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On 7/16/2020 at 8:37 AM, shortbread said:

Empty and derelict city centre commercial properties in Aberdeen keep piling up. Makes one wonder what sort of due diligence was done by the city council before pumping hundreds of millions into the Marischal Square development?!

Hopefully the current state of affairs will result in Patrizia abandoning their plans to demolish the Market and replace it with yet another inevitable empty office block.

As a side note, Aberdeen house prices down 5.98% in the past 12 months according to Zoopla.

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Coronavirus: UK sees widespread fall in job vacancies

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Job vacancies have plummeted in recent months because of the COVID-19 crisis. Jobs site CV-Library said there was a 62% fall in job vacancies in the three months to June compared to the same quarter last year.

Cities worst affected by the drop in vacancies included Aberdeen (down 80%), Bristol (70%), Leeds (69%), Birmingham (68%) and Glasgow (down 67%), said the report.

Research by search engine Adzuna.co.uk in April suggested the UK job market is one of the worst hit by the coronavirus pandemic worldwide, with UK job vacancies down 42% nosedive in the 8 weeks to 16 April. The US, Russia, and New Zealand were also among the worst-affected.

Lee Biggins, chief executive of CV-Library, said: “It’s no secret that lockdown measures stunted the UK economy and labour market during this period.

“These figures are pretty bleak and naturally, some industries and locations have been more affected by others, although the market is already showing signs of recovery this month, albeit very slowly.”

Average pay has also dropped in sectors hardest hit by the pandemic. It was down by almost a fifth in leisure and tourism, 9% in charities and 8% in catering, the report added.

https://uk.finance.yahoo.com/news/coronavirus-uk-sees-widespread-fall-in-job-vacancies-050011604.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAMDWTe2zZ553LW1BCP5KAoNcoqWeO-9dR0xTuQOPI_gB2HtA3Wsq5bgkjph67g3Ti7k-oY7OjTC7OBo7xKtvrPvUhb4HqdnumWvzwQZ5ir1ZvO4LldeG3sdbEFSro1syQTyE_B-6xcAyCiS5X_SWrDeA7MF_FWka7qWXyc9DEXcK

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Aberdeen is now regularly making headlines as one of the most affordable cities in the UK

Such reporting will garner a lot of attention from people looking for affordable accommodation in a fairly modern and relatively low crime city in the country. With work from home becoming a growing trend, expensive and heavily dense cities like London, Bristol, Edinburgh might prove to be less popular.

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1. Where are the UK’s stamp duty free hotspots for homes under £500k?

Newly released data from lettings and estate agent, Benham and Reeves, reveals the top locations where you would benefit immediately from the stamp duty holiday with new home for under £500k.

According to the figures, London, Manchester and Birmingham are home to the largest outright number of homes listed for sale at £500,000 or less.

Belfast, Swansea and Aberdeen are the cities with the largest proportion of property stock listed at £500,000 or less as a percentage of all homes listed for sale.

The firm looked at current property stock levels listed for sale on Rightmove across 23 major UK cities to see how many were for sale within the new stamp duty free threshold of £500,000.

They also looked at which city was home to the highest percentage of stock in this price range and which has the most homes sold subject to contract or under offer, to see where would enjoy the most immediate stamp duty free boost for homebuyers.

London also ranks as the city where homebuyers are due to see the most immediate benefit. Of the 42,422 homes listed for sale, 16,409 are already sold subject to contract or under offer. Manchester (3,498) and Bristol (3,475) also rank high in this respect.

Belfast, Aberdeen and Swansea are home to the highest proportion of homes under £500,000 as a percentage of all properties listed for sale. In Belfast, all homes currently listed for sale fall below the new stamp duty threshold, while in Swansea, 98% of homes are listed for sale below £500,000, falling to 97% in Aberdeen.

https://www.propertyreporter.co.uk/property/where-are-the-uks-stamp-duty-free-hotspots-for-homes-under-500k.html

Another one.....

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2. House prices UK: this is where to move for the lowest house prices

Discover the UK regions with the lowest house prices – and those where property is least affordable.

Even with house prices falling for the fourth consecutive month since February, the UK remains a very expensive place to buy property, especially if you're a first-time buyer. Despite anxiety about a property market slump, house prices in many British regions remain highly unaffordable, with the average house price coming in at more than seven times the average salary.  

These aren't the most affordable locations, however, with the average house prices in Cornwall standing at £238,853. This isn't nearly as bad as London, though, which remains highly unaffordable with an average property in Kensington costing £792,582.

Scotland remains a highly affordable region by contrast, with the important exception of Edinburgh, where house prices average over £270,000. If you want to buy a house in Dumfries, Aberdeen, or the Hebrides, on the other hand, you can do so for under £150,000.

1035578388_CovidhousepriceMap.thumb.PNG.c6995f54b92b7209146388330bd4cbba.PNG

https://www.realhomes.com/news/house-prices-uk-this-is-where-to-move-for-the-lowest-house-prices

 

 

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3 hours ago, quine said:

59 Oakhill Grange AB15 5EA.  60 metre square flat.

Sold 2014 for £300k. 

Valued 2019 At £250k. 

Trying to sell July 2020 @ offers over £172k.

 

https://www.aspc.co.uk/search/property/384377/59-Oakhill-Grange/Aberdeen/

I’ve not been to check out the oakhill grange flats in person but I feel that is still mega expensive for a flat in town

£2500 per square metre is about the top price to expect elsewhere in town for a very nice flat in my recent experience

 

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Honestly don’t understand why anyone would want to live in a flat anywhere, especially after Covid, I see the future will be people prioritising outdoor space, so think that townhouses, semis and detached will sell well and flats will continue to be virtually impossible to sell

 

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On 21/07/2020 at 19:19, stingray192 said:

Honestly don’t understand why anyone would want to live in a flat anywhere, especially after Covid, I see the future will be people prioritising outdoor space, so think that townhouses, semis and detached will sell well and flats will continue to be virtually impossible to sell

 

Yes, that flat hasn’t got any kind of private garden access by the look of it, that’s a big consideration for a lot of people now after Covid 

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On 24/07/2020 at 13:39, Ignorantbliss said:

Do sellers not realise that you can see the price history...

http://www.zoopla.co.uk/for-sale/details/51974138

 

Snag_d05e0a.png.c90d8beb00fe8ad81abb8286bde51090.pngSnag_cfbdb3.png.dcec606a2767d63aa567ac541bd13243.png

I've seen Property Bee histories and my ASPC watchlist  show the same house flipping between 'fixed price' and 'offers over' with the occasional price drop or rise by 5% a dozen times in the space of several months before being withdrawn without a sale.

It must drive estate agents mad and it probably turns many buyers away who would be happy to exchange  on that house at a more reasonable price with a more reasonable seller.

I think some people must get off on the feeling of having pictures of their home on the internet and have absolutely no intention of actually selling it, bloody perverts!

Edited by Diver Dan
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ASPC: Aberdeen house prices rise marginally this year

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The price of houses in Aberdeen and its suburbs have risen by 3.5% in the last quarter, signalling a slight recovery after coronavirus lockdown, according to the latest Aberdeen Housing Market Report from Aberdeen Solicitors’ Property Centre Limited (ASPC).

ASPC also found that the house prices in Aberdeen City and its suburbs rose by 0.9% in the past year, while the annualised house price change over five years in the same area is -4.7%.

In the second quarter of 2020, 443 residential dwellings were transacted by ASPC, signalling a change of -57.0% compared to the previous quarter and a change of -64.4% compared to the same quarter a year ago.

The transactions by dwelling type were:

112 flats, a change of -65.3% compared to the previous quarter 2020Q1 and of -69.4% compared to the same quarter a year ago.
178 semi-detached houses, a change of -57.0% compared to the previous quarter 2020Q1 a nd of -61.3% compared to the same quarter a year ago.
153 detached houses, a change of -48.0% compared to the previous quarter 2020Q1 and of -63.3% compared to the same quarter a year ago.
Commenting on these figures, John MacRae, chairman of the board of directors of ASPC, said: “We knew that the Government strategy of lockdown was going to have severe effects for nearly all areas of business; the latest report shows just how dramatic that has been. Compared to the same period in 2019, sales fell by 64%. Given the severity of the lockdown provisions this should not be regarded as unexpected.

“Flats were most affected with a drop in volume of 69% year on year. Semi detached houses saw a drop of 61% year on year. Detached houses saw a drop of 63% year on year. Unsurprisingly, this was matched, during the second quarter, with an even more severe drop in properties coming to market. In the early part of lockdown, new insertions on ASPC dropped almost to zero.

“Since then, however, things progressed and since the easing of lockdown, insertions have risen, quickly, to near normal levels. This activity appears to be matched by sales, although we have to bear in mind that sales were already at lower levels before lockdown.

“One interesting factor is that sales that are taking place are taking place, generally, at a price level slightly below asking price. This may be a good time to buy.

“The inferences to be drawn, if any, from the second quarter are subject to great caution. The low activity, resulting in reduced numbers of transactions, means it would be unwise to reach any fixed view of the current market. The welcome return to more “normal” activity, shown in the last 4 weeks, needs to continue for the remainder of the year, before we can say we seem to be over the worst.”

ASPC never miss the chance to spin the situation - “This may be a good time to buy".

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Trying to get one of mine on the market as previously stated, photographer is booked up for 2 weeks when normally would be a couple of days, surveyor for the home report has said the same.

Seems there could be a huge glut of properties about to come on the market.

Either that or loads of their staff are furloughed to save cash.

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7 hours ago, EME said:

Trying to get one of mine on the market as previously stated, photographer is booked up for 2 weeks when normally would be a couple of days, surveyor for the home report has said the same.

Seems there could be a huge glut of properties about to come on the market.

Either that or loads of their staff are furloughed to save cash.

This is something that is seriously frustrating , a lot of companies are keeping as many of their staff on furlough to save money, this in turn is leaving a lot of businesses running on a skeleton staff, just earlier I went out for furniture for my living room, one of the shops which due to Covid is only open from 10-3 and had one person working over 3 floors there was at least 7-8 potential customers and the girl was under serious pressure, I could of left with half the stock, another shop was only open by appointment due to Covid  and the third closes at 12 on a Friday again due to Covid,these are  locally owned furniture shops and one was fireplaces, normally they have 6-10 staff at any one time, this was belfast, (I am based in Belfast and Aberdeen) these shops lost several thousand pounds as I went into another shop which was actually open and bought everything there, I have been finding this a lot, people are doing up houses, wanting to move etc etc and yet so many staff aren’t working that you can’t get anything done.

even a lot of clothes shops in both places have signs up with extremly limited opening hours due to Covid and social distancing, seriously? If I’m out in town at 9am and the shop isn’t open I’m not going back 

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I was driving along the Mugiemoss Road yesterday because the Auchmill Road is closed on one side and noticed the hoardings around the building site saying that the development had received some prestigious award for the design of the place. Are they insane? They have front doors opening directly onto a congested rat-run with very little in the way of shared green public space and residents' cars parked seemingly on every footpath. That's not what I would consider to be good design.

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On 31/07/2020 at 09:54, EME said:

Trying to get one of mine on the market as previously stated, photographer is booked up for 2 weeks when normally would be a couple of days, surveyor for the home report has said the same.

Seems there could be a huge glut of properties about to come on the market.

Either that or loads of their staff are furloughed to save cash.

But but, I thought your AirBnB was doing so well and you imply you are such a wise investor...why would you be desperately trying to sell?

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1 hour ago, quine said:

But but, I thought your AirBnB was doing so well and you imply you are such a wise investor...why would you be desperately trying to sell?

Thanks for asking, nice to know some people take notes.

The Airbnb is a different property but I’ve had that closed down since mid March, I don’t want to be dealing with COVID issues and mixing with strangers right now even though I am allowed to advertise it again. Will decide what I’m doing with that one if the situation improves or might advertise it for a long term rental as it’s always been popular.
 

The one I’m looking to sell this year is one that I’ve had rented for years to the same person but the lease has come to an end, the lockdown has made me decide I want to put family first rather than deal with unappreciative tenants so I’m looking to sell for funds to put a nice extension on my house, buy a new family car and will probably put the rest away for a rainy day as job security in the oil game doesn’t look good right now!

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On 7/20/2020 at 9:04 AM, shortbread said:

Aberdeen is now regularly making headlines as one of the most affordable cities in the UK

Such reporting will garner a lot of attention from people looking for affordable accommodation in a fairly modern and relatively low crime city in the country. With work from home becoming a growing trend, expensive and heavily dense cities like London, Bristol, Edinburgh might prove to be less popular.

Another one.....

 

Making Devon also be Cornwall will fix the debates about jam or cream first on scones.

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On 7/31/2020 at 5:19 PM, stingray192 said:

This is something that is seriously frustrating , a lot of companies are keeping as many of their staff on furlough to save money, this in turn is leaving a lot of businesses running on a skeleton staff, just earlier I went out for furniture for my living room, one of the shops which due to Covid is only open from 10-3 and had one person working over 3 floors there was at least 7-8 potential customers and the girl was under serious pressure, I could of left with half the stock, another shop was only open by appointment due to Covid  and the third closes at 12 on a Friday again due to Covid,these are  locally owned furniture shops and one was fireplaces, normally they have 6-10 staff at any one time, this was belfast, (I am based in Belfast and Aberdeen) these shops lost several thousand pounds as I went into another shop which was actually open and bought everything there, I have been finding this a lot, people are doing up houses, wanting to move etc etc and yet so many staff aren’t working that you can’t get anything done.

even a lot of clothes shops in both places have signs up with extremly limited opening hours due to Covid and social distancing, seriously? If I’m out in town at 9am and the shop isn’t open I’m not going back 

That's right, they should maintain long opening hours and increased wages and bills for lighting, etc., when demand is low.

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10 hours ago, stingray192 said:

My point is demand is high, they aren’t fulfilling it

Any store of a decent size will have analytics which will indicate when (in normal times) they get most of their business. They will be most likely opening on that basis. Retail figures do not indicate that demand is generally high. 

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On 8/2/2020 at 10:00 AM, quine said:

But but, I thought your AirBnB was doing so well and you imply you are such a wise investor...why would you be desperately trying to sell?

Ah, someone else who noticed this. Also very astute in their choice of jobs and IR 35 understanding, and hugely lucky in his  contractual terms meaning outside after being found in. A truly gifted individual.

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Ok guys, this will be my last post on this site.

I’ve probably said too much about my property circumstances anyway when nobody else does and it’s clearly not appreciated or wanted.

You’ll get no further updates from me :)

All the best! 

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18 hours ago, EME said:

Ok guys, this will be my last post on this site.

I’ve probably said too much about my property circumstances anyway when nobody else does and it’s clearly not appreciated or wanted.

You’ll get no further updates from me :)

All the best! 

Your always had a alternative view of things and this perspective is a welcome change from the general discussion.

The opinion/banter on this thread is what makes it easily among the best on the forum, so there is no need to take it personally + you are a lot tougher than that.

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A good read into the challenges faced by the deprived in Aberdeen due to the oil price crash!

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Brexit, coronavirus, oil, and the struggles of Scotland's north-east

The oil price crash caused by the coronavirus pandemic, the proposed faster transition away from oil and gas to renewable energy and predictions about the impact of Brexit have left many overwhelmed with worry.

In 2017, a report from the Centre for Cities and the Centre for Economic Performance at the London School of Economics concluded Aberdeen’s local economy would be struck by Brexit due to the dominance of oil. 

Towards the end of last year, an analysis report produced by the National Institute of Economic and Social Research predicted a potential hit of 6.3% to GDP – the highest drop anywhere in the UK. Think tanks, independent research, business sector representatives and politicians have mostly projected that the oil and fishing sectors should expect severe challenges with the implementation of new trade deals with the European Union, whether Brexit is hard or soft.

As I write, we have just received another bleak update. According to a Warwick University study, Aberdeen City has seen the highest Brexit cost per head in Scotland at £9000. The combined Covid-19 pandemic and oil crash saw the oil price dive into negative numbers for the first time in history.

Places such as Aberdeen did not fully recover from the last crash of 2014-16. It became a brutal reality of the inherent vulnerabilities of areas which have a large dependency on an industrial giant, particularly because of the fluctuating nature of oil. Our stark inequalities between those who have a lot and those who have little, or nothing, are as shameful to us as they are to our visitors who can see our poverty and decline when they arrive here.

The “hidden deprivation” received more exposure in 2018 when Aberdeen City and Shire outnumbered other Scottish cities on food bank use due to the roll-out of Universal Credit and the oil downturn of 2014. Today, more than 70 organisations are working to address the scale of our food poverty. 

The world needs to reduce oil use and champion a green agenda because of the terrible cost oil production has on the environment. 

WHAT about the concern for families and their livelihoods? It would have been painful to witness the price plummet, with a feeling of deja vu because of the mass redundancies resulting from the 2014 crash. With continued uncertainty on employment and survival between now and the proposed faster transition away from oil and gas into renewable energy, like many people living in Aberdeen, I have been overwhelmed with worry, hearing and reading all the different predictions about the region’s future prosperity and not knowing what to expect or believe.

What will become of Europe’s (not all rich) oil capital? I hope for change, but it must be broad, diverse and humane; we cannot afford to accept a transition that provides anything less.

They should also be addressed by reflecting more broadly on de-industrialisation and opening up the opportunity for discussions on how to revitalise the communities affected humanely. In other words, we need to consider what people want or imagine for their future living here.

When oil was discovered in the 1970s, the gains for the north-east to transform a deprived local economy were laid out in terms of well-paid available work and international investment. However, it also came with a caution attached; if not everyone is included in the transformation the impact on their lives will be negatively profound.

Now is precisely the right moment to capture the voices from Aberdonians, shifting the focus away from the elite figure heads of Oil and Gas UK (OGUK), many of whom will never have to worry about their futures in the same way our young and future generations will, particularly those from areas of unjust deprivation.

While I respect that OGUK has agreed to form a closer relationship with Aberdeen Renewables Energy Group (AREG) regarding the North Sea energy transition, it has also been dominant in controlling much of the conversation for many years through well-funded PR and corporate events.

Perhaps now is the time to ensure our prosperity does not become an agenda to make the rich even richer. There is a genuine concern that, when and if the economy of the north-east improves, not everyone will reap the benefits, and many are at serious risk of being left behind.

https://www.thenational.scot/news/18623634.brexit-coronavirus-oil-scotlands-north-east/

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  • 415 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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