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Edinburgh 20% Rise Q1 Yoy

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Yep, it's in the The Scotsman, the Evening News and on the BBC website: good news travels fast.

This appears to be based on the ESPC figures for Q1. They say

HOUSE prices in the centre of Edinburgh have soared by almost 19 per cent in the past three months - part of a "robust, renewed growth" which has followed last year's slowdown
and
the rush of new buyers and sellers flooding onto the market was "as if a stable door had been unlocked".
Makes you feel glad to be alive, eh?

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That'll be the slowdown they didn't bother to mention to anyone at the time...?

It's spring time, places sell...

It's the one's left over at the end that make the difference.

I doubt there will be many more rate cuts along to put a bounce back in everyones step.

> 5,462 properties for sale or to let...

and rising.

Edited by DoubleBubbleTrouble

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I should have said at the beginning that actually the headline was crap, 18% yoy for city centre, 8% overall and some categories like suburban 4 bed detached -7% yoy.

contrasts a lot with the real figures from the land registry,

http://news.bbc.co.uk/1/shared/spl/hi/in_d...ces/html/qp.stm

have to wait about another month for the Q1 ones though.

Round here (morningside) no price rises at all as far as i can see. Does make you a bit nervous though!!

As DBT says last year the end of the year was the time to buy if you were going to, loads of fixed price. I reckon the same will happen again this year, especially if there are hints of an interest rate rise.

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I should have said at the beginning that actually the headline was crap, 18% yoy for city centre, 8% overall and some categories like suburban 4 bed detached -7% yoy.

contrasts a lot with the real figures from the land registry,

http://news.bbc.co.uk/1/shared/spl/hi/in_d...ces/html/qp.stm

have to wait about another month for the Q1 ones though.

Round here (morningside) no price rises at all as far as i can see. Does make you a bit nervous though!!

As DBT says last year the end of the year was the time to buy if you were going to, loads of fixed price. I reckon the same will happen again this year, especially if there are hints of an interest rate rise.

Safe to say its a load of c@ck.

ESPC seem to be avoiding publishing Q'ly figures of late.

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Hello, first post here after much lurking!

Its not all 'bad' news for us bears. scanning through a few property sites I came across a couple of examples suggesting things are not so great for the BTL clan.

The returns on some new-build places are now less than you could achieve at the bank for both 1 and 2 beds.

2 bed - 8/9 East Pilton Farm Rigg, Granton

To buy = £183000

http://www.nethouseprices.com/index.php?co...mit=0&curPage=1

To rent = £650pcm

http://www.lettingweb.com/search/htmpg_pro...A_Areas=245.htm

Return = 3.6%

1 bed Granton (with sea views but still a building site!)

To buy = £157000

http://www.espc.com/EspcPublic/UniversalPa...aspx?rid=210514

To rent = £550

http://www.lettingweb.com/search/htmpg_pro...A_Areas=245.htm

Return = 3.55%

(return estimated from rent minus 10% letting agent fees, 5% on maintenance and insurance. Void periods not included!)

Considering you can get 4.5% in a bank account, there’s not much to recommend BTL up here at the moment and with first time buyers struggling to buy too, I can't see much holding up the prices

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Hello, first post here after much lurking!

Its not all 'bad' news for us bears. scanning through a few property sites I came across a couple of examples suggesting things are not so great for the BTL clan.

The returns on some new-build places are now less than you could achieve at the bank for both 1 and 2 beds.

2 bed - 8/9 East Pilton Farm Rigg, Granton

To buy = £183000

http://www.nethouseprices.com/index.php?co...mit=0&curPage=1

To rent = £650pcm

http://www.lettingweb.com/search/htmpg_pro...A_Areas=245.htm

Return = 3.6%

1 bed Granton (with sea views but still a building site!)

To buy = £157000

http://www.espc.com/EspcPublic/UniversalPa...aspx?rid=210514

To rent = £550

http://www.lettingweb.com/search/htmpg_pro...A_Areas=245.htm

Return = 3.55%

(return estimated from rent minus 10% letting agent fees, 5% on maintenance and insurance. Void periods not included!)

Considering you can get 4.5% in a bank account, there’s not much to recommend BTL up here at the moment and with first time buyers struggling to buy too, I can't see much holding up the prices

Considering you can get 4.5% in a bank account, there’s not much to recommend BTL up here at the moment and with first time buyers struggling to buy too, I can't see much holding up the prices

Please tell me where I can get 4.5% net on my savings?

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Considering you can get 4.5% in a bank account, there’s not much to recommend BTL up here at the moment and with first time buyers struggling to buy too, I can't see much holding up the prices

Please tell me where I can get 4.5% net on my savings?

There are a plethora of cash ISAs paying above this with no tax to pay.

Of course if you have more than £3k to invest, feel free to pump it into property. The returns as you can see are astronomical and couldn't be beaten by any other investment vehicle. :rolleyes:

NDL

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There are a plethora of cash ISAs paying above this with no tax to pay.

Of course if you have more than £3k to invest, feel free to pump it into property. The returns as you can see are astronomical and couldn't be beaten by any other investment vehicle. :rolleyes:

NDL

Yes, but as you touch on, only at the rate of £3k p.a. Hardly comparable with £150k plus.

You’re right, that is 4.5% gross. See link

http://uk.mcgi.yahoo.com/brand/s=bestbuy$easyaccess

You'd pay tax on that interest, but your income from a rental property would also be taxed I presume, so I decided comparing the gross figures was comparing like for like..

I am not an advocate of BTL, neither do I own a BTL, but you are not as you say comparing like for like. You are also excluding the potential capital growth on the property. Which after all for many of those who BTL is the main incentive.

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Yes, but as you touch on, only at the rate of £3k p.a. Hardly comparable with £150k plus.

I am not an advocate of BTL, neither do I own a BTL, but you are not as you say comparing like for like. You are also excluding the potential capital growth on the property. Which after all for many of those who BTL is the main incentive.

Also excluding potential capital depreciation. I know which one I'd bank on over the next 5 years... especially for new builds!

Hmmm, money safe in bank account or in a nice BTL in Leith competing with the other 1000 new landlords... I think I'll keep it in the bank.

Edited by DoubleBubbleTrouble

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Not much Edinburgh news from you lot!!!!!!!!

Anyway just to cheer you up 3 identical houses in similar condition, on quite a main road so never shift very fast:

http://www.espc.com/EspcPublic/UniversalPa...aspx?rid=207833

3 Craighouse Road now on FP£380,000

6 Craighouse Road,

Edinburgh,

Midlothian,

EH10 5LQ £365,000 - Residential

18-Aug-2005

11 Craighouse Road,

Edinburgh,

Midlothian,

EH10 5LQ £395,000 - Residential

25-Oct-2004

So no 20% per annum inflation round here any more. FP at end of year last year going for 5-10% under price asked, so I reckon they'll get less than the last one. Seems to have peaked end of 2004 which actually agrees nearly with the land registry figures, not the scummy ESPC ones!!

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I'll just chat to myself!!

Anyway...................

Edinburgh retains its position as the most expensive city to buy a house in Scotland. Prices in the capital rose a modest 3% over the year to £184,240.

From Halifax toady. Don't quite know how this squares with the ESPC nonsense!!

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Latest from the BBC

Edinburgh

Quaterly =-3.8%

YOY = 3.8%

Heading south ?

The BBc figures are pretty old (they've been like that for months now).

Hopefully they'll update them soon and we'll see what's happening.

Anecdotally, I think properties are selling more quickly in Edinburgh this

spring. Certainly that's true in my local area, the properties are selling within

a couple of weeks of appearing on EPSC.

Overall there is a lot available for sale on EPSC right now - 5500 in total.

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I'm really pi**ed off. The ESPC and Evening News are out of order.

Did the ESPC ever publish any figures for Q1? I haven't seen the printed ESPC thing for several weeks, so I may have missed it. On the other hand, they've been producing less and less information over the last few quarters, so maybe they've got so few good figures now that the quarterly reports have evaporated altogether. The Evening News does report today that Lothians house price rise below national average, but they also say that the lovely Simon Fairclough "Insisted the rises in the Capital would continue as long as the demand outstripped supply". He also said "What we do not expect to see is a crash". Let's hope he's in for a big surprise then.

Edit: Mr F. also said ""For this quarter in Edinburgh, compared to last year, the prices rose by 8.3 per cent across the city, and by a staggering 18.8 per cent in the city centre". Presumably he's comparing Q1 of 2006 with Q1 of 2005, but that still doesn't fit in with the 4.7% increase for the last year in the Registers of Scotland figure on the BBC.

Edited by Scunnered

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Q1 Scottish Land Registers:

Edinburgh 1.1% QoQ 4.7% YoY

http://news.bbc.co.uk/1/shared/spl/hi/in_d...ces/html/qp.stm

I'm really pi**ed off. The ESPC and Evening News are out of order.

I'm going to email them both a very ANGRY email!!

If you feel they have been misleading, why not report them to trading standards. I believe they have a duty to investigate any claims.

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