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The latest ESPC report suggests prices up 15% year on year in borders and east lothian, which is my target areas!!! I was hoping there would be some distressed sales but there is no sign of that happening. Just lots of money looking for a home. House I had recently bid on on had 8 offers, and went for about 750 I would guess  and the neighbours sold in 2017 for 460... It's a lot of retirees so not much related to wages going on, i would guess it's a flight from risker assests, profit taking long term stocks etc. 

I don't know what it is, but no sign of peak yet....

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The latest ESPC report suggests prices up 15% year on year in borders and east lothian, which is my target areas!!! I was hoping there would be some distressed sales but there is no sign of that happening. Just lots of money looking for a home. House I had recently bid on on had 8 offers, and went for about 750 I would guess  and the neighbours sold in 2017 for 460... It's a lot of retirees so not much related to wages going on, i would guess it's a flight from risker assests, profit taking long term stocks etc. 

I don't know what it is, but no sign of peak yet....

But no House price table as usually accompanies the report (8days later now).

So, likely there are some dips in other neighbourhoods.  The volume of flats in Edinburgh and suburbs is way up on espc, and more FPs available too. 

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I do think this is purely to do with the listings being skewed toward the higher end of the market. Where I live so few smaller flats have come on the market, instead  more prestigious larger homes have been sold by people know have decided to downsize before prices fall. 
 

Interestingly I know two people selling in Edinburgh right now. Both listed in July, one sold to someone else in the block approximately 10% below the home report valuation. Admittedly this was a healthy rise of 30% over the last  5 years none the less.

The other couple I know have a newer centra flat but have only had 2 viewers in all that time!

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I do think this is purely to do with the listings being skewed toward the higher end of the market. Where I live so few smaller flats have come on the market, instead  more prestigious larger homes have been sold by people know have decided to downsize before prices fall. 
 

Interestingly I know two people selling in Edinburgh right now. Both listed in July, one sold to someone else in the block approximately 10% below the home report valuation. Admittedly this was a healthy rise of 30% over the last  5 years none the less.

The other couple I know have a newer centra flat but have only had 2 viewers in all that time!

1435 Edinburgh properties for sale on ESPC right now, much higher than normal for this time of year.

387 (27%) of them at Fixed Price.

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The latest ESPC report suggests prices up 15% year on year in borders and east lothian, which is my target areas!!! I was hoping there would be some distressed sales but there is no sign of that happening. Just lots of money looking for a home. House I had recently bid on on had 8 offers, and went for about 750 I would guess  and the neighbours sold in 2017 for 460... It's a lot of retirees so not much related to wages going on, i would guess it's a flight from risker assests, profit taking long term stocks etc. 

I don't know what it is, but no sign of peak yet....

Prices categorically aren’t up 15%. It’s just not true. 

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  • 2 months later...
On 31/01/2021 at 18:48, Paul77 said:

City centres where average asking rent has fallen most

Inner London £2,219 (-12.4%)

Edinburgh £1,124 (-10%)

Manchester £1,022 (-5.3%)

Birmingham £883 (-4.6%)

Leeds £811 (-4.4%).

https://www.theguardian.com/money/2021/jan/27/private-rents-fall-in-uks-biggest-cities-by-up-to-12-amid-covid-crisis

(from the HPC home page)

 

Can't believe Aberdeen isn't on that list, they must be struggling?

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