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17 minutes ago, shortbread said:

With the city's rents falling every passing month, all the best trying to entice prospective tenants in moving to Torry!

Hopefully it will get to a point where it will be economically viable to merge adjacent tenement flats together to create larger spaces.

If a single 70m2 flat still costs less than two 35m2 ones, plus the renovation costs, that still isn't the case yet.

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26 minutes ago, stairlift needed said:

 

That's for a 25% share - not the whole property.

Surprised no one has mentiond wood group profits down 86%.

http://www.thisismoney.co.uk/money/markets/article-4813638/Profits-Wood-Group-plunge-86-work-dries-up.htmlOr

Total buying Maersk assests in the North Sea - could lead to job losses.

https://www.ft.com/content/38cff01e-8642-11e7-bf50-e1c239b45787

Aberdeen house prices in the Times

https://www.thetimes.co.uk/article/aberdeen-is-only-city-where-house-prices-are-falling-jk9hlf5jx

Edited by babo456
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2 minutes ago, babo456 said:

That's for a 25% share - not the whole property.-------------------------snip

Yes,but find it incredible that a slice of cake should due to greed have that worth-pity the holders of the other slices.

The irony of Techfest (Sir Ian Wood) teaching young people in north east that they can aspire to career in oil seems that boat has sailed.What but housing will the crumbling Pittodrie site be used for?More "Ocean"

In the likelihood of austerity cuts Torry is better placed to live cheap for transport and if you speak a few words of Polish the locals very welcoming to newcomers.

 

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2 hours ago, babo456 said:

That's for a 25% share - not the whole property.

Surprised no one has mentiond wood group profits down 86%.

http://www.thisismoney.co.uk/money/markets/article-4813638/Profits-Wood-Group-plunge-86-work-dries-up.htmlOr

Total buying Maersk assests in the North Sea - could lead to job losses.

https://www.ft.com/content/38cff01e-8642-11e7-bf50-e1c239b45787

Both take overs, Wood group of Amec FW and Total's of maersk Oil, will lead to considerable layoffs. They need to justify the savings to shareholders immediately and the question is how ruthless can they get!

Also once both massive offices in Altens are emptied (Total will absorb Maersk and relocate to Westhill) it would be interesting to see how it affects house prices in the Altens neighbourhood.

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4 hours ago, Diver Dan said:

Hopefully it will get to a point where it will be economically viable to merge adjacent tenement flats together to create larger spaces.

If a single 70m2 flat still costs less than two 35m2 ones, plus the renovation costs, that still isn't the case yet.

getting nearer-zoopla just added attic Victoria Road,£44,995 Zing property Glasgow

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5 hours ago, AD14 said:

 

Looks like Amec's North Sea business will have to be sold to another engineer firm rather than merged with WG's due to competition fears.

http://www.telegraph.co.uk/business/2017/08/02/cma-calls-north-sea-sell-off-ahead-amec-foster-wheeler-deal/

Also, is there enough space at Total's Westhill premises for Maersk staff to move there? 

 

SubSea7 West, new home for Total.

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On 8/25/2017 at 5:21 PM, AD14 said:

Looks like Amec's North Sea business will have to be sold to another engineer firm rather than merged with WG's due to competition fears.

Not so sure about that.

However, the continual cutback on projects and field development is one that will see the end of the big EPC in Aberdeen in time. That is a certainty.

With profit warnings it should be a wake up call to anybody in the region relying on an engineering services firm for your pay packet. There's actually nothing 'difficult' about operating in the North Sea...just difficult in operating in services with outdated business and pricing models.

If you aren't diversifying your career out of this area you'll face an ever more competitive market for less and less money...or might find yourself like a lot who are ex-WG/AMEC types now gainfully employed at Tescos.

And in news that isn't really...Aberdeen City & Shire property values are still dropping.

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Aberdeen House Prices fall 16% since Oil Price Crash!

Quote

Aberdeen continues to register year on year price falls (-3.0%). House prices in Aberdeen have been registering negative annual growth for exactly 2 years. Average house prices are 16% lower since December 2014 as the fall in oil prices impacted the economy.

https://www.hometrack.com/uk/insight/uk-cities-house-price-index/july-2017-cities-index/

 

 

ABZ.JPG

 

Edited by shortbread
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Apparently Aberdeen council need experts now to tell them how healthy the Aberdeen economy is instead of listening to local business - "Prominent experts appointed to advise on Aberdeen economy". The background of the appointed experts is an eye-opener - I wonder if they have ever set foot here in any meaningful way in their lifetime!

Guardian article discussing this a bit more....  "Aberdeen joins councils raising money by selling bonds as cuts bite".

 

 

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22 hours ago, shortbread said:

10 more to reach the 5,500 Milestone on ASPC!!

I'd love to know the reasoning behind the prices that of properties that are currently coming in the market. They all seem to be appearing with similarly unattractive prices to similar places nearby which also haven't sold yet, so why do they think theirs will achieve what their neighbours have clearly failed to do - that is to sell.

 

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16 hours ago, Ignorantbliss said:

Apparently Aberdeen council need experts now to tell them how healthy the Aberdeen economy is instead of listening to local business - "Prominent experts appointed to advise on Aberdeen economy". The background of the appointed experts is an eye-opener - I wonder if they have ever set foot here in any meaningful way in their lifetime!

Guardian article discussing this a bit more....  "Aberdeen joins councils raising money by selling bonds as cuts bite".

 

 

Listening to local businesses might mean that the City Council will end up with actionable recommendations in their hands..............and the City Council is allergic to 'action'.

Economists will publish theoretical  fluff and call them recommendations, which will make it to the pointless local press, eg P-J!! Then it gets forgotten about, the economists line their pockets, the Council gets to claim its done somethings, everyone wins, apart from the city!

Give an economist a real responsibility and their only solution would be to reduce Interest Rates!

27 minutes ago, Diver Dan said:

I'd love to know the reasoning behind the prices that of properties that are currently coming in the market. They all seem to be appearing with similarly unattractive prices to similar places nearby which also haven't sold yet, so why do they think theirs will achieve what their neighbours have clearly failed to do - that is to sell.

 

Spoke to someone working with RBS Home Loans, says there's a lot of difference between buyers and sellers at the moment. Many sellers who can afford their mortgages prefer to wait it out for a better price!

Also the general public have very little visibility of actual selling prices as compared to what's on sites like ASPC! 

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3 hours ago, shortbread said:

Spoke to someone working with RBS Home Loans, says there's a lot of difference between buyers and sellers at the moment. Many sellers who can afford their mortgages prefer to wait it out for a better price!

Also the general public have very little visibility of actual selling prices as compared to what's on sites like ASPC! 

I guess if you bought your flat/house years ago under right to buy or before hpi+++and didn't MEW as much as you could have, you could probably wait almost indefinitely at current asking prices.

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On 01/09/2017 at 7:13 PM, Diver Dan said:

I guess if you bought your flat/house years ago under right to buy or before hpi+++and didn't MEW as much as you could have, you could probably wait almost indefinitely at current asking prices.

Well to realize that one will have to be cold and pragmatic with their financial calculations and view the house purely as a financial asset (or liability!). But for most the heart takes over and it is a very very hard fact to digest that their property is worth less than what they paid for. So people delay the inevitable rather than accept it, or so that is what I think is happening in Aberdeen!

In the meantime the Oil price downturn has apparently had an effect on the number of millionaires in Scotland!

Quote

Wales and Northern Ireland each have 12,500 millionaires while Scotland is home to 30,500.
This is down on the 32,500 millionaires recorded in Scotland in 2010 – with the fall thought to be due to the slump in the oil price in recent years.

This has hit the North Sea oil and gas industry hard, resulting in thousands of job losses, and depressing house prices in areas such as Aberdeen.

http://www.dailymail.co.uk/news/article-4852306/House-price-rise-make-1-79-Brits-21-millionaire.html

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On 21/08/2017 at 11:20 PM, stairlift needed said:

Do you use daft drop or whatever its called,I thought I had bookmarked something but lost it.Do you use Property Bee yourself quine if you don't mind saying?

Relative in Houston dropping home price x3 with only interest on open days from Chinese.

 

Sorry, somehow I was logged out of this site and didn't get notifications.  Don't use Property Bee anymore but I get a summary from ASPC on a daily basis.  Can't remember how I set it up but it tells me when a property has been reduced (happening all the time these days) and when a property has come back on the market as the sale falls through.

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