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

Now Its Clydedale Bank Spinning Like Mad

Recommended Posts

http://scotlandtoday.scottishtv.colo.ednet..._1&newsid=10412

Three quarters of Scots expect house prices to rise
Almost three quarters of Scots expect to see house prices rise within the coming year. According to the survey by the Clydesdale Bank the price of council tax has also become a major issue for many first time buyers with one in four putting off plans to buy until local councils announce their charges for the year ahead. And with rising house prices seven out of ten buyers are willing to offer more than 10% over the asking price.
04 February 2006 16:56

Watch out for the BBC take up on this story! Front page on the BBC Website.

Lets see, if 1 in 4 Scots are holding back because of council tax it must mean that without this worry the number of scots willing to pay over asking price will be almost 100% Wow, that is all of them!

And I thought Scots were a little canny when it came to paying big prices for things?

Has anyone else noticed how much spin there has been the past couple of days? To counter the repossession/bankruptcy/liquidation news perhaps?

Edited by Realistbear

Share this post


Link to post
Share on other sites

http://scotlandtoday.scottishtv.colo.ednet..._1&newsid=10412

Three quarters of Scots expect house prices to rise
Almost three quarters of Scots expect to see house prices rise within the coming year. According to the survey by the Clydesdale Bank the price of council tax has also become a major issue for many first time buyers with one in four putting off plans to buy until local councils announce their charges for the year ahead. And with rising house prices seven out of ten buyers are willing to offer more than 10% over the asking price.
04 February 2006 16:56

Watch out for the BBC take up on this story! Front page on the BBC Website.

Lets see, if 1 in 4 Scots are holding back because of council tax it must mean that without this worry the number of scots willing to pay over asking price will be almost 100% Wow, that is all of them!

And I thought Scots were a little canny when it came to paying big prices for things?

Has anyone else noticed how much spin there has been the past couple of days? To counter the repossession/bankruptcy/liquidation news perhaps?

I gotto admit i like these types of statements purely because its a wonder that we have any housing stock on ea books at all when so many people are prepared to pay over the asking price.

TheChuz Survey:

If money was no object would you pay over the asking price for a property?

I bet most people would say yes (if money wasn't a factor)

Alas for most of us money is a limiting factor so it just doesnt matter if you would.

Share this post


Link to post
Share on other sites

For non-Scots it's important to note this 10% is over the "Offers Over" price (it's a blind auction system and the Offers Over price is merely guidance on where to start bidding)... not the Asking Price you would consider in England/Wales (I assume Wales is the same, apologies if it isn't!).

At the peak a couple of years ago you would expect to see people paying 30% over the Offers Over price to have any chance at all of securing the property. This shows how things have slowed down considerably since then.

I wonder if this survey was done in Aberdeen where the prices are still rising ;-)

If you happened to live in Stirling in Q3 you would have a larger than 10% drop in prices according to the ESPC!

Edited by DoubleBubbleTrouble

Share this post


Link to post
Share on other sites

http://scotlandtoday.scottishtv.colo.ednet..._1&newsid=10412

Three quarters of Scots expect house prices to rise
Almost three quarters of Scots expect to see house prices rise within the coming year. According to the survey by the Clydesdale Bank the price of council tax has also become a major issue for many first time buyers with one in four putting off plans to buy until local councils announce their charges for the year ahead. And with rising house prices seven out of ten buyers are willing to offer more than 10% over the asking price.
04 February 2006 16:56

Watch out for the BBC take up on this story! Front page on the BBC Website.

Lets see, if 1 in 4 Scots are holding back because of council tax it must mean that without this worry the number of scots willing to pay over asking price will be almost 100% Wow, that is all of them!

And I thought Scots were a little canny when it came to paying big prices for things?

Has anyone else noticed how much spin there has been the past couple of days? To counter the repossession/bankruptcy/liquidation news perhaps?

The thing is this is not very surprising given that:

a) prices are still rising quite fast in Scotland (in the usual fashion being behind the English market trend)

B) the Scotish system is different from the English one. Asking prices are usually put in terms of "Offers Over" and quite often go to a sealed bid competition. (In effect this means paying over the asking price is the norm).

The thing to look for in Scotland is sales where there is no sealedd bid competition (ie only one offer) and, especially, houses being offered at a "fixed price". These tell you that the balance is shifting to a buyers market.

Oh and 10% over the asking price is not especially large. At the height of the boom in Edinburgh 50% over was not at all uncommon. I think (but am not sure) that the ESPC said the average was 17% last year - so 10% might indicate a cooling.

Share this post


Link to post
Share on other sites

B) the Scotish system is different from the English one. Asking prices are usually put in terms of "Offers Over" and quite often go to a sealed bid competition. (In effect this means paying over the asking price is the norm).

The English system is different from the Scottish one in that there are also a few decent jobs left in England. Manufacturing industry seems to be in terminal decline here since the tech bubble burst.

Share this post


Link to post
Share on other sites

The English system is different from the Scottish one in that there are also a few decent jobs left in England. Manufacturing industry seems to be in terminal decline here since the tech bubble burst.

I certainly agree that incomes and employment prospects in Scotland cannot sustain the recent rise in house prices. There will be a lot of tears before the end of this.

Share this post


Link to post
Share on other sites

I feel the time is right for some Scottish jokes. (btw… my wife is Scottish)

How did the Grand Canyon come about?

A Scotsman lost a sixpence.

How do you disperse an angry Scottish mob?

Take up a collection.

Then there were two Scots who bet a pound on who could stay under water the longest. They’ both drowned.

A woman and a man from Aberdeen were stranded on a desert island after a shipwreck. Their clothes were in rags and their food running out.

‘I suppose it could always be worse,’ said the woman. ‘Oh, aye, it could,’ agreed the Aberdonian. ‘I might have bought a return ticket.’

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.

  • 301 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.