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Haven't heard from the Edinburgh commentators for some time! Any news?

From the ESPC website, there are about 3500 properties for

sale today. That's a lot less than the 6000-odd properties

that were there in September. It seems a fair number of

properties shifted in November and December.

Andecotally, properties are taking longer to sell. I know a few

people who had properties for sale (in good areas) and they had

jut a couple of notes of interest. All the same, each of them sold

their apartment after a while.

So it seems as though things are slow but steady right now.

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From the ESPC website, there are about 3500 properties for

sale today. That's a lot less than the 6000-odd properties

that were there in September. It seems a fair number of

properties shifted in November and December.

Andecotally, properties are taking longer to sell. I know a few

people who had properties for sale (in good areas) and they had

jut a couple of notes of interest. All the same, each of them sold

their apartment after a while.

So it seems as though things are slow but steady right now.

You know Edinburgh better than me, but I've seen a lot of properties on the market in Glasgow for months and then being taken off the market.

They didn't sell, they were simply taken off the market.

NDL

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You know Edinburgh better than me, but I've seen a lot of properties on the market in Glasgow for months and then being taken off the market.

They didn't sell, they were simply taken off the market.

NDL

Same applies Edinburgh & Borders - a lot of the properties we were idly tracking have been removed - fairly certain not sold - expect to see them pop up again in new yr. Wouldn't appreciate viewers coming round my house christmas day myself...

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I thought that taking off a property and putting it back on again costs money? At the very least a property centre re-insertion price is payable, which could be a deterrent.

The Aberdeen market has not slowed at all. There are significantly less fixed price properties currently available since last February, and less properties generally. This is not because of them being removed, as they have shown as being under offer, prior to removal. If anything the Aberdeen market seems more buoyant than this time last year.

Despite the bearish bias of this site, there is obviously a regional component to be considered. This site is dominated by respondents from English regions and the perceived HP decline there. It is not the same in Scotland. If you add Wales into the mix, I wonder how geographically confined HP decline is?

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I thought that taking off a property and putting it back on again costs money? At the very least a property centre re-insertion price is payable, which could be a deterrent.

Yeah, how much is that fee? A few hundred quid? I guess that is preferable to slashing thousands off your house to make a sale. Better to pay a re-insertion fee and sell for full price in a few months time. I genuinely believe that's how those in denial think.

The Aberdeen market has not slowed at all. There are significantly less fixed price properties currently available since last February, and less properties generally. This is not because of them being removed, as they have shown as being under offer, prior to removal. If anything the Aberdeen market seems more buoyant than this time last year.

I'm afraid I'm completely out of touch with Aberdeen and have to accept what you say as gospel. However, I do know a work colleague who's inlaws are selling a large house and it hasn't shifted as quickly as they expected. I do think it has sold now, as I haven't heard any talk of it for a while. (I am loathe to ask!)

Despite the bearish bias of this site, there is obviously a regional component to be considered. This site is dominated by respondents from English regions and the perceived HP decline there. It is not the same in Scotland. If you add Wales into the mix, I wonder how geographically confined HP decline is?

There are indeed geographical differences and I believe Scotland (in general) lags England by around six months or so. However, I have been watching several properties in the central belt, mainly Glasgow, South Lanarkshire and Paisley and have seen properties withdrawn (no sale), properties selling 10% below asking, and selling below purchase price (gasp!). For balance I have seen properties sell for full asking and for more than purchase, but the change here is that it used to be impossible to find examples of decreases.

I'd be genuinely interested if you'd post periodically on your observations on the Aberdeen market as you see it. For if this market enters reverse I believe HPC will well and truly have arrived in Scotland!

NDL

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I'm afraid I'm completely out of touch with Aberdeen and have to accept what you say as gospel. However, I do know a work colleague who's inlaws are selling a large house and it hasn't shifted as quickly as they expected. I do think it has sold now, as I haven't heard any talk of it for a while. (I am loathe to ask!)

I have been keeping an eye on the Aberdeen market for some time and there is a noticeable slowdown. Lower end properties are stll being snapped up by keen BTL'rs who think their property will increase in value no matter what.

Properties above 100k seem to be taking far longer to sell. Some properties have been up for sale for many months.

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I have been keeping an eye on the Aberdeen market for some time and there is a noticeable slowdown. Lower end properties are stll being snapped up by keen BTL'rs who think their property will increase in value no matter what.

Properties above 100k seem to be taking far longer to sell. Some properties have been up for sale for many months.

Thanks for that. I had heard it said before that Aberdeen was still motoring, so your information is interesting.

NDL

PS. Welcome to the madness!

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thanks brown boots. Good to see someone is keeping an eye on the aberdeen market.

Still think prices need to drop 15-20% to become affordable again.

I have no idea what sellers are expecting when they list their houses.

How can a FTB raise between 100k for a 1 bed and a 200k for a 3 bed.

I think the flats are pricing themselves out but if a BTL'er thinks someone in Aberdeen will pay more than 90k for a 2bed shitty flat and more than ~£500 with about 300 new builds almost completed - good luck!!

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I have been keeping an eye on the Aberdeen market for some time and there is a noticeable slowdown. Lower end properties are stll being snapped up by keen BTL'rs who think their property will increase in value no matter what.

Properties above 100k seem to be taking far longer to sell. Some properties have been up for sale for many months.

I have to totally disagree with your comments on the Aberdeen Market. I know it extremely well and this is not the case. By way of example If you check out www.aspc.co.uk and check fixed prices for City Centre flats over £80,000 you will note that there are only 24 for sale, and some of those listed are under offer. To add to this some Aberdeen solicitors because of the buoyancy of the market are quite tardy in updating the ASPC web site as to the current state of play, so the figure is even lower in reality. In October there were 56 fixed price flats for sale in this category. Anything in the West End proper sells no matter what the condition. By way of simple example, watch the one bedroom ground floor flat at 94 Blenheim Place. The bathroom is off the kitchen and both require total refurbishment, including the flat generally. This flat came on the market on Thursday the 5th January but I will predict that it will go to a closing date with multiple offers significantly over the asking price of £125,000 within 2 weeks. The under offer or closing date caption will appear on the website so you can check this out. There is a general dearth of decent flats in the O/O price range of £80,000 to £160,000. In fact anything decent will elicit at least 5-6 notes of interest and 3-4 O/O in the range of 15%-25%. Any flats in this price range that have been on for any length of time either have some negative(s) that is discouraging buyers, or are grossly over priced. It is still a seller’s market and they know it. This time last year there was a small seasonal downturn, but this has definitely not been the case this year. If you check across a range of property types and prices on the ASPC site you will note the under offer and closing date captions. Some builders may be offering incentives on some sites, but they are restricted to a very few and even only to specific properties on the site that are not in the best situation. The Aberdeen market never usually follows the trends of either the UK generally or Scotland, due to a unique economic environment. I personally wish it were not so, and that it would at the very least trend towards being static sometime soon.

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I have to totally disagree with your comments on the Aberdeen Market. I know it extremely well and this is not the case. By way of example If you check out www.aspc.co.uk and check fixed prices for City Centre flats over £80,000 you will note that there are only 24 for sale, and some of those listed are under offer. To add to this some Aberdeen solicitors because of the buoyancy of the market are quite tardy in updating the ASPC web site as to the current state of play, so the figure is even lower in reality. In October there were 56 fixed price flats for sale in this category. Anything in the West End proper sells no matter what the condition. By way of simple example, watch the one bedroom ground floor flat at 94 Blenheim Place. The bathroom is off the kitchen and both require total refurbishment, including the flat generally. This flat came on the market on Thursday the 5th January but I will predict that it will go to a closing date with multiple offers significantly over the asking price of £125,000 within 2 weeks. The under offer or closing date caption will appear on the website so you can check this out. There is a general dearth of decent flats in the O/O price range of £80,000 to £160,000. In fact anything decent will elicit at least 5-6 notes of interest and 3-4 O/O in the range of 15%-25%. Any flats in this price range that have been on for any length of time either have some negative(s) that is discouraging buyers, or are grossly over priced. It is still a seller’s market and they know it. This time last year there was a small seasonal downturn, but this has definitely not been the case this year. If you check across a range of property types and prices on the ASPC site you will note the under offer and closing date captions. Some builders may be offering incentives on some sites, but they are restricted to a very few and even only to specific properties on the site that are not in the best situation. The Aberdeen market never usually follows the trends of either the UK generally or Scotland, due to a unique economic environment. I personally wish it were not so, and that it would at the very least trend towards being static sometime soon.

You disagree but echo what I have said.

The lower end of the market is still bubbling. I know the Aberdeen market well too and non flat properties are experiencing slowdown. Knowing a few hardcore BTL'rs myself I believe these purchases are to an extent down to people like them. The experienced investors have been selling up for a while, while those who think "I can make millions in this game" are snapping flats up.

A property on Golden Square had a price of 280k, a friend went to view it and within the first few minutes the price had dropped to 220k and that was before any real negotiations had started.

You mention ASPC site but as regular visitor to that site you will no doubt have noticed a recent addition to the site:

The Fixed Price option. Its was introduced in 2005 and a quick look shows 57 properties at fixed price.

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You disagree but echo what I have said.

The lower end of the market is still bubbling. I know the Aberdeen market well too and non flat properties are experiencing slowdown. Knowing a few hardcore BTL'rs myself I believe these purchases are to an extent down to people like them. The experienced investors have been selling up for a while, while those who think "I can make millions in this game" are snapping flats up.

A property on Golden Square had a price of 280k, a friend went to view it and within the first few minutes the price had dropped to 220k and that was before any real negotiations had started.

You mention ASPC site but as regular visitor to that site you will no doubt have noticed a recent addition to the site:

The Fixed Price option. Its was introduced in 2005 and a quick look shows 57 properties at fixed price.

I have just lost a lengthy reply. So here is the abbreviated version. I actually used the fixed price figures as the basis of my argument. You mention 57 overall, this was the figure for city centre flats over £80.000 just 3 months ago. Thus a significant fall. The Golden Square complex is like a few I referred to. They were significantly overpriced by the developer in the first place. Small rooms, no parking very congested etc.

The Bridge of Don (non flats) in the suburbs is held as a good indicator for a stagnant or falling market. No slowdown here, in fact considerably less properties for sale than 6months ago.

Council houses in estates around the city are selling for unprecedented prices. Many in dodgy areas.

There is no evidence of a slowdown.

Check ukhousepricefree and give me concrete examples where prices have been falling in the past year.

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I have just lost a lengthy reply. So here is the abbreviated version. I actually used the fixed price figures as the basis of my argument. You mention 57 overall, this was the figure for city centre flats over £80.000 just 3 months ago. Thus a significant fall. The Golden Square complex is like a few I referred to. They were significantly overpriced by the developer in the first place. Small rooms, no parking very congested etc.

The Bridge of Don (non flats) in the suburbs is held as a good indicator for a stagnant or falling market. No slowdown here, in fact considerably less properties for sale than 6months ago.

Council houses in estates around the city are selling for unprecedented prices. Many in dodgy areas.

There is no evidence of a slowdown.

Check ukhousepricefree and give me concrete examples where prices have been falling in the past year.

I have not once said that house prices in Aberdeen are falling.

The "dodgy areas" selling are most probably people buying their council properties or amatuer BTL'rs believing they will make millions this way. The serious Aberdeen property investors are not buying at the moment and as such its the properties at the lower end of the market that are selling to the amatuers.

Perhaps wait until the Christmas period is over ie MArch then we can check the Fixed Price properties again.

What I will say is that time will tell with the Aberdeen market, the city isnt immune to country wide falls and this was seen in the 80's.

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I have not once said that house prices in Aberdeen are falling.

The "dodgy areas" selling are most probably people buying their council properties or amatuer BTL'rs believing they will make millions this way. The serious Aberdeen property investors are not buying at the moment and as such its the properties at the lower end of the market that are selling to the amatuers.

Perhaps wait until the Christmas period is over ie MArch then we can check the Fixed Price properties again.

What I will say is that time will tell with the Aberdeen market, the city isnt immune to country wide falls and this was seen in the 80's.

If "selling are most probably people buying their council properties" they would not be advertised on ASPC it would be a transaction with the council.

"I have not once said that house prices in Aberdeen are falling" Then what was the implication of your statement about a Golden Square price fall?

I agree that prices fell significantly in 1986 but I believe that this was still out of sync with the rest of the country. It was more due to a changed economic environment in the oil industry.

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If "selling are most probably people buying their council properties" they would not be advertised on ASPC it would be a transaction with the council.

Buying them and then selling on as they know that the the bottom end of the market is bouyant.

[

color=#FF0000]"I have not once said that house prices in Aberdeen are falling"[/color] Then what was the implication of your statement about a Golden Square price fall?

Please dont take my statement as an implication for the wider market dear fellow. The property I mentioned had a incredible price fall on viewing as did another property in the 370k band on the other side of Union Street.

I agree that prices fell significantly in 1986 but I believe that this was still out of sync with the rest of the country. It was more due to a changed economic environment in the oil industry.

Didnt the recession reach Aberdeen???

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Buying them and then selling on as they know that the the bottom end of the market is bouyant.

[

Please dont take my statement as an implication for the wider market dear fellow. The property I mentioned had a incredible price fall on viewing as did another property in the 370k band on the other side of Union Street.

Didnt the recession reach Aberdeen???

Buying them and then selling on as they know that the the bottom end of the market is bouyant.

They would be discouraged from buying and selling on because they have to repay the discount if sold within 3 years. There would be no advantage as they would then have to compete for higher cost housing.

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They would be discouraged from buying and selling on because they have to repay the discount if sold within 3 years. There would be no advantage as they would then have to compete for higher cost housing.

So how do you explain the buying of properties in "dodgy areas" ??

Experienced investors or amatuers?????

Edited by brownbootcuts

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I gave you details of a property at 94 Blenheim Place ref. (234284) and predicted it would have a closing date within 2 weeks. The market is hotter than I anticipated. Check www.aspc.co.uk today, the closing date is this Friday! Only one week to the day after the property came on the market. The solicitor and particularly this one, would not go to closing unless there were at least 6 notes of interest. I would also predict that it will sell for at least 25%-30% over the asking price. This is in spite of the fact that it is in need of complete refurbishment. I rest my case.

Re your question, I do not think it is investors buying these council houses. I believe it is those who are priced out of a rising market, and unable to get this size of accommodation for the money anywhere else.

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I gave you details of a property at 94 Blenheim Place ref. (234284) and predicted it would have a closing date within 2 weeks. The market is hotter than I anticipated. Check www.aspc.co.uk today, the closing date is this Friday! Only one week to the day after the property came on the market. The solicitor and particularly this one, would not go to closing unless there were at least 6 notes of interest. I would also predict that it will sell for at least 25%-30% over the asking price. This is in spite of the fact that it is in need of complete refurbishment. I rest my case.

Blenheim Place is an area that is always under high demand therefore I dont think your example is an accurate portrayal of the Aberdeen market as a whole.

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I dont think there is as much activity in Aberdeen as being discussed here.

I have watched a few properties for a while and yes some sell and some dont.

OK i still speak to people at hte ground level in Aberdeen and even though we laugh about the Glasgow developments on the Dock they still say that Aberdeen house prices will not crash. I laugh until tears dribble from my eyes.

We will see what happens in 3 years when the oil drys up. I suspect oil companies are already ramping down their Aberdeen offices in preparation to move on. Then the transfer of skill will occur which leaves what industry exactly to support aberdeen??

A house i was watching on ASPC moved to 'Under offer' but was a 3 bed detatched on for a decent price.

I cant see the over priced properties moving ever.

But i also have friends who still buy (FTB's) who prety much have no common sense properties 6x joint salaries on IO 40 year morgages. This also makes a tear in my eye. But i cry for them. i dont think they realise what they have done.

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But i also have friends who still buy (FTB's) who prety much have no common sense properties 6x joint salaries on IO 40 year morgages. This also makes a tear in my eye. But i cry for them. i dont think they realise what they have done.

6x joint salries!!!!!!!!Thats just plain crazy.

Oh by the way, Oil will be there for a bit longer than 3-4 years ;)

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Blenheim Place is an area that is always under high demand therefore I dont think your example is an accurate portrayal of the Aberdeen market as a whole.

If you re-read my posts you will note that Blenheim Place was not my only indicator. However, I thought my prediction was spot on! If the market was slowing as you say then even a one bedroom West End flat that is requiring total refurbishment should not attract so much immediate interest, and at a price that I further predict will be about £162,000 or even higher. I could provide numerous others.

There are a number of flat developments going on in Aberdeen at the moment, and very little by way of incentives, which I think is a good indicator that the builders are confident they will get their money.

By way of example take the Stewart Milne Kepplestone development. A starting price of £189,995 for a 2 bedroom flat with no incentives. This is in a very large, and unattractive block in my opinion, and at one of the busiest traffic junctions in Aberdeen. There is very heavy traffic 24/7.

By way of contrast Barratts are offering 2 bedroom flats at Devanha Mews (what a misnomer), South College Street. This is/has always been regarded as a low grade area. It is an industrial environment, comprising former fish processing units, with an elevated railway line just yards away. It is noisy and busy. I could go on. Yet no incentives!

I am not at all happy about this state of affairs and would consider buying in Edinburgh if I could get a better deal there. So if you really know the Edinburgh market and consider I can get a good deal there, then let me know what, where and when.

I would love to believe that both markets will fall this year or even next. Convince me!!!!

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OK i still speak to people at hte ground level in Aberdeen and even though we laugh about the Glasgow developments on the Dock

I don't really know the Glasgow market.

What is your opinion on the desirability of the Spiers Wharf area, particularly the older converted warehouses?

Is it a nice place to live?

If not, why not?

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If you re-read my posts you will note that Blenheim Place was not my only indicator. However, I thought my prediction was spot on! If the market was slowing as you say then even a one bedroom West End flat that is requiring total refurbishment should not attract so much immediate interest, and at a price that I further predict will be about £162,000 or even higher. I could provide numerous others.

There are a number of flat developments going on in Aberdeen at the moment, and very little by way of incentives, which I think is a good indicator that the builders are confident they will get their money.

By way of example take the Stewart Milne Kepplestone development. A starting price of £189,995 for a 2 bedroom flat with no incentives. This is in a very large, and unattractive block in my opinion, and at one of the busiest traffic junctions in Aberdeen. There is very heavy traffic 24/7.

By way of contrast Barratts are offering 2 bedroom flats at Devanha Mews (what a misnomer), South College Street. This is/has always been regarded as a low grade area. It is an industrial environment, comprising former fish processing units, with an elevated railway line just yards away. It is noisy and busy. I could go on. Yet no incentives!

I am not at all happy about this state of affairs and would consider buying in Edinburgh if I could get a better deal there. So if you really know the Edinburgh market and consider I can get a good deal there, then let me know what, where and when.

I would love to believe that both markets will fall this year or even next. Convince me!!!!

You really are having trouble grasping the words in front of you.

Again just for you: The lower end of the market is still seeing activity.

Arent they still trying to get shot of properties near the beach and as such are offering incentives????

Anyway its quite apparent that you are seeing what you want to see in the Aberdeen market, basing your opinion on the lower end of the market.

Edited by brownbootcuts

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You really are having trouble grasping the words in front of you.

Again just for you: The lower end of the market is still seeing activity.

Arent they still trying to get shot of properties near the beach and as such are offering incentives????

Anyway its quite apparent that you are seeing what you want to see in the Aberdeen market, basing your opinion on the lower end of the market.

"First remove the mote from thyne own eye"

No it is not just the lower end....it is right across the board. Curiously you also believe this about the West End!

I am flogging a dead horse here. It is what is called the 'law of diminishing returns' If you want to believe the Aberdeen market is slowing and it is basically the lower end that is still seeing activity, then so be it. If you are happy then I am happy!

Who knows, you might contribute to talking the market down, and that suits me fine.

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