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Optimistic Pricing In Edinburgh


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Those last two links just tell me that thinks are still far from being alright in the housing market. Whenever I doubt the crash, I look at that kind of property and say, would I pay 10 times average salary for that. The answer is always NO. that Musselbrough one is horrible!

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Pass this on the way to work, always wondered how much they cost:

http://www.espc.com/buying/297300.html

Quarter of a million!? Jesus, what planet are they on!? I could get better than that for £160k, though in Livingston...!

:lol::lol::lol: shouldn`t laugh, the people who bought that are tragic not funny. Next couple of years that is worth 60k, mark my words!

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:lol::lol::lol: shouldn`t laugh, the people who bought that are tragic not funny. Next couple of years that is worth 60k, mark my words!

I don't know, I don't reckon it'd fall that much! Musselburgh always seems to have 'held up well' but let's see how long that continues. I figure the place looks ok from the outside but needs work done on the interior.. The price for both those I highlighted is simply horrendous. If prices don't come down my situation in the UK is impossible - buy overpriced property close to work or buy cheaper property but with long commute and petrol prices to put up with. At that point it will likely be a move to renting in Germany for a while - I've already started taking the language back up again.

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Couldn't resist posting this:

http://www.espc.com/buying/285371.html

The EA: "Early viewing of this ideally located property is highly recommended at the earliest opportunity."

That was last March! What a moron.

EC.

£145k down to £135k fixed price, no pics!? To be honest Leith Walk wouldn't be my choice at all, especially if I had a car. You'd probably have to pay me to live in a flat there.

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I don't know, I don't reckon it'd fall that much! Musselburgh always seems to have 'held up well' but let's see how long that continues. I figure the place looks ok from the outside but needs work done on the interior.. The price for both those I highlighted is simply horrendous. If prices don't come down my situation in the UK is impossible - buy overpriced property close to work or buy cheaper property but with long commute and petrol prices to put up with. At that point it will likely be a move to renting in Germany for a while - I've already started taking the language back up again.

Well 90k maybe, certainly no more. The overspill of people who worked in Edinburgh during the boom (plus cheap credit of course) drove up prices in places like Musselburgh, as we return to normal this house does not have a great deal going for it? Quarter million is pure fantasy pricing. and quite a sad demonstration of how people have been suckered IMO. Saying that, some chump will probably buy it :o , good luck to them :P

Edited by dances with sheeple
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Well 90k maybe, certainly no more. The overspill of people who worked in Edinburgh during the boom (plus cheap credit of course) drove up prices in places like Musselburgh, as we return to normal this house does not have a great deal going for it? Quarter million is pure fantasy pricing. and quite a sad demonstration of how people have been suckered IMO. Saying that, some chump will probably buy it :o , good luck to them :P

I used to work with someone in one of the big bad boy banks. She was a PA. Probably on about 25k per year max. She had 4 BTL's in Musselburgh.:rolleyes:

Every place I work there are at least 20% + of my team who have some form of interest in 'property investment'. And these are just the ones who are open and talk about it.

It is endemic.

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When you state the price as a fraction of a million pounds it really hits home...

ccc, tell me about it. Musselburgh is rife for BTL. I once went for a viewing and this woman seemed like she was on the 'roids showing us around and trying to interest us. Checked it out online and it had sold 4 weeks ago (this was 2-3 years ago) for £140k (small flat) - she was trying to get offers over £160k!!! With minimal work done to spruce it up etc, the ratbag. I think that's what she did for a living - flipped properties for profit.

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When you state the price as a fraction of a million pounds it really hits home...

ccc, tell me about it. Musselburgh is rife for BTL. I once went for a viewing and this woman seemed like she was on the 'roids showing us around and trying to interest us. Checked it out online and it had sold 4 weeks ago (this was 2-3 years ago) for £140k (small flat) - she was trying to get offers over £160k!!! With minimal work done to spruce it up etc, the ratbag. I think that's what she did for a living - flipped properties for profit.

Well at least some of these people are seeing the 'flip' side to flipping properties nowadays. :D

Only fair afterall. Personally I could not be doing with the hassle. Seems like a nightmare - and without a huge bubble the profits (If there are any) don't seem great for the effort/hassle involved.

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The power of the internet, here I am on the other side of the world reading about Musselburgh house prices which are particulary relevant to me at the moment.

My wife's from Musselburgh and her Mum still lives there in an end of terrace original condition two bedder on Newhailes Cresent, the ones that back on to the National Trust reserve. During the 07 boom it looked as though she would have to go in to an oldies home and had the house valued at around 170,000 to 180,000 pounds, at 90 years old she's still hanging on but it looks like a move is on the cards. It's a tightly held strip along there and no recent sales to compare it against but recent valuations put it around the 130,000 pound mark if she's lucky. Ah well, as Ned Kelly observed as they put the noose around his neck "such is life". I suppose when it comes to house prices one persons loss is anothers gain.

Anyone got any thoughts on that area and prices etc?

Edited by Oxymoron
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I hope no one minds my posting yet another cretin-esque house pricing (I think this might be my form of therapy):

http://www.rightmove.co.uk/property-for-sale/property-22862891.html

Here's the kicker: it's been listed since August 30, 2008. So it's been on the market for around 525 days. Duh. Can't you take a hint? We don't want your shite house at the price you want to sell it for.

EC.

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I hope no one minds my posting yet another cretin-esque house pricing (I think this might be my form of therapy):

http://www.rightmove...y-22862891.html

Here's the kicker: it's been listed since August 30, 2008. So it's been on the market for around 525 days. Duh. Can't you take a hint? We don't want your shite house at the price you want to sell it for.

EC.

Saw the little patio, saw "Blackhall", thought it looked OK, and the price is reasonable, then I realised it is one of the tenement flats on Queensferry Rd. where the 41 bus goes? They are dreaming, 80k, probably less IMO is all you could hope for. The patio shows they have been soaking up their property porn. I am torn between pity and contempt for these types of sellers, pity for their childlike belief in the utterances of a couple of c*unts like Phil and Klueless, and contempt for their greed and expectation that someone else should bail them out. ( fflump or somebody will be re - posting this if it sells :lol: )

Edited by dances with sheeple
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Saw the little patio, saw "Blackhall", thought it looked OK, and the price is reasonable, then I realised it is one of the tenement flats on Queensferry Rd. where the 41 bus goes? They are dreaming, 80k, probably less IMO is all you could hope for. The patio shows they have been soaking up their property porn. I am torn between pity and contempt for these types of sellers, pity for their childlike belief in the utterances of a couple of c*unts like Phil and Klueless, and contempt for their greed and expectation that someone else should bail them out. ( fflump or somebody will be re - posting this if it sells :lol: )

:D I'm afraid I don't track many properties DwS least of all places like this. You also won't find me disagreeing that it is absurdly priced-by at least £60k imo.

Of course, 80k is equally absurd. ;)

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I think a fair price for that would be about 120-130k. Doesnt mean it wont go lower though. Same rules apply to the way down as way up I suppose !!

Very 'desirable' area to live in though. Even if it is just a wee flat. Lots of serious money in Blackhall. Sure I remember reading a few years back its got more millionaires per population than anywhere else in the UK - or something mental like that ?!

Which I thought was strange considering places like Chelsea and all. Will try and find a link.

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I know this isn't Edinburgh specific, but it fits the theme of this thread and no doubt captures what some people around here think. Check out this:

http://www.home-truths-blog.co.uk/dont-drop-your-asking-price

I agree with some of what she says, in that in some regards dropping the price of a house is bad strategy for the reasons she mentioned. But what she gets wrong is that it is a bad strategy relative to pricing it properly in the first place, not relative to leaving it on the market at an unrealistic price!

What she should have written is this: Don't price your property unrealistically, because then you'll have to drop your price if you want to sell. But once you do that, the property looks bad for various reasons, and you'll end up getting _less_ than if you priced it correctly the first time.

By the way, her mantra is that she 'passionately believes people don't buy homes on price'. Lords knows why. Obviously they don't buy _only on price_. But nobody thinks they do. So her passionate belief is either a platitude that even a fool believes or it is the claim that price doesn't matter at all to buyers, which is insane.

EC.

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I know this isn't Edinburgh specific, but it fits the theme of this thread and no doubt captures what some people around here think. Check out this:

http://www.home-trut...ur-asking-price

I agree with some of what she says, in that in some regards dropping the price of a house is bad strategy for the reasons she mentioned. But what she gets wrong is that it is a bad strategy relative to pricing it properly in the first place, not relative to leaving it on the market at an unrealistic price!

What she should have written is this: Don't price your property unrealistically, because then you'll have to drop your price if you want to sell. But once you do that, the property looks bad for various reasons, and you'll end up getting _less_ than if you priced it correctly the first time.

By the way, her mantra is that she 'passionately believes people don't buy homes on price'. Lords knows why. Obviously they don't buy _only on price_. But nobody thinks they do. So her passionate belief is either a platitude that even a fool believes or it is the claim that price doesn't matter at all to buyers, which is insane.

EC.

Don`t worry Sam, you can always sign back on with Kleeneze. That is the most tragic thing I have seen in a long time. The fact that there are probably sheeple desperately hanging on to the shite she spouts is even more tragic.

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291451_0.jpg

Not to worry, Pole, you can face that sight for a mere £450,000 now!

6 BF Warrender Park Crescent

At 176 m², that’s £2,556/m². Strange though it may seem, that is actually the going rate around Marchmont at the moment, as I think regular 2-bed flats of about 90 m² have been selling for £250,000 (£2,778/m²). Nevertheless, 9 February will mark its first six months on the market, unless Pole snaps it up before then!

Now under offer. Seems someone likes subterranean living

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That made me laugh. I love the way they quickly realised offers over £440k was scaring people off as nobody in their right mind would bid less than 30% over the offers over price. So a bargain at only 10% over the offers over price. Then they'd obviously got bored at the estate agents and were watching price drop TV and thought what a great concept.

From the layout I suspect they want a retired officer from a submarine as a buyer...

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In an idle moment, I just looked at EH9 and EH10 on Rightmove, rather than ESPC. This brings up the ‘upmarket’ agents like Savills, Rettie and Strutt & Parker, who seem to consider the ESPC to be somehow beneath them.

The ESPC is a marketing tool for the ESPC member firms; it's not a portal available to any agent who wants to 'place an advert' there.

Rettie, Savills, etc aren't ESPC members - therefore they don't have a presence there.

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  • 418 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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