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Wood group have also joined the 'reduce headcount' bandwagon. Strange how these firms were quick to focus on reducing staff even before the quarterly results are out!

Makes one wonder whether the scheme is simply encouraging employers to shelve employees and let teh Government bear a brunt of the costs?!

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Wood says ‘employee reductions are being made’ in response to coronavirus

Aberdeen-headquartered energy services firm Wood has said “employee reductions are being made” in order to tackle the effect of the coronavirus outbreak. Headcount reductions, temporary furloughing, unpaid leave and operational salary reductions are among them, with a focus on redeploying workers wherever possible.

When asked to clarify the implications for its Aberdeen workforce, Wood said it is “working to establish the impact of COVID-19 and the subsequent decline in oil price for each region, including the North Sea”.

The firm pointed to a recent deal, which covers jobs offshore, made by Wood and other members of the Offshore Contractors Association (OCA), which will ensure workers receive the government’s furlough scheme if they are at risk of redundancy.

On top of this, Wood’s board and senior leaders, as well as certain other employees, are taking a 10% cut in base salary which is expected to save around £32.2million. A dividend to shareholders, recommended at the end of last year, is also being withdrawn which was expected to cost £128m. Capital expenditure is being cut in some areas to save another £16m – £20m.

Meanwhile Wood annual general meeting, planned for May 7, has been postponed due to the virus, with details of a revised date to be provided “as soon as possible”.

https://www.energyvoice.com/coronavirus/232213/wood-says-employee-reductions-are-being-made-in-response-to-coronavirus/

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Petrofac joins the downsizing trend - Petrofac laying off 20% and reducing salaries

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Reducing costs
In this period of unprecedented disruption, we are taking decisive actions to improve our cost competitiveness and protect the long-term health of our business. These include:

Reducing and structurally rebasing salaries and allowances for our Board, senior management and most of our employees by between 10-15%
Reducing personnel by c.20% and furloughing staff in anticipation of a reduction in activity levels
Reducing non-staff overhead costs by up to 25%
In aggregate, these measures are expected to reduce overhead and project support costs by at least US$100m in 2020 and by up to US$200 million in 2021.

 

 

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Well, at least one of the local builders considers it business as usual for the foreseeable future....

Bancon Homes lodge plans for 200 new homes at Maidencraig South in the west of Aberdeen

Bancon lodges plan for 103 homes at Lochside of Leys in Banchory

And more flats to come in Aberdeen....

Plans submitted to build 86 flats on former University of Aberdeen building

Going forward, surely the only way prices are going to go round here is down thanks to the copious supply of new houses combined with a reduction in employment opportunities with the oil downturn. 

Mind you, still a bit of a drop needed to get down to the average Scottish house price. 

I imagine though that country residences in the shire with good internet connection and a decent sized garden will command a premium in the local market as people learn to appreciate that extra space is a benefit in times of a lock down.

 

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I think once the Coronavirus eventaully ends people will work a lot more from home, people won’t travel quite as much and this will do a lot of further damage to the already declining rental market

with any luck this might also get rid of the scumlords making there neighbours lives hell with all their lettings on Airbnb . I know of so many people who’s lives are being ruined by these people letting out flats and houses by the night and having to put up with  all the extra noise , rubbish wear and tear to communal areas associated with it.

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Trade union disgust as Archer plans 130 North Sea job losses

Unite has claimed drilling contractor Archer intends to make 130 North Sea workers redundant. The union branded Archer “disgusting” and vowed to “explore all legal options”, including lodging unfair dismissal cases for workers.

A spokesman for Archer, which has an office in Blackburn, near Aberdeen, said the company regretted the job losses and would try to redeploy some employees as well as offering voluntary redundancies. Archer said the government scheme would only provide support for a limited time, whereas clients’ drilling activities were unlikely to recover for a prolonged period. It means the positions which are at risk won’t be required “for the foreseeable future”, he said.

Last month, Energy Voice revealed 47 offshore jobs at Archer were at risk due to client Ithaca Energy’s plans to reduce activity levels on its Alba and Captain platforms. Unite said today that Archer employees on a number of platforms operated by Repsol Sinopec, including Claymore and Piper Bravo, would also be laid off.

Archer said: “The purpose of the furlough scheme is to retain personnel in order to ensure normal operations are resumed once the restrictions put in place to control the spread of Covid-19 have been lifted.

“A number of Archer’s clients have stated that they are reducing the scope and scale of their operations due to a number of factors, including the low oil price, the wider global macroeconomic situation and the coronavirus.

“Our clients in the UK have not given any indication they will resume operation within 2020, and in some cases 2021 is also under evaluation.

“Whilst these conditions persist, we do not anticipate a return to a level of operations seen prior to the fall in the price of oil, even after the Covid-19 restrictions have been lifted."

https://www.energyvoice.com/oilandgas/north-sea/234268/trade-union-disgust-as-archer-plans-130-north-sea-job-lossesarc/

Pointing fingers solely a employers is not going to resolve this situation.

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More announcements:

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Fears for 200 jobs as KCA workers face redundancy

Portlethen-based drilling firm KCA Deutag is consulting on making redundant its staff who work on behalf of Total, EnQuest and Canadian Natural Resources (CNR). Around 200 oil workers are to be laid off and staff are furious they are not being furloughed.

KCA cited the coronavirus impact on oil prices and claimed it was not viable to furlough staff on 80% pay, stumped up by the government, sparking confusion among staff.

https://www.energyvoice.com/oilandgas/north-sea/234625/fears-for-200-jobs-as-kca-workers-face-redundancykca/

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Borr Drilling urged to reconsider redundancy plans for 230 North Sea workers

Borr Drilling, whose UK base is in Westhill, has sent out an email to staff, seen by Energy Voice, stating it is “unable to secure future employment” for workers on two rigs and has started a redundancy consultation process. The offshore drilling firm has been urged to reconsider its plans to make 230 North Sea employees redundant.

The email, from North Sea operations director Ray Watkins, makes no mention of the potential for staff to be furloughed under the government’s coronavirus job retention scheme.

https://www.energyvoice.com/coronavirus/234571/borr-drilling-urged-to-reconsider-redundancy-plans-for-230-north-sea-workers/

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On 10/04/2020 at 21:32, shortbread said:

Archer said: “The purpose of the furlough scheme is to retain personnel in order to ensure normal operations are resumed once the restrictions put in place to control the spread of Covid-19 have been lifted.

“Whilst these conditions persist, we do not anticipate a return to a level of operations seen prior to the fall in the price of oil, even after the Covid-19 restrictions have been lifted."

Truth is treason in an Empire of lies.

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HM Land Registry: House Price Index Scotland, Feb 2020

Aberdeen house prices fell, -3.6% !

The difference between Glasgow and Aberdeen prices have shrunk from £35k to £9k in 2 years.

Aberdeen city average prices

February'18: £160,631

February'19: £149,341

February'20: £143,990

 

Glasgow city average prices

February'18: £126,515

February'19: £129,405

February'20: £134,611

1554423732_Feb20fall.PNG.c3ea86b7901208448f5dbff02afb1413.PNG

The post election spike has seen most cities record a jump in sales volumes apart from Aberdeenshire, Edinburgh and Dundee. Aberdeen too saw a big jump, Is this last of the positive news we see for the foreseeable future?

 

Aberdeen city sales volumes

December'18: 278

December'19: 330

491984244_Feb20rise.thumb.PNG.abf8010b34d09adf2391ea1be832d7d0.PNG

 

https://www.gov.uk/government/publications/uk-house-price-index-scotland-february-2020/uk-house-price-index-scotland-february-2020

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15 hours ago, shortbread said:

HM Land Registry: House Price Index Scotland, Feb 2020

Aberdeen house prices fell, -3.6% !

The difference between Glasgow and Aberdeen prices have shrunk from £35k to £9k in 2 years.

Aberdeen city average prices

February'18: £160,631

February'19: £149,341

February'20: £143,990

 

Glasgow city average prices

February'18: £126,515

February'19: £129,405

February'20: £134,611

1554423732_Feb20fall.PNG.c3ea86b7901208448f5dbff02afb1413.PNG

The post election spike has seen most cities record a jump in sales volumes apart from Aberdeenshire, Edinburgh and Dundee. Aberdeen too saw a big jump, Is this last of the positive news we see for the foreseeable future?

 

Aberdeen city sales volumes

December'18: 278

December'19: 330

491984244_Feb20rise.thumb.PNG.abf8010b34d09adf2391ea1be832d7d0.PNG

 

https://www.gov.uk/government/publications/uk-house-price-index-scotland-february-2020/uk-house-price-index-scotland-february-2020

And that's before the oil price really fell. 

https://www.investopedia.com/update-on-the-crude-oil-crash-4842924

However the local paper sees everything as an opportunity...

https://www.eveningexpress.co.uk/fp/news/local/property-firm-boss-says-aberdeen-well-placed-to-recover-from-covid-19-and-oil-price-crash/

 

 

Edited by Warwick-Watcher
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Never rains, pours ...

https://www.bbc.co.uk/news/uk-scotland-scotland-business-52446555

I know several people from the NE of England whose financial/retirement plan, after spending literally every they earned, and more, from mid 20s to 40, was to 'lie away from the UK 5 years and save every penny they earned, the come back and retire at 55.'

At the time, I did point out that they have no control over the oil price.

Most oilies I know have had very few months work since 2914. Theres a fair few I know who in their late 40s whove not worked offshore for ~3-5 years. Thee people are never working in OnG again. Not that theyve accepted that and looked for other work.

 

 

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9 hours ago, Ignorantbliss said:

Well, if Aberdeen house prices don't respond to this type of news, there is the making of a great PhD research project to find out why...

EnQuest to cut 530 positions

OGUK warns of up to 30000 job losses

 

Well they'll simply counter that with this sort of news.....(all this from Evening Express alone!)

  • House prices remain firm at Persimmon despite lockdown - 29/04/2020
  • Property firm boss says Aberdeen ‘well-placed’ to recover from Covid-19 and oil price crash - 02/04/2020
  • North-east house sales over Christmas highest since 2007, says report - 17/02/2020
  • House prices rise by 0.4% as property market picks up - 07/02/2020
  • Report reveals new Aberdeen road could be helping drive up house prices - 01/02/2020
  • Boost for property market as figures show rise in number of homes sold in Aberdeen - 19/01/2019
  • North-east property market on the up - 18/11/2019
  • Oil recovery means now is the best time in 20 years to buy a home in Aberdeen says property expert - 15/10/2018
  • Aberdeen bypass could boost north-east housing market’ - 08/08/2018
  • ‘Tentative signs’ of recovery in property market as prices in Aberdeen rise - 18/12/2017
  • Signs of recovery as Aberdeen and Aberdeenshire property sales rise - 9/09/2017
  • Aberdeen house sales on the rise for first time since oil slump - 20/03/2017
  • Aberdeen house prices rise more than 1,000 a month - 14/01/2015

Remember since the last slump Aberdeen prices have crashed 30%, yet if you relied on the local rags alone one would think local properties are a fortune multiplier! The news articles are created by using selective data like switching between month on month or YoY whenever it suits them or the Aberdeen Considine generated house price index created by handpicking data (said when describing their own methodology!) etc...etc..

But the fact of the matter is nothing can argue with the science of demand and supply. Yet one would be surprised as to how many gullible folk are convinced by such news on the front pages of local rags! Expect the 'green-shoots of recovery' to make headlines again real soon.

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16 hours ago, shortbread said:

Well they'll simply counter that with this sort of news.....(all this from Evening Express alone!)

  • House prices remain firm at Persimmon despite lockdown - 29/04/2020
  • Property firm boss says Aberdeen ‘well-placed’ to recover from Covid-19 and oil price crash - 02/04/2020
  • North-east house sales over Christmas highest since 2007, says report - 17/02/2020
  • House prices rise by 0.4% as property market picks up - 07/02/2020
  • Report reveals new Aberdeen road could be helping drive up house prices - 01/02/2020
  • Boost for property market as figures show rise in number of homes sold in Aberdeen - 19/01/2019
  • North-east property market on the up - 18/11/2019
  • Oil recovery means now is the best time in 20 years to buy a home in Aberdeen says property expert - 15/10/2018
  • Aberdeen bypass could boost north-east housing market’ - 08/08/2018
  • ‘Tentative signs’ of recovery in property market as prices in Aberdeen rise - 18/12/2017
  • Signs of recovery as Aberdeen and Aberdeenshire property sales rise - 9/09/2017
  • Aberdeen house sales on the rise for first time since oil slump - 20/03/2017
  • Aberdeen house prices rise more than 1,000 a month - 14/01/2015

Remember since the last slump Aberdeen prices have crashed 30%, yet if you relied on the local rags alone one would think local properties are a fortune multiplier! The news articles are created by using selective data like switching between month on month or YoY whenever it suits them or the Aberdeen Considine generated house price index created by handpicking data (said when describing their own methodology!) etc...etc..

But the fact of the matter is nothing can argue with the science of demand and supply. Yet one would be surprised as to how many gullible folk are convinced by such news on the front pages of local rags! Expect the 'green-shoots of recovery' to make headlines again real soon.

Most expensive property in Aberdeen on Rightmove - reduced in April 2019!!! So it's been on the market over a year. Valuation report says "£1.8m" - :):)

https://www.rightmove.co.uk/property-for-sale/property-83469212.html

This one is an "amazing" £351,000 below market value - £499k. I have to say that does seem incredibly cheap compared to SE England.

https://www.rightmove.co.uk/property-for-sale/property-69067356.html

 

Edited by Warwick-Watcher
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Kingswells house - surrounded by 3 sides by commercial buildings.. the field next to it is phase 4 so another commercial building. Landlocked on other side by farmer so no access. has hundreds of protected trees.. im not if they did this because they wouldnt sell or develop.. so this is why this was left.. every view is of an office building.. you do get some land but al restricted in what you can do. Also water flows at front.. you can see in phase 1, they built like a small loch for the water.. i think the water feeds into the Don..whatever the water way that runs through Dyce is called

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On 30/01/2020 at 14:27, Diver Dan said:

Latest ASPC stats are out now for 2019 Q4:

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

Screenshot_20200130-141900__01.jpg.c8b20ac35440e655a7a0f65a8c082b3f.jpg

ASPC is at 5565 for sale and 679 for rent.

Citylets is at 936 for rent.

Latest ASPC stats from Q1 2020:

Screenshot_20200506-130126__01.thumb.jpg.daf08dff81ec0b7ea5af34e925596ab5.jpg

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

Corona was really only on people's minds from about early to mid-March so sale prices and quantities haven't declined that much really. Q2 onwards will probably be a bit of a bloodbath, unless the blurb about pent-up demand is to be believed.

ASPC site at 5429 for sale and 567 for rent.

Citylets is at 1299 for rent.

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2 hours ago, Diver Dan said:

Latest ASPC stats from Q1 2020:

Screenshot_20200506-130126__01.thumb.jpg.daf08dff81ec0b7ea5af34e925596ab5.jpg

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

Corona was really only on people's minds from about early to mid-March so sale prices and quantities haven't declined that much really. Q2 onwards will probably be a bit of a bloodbath, unless the blurb about pent-up demand is to be believed.

ASPC site at 5429 for sale and 567 for rent.

Citylets is at 1299 for rent.

We'd normally be looking for it to start climbing to a peak between now and August but it looks like August will be when properties start getting listed again. Iirc it went just over 7100 last August. I wonder if the market will slingshot past that number when it reopens. 

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5 hours ago, regprentice said:

We'd normally be looking for it to start climbing to a peak between now and August but it looks like August will be when properties start getting listed again. Iirc it went just over 7100 last August. I wonder if the market will slingshot past that number when it reopens. 

I don't pay too much heed of the numbers on the ASPC site anymore, they have been known to rationalise them periodically causing hundreds to disappear overnight without actually being sold.

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  • 441 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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