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When my parents were selling their house a few years back - EA's just got he functionality to go direct into ESPC and amend things as required.

Maybe ESPC can confirm ?

Correct indeed!

I believe there is currently a small lag between details being updated on our existing site and our new beta site - which you can all play around with and offer feedback on![/shamelessplug]- but that should be in the order of hours rather than days.

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Correct indeed!

I believe there is currently a small lag between details being updated on our existing site and our new beta site - which you can all play around with and offer feedback on![/shamelessplug]- but that should be in the order of hours rather than days.

Thanks, espc – the new site is looking pretty good.

One thing that would be hugely useful would be to require your agents/solicitors to state the size of each property, in square metres, and to enable searches based on this, e.g. three-bedroom flats which are over 110 m². This would enable one to search for genuine three-bedroom flats, for instance, filtering out the two-bedroom tenement flats where the boxroom has been turned into a wee kitchen.

Since the surface area is recorded in the Home Reports, it is surely available for every property on the market. It is a far more useful indicator of size and value than the ridiculous number of ‘bedrooms’ and is, of course, how the rest of the world does things outwith the UK and Ireland.

Would it be possible at least to feed this request back to the ESPC management? Thanks!

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Are other people in Edinburgh finding, like me, that supply has suddenly dried up completely? Virtually nothing in my search has come to the market this week, and I expect that’s how it will remain until the autumn now.

Knew I forgot to mention something. For what it's worth the last couple of weeks have seen 200-250 coming onto the market where in March to May it was more in the 250-300 range. Definitely quieter then, but in line with seasonal norms. Usually you'd expect registration volumes to be realtively consistent over the next few weeks before picking up again in late August, though on the flip side sales are also a little lower over the summer holidays so the number of homes on the market isn't likely to change a great deal.

If you want to track what's coming on you can click the "New on ESPC" link at the bottom left of the homepage to get what's come on in the last 7 days. Not an entirely robust indicator as it changes every day, but that plus the 'active' total should give you a reasonably good handle on the flows to and from the market.

Oh, and I should have said that if you do want to send us feedback on the new site please send it to the email address on the homepage rather than post it here, for we only semi-frequently check these here forums.

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One thing that would be hugely useful would be to require your agents/solicitors to state the size of each property, in square metres, and to enable searches based on this, e.g. three-bedroom flats which are over 110 m². This would enable one to search for genuine three-bedroom flats, for instance, filtering out the two-bedroom tenement flats where the boxroom has been turned into a wee kitchen.

I'd second that. It's a minor irritation to have to jump through solicitor's hoops of requesting a home report by email to find out this basic information.

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Thanks, espc – the new site is looking pretty good.

One thing that would be hugely useful would be to require your agents/solicitors to state the size of each property, in square metres, and to enable searches based on this, e.g. three-bedroom flats which are over 110 m². This would enable one to search for genuine three-bedroom flats, for instance, filtering out the two-bedroom tenement flats where the boxroom has been turned into a wee kitchen.

Since the surface area is recorded in the Home Reports, it is surely available for every property on the market. It is a far more useful indicator of size and value than the ridiculous number of ‘bedrooms’ and is, of course, how the rest of the world does things outwith the UK and Ireland.

Would it be possible at least to feed this request back to the ESPC management? Thanks!

Apologies, I hadn't seen you had already replied before I posted saying "please email us any feedback". Perhaps we posted at almost the same time or, more likely, I'm just that blind. In any event, consider it fed back.

The area isn't currently stored as a field in our own database, but it is in the home report which *is* in our database. We were already looking at trying to pull the valuation from the home report into our database and I would think the principle would be much the same for extracting the floor area. Don't think it'll be feasible to include when the website first goes live simply because of time constraints, but it might be something we can do down the line because I agree that it would be very useful to have.

Thanks for the feedback.

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Apologies, I hadn't seen you had already replied before I posted saying "please email us any feedback". Perhaps we posted at almost the same time or, more likely, I'm just that blind. In any event, consider it fed back.

The area isn't currently stored as a field in our own database, but it is in the home report which *is* in our database. We were already looking at trying to pull the valuation from the home report into our database and I would think the principle would be much the same for extracting the floor area. Don't think it'll be feasible to include when the website first goes live simply because of time constraints, but it might be something we can do down the line because I agree that it would be very useful to have.

Thanks for the feedback.

hmmmmmmmmmmm so useful indeed that I should imagine that if it is on the ESPC website vendors and Estate Agents will have a heart attack!! If they let you put it on there it will be great!!!!!! As MH says there is a great difference between some 2 bed flats and others. I have always done £/sq ft when buying and it has always done us well on resale.

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http://www.espc.com/house-price-news/edinburgh-house-price-reports/june-2011.html

ESPC for June out.

Up on last month.

Down YOY in all markets. Quite a bit down in some.

FTB flats still falling. Now 25% down from peak.

Supply still rapidly outpacing demand.

Avarage up 15K on February's lows.

Is this again similar to the statistical skew ESPC were careful to point out autumn winter 2010?

At the moment, they're not telling.

Whats your thoughts ESPC?

Edited by geneer
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http://www.espc.com/.../june-2011.html

ESPC for June out.

Up on last month.

Down YOY in all markets. Quite a bit down in some.

FTB flats still falling. Now 25% down from peak.

Supply still rapidly outpacing demand.

Avarage up 15K on February's lows.

Is this again similar to the statistical skew ESPC were careful to point out autumn winter 2010?

At the moment, they're not telling.

Whats your thoughts ESPC?

I think these are the quarterly reports as well ? Apr to Jun 2011. Let's hope the EN do a decent story on it.

Gorgie and Dalry one bedders down 25% nominal from peak and more than 40% in real terms*

As I have said for a long time - unless the rest of the market completely disconnects from the FTB market FOREVER - everthing above the FTB market will follow suite. It has to - there is no other way in a market like this - where most move from one level up to the next. Well except for the permanent disconnect of the FTB market for eternity. Possible I suppose - but massively unlikely.

And think of the next tracnhe of FTB's. Saddled with more debt than ever before. I cannot see many of them jumping two footed into this. Long slow decline ahead. Just wonder how long to go.

* Using a rough annual inflation rate of 5% although it has probably been higher for the last 3 years.

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Comparing Apr–Jun with Jan–Mar, it is a very small spring bounce this year, by Edinburgh standards: just 5.8%.

The equivalent city-wide increases for the last few years were 9.8% in 2010, 6.1% in 2009, 11.3% in 2008, and 9.7% in 2007.

The sales volumes are so very low, however, that there is a lot of noise in these figures. I have been looking around for sales prices in Marchmont and Bruntsfield from the last month, now that ourproperty.co.uk and so on have been updated, and it is just a handful of flats which sold. Of particular interest to me is the Marchmont/Bruntsfield average Q2 price in the ESPC report, which is the lowest Q2 figure since 2006. Apart from Q1 2011, which was slightly lower – Marchmont/Bruntsfield had a 1.1% spring bounce – it is the lowest figure since Q1 2009.

Anyway, it has all gone dead for the summer. I shall try to stop looking now, and wait for a rise in activity in the autumn. Q3 prices are usually, but not always, down from Q2

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Comparing Apr–Jun with Jan–Mar, it is a very small spring bounce this year, by Edinburgh standards: just 5.8%.

The equivalent city-wide increases for the last few years were 9.8% in 2010, 6.1% in 2009, 11.3% in 2008, and 9.7% in 2007.

The sales volumes are so very low, however, that there is a lot of noise in these figures. I have been looking around for sales prices in Marchmont and Bruntsfield from the last month, now that ourproperty.co.uk and so on have been updated, and it is just a handful of flats which sold. Of particular interest to me is the Marchmont/Bruntsfield average Q2 price in the ESPC report, which is the lowest Q2 figure since 2006. Apart from Q1 2011, which was slightly lower – Marchmont/Bruntsfield had a 1.1% spring bounce – it is the lowest figure since Q1 2009.

Anyway, it has all gone dead for the summer. I shall try to stop looking now, and wait for a rise in activity in the autumn. Q3 prices are usually, but not always, down from Q2

Yep. There are such low volumes it is difficult to tell in some areas. However for the FTB market it has fallen a lot and is still heading down at a good pace. It seems to be the only market where there is a clear price change and a clear trend that cannot be missed or muddied by such low sales figures.

These sort of studio places in East Craigs 2009 were up for sale at circa 90-95k.

Now they are up at 70k.

PS - Still not selling.

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I think these are the quarterly reports as well ? Apr to Jun 2011. Let's hope the EN do a decent story on it.

Evening News: City flat prices drop below £100k ceiling.

:o:o

Not as dramatic as the headline might lead you to believe, since it's only talking about one-bed flats in Leith Walk/Easter Road and Gorgie/Dalry. Still, I seem to remember there was a time when I didn't really think we'd ever see that again.

Edited by Scunnered
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Evening News: City flat prices drop below £100k ceiling.

:o:o

Not as dramatic as the headline might lead you to believe, since it's only talking about one-bed flats in Leith Walk/Easter Road and Gorgie/Dalry. Still, I seem to remember there was a time when I didn't really think we'd ever see that again.

I also remember a time barely 3 years ago when people were saying I was a lunatic saying prices for these would fall below 100k. I also have a mate who said the second they did he would be in there like a shot. Has he ? Of course not.

How about this other article today in the Scotsman. :o

Prices have to fall

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Evening News: City flat prices drop below £100k ceiling.

:o:o

Not as dramatic as the headline might lead you to believe, since it's only talking about one-bed flats in Leith Walk/Easter Road and Gorgie/Dalry. Still, I seem to remember there was a time when I didn't really think we'd ever see that again.

Excellent bear food. Article is peppered with comedy gold such as

"These unrealistic expectations can cause friction when advice to lower asking prices is offered." :lol::lol:

He also acknowledges that all bets are off if the Eurozone blows up? and pleads that it is a buyers market, but buyers don`t have required deposits or required money to buy :lol::lol: Can`t really be a buyers market then can it? In the cold light of economic reality 90 - 100k to live down Leith Walk or in Dalry seems a LOT.

Edited by dances with sheeple
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I also remember a time barely 3 years ago when people were saying I was a lunatic saying prices for these would fall below 100k. I also have a mate who said the second they did he would be in there like a shot. Has he ? Of course not.

How about this other article today in the Scotsman. :o

Prices have to fall

Nice. lays it out very clearly and simply, first comment mentions this site :D

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In the cold light of economic reality 90 - 100k to live down Leith Walk or in Dalry seems a LOT.

Exactly - all relative.

Nice. lays it out very clearly and simply, first comment mentions this site :D

As above. Compared to 130k ? 96k seems like decent value. However compared to 60k ? Not so much.

People now have it in their minds that prices may well go lower. How sentiment has changed. Therefore 100k is no longer good value. In fact today 100k seems decidedely poor value.

And next year 90k will seem poor value. And the year after 80k. And the year after 70k. And bam - before we know - it places have finally reached decent value after a long 6 year slog. And the rest fo the market will slowly and reluctantly follow on. But by then I reckon barely anyone will even notice. They barely do even today. The interest has wained. Not totally - but enough to make a massive difference.

Looks like this is the way things are going. Nothing is 100% certain though.

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OUCH, and YEAH! That has been a bit of a barrier - still not worth it. £60k, I say.... I've been in some of these flats and you can see from the inside and outside that work is needed in many cases. They're so old now - how long before they fall down. Agree with ccc's comments.

£100k to live in Dalry/Leith Walk - sums it up :D

Grr, exactly what I've been banging on about, East Lothian is just as resilient as Edinburgh:

'The only area of the Lothians to buck the price slide was East Lothian, where the average house price was £226,053, up from £210,521 last year, and £186,860 the previous year.'

Edited by guitarman001
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.......

Grr, exactly what I've been banging on about, East Lothian is just as resilient as Edinburgh:

'The only area of the Lothians to buck the price slide was East Lothian, where the average house price was £226,053, up from £210,521 last year, and £186,860 the previous year.'

I've got the Registers of scotland report from a month or two ago and the figures are far more bear friendly. The ESPC figures are probably less comprehensive as only a proportion of total sales go through the ESPC.

RoS has East Lothian down 9.8% for the year ending Q1 2011, and down 17.8% on the preceeding quarter!

Their website seems to be down at the moment but I'll try and post a link when it comes back up.

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I seem to remember very small flats available in Easter Rd/Dalry around `97, priced at about 40k?

my brother bought a one bed flat just off gorgie road in 2004 or so for about 45k - only one other bidder for the place

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my brother bought a one bed flat just off gorgie road in 2004 or so for about 45k - only one other bidder for the place

we sold ours off gorgie road in 2006 for 92k, when the average drops back below that then it's a proper correction in my view (in 2007 they peaked at about 120k, mental money, suddenly next door's flat was worth a third more for the same space for no apparent reason)

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Visited the Cala Homes development out at Ratho. Been to see a few Cala Homes showhomes. They are invariably more expensive than most of their competitors - possibly their build quality is a bit better than competitors, though I'm not sure about this.

Anyway, they were asking 400-500k - I was astonished - expected about 350-380k, and that would be overpriced in my view. Apparently this doesn't include kitchen, light fittings...probably nothing except the walls and roof.

I suspect people buying in at anywhere near these prices in this market will end up solely regretting their purchase.

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we sold ours off gorgie road in 2006 for 92k, when the average drops back below that then it's a proper correction in my view (in 2007 they peaked at about 120k, mental money, suddenly next door's flat was worth a third more for the same space for no apparent reason)

60-70k is a fair price for these places IMO. Average FTB will be on perhaps 20k or so. The maths is pretty simple. Have been saying this for over 3 years now.Was saying it when the average price was 127k. Still saying it when the average price is 96k. Nobody knows the future 100% - but I am pretty sure my prediction is spot on. Shame we are gonna have to wait another few years to see. Very boring.

Thought things were madder than that in 2004? Long way for these flats to potentially drop then?

Nah - prices for these places literally exploded over a couple of years. Somehow that was deemed as normal - yet if they go in the opposite direction everyone is shocked. :lol: People are mental.

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I seem to remember very small flats available in Easter Rd/Dalry around `97, priced at about 40k?

The increase in the RPI index from May 1997 to May 2011 is a factor of roughly 1.499 so if value is maintained in real terms a very small flat in one of those areas should be priced at about £60,000. Personally, I would then bump that figure somewhat as Edinburgh has grown over those 14 years and central areas have gentrified, but that is subjective so let's leave it. Assuming current rents at £400pm, the gross yield would then be 8% which seems reasonable.

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