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Herald: Rise In £1Million Houses Signals Revival In Market

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I’m surprised nobody has posted this yet:

Rise in £1million houses signals revival in market

This piece of dreadful churnalism is actually the front-page headline in today’s Herald!

Apparently all those Russian oligarchs who have hitherto been keeping prices up in Kensington and Chelsea are now buying up property in Scotland, because it offers so much better value.

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I’m surprised nobody has posted this yet:

Rise in £1million houses signals revival in market

This piece of dreadful churnalism is actually the front-page headline in today’s Herald!

Apparently all those Russian oligarchs who have hitherto been keeping prices up in Kensington and Chelsea are now buying up property in Scotland, because it offers so much better value.

Totally agree - just like their 3 page spread (including entire front page) about 3 months ago on how the housing market was heading back up.

It's ill-thought out, not at all backed up by the evidence they provide and frankly suspicious.

Basically, more 1million houses have been sold and therefore this might filter down into the lower end of the market. No evidence provided other than this though. Really poor journalism and difficult to understand how it can justify the front page...again!

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Basically, more 1million houses have been sold and therefore this might filter down into the lower end of the market. No evidence provided other than this though.

I'd go further than that-not only is there no evidence, what they are saying is a mathematical impossibility. The tiny numbers of £1M house sales cannot impact on prices/sales in larger lower bands in any meaningful way.

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I'd go further than that-not only is there no evidence, what they are saying is a mathematical impossibility. The tiny numbers of £1M house sales cannot impact on prices/sales in larger lower bands in any meaningful way.

Thats 149 houses....I'm sure they'll all be trading down too.....what's not to like about this rebound prediction........I'm still stunned it was front page given world events

Quote from The Herald "The number of sales of such properties has doubled in Scotland since 2005, and between 2009 and 2010 rose by more than 40%. In 2010 there were 149 £1m-plus homes sold in Scotland compared with 106 in 2009."

It was only 10 days previously they were warning home owners that interest rates will rise....., easily offset by those 149 house sales....maybe the sellers will use the cash to buy flats in Partick....

Edited by abroad

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You just know that the fact that the herald is the de-facto property advertisement supplement for non gspc property in west of scotland has huge bearing on their bullishness. I bet there supplement revenues take a tanking when buyers and sellers are hesitant.

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Don't agree on that Hirop. If it happened only in relation to house price articles then you'd have a case, but when its a trend in all forms of news media then the explanation lies elsewhere.

A paper makes money by printing articles. Somebody years ago realised there is no requirement for the articles to be factually accurate. And no reason to spend money investigating or checking sources. Hence the papers cut back on 'wasteful' journalists out in the filed and office based management simply churn press releases written by somebody else. Cheaper, so much more efficient. The accountants love it.

The main board would approve of this private sector efficiency. If only the public sector would do the same (you know, chop the staff who do things but retain the managers to recycle any old stuff sent in by somebody else) just imagine the benefits. Hold on a minute.... :)

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Other sources suggest that rich folk have been rushing to buy the high-priced homes to avoid a stamp duty rise from 4% to 5%.......

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However, Glasgow-based property researcher Faisal Choudhry raised the prospect of a bounce-back in prices over the coming three or four years as a result of movement at the top of the market.

Ahh the independent voice of the 'property researcher' - Peer reviewed by other academics no doubt.

http://www.savills.co.uk/forms/contact-individual.aspx?id=46512-0

Contact: Faisal Choudhry, Savills Glasgow

Wait, what?

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However, Glasgow-based property researcher Faisal Choudhry raised the prospect of a bounce-back in prices over the coming three or four years as a result of movement at the top of the market.

Ahh the independent voice of the 'property researcher' - Peer reviewed by other academics no doubt.

http://www.savills.c...aspx?id=46512-0

Contact: Faisal Choudhry, Savills Glasgow

Wait, what?

Bounce back in prices as a result of the top of the market :blink:

:lol:

This particlaur property researcher may want to start researching the very basics of the property pyramid. A clue - it is not upside down.

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Did this not just get boaked up again.........today.

http://breakingnews.heraldscotland.com/breaking-news/?mode=article&site=hs&id=N0211201304205983477A

just over a month later....

The BBC and the Scotsman both had that today as well.

Rapid rise in number of £1m homes sold in Scotland

Edinburgh second only to London for £1m sales

Woo hoo.

Edited by Scunnered

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Mentioned to me several times out of work. This is just perpetuating... on and on and on. I am getting VERY tired, I almost give up. VERY tempted to pick up and travel around Europe over a decade or so with my job, see a bit of the world.

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Mentioned to me several times out of work. This is just perpetuating... on and on and on. I am getting VERY tired, I almost give up. VERY tempted to pick up and travel around Europe over a decade or so with my job, see a bit of the world.

And if you think about it - completely irrelevant for 99% of people interested in buying/selling a place in Scotland today.

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  • 312 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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