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Realistbear

Scotsman: Economic Slowdown Will Not Affect Soaring H P I

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http://thescotsman.scotsman.com/business.cfm?id=1302202006

Economic slowdown looks likely to bypass rising Scottish house prices

COLIN DONALD BUSINESS CORRESPONDENT
SCOTTISH
house price rises
look set to continue
despite
the threat of an economic slowdown
later in the year, according to the latest UK Residential Research Bulletin by property group Savills. Jamie MacNab, Savills Scotland partner, ascribes the continued rise to the enduring affordability of the Scottish market, as measured by the "house price to income ratio".
The "worst" ratio in Scotland - in south-east Scotland (including Edinburgh) is between five to six times income, whereas the Home Counties ratio, which includes London, is in excess of eight times income...../
Of the country house market in other areas of Scotland, MacNab said: "
The Chelsea factor is being replicated in Scotland
, with the prices of large country houses accelerating as a result of the ripple-out effect from high values being realised in both Edinburgh and Glasgow and the south of England."

Nothing is gonna stop this freight train from 'a keep on rollin the noo. With the Chelsea factor building prices will soon be matching those in the best parts of W London--better get in quick. :o

Edited by Realistbear

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http://thescotsman.scotsman.com/business.cfm?id=1302202006

Economic slowdown looks likely to bypass rising Scottish house prices

COLIN DONALD BUSINESS CORRESPONDENT
SCOTTISH
house price rises
look set to continue
despite
the threat of an economic slowdown
later in the year, according to the latest UK Residential Research Bulletin by property group Savills.
Bit of a classic.
Thoughts on first reading : "Right, now how are they extrapolating the survey data to deduce a dislocation between economy and HPI?"
Thoughts on second reading : "Right,
where is
the survey they are basing the extrapolation on?"
Thoughts on third reading: "So this is just and unsubstantiated opinion but by whom?"
Thoughts on fourth reading: "Is this "Business Correspondent" employed in the PR department of Savills Scotland?"
Final note to self : "Scotsman = poo."
Edited by Sledgehead

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teh feeling in Scotland seems to be that because they didn't have crash in early 90s, they won't have one this time round. However, last time round they didn't have huge rises either. Income ratios are indeed lower, but this in part reflects lower demand/wealth, and is a far from infallible forecaster anyway.

Also worth noting that different parts of Scotland performing very differently. You can indeed pick up relative bargains in Scotland, but from an investment point of view, a lot would depend on regeneration. The best areas would probably be some of the new URCs, such as Inverclyde and Irvine Bay.

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  • 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%



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