dog Posted February 7, 2006 Share Posted February 7, 2006 http://news.bbc.co.uk/1/hi/scotland/4677000.stm However, the study found seven out of 10 buyers were willing to offer more than 10% above the asking price - an increase of nine per cent in the last six months. At the same time, the survey showed the prospect of higher council tax bills was deterring many first-time buyers from purchasing. So we have a record number of first time buyers refusing to buy at all but 75% of them are willing to offer 10% over the asking price. Sure thing. Quote Link to comment Share on other sites More sharing options...
underpressuretobuy Posted February 7, 2006 Share Posted February 7, 2006 [so we have a record number of first time buyers refusing to buy at all but 75% of them are willing to offer 10% over the asking price. Sure thing. Although I know the BBC is talking rubbish, I can actually see how that could happen. The vast majority of people priced out of the market or unwilling to enter the market at such levels give you your low numbers of FTBs. However, of those who don't see a problem buying right now - we must assume that these FTBs have more money than most (perhaps they are in reciept of parental help or money from inheritance) and obviously they must be bullish about the future of the property market. Now if a property bull with more money than sense who was convinced that property prices never fall were asked if they were prepared to pay more than the asking price, my guess is they would say "Yes, of course." This does not change the fact that the BBC is in actual fact ramping the property market by talking absolute nonsense. Quote Link to comment Share on other sites More sharing options...
since the beginning Posted February 7, 2006 Share Posted February 7, 2006 Cost of council tax so an extra £200 a year on council tax (yes the level of council tax increases are shocking) is going to have more weight with peoples decision making than a £250,000 price tag. It is amazing how people complain about inflation in everything except houses and just except that that is just the way it is. Quote Link to comment Share on other sites More sharing options...
Harry Sacks Posted February 7, 2006 Share Posted February 7, 2006 Cost of council tax so an extra £200 a year on council tax (yes the level of council tax increases are shocking) is going to have more weight with peoples decision making than a £250,000 price tag. It is amazing how people complain about inflation in everything except houses and just except that that is just the way it is. I think people do complain about HPI, it's just those complaints are put in the memory hole. Quote Link to comment Share on other sites More sharing options...
Guest Guy_Montag Posted February 7, 2006 Share Posted February 7, 2006 http://news.bbc.co.uk/1/hi/scotland/4677000.stm So we have a record number of first time buyers refusing to buy at all but 75% of them are willing to offer 10% over the asking price. Sure thing. Just goes to show, a little knowledge is a dangerous thing. 1) This survey was conducted by Clydesdale bank, not the Beeb. It was reported by the Beeb on their website, basically a reformated press release by the bank. This is not unusual check out their science/tech/business coverage & that on <b>other</b> news sources. It's not worth spend hours on these types of reports. 2) This is Scotland, therefore all houses are marketed as either offers over, or fixed price. If they are fixed price it's just that, no gazzumping, you offer the price you get the house. The offers over thing is much the same as in England save, you still don't get gazzumping. 10% over is pretty low, my parents got 55% over their advert price 3 years ago & one of my friends lost out when someone put an offer of 80% over on a flat about the same time. 3) Council tax valulations are due to begin next year (I think) in Scotland. That means buying any house right now is signing a blank tax cheque, if I wa renting there & thinking of buying. I would feel the same, the last thing you want to do is buy a currently band C flat only to find it becomes a band F flat next year. 4) We are the minority (check the survey) 75% of people think prices will go up. That means, guess what 3 in 4 people think that prices will go up. That means 3 in 4 reporters, 3 in 4 estate agents, 3 in 4 politicians, 3 in 4 policemen, 3 in 4 scientists... I could go on. So it should not come as a surprise that 3 in 4 reports express confidence in house price rises should it now? Quote Link to comment Share on other sites More sharing options...
Converted Lurker Posted February 7, 2006 Share Posted February 7, 2006 http://news.bbc.co.uk/1/hi/scotland/4677000.stm So we have a record number of first time buyers refusing to buy at all but 75% of them are willing to offer 10% over the asking price. Sure thing. There was a similar pr story issued on behalf of the Yorkshire over the weekend. The surprising/interesting issue with this type of story is just how many times it was picked up by various publishers and used. The BBC/theTimes/Observer..all used it. Lazy journalism? Perhaps. http://firstrung.co.uk/articles.asp?pageid...1242&cat=44-0-0 Quote Link to comment Share on other sites More sharing options...
dog Posted February 7, 2006 Author Share Posted February 7, 2006 Just goes to show, a little knowledge is a dangerous thing. 1) This survey was conducted by Clydesdale bank, not the Beeb. It was reported by the Beeb on their website, basically a reformated press release by the bank. This is not unusual check out their science/tech/business coverage & that on <b>other</b> news sources. It's not worth spend hours on these types of reports. 2) This is Scotland, therefore all houses are marketed as either offers over, or fixed price. If they are fixed price it's just that, no gazzumping, you offer the price you get the house. The offers over thing is much the same as in England save, you still don't get gazzumping. 10% over is pretty low, my parents got 55% over their advert price 3 years ago & one of my friends lost out when someone put an offer of 80% over on a flat about the same time. 3) Council tax valulations are due to begin next year (I think) in Scotland. That means buying any house right now is signing a blank tax cheque, if I wa renting there & thinking of buying. I would feel the same, the last thing you want to do is buy a currently band C flat only to find it becomes a band F flat next year. 4) We are the minority (check the survey) 75% of people think prices will go up. That means, guess what 3 in 4 people think that prices will go up. That means 3 in 4 reporters, 3 in 4 estate agents, 3 in 4 politicians, 3 in 4 policemen, 3 in 4 scientists... I could go on. So it should not come as a surprise that 3 in 4 reports express confidence in house price rises should it now? Quote Link to comment Share on other sites More sharing options...
dog Posted February 7, 2006 Author Share Posted February 7, 2006 Just goes to show, a little knowledge is a dangerous thing. 1) This survey was conducted by Clydesdale bank, not the Beeb. It was reported by the Beeb on their website, basically a reformated press release by the bank. This is not unusual check out their science/tech/business coverage & that on <b>other</b> news sources. It's not worth spend hours on these types of reports. 2) This is Scotland, therefore all houses are marketed as either offers over, or fixed price. If they are fixed price it's just that, no gazzumping, you offer the price you get the house. The offers over thing is much the same as in England save, you still don't get gazzumping. 10% over is pretty low, my parents got 55% over their advert price 3 years ago & one of my friends lost out when someone put an offer of 80% over on a flat about the same time. 3) Council tax valulations are due to begin next year (I think) in Scotland. That means buying any house right now is signing a blank tax cheque, if I wa renting there & thinking of buying. I would feel the same, the last thing you want to do is buy a currently band C flat only to find it becomes a band F flat next year. 4) We are the minority (check the survey) 75% of people think prices will go up. That means, guess what 3 in 4 people think that prices will go up. That means 3 in 4 reporters, 3 in 4 estate agents, 3 in 4 politicians, 3 in 4 policemen, 3 in 4 scientists... I could go on. So it should not come as a surprise that 3 in 4 reports express confidence in house price rises should it now? Guy_Montag Hmmm! You seem to have missed the point and careered off in the wrong direction. I think this link might be of some help to you. Quote Link to comment Share on other sites More sharing options...
Guest Guy_Montag Posted February 7, 2006 Share Posted February 7, 2006 25% of [potential] buyers putting off buying a house. 70% of potential buyers willing to offer 10% or more over the asking price. Therefore 5% willing to offer less than 10% over that asking price. That would fit in entirely with the 75% expecting to see house price rises over the coming year. This may help you Quote Link to comment Share on other sites More sharing options...
dog Posted February 7, 2006 Author Share Posted February 7, 2006 25% of [potential] buyers putting off buying a house. 70% of potential buyers willing to offer 10% or more over the asking price. Therefore 5% willing to offer less than 10% over that asking price. That would fit in entirely with the 75% expecting to see house price rises over the coming year. This may help you Goodness me Guy, You are completely missing the point! Please print off a copy of this thread and give it to your mum. She can explain it to you. Quote Link to comment Share on other sites More sharing options...
Guest Guy_Montag Posted February 7, 2006 Share Posted February 7, 2006 Goodness me Guy, You are completely missing the point! Please print off a copy of this thread and give it to your mum. She can explain it to you. There was an article on the BBC website a week ago on the proportion of buyers that are ftbs & how low it is. This report is based on a survey of people who intend to buy their first house, their attitudes & what they expect to pay. It is a short report about one study, not a detailed analysis of the Scottish housing market. Quote Link to comment Share on other sites More sharing options...
dog Posted February 7, 2006 Author Share Posted February 7, 2006 There was an article on the BBC website a week ago on the proportion of buyers that are ftbs & how low it is. This report is based on a survey of people who intend to buy their first house, their attitudes & what they expect to pay. It is a short report about one study, not a detailed analysis of the Scottish housing market. Guy! Guy! Guy! This is getting surreal. What exactly is your point? Quote Link to comment Share on other sites More sharing options...
Guest Guy_Montag Posted February 7, 2006 Share Posted February 7, 2006 Sorry, I have missed the point of your original post. Please can you restate it in terms even I can understand. Quote Link to comment Share on other sites More sharing options...
dog Posted February 7, 2006 Author Share Posted February 7, 2006 Sorry, I have missed the point of your original post. Please can you restate it in terms even I can understand. Bang! My head just exploded. Quote Link to comment Share on other sites More sharing options...
theChuz Posted February 7, 2006 Share Posted February 7, 2006 @ thread evolution Quote Link to comment Share on other sites More sharing options...
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