Democorruptcy Posted July 7, 2017 Share Posted July 7, 2017 23 minutes ago, Oily said: Something very odd about all those Stoneywood transactions.....does anyone have the inside story? The figures cannot be right can they? The one next door up £65k in a day, down nearly £300k in a couple of months then up £160k in 11 days? 4, Waterton Gardens, Stoneywood, Aberdeen, Abn AB21 9HX £290,000 Residential 16 Dec 2016 £225,750 Residential 15 Dec 2016 £497,950 Residential 01 Apr 2014 £409,500 Residential 20 Dec 2013 £249,950 Residential 09 Dec 2013 £554,950 Residential 04 Oct 2013 Quote Link to comment Share on other sites More sharing options...
cashinmattress Posted July 7, 2017 Share Posted July 7, 2017 41 minutes ago, Democorruptcy said: The first one in the list is a cracker! 5, Waterton Lawn, Stoneywood, Aberdeen, Aberdeenshire AB21 9HX £218,500 Residential 31 May 2017 £272,000 Residential 06 Dec 2016 £459,900 Residential 15 Dec 2014 £376,950 Residential 28 Apr 2014 £359,950 Residential 22 Jan 2014 £249,950 Residential 29 Nov 2013 £356,950 Residential 17 Oct 2013 £554,950 Residential 04 Sep 2013 Edit to add... I couldn't resist looking at the postcode's previous sales to see if that property was a one-off but it isn't: http://www.rightmove.co.uk/house-prices/detail.html?country=scotland&locationIdentifier=POSTCODE^2349&searchLocation=AB21+9HX&referrer=landingPage That's a cool £1.9m of cash moving about in four years. Lots of off plan punts? Every one with taxes, fees, solicitors, surveys, etc... Property truly is a mugs game. Bank always win. Is fishy though. As for the Dandara development at Forbes Place just down the road... still not done there...the rental part of it....their website says "why rent at forbes place?"...exactly. Quote Link to comment Share on other sites More sharing options...
Diver Dan Posted July 12, 2017 Share Posted July 12, 2017 From today's Press and Journal: Property firm to demolish office block to avoid huge new business rates bill Eric Shearer, of Knight Frank, said: “This is just the start. I know of three other landlords who will or may be doing the same.” Simpson Buglass of Savils, chair of the Aberdeen and Grampian Chamber of Commerce property sector steering group, said there was around seven years’ office supply on the market in the city. Quote Link to comment Share on other sites More sharing options...
Bear Hug Posted July 12, 2017 Share Posted July 12, 2017 16 minutes ago, Diver Dan said: From today's Press and Journal: Property firm to demolish office block to avoid huge new business rates bill I am very happy that the prices are falling but this feels like such a waste. Confiscate, convert to residential, send Southern unemployed there. Done. Quote Link to comment Share on other sites More sharing options...
shackleford Posted July 12, 2017 Share Posted July 12, 2017 Just now, Bear Hug said: I am very happy that the prices are falling but this feels like such a waste. Confiscate, convert to residential, send Southern unemployed there. Done. It is a waste but on the other hand Aberdeen is pretty well stocked with empty residential property right now! You may have hit on a realistic vision of the future for the town though - cheap property used as a social housing dumping ground by the rest of the country. Quote Link to comment Share on other sites More sharing options...
cashinmattress Posted July 12, 2017 Share Posted July 12, 2017 2 hours ago, shackleford said: It is a waste but on the other hand Aberdeen is pretty well stocked with empty residential property right now! You may have hit on a realistic vision of the future for the town though - cheap property used as a social housing dumping ground by the rest of the country. Not really a waste when you consider just how much office space in the region is available which will never be occupied again. Its not just council taxes...security, maintenance, inspection, insurance, et Al. Europe's oil capital is in terminal decline as is the North Sea. And yes. Aberdeen will become a depository hotspot for social home programs...as noted above. Quote Link to comment Share on other sites More sharing options...
cashinmattress Posted July 13, 2017 Share Posted July 13, 2017 (edited) Attention grabbing headline... http://uk.reuters.com/article/premier-oil-outlook-idUKL8N1K41FH?rpc=401& Quote Premier Oil, which produces more than half its oil in the British North Sea, said on Thursday that exploring for resources in the basin was no longer attractive, a day after it announced a major discovery off Mexico. http://www.thisismoney.co.uk/money/news/article-4686392/SFO-probe-Amec-Foster-Wheeler-corruption-scandal.html Quote The Serious Fraud Office has launched an investigation into possible bribery and corruption at Amec Foster Wheeler, it was revealed last night. It was feared an investigation could threaten rival Wood Group’s planned £2.2billion takeover of Amec, which shareholders voted through in June. After all, their business models AFW, WG, et al... amount to what could be viewed fraudulent in the way they invoice and the aggressive billing/over-billing philosophy... and the repeated f-ups on project delivery.... In line with this article: http://www.offshore-technology.com/features/featurebuild-better-improving-project-delivery-in-the-uk-north-sea-5854726/ Quote The UK Oil & Gas Authority has published a five-year review of new projects in the UK North Sea, and has found that since 2011, only 25% of projects were delivered on time, with an average delay of ten months. The review also found that projects stretched their budgets by an average of 35%. Edited July 13, 2017 by cashinmattress Quote Link to comment Share on other sites More sharing options...
delboypass Posted July 14, 2017 Share Posted July 14, 2017 On 12/07/2017 at 7:36 PM, shackleford said: It is a waste but on the other hand Aberdeen is pretty well stocked with empty residential property right now! You may have hit on a realistic vision of the future for the town though - cheap property used as a social housing dumping ground by the rest of the country. The Government needs to implement a LAND TAX! So the rates are too expensive so they rip it down.. so how much do they get taxed on the land? £0?? Its a joke. And then these companies will build land banks and hold us to ransom Quote Link to comment Share on other sites More sharing options...
shackleford Posted July 14, 2017 Share Posted July 14, 2017 A new luxury hotel in the West End. https://www.eveningexpress.co.uk/fp/news/local/developers-proposal-hotel-former-aberdeen-school-site-wins-backing-planners/ Bravery or stupidity? Quote Link to comment Share on other sites More sharing options...
Diver Dan Posted July 15, 2017 Share Posted July 15, 2017 Houses for sale in Cottage Brae, off Nellfield Place: 9 Cottage Brae 7 Cottage Brae Similar size and decor etc, byt one's on for £275k and the other £195k. Must make for awkward conversations over the garden fence. Quote Link to comment Share on other sites More sharing options...
quine Posted July 15, 2017 Share Posted July 15, 2017 Average rent down by 28% in Aberdeen says P & J https://www.pressandjournal.co.uk/fp/news/aberdeen/1288309/rent-caps-could-be-introduced-in-aberdeen/ "But new figures seen by the Press and Journal indicate the average rent between 2014 and this year has collapsed by 28% as the region feels the full effects of the downturn in oil and gas. The average rent of a one bedroom flat in the city is now £498 per month, down 13.2% from last year." Quote Link to comment Share on other sites More sharing options...
cashinmattress Posted July 15, 2017 Share Posted July 15, 2017 36 minutes ago, quine said: Average rent down by 28% in Aberdeen says P & J https://www.pressandjournal.co.uk/fp/news/aberdeen/1288309/rent-caps-could-be-introduced-in-aberdeen/ "But new figures seen by the Press and Journal indicate the average rent between 2014 and this year has collapsed by 28% as the region feels the full effects of the downturn in oil and gas. The average rent of a one bedroom flat in the city is now £498 per month, down 13.2% from last year." "average"...I wouldn't be settling on the average price of I was renting. Average rent with a 20% discount maybe. Still £500 for a single bed flat is bit much..considering how the economy is and is forecast. I suppose if it covers the BTL mortgage payment. Council tax in the city is dear as well. Quote Link to comment Share on other sites More sharing options...
shortbread Posted July 15, 2017 Share Posted July 15, 2017 5 hours ago, cashinmattress said: "average"...I wouldn't be settling on the average price of I was renting. Average rent with a 20% discount maybe. Still £500 for a single bed flat is bit much..considering how the economy is and is forecast. I suppose if it covers the BTL mortgage payment. Council tax in the city is dear as well. Its lower than 500 now! Yes, you ask your landlord for a discount and they will give you a discount. Everyone wants to retain tenants now. Quote Link to comment Share on other sites More sharing options...
shortbread Posted July 17, 2017 Share Posted July 17, 2017 It is very difficult to understand the City Council's position at a given time on any matter! They are holding discussions around bringing a rent cap in Aberdeen on one hand..... Quote Yesterday the Press and Journal revealed that the city council was to start monitoring private rent levels in the city and the opposition SNP group in the city have said the council has new powers under the Private Housing (Tenancies) (Scotland) Act 2016 to introduce “rent pressure zones”. This would mean that the council could cap any rises in private rent in certain areas of the city. Aberdeen has long had higher rents than most places in Scotland – traditionally driven by high oil and gas wages. Supporters of the scheme point to the lack of certain public sector staff in the city who may be put off by the high rents. Many other European countries have similar regulations. But landlords last night reacted with anger to the idea, pointing the finger of blame at the council for not building enough affordable homes themselves. https://www.pressandjournal.co.uk/fp/news/aberdeen/1289160/rent-cap-debate-landlords-weigh-in/ On the other hand, they are looking at raising rents at their end.... Quote The committee decided the new rent setting policy of Retail Price Index (RPI)+1% for years 2017/18 to 2019/20. In accordance with the new policy we are now consulting all tenants on a 2.9% rent increase for 2017/18 to apply from 3rd April 2017. 1 http://www.aberdeencity.gov.uk/nmsruntime/saveasdialog.asp?lID=73675&sID=17719 The real questionnaire the city needs right now is one sent to every City Council 'committee' member to gauge their understanding of the ground reality about what's going on in Aberdeen right now! Quote Link to comment Share on other sites More sharing options...
shortbread Posted July 17, 2017 Share Posted July 17, 2017 Yaay......more houses Quote Plans for more than 100 houses, flats and retirement homes on a new eight-acre estate in Aberdeen could get the go-ahead from councillors next week. Dandara want to build 116 dwellings, comprising two apartment blocks, 35 houses and retirement apartment blocks on a plot of land at Hazelwood, off Countesswells Road. 2 https://www.pressandjournal.co.uk/fp/news/aberdeen/1288090/massive-housing-scheme-plan-could-move-forward/ Quote Link to comment Share on other sites More sharing options...
cashinmattress Posted July 17, 2017 Share Posted July 17, 2017 (edited) 12 hours ago, shortbread said: It is very difficult to understand the City Council's position at a given time on any matter! They are holding discussions around bringing a rent cap in Aberdeen on one hand..... https://www.pressandjournal.co.uk/fp/news/aberdeen/1289160/rent-cap-debate-landlords-weigh-in/ On the other hand, they are looking at raising rents at their end.... http://www.aberdeencity.gov.uk/nmsruntime/saveasdialog.asp?lID=73675&sID=17719 The real questionnaire the city needs right now is one sent to every City Council 'committee' member to gauge their understanding of the ground reality about what's going on in Aberdeen right now! There's more to the Housing Act 2016 than just rent. Rental property investors should read it. http://www.legislation.gov.uk/asp/2016/19/contents/enacted http://www.tltsolicitors.com/insights-and-events/insight/private-housing-tenancies-scotland-act-all-change-for-landlords-and-tenants/ Edited July 17, 2017 by cashinmattress Quote Link to comment Share on other sites More sharing options...
stairlift needed Posted July 18, 2017 Share Posted July 18, 2017 Frank Shearer Knight Frank partner apparently said in June 2016 to Aberdeen Chamber of Commerce news. "The last four years have been the best the commercial property market has been in Aberdeen – ever." Q4 RICS UK Commercial report 2016 "Worst market I have seen in Aberdeen in 30 years." But now the firms spring research seems to be saying that the worst of the downturn in oil and gas is behind us .7000 jobs from harbor expansion could be created.What to believe? TWIT Quote Link to comment Share on other sites More sharing options...
shortbread Posted July 19, 2017 Share Posted July 19, 2017 10 hours ago, stairlift needed said: Frank Shearer Knight Frank partner apparently said in June 2016 to Aberdeen Chamber of Commerce news. "The last four years have been the best the commercial property market has been in Aberdeen – ever." Q4 RICS UK Commercial report 2016 "Worst market I have seen in Aberdeen in 30 years." But now the firms spring research seems to be saying that the worst of the downturn in oil and gas is behind us .7000 jobs from harbor expansion could be created.What to believe? TWIT Frank Shearer on the multi-million pound office block in Dyce being torn down after its owner failed to find a tenant to cover the rates bill: Quote This is just the start. I know of three other landlords who will or may be doing the same Quote Link to comment Share on other sites More sharing options...
Diver Dan Posted July 19, 2017 Share Posted July 19, 2017 Aberdeen house prices drop by nearly 8% More good news in the Evening Express. The Shire is up by about 2.5% though. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted July 19, 2017 Share Posted July 19, 2017 2 hours ago, Diver Dan said: Aberdeen house prices drop by nearly 8% More good news in the Evening Express. The Shire is up by about 2.5% though. Low sales volumes up and down the country skewing everything now I think. I'm seeing sales fall through daily now and asking prices look set for a 2nd/3rd round of reductions. Idiots still buying nicer houses at top whack, no one buying anything else This is not sustainable in any shape or fashion. Quote Link to comment Share on other sites More sharing options...
quine Posted July 19, 2017 Share Posted July 19, 2017 I too have noticed all the "no longer under offer" on previously under offer places. I'm guessing that the lenders are being cautious (for once)? in anticipation of bigger drops. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted July 19, 2017 Share Posted July 19, 2017 (edited) 11 minutes ago, quine said: I too have noticed all the "no longer under offer" on previously under offer places. I'm guessing that the lenders are being cautious (for once)? in anticipation of bigger drops. Something is going on, of that I have no doubt. This seachange seemed to come with either BrExit or the US raising IRs, I dont know which. Maybe the US rate rise is causing problems in the background with banks having to borrow at higher levels Maybe BrExit has just stopped people buying or we haev the prospect of new ponzi entrants drying up. Maybe prices are just so extreme no one believes it will continue. A friend of mine in Kent talks about being trapped down in his 750K house and 500K mortgage and can't move up the pyramid to get a better house. I said last week if the Term funding fraud stops in a few weeks then it's game on. Post 2007 I'd say the government is capable of anything and it's impossible to guess their next lunatic plan. We're all like rabbits in the housing juggernauts headlights, do we go left, do we go right or stand still and hope it goes right over us. Edited July 19, 2017 by TheCountOfNowhere Quote Link to comment Share on other sites More sharing options...
Haddie Posted July 24, 2017 Share Posted July 24, 2017 Aberdeen is going through a state of lethargy, the fundamentals have not charged and the banks are getting tight on people.In the last few years forbearance was given to the people from lender's. That's about to change in Aberdeen. On Wednesday, July 19, 2017 at 5:47 PM, TheCountOfNowhere said: Something is going on, of that I have no doubt. This seachange seemed to come with either BrExit or the US raising IRs, I dont know which. Maybe the US rate rise is causing problems in the background with banks having to borrow at higher levels Maybe BrExit has just stopped people buying or we haev the prospect of new ponzi entrants drying up. Maybe prices are just so extreme no one believes it will continue. A friend of mine in Kent talks about being trapped down in his 750K house and 500K mortgage and can't move up the pyramid to get a better house. I said last week if the Term funding fraud stops in a few weeks then it's game on. Post 2007 I'd say the government is capable of anything and it's impossible to guess their next lunatic plan. We're all like rabbits in the housing juggernauts headlights, do we go left, do we go right or stand still and hope it goes right over us. Quote Link to comment Share on other sites More sharing options...
Toast Posted July 24, 2017 Share Posted July 24, 2017 33 minutes ago, Haddie said: Aberdeen is going through a state of lethargy, the fundamentals have not charged and the banks are getting tight on people.In the last few years forbearance was given to the people from lender's. That's about to change in Aberdeen. Genuine question (not expressing doubt): Is there any particular observation which makes you say that forbearance is about to end? Quote Link to comment Share on other sites More sharing options...
Haddie Posted July 24, 2017 Share Posted July 24, 2017 Sheriff officers say that things are picking up!They have been quiet for a few years due to forbearance .Bank lending is starting to change, and middle men oil company's are starting to give up the ghost .Cash in the mattress is best to explain how the oil job is coming along. Look at the restaurants,bars,clubs ,shops in town. Inflation, smaller pay cheques (If you still have a job) .Read some of Durham Borns posts on the deflation thread and think about Aberdeen city.I well believe that Aberdeen and the North East is away to get whacked. Quote Link to comment Share on other sites More sharing options...
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