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I have noticed when looking at ESPC is that over several months you will sometimes see multiple flats in the same stair being sold but nothing sold in nearby, identical tenements - maybe confirmation bias, but I have to wonder if there's some kind of maintenance issue or a noisy neighbour they are all escaping.

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7 hours ago, ccc said:

https://www.edinburghnews.scotsman.com/news/edinburgh-council-could-buy-your-tenement-flat-and-rent-it-back-to-get-it-fixed-1-4862182

 

It's not as if anyone could have seen this coming :lol:

 

The council admits that the scale of mixed tenure repairs needed across the Capital is “substantial”.

The move comes after the convener of a Scottish Parliament working group on tenement maintenance said many of Scotland’s tenement properties were “at a condition cliff-edge”.

 

Given the history of Edinburgh council, I wonder if this is some councillor / landlords who have suddenly woken up to section 24 and have whizzed up this scheme to sell their dodgy BTL investments on to the council for a quick profit.

It really wouldnt surprise me given their previous form.

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Westfield Avenue, Edinburgh

The Plan:

Client:                Dunedin Canmore HA / Hart Builders (Edinburgh) Ltd
Architect:           7N Architects
Cost: Phase 1:   £3m to £5m (3 Blocks) / Phase 2: £5m (1 Block)

New build, affordable apartments with office accommodation. Modular light steel frame for 3 No. 5-7 storey blocks with 8 No. open plan business units constructed using hot rolled steel podium frames.

https://www.ruddconsult.com/portfolio_items/westfield-avenue-edinburgh/

The reality:

Edinburgh housing estate residents ‘living in fear’ and paying police for extra protection.

 

It is like a scene from the black comedy TV hit Shameless – only this is all too real for the vulnerable residents of one Edinburgh housing estate. And there is certainly nothing funny about it.

A television hurled from a top floor flat. A disabled resident forced to cower in their flat while the door is battered by a deranged neighbour with a hammer. A heroin user ramming the building with his mobility scooter.

https://www.edinburghnews.scotsman.com/news/crime/edinburgh-housing-estate-residents-living-in-fear-and-paying-police-for-extra-protection-1-4939535

 

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On 08/06/2019 at 15:18, Habeas Domus said:

Westfield Avenue, Edinburgh

The Plan:

Client:                Dunedin Canmore HA / Hart Builders (Edinburgh) Ltd
Architect:           7N Architects
Cost: Phase 1:   £3m to £5m (3 Blocks) / Phase 2: £5m (1 Block)

New build, affordable apartments with office accommodation. Modular light steel frame for 3 No. 5-7 storey blocks with 8 No. open plan business units constructed using hot rolled steel podium frames.

https://www.ruddconsult.com/portfolio_items/westfield-avenue-edinburgh/

The reality:

Edinburgh housing estate residents ‘living in fear’ and paying police for extra protection.

 

It is like a scene from the black comedy TV hit Shameless – only this is all too real for the vulnerable residents of one Edinburgh housing estate. And there is certainly nothing funny about it.

A television hurled from a top floor flat. A disabled resident forced to cower in their flat while the door is battered by a deranged neighbour with a hammer. A heroin user ramming the building with his mobility scooter.

https://www.edinburghnews.scotsman.com/news/crime/edinburgh-housing-estate-residents-living-in-fear-and-paying-police-for-extra-protection-1-4939535

 

Nice find, thanks..!

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What do we think the impact in Edinburgh will be when the market reopens later this year? 
 

The rental market is flooded with city centre flats with the towels on beds and with the festival cancelled this year I can’t see the Airbnb rentals being viable anytime soon. 

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On 09/03/2020 at 19:16, simvastatin said:

This has been removed, pity i would like to read it and feel smug knowing there are places much worse than Hackney

https://www.scotsman.com/news/crime/edinburgh-housing-estate-residents-living-fear-and-paying-police-extra-protection-2466101

Looking at street view for Westfield Avenue in Gorgie... Ford Ka, Vauxhall Corsa, Range Rover Evoke, Toyota Aygo... hhmmm I wonder which one might be the drug dealer???

This is one reason I will never buy in a modern high density estate, the "affordable housing" may be only mandated for 10% of the houses but thats 10% too many when they hand it over to problem tenants like these.

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On 4/11/2020 at 11:45 AM, Rian1988 said:

What do we think the impact in Edinburgh will be when the market reopens later this year? 
 

The rental market is flooded with city centre flats with the towels on beds and with the festival cancelled this year I can’t see the Airbnb rentals being viable anytime soon. 

The market was crazy just prior to lockdown - stuff we where bidding on going for 20% over home value report.  I suspect it's gonna be very much bisness as usual at the upper end of the market.  Not sure about city center flats, i can't see them dropping much.

 

I think the main thing that will hold prices up is the blind bidding system here - it's gonna be very hard for people to how much less to bid in a falling market. 

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11 hours ago, Martin_JD said:

The market was crazy just prior to lockdown - stuff we where bidding on going for 20% over home value report.  I suspect it's gonna be very much bisness as usual at the upper end of the market.  Not sure about city center flats, i can't see them dropping much.

 

I think the main thing that will hold prices up is the blind bidding system here - it's gonna be very hard for people to how much less to bid in a falling market. 

? Were you meant to be on at the festival this year ? 

Finger in the air about 80% of potential house buyers in Edinburgh have had their income / earnings / future hopes smashed. 

The housing market will be brutal. 20-30% easily. 

It's already happened. 

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On 26/04/2020 at 11:08, ccc said:

? Were you meant to be on at the festival this year ? 

Finger in the air about 80% of potential house buyers in Edinburgh have had their income / earnings / future hopes smashed. 

The housing market will be brutal. 20-30% easily. 

It's already happened. 

Apart from buyer's earnings, there is the AirBnB factor.  AirBnB density in central Edinburgh is incredibly high, even comparing worldwide - this was a big factor in the HPI we've seen in recent years, ordinary buyers needing to compete against investors.  The AirBnB owners are looking at a year+ of voids and that's going to change things a lot.  Also it's not clear which Universities will teach in-person next year, so landlords renting to students are likely to lose income too.  No question that there will be higher supply and lower demand, and that is going to have an effect.

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Starting to now see a few 1 bed eh1 type places on Rightmove. At least a couple of hosts are making an exit. Will be interesting to see how quick those properties shift. 

Most seem to be going on the rental market though, not sure who is going to pick up that supply given there will be a lack of demand from those working in hospitality or tourism sector. 

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On 01/05/2020 at 17:39, Paul77 said:

https://www.airdna.co/vacation-rental-data/app/gb/default/edinburgh/overview

8300 Active Rentals wow! See the map, we're living in a big big hotel! I hope the airbnb brigade will be smashed so I can finally buy a property to live in without overpaying..!

It's scandalous.

I do wonder why the council hasn't done anything about this when they are constantly going on about housing pressure in the city.....

Corrupt as. They are all in neck deep. I want them all to lose everything. Utter scum imo. 

May sound harsh but we are talking about council officials here choosing to destroy people's lives and futures just to make a fast buck. 

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On 4/26/2020 at 11:08 AM, ccc said:

? Were you meant to be on at the festival this year ? 

Finger in the air about 80% of potential house buyers in Edinburgh have had their income / earnings / future hopes smashed. 

The housing market will be brutal. 20-30% easily. 

It's already happened. 

 

80% of potential house buyers having their income/earnings smashed?  Do you have any evidence to back this up?

I'm affraid you're living in a dream land if you think there's gonna be a 20-30% drop across the board given how much demand there was before lockdown, if anything i can see prices bouncing up post lockdown.  Time will tell who's the comedian here.

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11 hours ago, Martin_JD said:

 

80% of potential house buyers having their income/earnings smashed?  Do you have any evidence to back this up?

I'm affraid you're living in a dream land if you think there's gonna be a 20-30% drop across the board given how much demand there was before lockdown, if anything i can see prices bouncing up post lockdown.  Time will tell who's the comedian here.

House prices have nothing to do with the 'demand' for houses and everything to do with the supply of credit.

Don't waste your time looking for clues in mumsnet postings, instead look at what the banks are doing.

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1 minute ago, Habeas Domus said:

House prices have nothing to do with the 'demand' for houses and everything to do with the supply of credit.

Don't waste your time looking for clues in mumsnet postings, instead look at what the banks are doing.

I can tell you from first hand experience that when you have over 10 interested parties all bidding on the same house, demand does directly influence the price.  Especially in a blind auction.  

This isn't your mumsnet postings, this is what's actually happening out their in the real world right before lockdown.

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2 hours ago, Martin_JD said:

I can tell you from first hand experience that when you have over 10 interested parties all bidding on the same house, demand does directly influence the price.  Especially in a blind auction.  

This isn't your mumsnet postings, this is what's actually happening out their in the real world right before lockdown.

True, more demand equals higher price. The question is, are we going to see the same level of demand..? AirBnB/BTL Brigade won't be so keen to overbid each other when there is little rental demand expected for unforeseeable future.. Are FTB/OO having enough money to keep these high prices afloat..? Time will tell, in the environment of rising unemployment and overall uncertainty,  me says no.

On the supply side, I'm seeing lots of new properties available for rent, especially in central locations. Some of them will have to sell eventually.

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55 minutes ago, Paul77 said:

True, more demand equals higher price. The question is, are we going to see the same level of demand..? AirBnB/BTL Brigade won't be so keen to overbid each other when there is little rental demand expected for unforeseeable future.. Are FTB/OO having enough money to keep these high prices afloat..? Time will tell, in the environment of rising unemployment and overall uncertainty,  me says no.

On the supply side, I'm seeing lots of new properties available for rent, especially in central locations. Some of them will have to sell eventually.

You make a valid point regarding the AirBnB and BTL properties - I suspect the tax changes on BTL will have an ongoing effect.  I do think there is a acute supply problem in Edinburgh though, particularly with houses towards the mid to upper end of the market.

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10 hours ago, Rian1988 said:

https://www.onthemarket.com/details/8604016/

 

one of the many Airbnb’s to come to the market?

100% sure

how about these two

https://www.mouseprice.com/property-for-sale/ref-32703316/for-sale

https://www.thehouseshop.com/property-for-sale/spottiswoode-road-edinburgh-eh-eh9-1bh/4733601 

 

Edit:

I am checking rightmove for new rental properties daily and 20-40% of "new listings" are actually reductions.

Can't wait for the market to open, I'm expecting a flood of properties for sale.

 

Edited by Paul77
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11 hours ago, Paul77 said:

100% sure

how about these two

https://www.mouseprice.com/property-for-sale/ref-32703316/for-sale

https://www.thehouseshop.com/property-for-sale/spottiswoode-road-edinburgh-eh-eh9-1bh/4733601 

 

Edit:

I am checking rightmove for new rental properties daily and 20-40% of "new listings" are actually reductions.

Can't wait for the market to open, I'm expecting a flood of properties for sale.

 

That first one if definitely an ex-student let (even if they have stuck towels on a few of the beds).  That market is in trouble too.

Love the Spottiswoode Road one but it's a ridiculous price even for that area.

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50 minutes ago, toreveal said:

That first one if definitely an ex-student let (even if they have stuck towels on a few of the beds).  That market is in trouble too.

Love the Spottiswoode Road one but it's a ridiculous price even for that area.

Yes, you're probably right about ex-student let as it has some very cheap looking furniture.

The property market in Edinburgh seems to be attacked from every possible angle, who would have thought..? No tourism, no students, no festival, no immigrants... and S24 on top of that. Just half a year ago it was unsinkable.

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