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Mr. Gruff

Aberdeen, Aspc Stats

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10 hours ago, stingray192 said:

Not sure if it’s the same one, the property I’m referring to is beachview apartments, stunning sea views, but the apartments are priced 240-260k and are only about 500 sq ft , it’s a development of six, the living dining and kitchen is only 17ftx12ft

Showed picture to my wife and it definitely is. It trades as Bayview B&B. At my wedding my family filled Bayview and and the Beach Gate House next door.

As I understand it was custom built as a b&b. The family lived in a 'proper' flat above and the other flats were essentially bedsit type accommodation, slightly better than a single room in a b&b but not as good as a 1 bed flat. 

I see the 'penthouse' is £260k, I can't imagine the price the other flats will go for, they will have a much smaller floor space than the 'penthouse'. It says the 6 flats are under development and will be available soon. No idea whether the original developer is selling or if they've sold to a developer.

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23 minutes ago, regprentice said:

Showed picture to my wife and it definitely is. It trades as Bayview B&B. At my wedding my family filled Bayview and and the Beach Gate House next door.

As I understand it was custom built as a b&b. The family lived in a 'proper' flat above and the other flats were essentially bedsit type accommodation, slightly better than a single room in a b&b but not as good as a 1 bed flat. 

I see the 'penthouse' is £260k, I can't imagine the price the other flats will go for, they will have a much smaller floor space than the 'penthouse'. It says the 6 flats are under development and will be available soon. No idea whether the original developer is selling or if they've sold to a developer.

It looks like they must of split the top floor flat into two, the top floor apartment is £260k, the first floor flat is £240k, the penthouse is only 500 sq ft, if they had of kept the top floor as one apartment it would be a lot more desirable 

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Says something about the estate agent that they cannot shift a 4 bedroom property in the centre of Banchory after nearly 3 years - link.

The home report is also seriously out of date (15th July 2016).  Do the owners really want to sell??

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The Stonehaven beach flats, the other one for sale; https://www.aspc.co.uk/search/property/381165/The-Haven--Beachview-Apartments/Stonehaven/

Offers over 240k 

Home report - 215k

I'm tempted to contact the solicitor for fun to ask the owners why?

Have they sunk so much money into it (if it indeed was a B n' b) they are desperately trying to recover costs by just making up their preferred prices?

Perhaps they will get lucky and someone with some spare cash wants a holiday home but in the current climate it just seems wild asking a hilariously high amount over the home report.

Edited by babo456

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I have found recently that if you’re prepared to go into the estate agent, let them see your finances and prove to them you’re in a position to buy they will give you the answers to those kind of questions for any property on their books.

Provided you ask politely of course.

Why not give it a go and report back?

I reckon those flats would do very good business on airbnb, homeaway, booking.com etc, like £2k each per month income based on my experience of doing the same in Aberdeen

BnB owners need to move with the times

 

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I'll drop them an email and see how far I get!

EME, would not be the case that you bought you're let flat(s) when the prices were low, mortgage rates good for buy to let etc and have thus done well out of it Vs. Anyone buying those flats to rent out surely would need a at least a decade plus of full occupancy every month of the year to break even, going by my fag packet maths anyway.

Surely much more against the buy to let or even air bnb in the current climate?

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16 hours ago, EME said:

 

I reckon those flats would do very good business on airbnb, homeaway, booking.com etc, like £2k each per month income based on my experience of doing the same in Aberdeen

BnB owners need to move with the times

 

I disagree, revenue from airbnb or booking,com in Aberdeen is not going to give enough consistent returns to cover mortgage/insurance/council/utility costs etc.

If one simply looks at short notice availability for an entire week on Airbnb there are 270 Aberdeen properties available! Availability 1st week of August is more than 300! How many more Airbnb accommodations can a city like Aberdeen afford?! I have attached evidence;

439379069_airbnbaberdeenAug1week.PNG.beedb01f63633969d39cb433c33fae6b.PNG

44151598_airbnbaberdeenJUn1week.PNG.87cfe85313802602aef5ab2beef459c1.PNG

Aberdeen has the largest number of free properties on Airbnb!

Also people looking for short term accommodation can find an Aberdeen hotel with free breakfast in the £30-40/night range. Names like Hilton, Premier Inn, Best Western etc.... A private landlord on booking.com cant compete with these chains, people are more likely to chose them, especially if they are business travellers. Just check rates on booking.com for a July weekend night!

1509123078_abzhotel.thumb.PNG.d5a4287fc9f192214462097c397581a6.PNG

I notice you have claimed that to have made considerable profits selling property in Aberdeen or had consistent income from rentals, but you must be among the fortunate few. The reality for many btl owners in Aberdeen is quite different.

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I bought in 2007/2008 when prices were higher than now and mortgage rates were 6/7% so no to both

However a decade of renting out and a few lump sum overpayments means I’m now mortgage free on them

Returns on airbnb in Aberdeen are much better than the rock bottom long term rent prices. £80-100 per night, 25 nights a month is achievable for a very nice 2 bed with parking for example.

But it only works if you can decorate and furnish the place to a high standard and can be on call to deal with any issues

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33 minutes ago, shortbread said:

I disagree, revenue from airbnb or booking,com in Aberdeen is not going to give enough consistent returns to cover mortgage/insurance/council/utility costs etc.

If one simply looks at short notice availability for an entire week on Airbnb there are 270 Aberdeen properties available! Availability 1st week of August is more than 300! How many more Airbnb accommodations can a city like Aberdeen afford?! I have attached evidence;

439379069_airbnbaberdeenAug1week.PNG.beedb01f63633969d39cb433c33fae6b.PNG

44151598_airbnbaberdeenJUn1week.PNG.87cfe85313802602aef5ab2beef459c1.PNG

Aberdeen has the largest number of free properties on Airbnb!

Also people looking for short term accommodation can find an Aberdeen hotel with free breakfast in the £30-40/night range. Names like Hilton, Premier Inn, Best Western etc.... A private landlord on booking.com cant compete with these chains, people are more likely to chose them, especially if they are business travellers. Just check rates on booking.com for a July weekend night!

1509123078_abzhotel.thumb.PNG.d5a4287fc9f192214462097c397581a6.PNG

I notice you have claimed that to have made considerable profits selling property in Aberdeen or had consistent income from rentals, but you must be among the fortunate few. The reality for many btl owners in Aberdeen is quite different.

I’m not going to link to my airbnbs but there are only around 100 max in that list of 300 that are managed correctly on airbnb and get regular custom.

Many people would rather stay in a quality airbnb rather than a cheap hotel, my price per night kind of proves this, cheap hotels have become cheap accommodation for noisy teenagers apparently (that’s what one guest told me)

I wouldn’t go back to regular renting now

As I say I average 25 nights booked out each month, been doing it over 12 months now

Don’t have to pay council tax if it’s registered a holiday let either :)

 

Edited to say, you’re looking to far ahead too, August isn’t a good indicator as there are always last minute bookings with 2/3 days to go in my experience, try looking at July 

 

Edited by EME

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1 hour ago, EME said:

 

 

Edited to say, you’re looking to far ahead too, August isn’t a good indicator as there are always last minute bookings with 2/3 days to go in my experience, try looking at July 

 

Already shown, 270+ available in the 1st week of July, available to rent for a whole week!

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I can’t imagine there would be the year round demand for Stonehaven, possibly some summer business, next week for whole flat/house Airbnb rental there is 183 available in Aberdeen, with rents mainly at the £40-£50 a night range, when you click on each property there is maybe only 5 or six nights reserved in July, there is a lot with no nights reserved, surprisingly most of the nights booked are weekend nights, suggesting people going partying, God help the neighbours. With short term rentals there is also a lot more wear and tear and constant washing and cleaning

On another note, I recently realised in my car park there is 34 spaces and never more than 3-5 cars parked at any time, I know I’m the only one that uses the apartment on my floor so started to explore the block and I reckon out of 34 apartments there must be only a handful lived in, when I first moved in there was barely a space and parking was extremely tight, none of these apartments are on the market and I don’t imagine very many are let out, this suggests a lot of people are holding on until the market recovers, I only use the house a couple of nights a week but it’s  been like this for a long time, have no idea if it’s busier at weekends 

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Thanks guys, I bow down to your superior knowledge of all things airbnb

Try filtering further for “instant book” and “superhost” for a true number

nobody books places they have to converse with the owner at length first or are not superhost rated

 

Edited by EME

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Zoopla May'19 HPI

The latest Zoopla house price index is out, reports the same thing we have noted on other indices i.e the Aberdeen house price fall is now accelerating!

Quote

House price growth across the UK’s major cities continued to slow in May as affordability remained stretched across much of the country. The average cost of a home climbed by just 1.8% in the year to the end of May, with the rate of growth particularly weak across southern regions, according to the latest Zoopla UK Cities House Price Index.

But there continued to be significant regional variation, with the annual price changes ranging from gains of 5% in Liverpool to falls of 4% in Aberdeen.

Where is the market strongest and weakest?


House price growth continues to be strongest in cities where affordability is less stretched. Liverpool saw the strongest growth of 5% during the past year, followed by Belfast at 4.6% and Nottingham and Leicester, both at 4.5%.

At the other end of the spectrum, property values in Aberdeen are now 4.2% lower than they were in May last year, while prices have slipped by 0.5% in Cambridge and 0.4% in London.

Last month, Glasgow posted the strongest gains at 5.1% over the previous 12 months.

856726599_Abzvsrest2.thumb.PNG.e0e1aad159b33a0246d22739ac298c07.PNG

The interactive chart on the report shows house price changes over the years, and taking Aberdeen's current prices it has simply flat-lined/fallen since 2007! Meaning zero growth over 12 years of asset ownership.

668906344_Abzvsrest.PNG.0fcd38b4bfa37818081980c6814bef3a.PNG

https://www.zoopla.co.uk/discover/property-news/zoopla-cities-house-price-index/#5CrzFg6UtQ3yd69H.97

Edited by shortbread

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sitting bored in an airport yesterday, I started looking at the hundreds of new homes currently for sale in Aberdeen, these are not reflected in the 6470 houses currently listed for sale on aspc, when you go into various sites all builders are seriously struggling, they will pay your solicitors fees, stamp duty, give you furniture packages etc, different incentives, BUT the biggest issue is the future unreleased phases of thousands of houses, in the current climate these will be impossible to sell, this will bring the prices down even more

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6 hours ago, stingray192 said:

sitting bored in an airport yesterday, I started looking at the hundreds of new homes currently for sale in Aberdeen, these are not reflected in the 6470 houses currently listed for sale on aspc, when you go into various sites all builders are seriously struggling, they will pay your solicitors fees, stamp duty, give you furniture packages etc, different incentives, BUT the biggest issue is the future unreleased phases of thousands of houses, in the current climate these will be impossible to sell, this will bring the prices down even more

Looking for a new house at the moment and we've given up looking at the new builds - the incentives are good but it's the hideously small rooms and poor build quality that is making us look at older houses. 

It's a buyers market but the local builders still fixate on building doll houses with tiny gardens - even the developments quite far out of town are afflicted with the same disease (e.g. this new one under construction in Dunecht - link).

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How much does it cost to get there and get back?......when can fly to southern Europe for £22.....easy to find an excellent place to stay for a similar price......not the price of the accommodation all things being equal, it is the rest have to pay to stay there.;)

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2 hours ago, Ignorantbliss said:

Looking for a new house at the moment and we've given up looking at the new builds - the incentives are good but it's the hideously small rooms and poor build quality that is making us look at older houses. 

It's a buyers market but the local builders still fixate on building doll houses with tiny gardens - even the developments quite far out of town are afflicted with the same disease (e.g. this new one under construction in Dunecht - link).

I agree a lot of the four bedroom houses are really the size of a three bedroomed house years ago, and the gardens are postage stamps, also families tend to have a lot more cars than twenty years ago yet there is virtually no parking

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2 hours ago, stingray192 said:

I agree a lot of the four bedroom houses are really the size of a three bedroomed house years ago, and the gardens are postage stamps, also families tend to have a lot more cars than twenty years ago yet there is virtually no parking

Came across this article today - link - from last month discussing the precipitous drop in house size in the last few years. Depressing reading really.

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15 hours ago, Ignorantbliss said:

Came across this article today - link - from last month discussing the precipitous drop in house size in the last few years. Depressing reading really.

I also think Aberdeen is a city with the smallest houses anywhere in the uk, there is a huge amount of one bed flats in old tenements all over Aberdeen, they are a fine first time buy but really no use to a couple or a family, what would be considered starter homes for a family, 3 bed terrace and semi detached homes are such a huge jump that they make it very hard for anyone without an oil salary to buy, much as I don’t want to lose on my own home I have to be realistic and realise the prices has to drop by a serious amount for the properties to start moving again

Edited by stingray192
Original text didn’t sound right !

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On 28/06/2019 at 15:02, stingray192 said:

Aspc has now passed the 6500 mark

Yes another record, now showing 6514! Not long to go before ASPC breaches 7k+ properties for sale, I think!

Even removing the sold properties still listed on the website currently, the numbers are well above 6000!

771389390_aspc01_07II.PNG.5a3c1e6267f5f478a68e7bdec092bc1c.PNG

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Anecdotal update on what my eyes see.

Houses in my vicinity on the road. Aberdein Considine house fell through. Back to For Sale. One of the Stewart Watson homes the sign has gone and the other is still showing under offer.

 

friends house with land. 3 notes of interest and 2 offers. Both rejected. I’ve been lead to believe they were offers over around 8%. But they are expecting >15%. Unfortunately that was around 2 weeks ago. And now it’s went very quiet for them. 

Safe to say they’ve missed the boat I think. The novelty factor has worn off and in it for the long haul now...

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Very interesting article in todays guardian.

Under proposals being considered by Johnson, Teesside, Aberdeen and Peterhead could become economic zones, considered independent for customs purposes, that charge no taxes or tariffs on imports.

https://www.theguardian.com/politics/2019/jul/02/boris-johnson-jeremy-hunt-accused-of-trying-to-turn-uk-into-tax-haven-freeports

I've worked with similar areas in Dubai. It's like a bonded warehouse but on a larger scale. You set up an area defined especially for non resident businesses, they can ship goods to that area, store them then export them without going through customs or paying taxes. Additionally, depending on how it's done, staff also don't pay up tax as they are paid by an over seas company and not working on 'mainland UK'. At least for tax purposes. 

So you could end up working for the cayman islands arm of Schlumberger or similar in a warehouse by Aberdeen harbour, paying no tax, then driving home to cove, cults or whatever at the end of the day.

Dubai have taken it a step further. Instead of simply importing/exporting/storing goods they have also set up freezone areas for specific types of business, a healthcare zone, an education zone etc. These are all really just large industrial estates on the mainland but function legally as if they were a tax haven like the isle of man.

https://en.m.wikipedia.org/wiki/List_of_free-trade_zones_in_the_United_Arab_Emirates

On Boris' list i understand Teeside for industry, but if imagine the including of Peterhead and Aberdeen is initially to do with fishing export rights.... But there is massive scope for businesses to move to these 3 areas to take advantage of the tax breaks. 

I'm not prone to hyperbole, and i hate this expression, but it could be a game changer for Aberdeen and Peterhead.

Edited by regprentice

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2 hours ago, regprentice said:

Very interesting article in todays guardian.

Under proposals being considered by Johnson, Teesside, Aberdeen and Peterhead could become economic zones, considered independent for customs purposes, that charge no taxes or tariffs on imports.

https://www.theguardian.com/politics/2019/jul/02/boris-johnson-jeremy-hunt-accused-of-trying-to-turn-uk-into-tax-haven-freeports

I've worked with similar areas in Dubai. It's like a bonded warehouse but on a larger scale. You set up an area defined especially for non resident businesses, they can ship goods to that area, store them then export them without going through customs or paying taxes. Additionally, depending on how it's done, staff also don't pay up tax as they are paid by an over seas company and not working on 'mainland UK'. At least for tax purposes. 

So you could end up working for the cayman islands arm of Schlumberger or similar in a warehouse by Aberdeen harbour, paying no tax, then driving home to cove, cults or whatever at the end of the day.

Dubai have taken it a step further. Instead of simply importing/exporting/storing goods they have also set up freezone areas for specific types of business, a healthcare zone, an education zone etc. These are all really just large industrial estates on the mainland but function legally as if they were a tax haven like the isle of man.

https://en.m.wikipedia.org/wiki/List_of_free-trade_zones_in_the_United_Arab_Emirates

On Boris' list i understand Teeside for industry, but if imagine the including of Peterhead and Aberdeen is initially to do with fishing export rights.... But there is massive scope for businesses to move to these 3 areas to take advantage of the tax breaks. 

I'm not prone to hyperbole, and i hate this expression, but it could be a game changer for Aberdeen and Peterhead.

Rather interesting if indeed something like this were to happen. I won't profess to understand the benefits/cons in there entirety however. 

I have heard back with regards to the Bayview flats in Stonehaven. 

'This was the decision of the seller to set the asking price higher - because of the location of the properties they are proving popular with viewers and I think that it is the hope of the seller that he will achieve above the valuation'

Stating the obvious I suppose.

 

Edited by babo456

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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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