Scunnered Posted September 4, 2007 Share Posted September 4, 2007 (edited) Hot off the presses: Massive plan to revamp docks - 16,000 new houses to be built at Leith Docks in the biggest planning application ever to come before the council. I was just thinking that it was high time we had some new luxury flats in Edinburgh. Edited September 4, 2007 by Scunnered Quote Link to comment Share on other sites More sharing options...
billy-g Posted September 4, 2007 Share Posted September 4, 2007 'West Lothian, next big thing apparently, put you're money down now,' Nice one GordenBrown, nice one. You could Nuke most of West Lothian from space, and it'd be an improvement. The big tell with Edinburgh is will it be like the last crash, where within 2 years, the traditionally good areas with the 4+ bedroom houses started to climb in value again, where the previously 'up and coming' areas remained the smack head ghettos full of council house vermin they always were. Or will the crash be too severe this time? Who knows. Worth a gamble though. One thing is sure though, a newbuild in a field in West Lothian on the fringe of some local, all on the dole/invalidity chav town with a school like something out of Beirut will be as about as desirable as a dose of Ebola. Quote Link to comment Share on other sites More sharing options...
sinclair Posted September 4, 2007 Share Posted September 4, 2007 (edited) I don't know, the number of people I know stretching themselves beyond the maximum, with buy to let and big houses is astonishing. All with the firm expectation of selling a few years down the line and making a huge profit.It might even work as well as enough people seem to believe it and the banks seem quite happy still to lend the money to fund it. Pyramid scheme with the advantage that you use other peoples money to fund it. How can you loose. West Lothian, next big thing apparently, put you're money down now, West Lothian as an investment makes no sense - see no of fixed prices in probably the most attractive West Lothian town: ESPC website (type 'linlithgow into the search box) Edited September 4, 2007 by sinclair Quote Link to comment Share on other sites More sharing options...
Goldfinger Posted September 4, 2007 Share Posted September 4, 2007 (edited) One thing is sure though, a newbuild in a field in West Lothian on the fringe of some local, all on the dole/invalidity chav town with a school like something out of Beirut will be as about as desirable as a dose of Ebola. Can only agree on that one. Better off with a nice weekend shed in Nort Berwick, then. Hot off the presses: Massive plan to revamp docks - 16,000 new houses to be built at Leith Docks in the biggest planning application ever to come before the council. I was just thinking that it was high time we had some new luxury flats in Edinburgh. That is going to be the biggest flaming t@rd ever! Edited September 4, 2007 by Goldfinger Quote Link to comment Share on other sites More sharing options...
gordonbrown Posted September 4, 2007 Share Posted September 4, 2007 West Lothian as an investment makes no sense - see no of fixed prices in probably the most attractive West Lothian town:ESPC website (type 'linlithgow into the search box) It staggers me as well, but I have heard more than one person on about it and have friends jumping on that bandwagon. The whole thing, it's all just so wrong, but it (allegedly) keeps going. I feel myself the waters are a little muddy at the moment and the picture is obscure. My own personal feeling is that Edinburgh will probably be, if not the next, then not far behind Dublin. Quote Link to comment Share on other sites More sharing options...
lulu Posted September 4, 2007 Share Posted September 4, 2007 It staggers me as well, but I have heard more than one person on about it and have friends jumping on that bandwagon. The whole thing, it's all just so wrong, but it (allegedly) keeps going. I feel myself the waters are a little muddy at the moment and the picture is obscure. My own personal feeling is that Edinburgh will probably be, if not the next, then not far behind Dublin. Until the masses apreciate the fact that it is entirely possible for house prices to go down then this stupidness is going to continue. The media (in Edinburgh) do not seem to often report falls in prices so people are oblivious to it all. As someone noted on this thread before the slience from the ESPC on the matter that there has been a 5% drop - only a week after proclaiming that Edinburgh was its own unique entity. The inconsistancy stinks. Quote Link to comment Share on other sites More sharing options...
roblpm Posted September 4, 2007 Share Posted September 4, 2007 Hmmmmmmmmm News doesn't seem to have filtered through to all. This house: http://www.espc.com/EspcPublic/UniversalPa...aspx?rid=246830 Has 21 notes of interest on it after less than a weeks viewings. Will go for more than 30% over asking price I think. So how long will it take for the pent up demand to subside. Might see big falls in newbuild flats in Edinburgh, but there aren't enough family houses to go around. Quote Link to comment Share on other sites More sharing options...
canny man Posted September 4, 2007 Share Posted September 4, 2007 The notes of interest may be because this house actually looks good value in comparison with other Edinburgh properties - detached, OK area, big garden, garage for less than £400k - that's how mad it's become. Quote Link to comment Share on other sites More sharing options...
Guest An Bearin Bui Posted September 4, 2007 Share Posted September 4, 2007 I don't know, the number of people I know stretching themselves beyond the maximum, with buy to let and big houses is astonishing. All with the firm expectation of selling a few years down the line and making a huge profit.It might even work as well as enough people seem to believe it and the banks seem quite happy still to lend the money to fund it. Pyramid scheme with the advantage that you use other peoples money to fund it. How can you loose. West Lothian, next big thing apparently, put you're money down now, There's no doubt that individuals are overstretching themselves and paying silly prices too but the only reason they're doing so is because insitutional investors have hyped up the prices in the first place. They're coming in buying up entire streets or 20-30 apartments at a time so that skews the demand factor to a great degree. They'll be the first to get out though and it'll be new-build apartments / developments that go down first as a result. Once our friends who are overstretching themselves realise how badly they've been caught up in the hype and that their 3-bed plastic Barratt home in Burntisland won't be doubling in price any time soon, they'll soon start recalibrating their expectations. I do agree that there is a shortage of good quality family homes in Edinburgh city (not environs) at the moment and the only new ones they're building are on the flight path or are made of cardboard so maybe good homes in good neighbourhoods will hold their value to some extent - but only if the banks keep on lending large multiples (BIG if) and if the bank managers / NHS managers / Scot Exec managers all keep their jobs and their high salaries (big if for the first of those categories - it's anyone's guess on the other two). Quote Link to comment Share on other sites More sharing options...
Mancghirl Posted September 4, 2007 Share Posted September 4, 2007 Hot off the presses: Massive plan to revamp docks - 16,000 new houses to be built at Leith Docks in the biggest planning application ever to come before the council. I was just thinking that it was high time we had some new luxury flats in Edinburgh. The quotes on the Have your Say bit are pretty bearish. Lots of mentions of Neg Equity. Tee hee. (Unless, of course they have all been made by you lot!!!) Quote Link to comment Share on other sites More sharing options...
Scunnered Posted September 4, 2007 Share Posted September 4, 2007 The quotes on the Have your Say bit are pretty bearish. Lots of mentions of Neg Equity. Tee hee.(Unless, of course they have all been made by you lot!!!) I often have a go, but I managed to restrain myself today. It does seem that the general public is catching on though. The "BUYER BEWARE" sign (photo, explanation) at Granton was pretty amusing Quote Link to comment Share on other sites More sharing options...
Mancghirl Posted September 4, 2007 Share Posted September 4, 2007 I often have a go, but I managed to restrain myself today. It does seem that the general public is catching on though. The "BUYER BEWARE" sign (photo, explanation) at Granton was pretty amusing Good to see the explanation - saw the banner and laughed my erse off. Bloke has a point about the place being full of travellers in a few years - was flat hunting in Leith last Nov/Dec time - any new builds I saw were either empty (never been lived in) or had E.European new arrivals living in (very) multiple occupation e.g. bunk beds etc. And still they build..... One of my mates has just bought a new build up by Ocean Terminal for £220k. I don't envy her. It'll be worth the square root of jack all a couple of years from now. Quote Link to comment Share on other sites More sharing options...
Goldfinger Posted September 4, 2007 Share Posted September 4, 2007 One of my mates has just bought a new build up by Ocean Terminal for £220k. I don't envy her. It'll be worth the square root of jack all a couple of years from now. Seriously, I think such flats will go for less (if not much less) than £100,000 in possibly 2 years time. This Granton poster and the comments -- exactly how you would imagine it to be. Do they have a brothel in that one as well? Quote Link to comment Share on other sites More sharing options...
Muswell Hillbilly Posted September 5, 2007 Share Posted September 5, 2007 There’s no sign of the promised report appearing on the ESPC web site, despite it now being ‘later this week’. Does anyone have any indication as to when the report might appear? It would certainly make a difference from the top stories which are there at the moment (ESPC Media Room). Quote Link to comment Share on other sites More sharing options...
canny man Posted September 5, 2007 Share Posted September 5, 2007 The property guide in today's Scotsman was coy. Mentioned a slowdown, but gave the same old Edinburgh immune chat. In the main news , on the 'Forth Riviera' plans, it was nice to see this quote ' I'm exceptionally underwhelmed by what I'v seen so far. What we need to avoid is the catastrophe of Platinum Point. I've never seen something so badly planned. Platinum Point is just a series of gigantic things from Mars that have landed. Richard Murphy OBE, whose firm has won 15 awards from the Royal Institute of Architects. I doubt they put this on the sales literature. Quote Link to comment Share on other sites More sharing options...
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