissident views and information relating to western current affairs that we have to do our own research to read/hear about and discover, are not just given airtime, but rather consist of the main themes of the channels political vent. Its great!

If however you are interested in hearing criticism of the mainstream in Russian politics then this may not be the channel for you.

RE the house prices. My brother has been trying to sell two flats of his in the Perth at the value recommended by his estate agents. No takers. Not barely even any interest. 4-5 years ago, and these would have went like hot cakes.

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Russia Today is good, yes.

There was another story on BBC Scotland today about how one place in Glasgow has now overtaken Edinburgh as being the most expensive = smiles all round... grr..

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  • 309 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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