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Mr. Gruff

Aberdeen, Aspc Stats

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2 hours ago, stingray192 said:

I honestly wouldn’t pay £400k for it, one of the worst looking houses I’ve seen

 

Their best bet would probably be to divide it into 2-3 flats and try to flog them off individually. Either that or one of those dodgy raffles.

It's been on the market for years and nobody who can afford it wants to buy it.

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6 hours ago, Diver Dan said:

BUMP The owners of 10 Stoney-Brokehill Grange have reduced the price once again.

Now yours at the low low price of £875,000.

So from a purchase price of £1,415,000 in 2014 to a 'for sale' price of 875k in 2019! 

WOW, that must be a new national record, nearly a 40% fall. 540k wiped off in 5 years, i.e 108k every year. Any calls on what it would finally sell for?

In the mean time I wonder what's going on in the neighbours minds?!

1633293397_OakhillGrange.PNG.45d871a2c2894de0df3eaed550210ad4.PNG

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16 hours ago, shortbread said:

So from a purchase price of £1,415,000 in 2014 to a 'for sale' price of 875k in 2019! 

WOW, that must be a new national record, nearly a 40% fall. 540k wiped off in 5 years, i.e 108k every year. Any calls on what it would finally sell for?

In the mean time I wonder what's going on in the neighbours minds?!

1633293397_OakhillGrange.PNG.45d871a2c2894de0df3eaed550210ad4.PNG

It will be a lot more than 40% when it eventually sells, these are amongst the worst designed houses anywhere, the amount of steps you have to your front door alone, let alone going anywhere in the house, bringing Prams  in or simply the weekly shop, everything is a hassle, I honestly think anyone who bought these with a mortgage(likely everyone) would be better handing they keys to the mortgage company.

the neighbours must be thinking we are never getting rid of these

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17 hours ago, Diver Dan said:

Their best bet would probably be to divide it into 2-3 flats and try to flog them off individually. Either that or one of those dodgy raffles.

It's been on the market for years and nobody who can afford it wants to buy it.

Don’t think that’s would happen, not enough parking, not the structure and soundproofing Etc Etc in place they would cost hundreds of thousands to convert, , don’t know what the architect was thinking with these

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No surprises here

New build houses are always overpriced no matter where they are in the country.

Smart people, like me, buy them second hand.

Anyone who bought a brand new house in 2013/2014 in Aberdeen is looking at a 20%+ loss

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3 hours ago, stingray192 said:

It will be a lot more than 40% when it eventually sells, these are amongst the worst designed houses anywhere, the amount of steps you have to your front door alone, let alone going anywhere in the house, bringing Prams  in or simply the weekly shop, everything is a hassle, I honestly think anyone who bought these with a mortgage(likely everyone) would be better handing they keys to the mortgage company.

the neighbours must be thinking we are never getting rid of these

I agree with the other posters that this is an unattractive house inside and out. The internal layout is confusing and awkward and the garden is a joke.  One reason they can't hand the keys back to the mortgage company is that the property was bought by a mortgage company as an 'investment" property! 

It's been a slow crash in Aberdeen but it's a crash all the same. Bob at ASPC has done a sterling job trying to talk up the market over the past few years with his relentless 'signs of recovery' articles.  In reality the year-on-year fall in house prices is accelerating as folks become increasingly aware that Aberdeen's near-total reliance on a single non-sustainable industry wasn't a good long term strategy.

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52 minutes ago, Diver Dan said:

Citylets Q3 2019 Report

This came out a few weeks ago but I don't remember anybody posting it yet.

Screenshot_20191110-154455__01__01.thumb.jpg.c62ab2115e818a4fe4ac8d179a8af757.jpg

Rent prices continuing to go down, time on market going up. Any increases from Q2 basically wiped out. Everywhere else in Scotland doing a bit better.

A good friend owns a lot of property in Aberdeen, 7-8 years ago he used to get £750 per month for a fairly basic 2 bed flat, now he gets £500-£550  for the same flats. ,they can sit empty for 5-6 months between tenants, he also owns some luxury apartments and was getting £1400-£1800 for these, they were all let to oil executives and he always had people waiting on them, he is now getting £800-£1000 with long empty periods. 

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5 hours ago, Diver Dan said:

Citylets Q3 2019 Report

This came out a few weeks ago but I don't remember anybody posting it yet.

Screenshot_20191110-154455__01__01.thumb.jpg.c62ab2115e818a4fe4ac8d179a8af757.jpg

Rent prices continuing to go down, time on market going up. Any increases from Q2 basically wiped out. Everywhere else in Scotland doing a bit better.

Thank you Diver Dan. 

Falling rents can be a good thing for Aberdeen, the city becoming cheaper/affordable will hopefully attract more people. New business ventures and start ups need fresh talent. Aberdeen needs to think about life beyond oil, like 10-15 years ago! Better late than never. 

It might sound challenging for landlords who purchased at peak prices and are struggling with mortgage repayments. Time to make tough decisions but they'll surely survive. 

Edited by shortbread

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Screenshot_20191112-184849__01.thumb.jpg.0190775e808ad245c9498839fe506358.jpg

There are reasons to be cheerful about living in Aberdeen. It's ranking in the top 10 out of 42 UK cities for quality of life according to the Demos-PwC Good Growth for Cities Index

https://www.pwc.co.uk/industries/government-public-sector/good-growth.html

There are a few things I don't understand about the study, for example transport in London scores very poorly when there are buses, trains, trams and tubes left right and centre, quite unlike Aberdeen.

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HM Land Registry: House Price Index Scotland, Sep 2019

Aberdeen house price fall continues to gather momentum, now -7.6% !

The official goverment figures are out. Same as previous months, the Aberdeen house price fall has been steeper this month. The YoY fall was -4.4% in Sep'18 and in the latest HPI, its further lowered to -7.6% !

Aberdeen city average price

September'17: £168,928

September'18: £160,131

September'19: £148,021

1322489215_Sep19fall.PNG.ec1c2c0ffbd0b0cea9b3f679e9ea8c07.PNG

 

Edinburgh's price rise continues to look scary.

Quote

Scotland house prices increased by 2.4% in the year to September 2019, up from 1.6% in the year to August 2019. Scotland house prices were growing faster than the UK annual rate of 1.3% in the year to September 2019.

House prices increased over the last year in 25 out of 32 local authority areas. The biggest average price increase was Falkirk, where prices increased by 7.5% in the year to September 2019 to £130,000. The biggest fall was recorded in City of Aberdeen, where average prices fell over the year by 7.6% to £148,000.

In September 2019, the most expensive area to purchase a property was City of Edinburgh, where the average cost was £273,000. In contrast, the cheapest area to purchase a property was East Ayrshire, where the average cost was £101,000.

 

On the bright side the September figures have shown that sales volumes have risen slightly/flat-lined! Which is a positive compared to previous months.

1600985620_Sep19sales.PNG.50594bd5f1fb7864157c4f39607af2ac.PNG

 

https://www.gov.uk/government/publications/uk-house-price-index-scotland-september-2019/uk-house-price-index-scotland-september-2019

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Aberdeen will soon be the cheapest city in Scotland, both Aberdeen and Aberdeenshire falling with low sales volumes as well, I think it’s when you consider Glasgow used to be about half the price of Aberdeen and Edinburgh used to be around the same price as Aberdeen that you realise how bad the crash is. 

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  • 294 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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