Jump to content
House Price Crash Forum
Sign in to follow this  
Realistbear

" Significant Slowdown In The Scottish Property Market"

Recommended Posts

http://business.scotsman.com/finance.cfm?id=1063232007

Property market on shaky footings

TERESA "OCH-AYE" HUNTER
SIGNS of a
significant slowdown in the Scottish property market
emerged as the Bank of England delivered another payment shock to borrowers by raising interest rates for the fifth time since last summer, pushing up the cost of a £100,000 repayment mortgage by £17 per month.
According to the latest Halifax quarterly house price survey, published as members of the Bank's Monetary Policy Committee sat down for their meeting, house prices in Scotland rose by just 0.6% over the past three months.
This compares with a more than 8% climb over the first three months of the year, and was the lowest improvement, aside from regions where prices actually fell....

Talk about a screeching halt. Going from 8% down to 0.6% in a quarter must feel like a McClaren-Benz going from 220 MPH to 10 MPH in 5 seconds.

Share this post


Link to post
Share on other sites

Scotland and especially Edinburgh which is my home town has been caught up in the miracle economy. The labour party has been doing its best to give the impression that all is well. Yes there are plenty of coffee shops and tourists but very little else. Edinburgh has survived because of the commercial business ie; Banks , Insurance with probably the highest number of financial institutions per head for any city in Europe. Most people I seem to know work for the Government in some capacity with very little people producing real wealth. Edinburgh could be the place to pick up a bargain as when it all goes to hell there is nothing holding it up.

Share this post


Link to post
Share on other sites
http://business.scotsman.com/finance.cfm?id=1063232007

Property market on shaky footings

TERESA "OCH-AYE" HUNTER
SIGNS of a
significant slowdown in the Scottish property market
emerged as the Bank of England delivered another payment shock to borrowers by raising interest rates for the fifth time since last summer, pushing up the cost of a £100,000 repayment mortgage by £17 per month.
According to the latest Halifax quarterly house price survey, published as members of the Bank's Monetary Policy Committee sat down for their meeting, house prices in Scotland rose by just 0.6% over the past three months.
This compares with a more than 8% climb over the first three months of the year, and was the lowest improvement, aside from regions where prices actually fell....

Talk about a screeching halt. Going from 8% down to 0.6% in a quarter must feel like a McClaren-Benz going from 220 MPH to 10 MPH in 5 seconds.

Which is about twice what you might expect

http://phors.locost7.info/phors11.htm

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 354 The Prime Minister stated that there were three Brexit options available to the UK:

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.