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Mr. Gruff

Aberdeen, Aspc Stats

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4 hours ago, stingray192 said:

A lot of people want the security of owning there own homes, a lot of couples start of in a one or two bed flat and then when family comes along they naturally need a bigger home, the hope being that you eventually own your home with no mortgage. Renting is a fools game, your rent increases over the tears and your living with other peoples choice of kitchens, bathrooms etc, with no real long term security, all your doing is paying someone elses mortgage :)

We make our choices. Home owners rarely care about renters. Similarly I dont care about people in negative equity.

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Average Scottish house prices suffer first annual fall in 3 years

 

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Property prices in Scotland dropped in February for the first time since March 2016, official figures have shown.

Registers of Scotland figures showed the average price of a property in Scotland in February 2019 was £145,762 – a decrease of 0.2 per cent on February in the previous year.


Aberdeen saw the greatest decrease, with prices falling seven per cent to an average of £149,435, while neighbouring Aberdeenshire also suffered a fall in values of 5.8 per cent.

North of the border, official figures showed that the biggest price increases were in Midlothian and Perth and Kinross where average prices increased by 9.9 per cent to £185,753 and 8.8 per cent to £192,631 respectively. Average price increases were recorded in the majority of local authorities – 22 out of 32 council areas – when comparing prices with the previous year.

Janet Egdell, accountable officer at Registers of Scotland, said: “The average price of a property in Scotland in February 2019 signalled the first annual decrease since March 2016, falling by 0.2 per cent in the year to February 2019.

https://www.scotsman.com/news/politics/average-scottish-house-prices-suffer-first-annual-fall-in-3-years-1-4909494

The Aberdeen crash now weighing heavily on Scottish figures?

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Advice and information for empty home owners

Long-term empty properties can have a damaging effect on the local community and economy. We are looking to increase the supply of housing for local people. So, if you have a property which is empty because it needs work to bring it up to standard, you might benefit from the Council's Empty Homes Initiative. 

An empty home is a property which has been unoccupied for 12 months or more. It is not a second home or holiday home.

There are over 2,000 empty homes across Aberdeen City.

Vacant homes in Aberdeen City qualify for a Council Tax discount of 10% for the first 12 months. If the property remains unoccupied and furnished beyond 12 months, the discount will end, and a 100% additional Council Tax charge will apply. 

Empty homes can be a magnet for anti-social behaviour, crime, vandalism, arson and fly-tipping. Houses left unoccupied can fall into disrepair quite quickly, become a blight on the neighbourhood and have an adverse effect on the neighbourhood. 

Why properties are left empty
A lot of properties are empty for legitimate reasons, and we appreciate that renovations and sales take time. 

Our focus is on advice and support for owners of empty properties. We can provide information about the range of options available to help owners select the solution that is right for them. We also look at what can be done about problematic properties, and those where the owner has no intention of returning a property to use.

https://www.aberdeencity.gov.uk/services/housing/advice-and-information-empty-home-owners

Council tightening screws!

 

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4 hours ago, shortbread said:

And it's not as if you can simply 'Just rent it out, Innit!' anymore. Just look at the latest Citylets report, published today:

Screenshot_20190429-183111__01.thumb.jpg.ff2662aee62c3dfa755f317004c903c4.jpg

Citylets Q1 2019

ASPC at 5787 for sale and 701 for rent.

Citylets at 1255 for rent of which 1055 are flats.

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ASPC Q1 2019 report published today:

https://www.aspc.co.uk/information/house-prices/

There seems to be a little bit of reality (heavily sugar-coated, of course) seeping into the ASPC narrative:

It is very much the case that, in the current market, a well presented property, marketed through a solicitor agent and with the owner being realistic as to expectations, will sell. It is a factor in our market that there are too many houses advertised for sale with unrealistic asking prices and Home Reports that are now well out of date.

Screenshot_20190502-114608__01.thumb.jpg.bc500121d5d2e40ed3114162aeb0ed5f.jpg

Any thoughts?

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ASPC figures are ********! Last year when every other measure showed a decline in Aberdeen house prices, ASPC somehow skewed quarterly figures to show a 0.01% rise; following which there were 'house price recovery' news splashed on the front pages on EE, P&J etc.....

I am convinced their figures are doctored to show a more positive outcome...... a review of their methods shows this!

Quote

Note on methods

The information in this report is based on data provided by the Aberdeen Solicitors’
Property Centre (ASPC) to the Centre for Real Estate Research, University of
Aberdeen.
The price changes shown in Table 1 are calculated after having controlled for the
quality of houses that are sold
, thereby providing a reliable indication of the
underlying market trend.1 

..........................

1 This differs from the information reported in previous Aberdeen House Price Reports where price changes were calculated as the differences in the average prices between two periods.

The University of Aberdeen makes no representation or warranty of any kind in relation to the information and/or data provided in this report, and all such representations or warranties, whether express or implied, including but not limited to warranties of accuracy, completeness, fitness for any particular purpose and non-infringement, are hereby, to the maximum extent permitted by law, excluded and extinguished.

So they hand-pick figures for numbers that suit them! Irony is, despite all this and the verbal sugar-coating, even they cannot hide the downward spiral Aberdeen house prices are stuck in!

For more reliable data I would look at landregistry.data.gov.uk or Rightmove.

Even while ASPC is celebrating the 3rd anniversary of the 'green-shoots of an Aberdeen property recovery!', their website is close to clocking 5800 properties for sale! 

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56 minutes ago, shortbread said:

ASPC today......

6000+ by July?!

1708302152_ASPC03_05.thumb.PNG.1faafc0e65dfb29b7898c79245015144.PNG

Like the man said yesterday, how many of these five thousand, eight hundred and four property listings are just pointlessly clogging up a server or estate agent's window with little to no hope of selling for anything close to asking?

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16 minutes ago, Diver Dan said:

Like the man said yesterday, how many of these five thousand, eight hundred and four property listings are just pointlessly clogging up a server or estate agent's window with little to no hope of selling for anything close to asking?

It's easy for the estate agents to say that.......

But very very difficult for home owners to sell houses at prices much lower that what they bought it for! Especially after paying into a mortgage for years.

Lower house prices is a very difficult fact to digest, many will keep paying into a mortgage convinced of a market recovery! Many Aberdeen sellers are simply waiting in hope, rather than cut their losses and be free of negative equity.

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1 hour ago, shortbread said:

It's easy for the estate agents to say that.......

But very very difficult for home owners to sell houses at prices much lower that what they bought it for! Especially after paying into a mortgage for years.

Lower house prices is a very difficult fact to digest, many will keep paying into a mortgage convinced of a market recovery! Many Aberdeen sellers are simply waiting in hope, rather than cut their losses and be free of negative equity.

This is where a few years of reasonable inflation would help - they will still lose money in real terms, but they are much more likely to sell if they can get back something close to what they originally paid.

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1 hour ago, shortbread said:

STUNNING!

That is a 35% FALL in price, this can definitely be termed as HPC? Must be some sort of UK record that.

How do we know if the prices shown are the actual value the owners have paid? Is it possible for the builders to show a higher price on the registration? 

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31 minutes ago, ABZ_RVK said:

How do we know if the prices shown are the actual value the owners have paid? Is it possible for the builders to show a higher price on the registration? 

I don't think so ABZ RVK, for that the builder would have to show higher profits and pay more taxes ......fool their auditors and ultimately commit fraud! Why risk that? Plus that is not the only indicative sample, there's plenty of such price falls city wide.

The data from http://landregistry.data.gov.uk shows a 24% Fall (table below) in 4 years! While 'Garthdee Farm gardens' can be an extreme example, the fall is well recorded on every credible data source.

811569275_ABZfallchart.thumb.PNG.fe1ecbb5b91288a03fe26b03c44011e4.PNG

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13 minutes ago, shortbread said:

I don't think so ABZ RVK, for that the builder would have to show higher profits and pay more taxes ......fool their auditors and ultimately commit fraud! Why risk that? Plus that is not the only indicative sample, there's plenty of such price falls city wide.

The data from http://landregistry.data.gov.uk shows a 24% Fall (table below) in 4 years! While 'Garthdee Farm gardens' can be an extreme example, the fall is well recorded on every credible data source.

811569275_ABZfallchart.thumb.PNG.fe1ecbb5b91288a03fe26b03c44011e4.PNG

ok. Thanks. If it's real then yes that is quite a big hit to take. 

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3 hours ago, shortbread said:

STUNNING!

That is a 35% FALL in price, this can definitely be termed as HPC? Must be some sort of UK record that.

There's lots of those price falls happening and not just in new builds

 

https://www.aspc.co.uk/search/property/375336/5-Bayview-Road/Aberdeen/

 

5 Bayview Road, bought 2011 for £885k, 2019 offers over 670k

 

 

image.thumb.png.09dadafa345d4d9fe2733b320fe481f1.png

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On 03/05/2019 at 11:49, quine said:

Some people are biting the bullet...Garthdee Farm Gardens is the Lee Crescent North of it's time.  Here's just one example

https://www.aspc.co.uk/search/property/378056/3-Garthdee-Farm-Gardens/Aberdeen/

3 Garthdee Farm Gardens, asking price 2019 - o/o £330

image.thumb.png.f4e5ea388144cefea97d5b2cb96217de.png

Another 5k down today

3 Garthdee Farm Gardens asking price 2019 oo £325k, sold 2014 £434,995

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Research reveals where homes sell the fastest in the UK

Across the UK, homes on the market have been on sale two weeks longer than a year ago on average but properties are selling quicker in one in five town and cities, according to new research. A year ago homes were on the market for 148 days before being sold but the average is now 162 days, the study from home purchase plan provider Gatehouse Bank shows.

Sales have speeded up the most in Oldham where they have been on the market for 27.7% less time than a year ago while properties in Padstow have been for sale for 56.6% longer.

Homes sell the fastest in Rugby after just 85 days, followed by Sale at 95 days, and Edinburgh at 97 days. In contrast the slowest market is in Aberdeen at 320 days, followed by Sunderland at 279 days and then Durham at 264 days.

https://www.propertywire.com/news/uk/research-reveals-where-homes-sell-the-fastest-in-the-uk/

The stark contrast. Edinburgh properties sell within 100 days despite the ridiculous prices, while Aberdeen takes almost a YEAR!

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Looks like ASPC has changed tack, a barrage of media releases asking for more realistic prices from sellers!

Quote

Experts warn of ‘difficult’ year ahead for north-east property market - P&J

Property values in Aberdeen fell 6.1% in the last year, prompting warnings of a “difficult” year ahead.

Market data by estate agents ASPC showed the drop in prices paid between January and March, compared to the same time last year. They also fell compared to the three months at the end of 2018 – down 4.3%.

Stonehaven values fared worse still, dipping 4.7% between October and December. The Aberdeen University Business School research also showed falls in prices paid in Ellon and Stonehaven.

ASPC chairman John MacRae admitted conditions in the local housing market remained tough. He said: “While it is the case that the first quarter of each year (along with the last quarter) is generally less active, the figures do indicate that we continue to face difficult times in our local area.

“It is often the case that the first quarter indicates how the rest of the year will continue and on that basis it looks as if 2019 will continue to be difficult but with some improvement in sales.”

He said: “There is one bright spot, however, in that there are signs of improvement taking place.

“I acknowledge these are modest given the background, but the fact that there have now been three successive quarters where the year-on-year figures for sales are showing an improvement does give some hope that we are slowly turning the corner.”

However, he warned the north-east property market was being impacted by too many house owners wanting unrealistic prices for their homes.

https://www.pressandjournal.co.uk/fp/business/north-of-scotland/1739792/experts-warn-of-difficult-year-ahead-for-north-east-property-market/

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Aberdeen house price slump continues - Scottish Financial News

The first three months of this year saw house prices in Aberdeen (city and suburbs) drop by 4.3 per cent from the final quarter of last year, according to latest data published in a new report from Aberdeen Solicitors’ Property Centre.

The ASPC report, produced in cooperation with the Business School, Centre for Real Estate Research, at the the University of Aberdeen, also revealed that the negative first quarter performance constitutes a year-on-year slump of 6.1 per cent.

The report also found that house prices are down 6.1 per cent on last year and 3.5 per cent over the past five years.

John MacRae, Chairman of the Board of Directors of ASPC said: “The report released by the Centre for Real Estate Research at the University of Aberdeen Business School, for the first quarter of 2019, based on data supplied by ASPC, continues to show that conditions in our local housing market remain difficult.

“While it is the case that the first quarter of each year (along with the last quarter) is generally less active the figures do indicate that we continue to face difficult times in our local area.

“It is very much the case that, in the current market, a well presented property, marketed through a solicitor agent and with the owner being realistic as to expectations, will sell. It is a factor in our market that there are too many houses advertised for sale with unrealistic asking prices and Home Reports that are now well out of date.”

https://www.scottishfinancialnews.com/article/aberdeen-house-price-slump-continues

'Reduce your prices ya bloomin idi0ts! I have a business to run and nae takers at those prices'

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On 10/04/2019 at 09:42, shortbread said:

ASPC moving from strength to strength, breaks another milestone.

More than 5,700 properties for sale now!

435044770_aspc10_04.PNG.767ed0948fe9759e368bef3e767b5109.PNG

More than 150 additional properties piled on within a month! Should breach 6000 by June.

1476206200_aspc09_05.PNG.a975a9e6d56666639fde0b1f71409c98.PNG

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On 17/04/2019 at 13:36, Diver Dan said:

February's Rightmove shows 222 sales in Aberdeen.

ASPC currently at 5710 for sale and 715 for rent.

Citylets has 1197 for rent, of which 1001 are classed as flats.

March's Rightmove shows 236 sales with some pretty spicy reductions from previous sold prices, especially over the last 5 years. Several increases too over 10 years and older prices though, it has to be said.

https://www.rightmove.co.uk/house-prices/detail.html?country=scotland&locationIdentifier=REGION^4&searchLocation=Aberdeen

Shortbread has already posted the for-sales on ASPC but there are also 677 for rent.

Citylets has 1276 for rent, of which 1073 are classed as flats.

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  • 242 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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