Jump to content
House Price Crash Forum
Sign in to follow this  
roblpm

Edinburgh 7.5% Drop

Recommended Posts

Only based on a sample of two houses!! But these two are identical, the estate agent who showed me round the second one told me it was in the same condition as the 1st one, no particular reason to doubt her. This is in Morningside:

6, Craighouse Road

Edinburgh

Midlothian

EH10 5LQ

£365,000

Probable sale

More Details

17 Aug 2005

Map(EH10 5LQ)

11, Craighouse Road

Edinburgh

Midlothian

EH10 5LQ

£395,000

Probable sale

More Details

24 Oct 2004

Map(EH10 5LQ)

So 7.5% drop in 10 months, other properties stuck on at fixed price seem to agree with this, peak has come and gone.

Share this post


Link to post
Share on other sites
Only based on a sample of two houses!! But these two are identical, the estate agent who showed me round the second one told me it was in the same condition as the 1st one, no particular reason to doubt her. This is in Morningside:

6, Craighouse Road

Edinburgh

Midlothian

EH10 5LQ

£365,000

Probable sale

More Details

17 Aug 2005

Map(EH10 5LQ)

11, Craighouse Road

Edinburgh

Midlothian

EH10 5LQ

£395,000

Probable sale

More Details

24 Oct 2004

Map(EH10 5LQ)

So 7.5% drop in 10 months, other properties stuck on at fixed price seem to agree with this, peak has come and gone.

Good find/comparison. Some people might say that two is not a representative sample, but you have pointed that out.

The price was high to start with, so in my opinion a drop in price was needed.

Maybe the higher priced properties will see a bigger percentage price drop over the next few years.

Vendors might argue that their property is better than their neighbours because of improvements made etc. Buyers on the other hand might not want to pay a higher price for these improvements.

I still believe that many of the fixed prices in Edinburgh are too high. By keeping records of the fixed prices and watching the market like you are doing, you should be able to check via nethouseprices at a later date whether the fixed prices relate to what properties were actually sold for.

I have noticed myself, that in glasgow, some properties sold for less than the fixed price.

Only the market will deter whether peak prices have come and gone over the next few years.

Some estate agents and vested interest groups believe that a `spring bounce` is on the way. That remains to be seen/proven.

Share this post


Link to post
Share on other sites

Now, repeat after me:

Property in Scotland never crashes.

Property in Scotland never crashes.

Property in Scotland never crashes.

Property in Scotland never crashes.

Property in Scotland never crashes.

Do we believe it now? ;)

Share this post


Link to post
Share on other sites

I lived round the corner from number 6 for a while. It took ages to sell, about 6 months if I remember well. It was originally on the market, at O/O, went to fixed price at £395k and looks like it went from a discount from that. I went past the other day and noted a father with a young baby in the front room.... poor sods.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 336 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.