Sunday, Jan 25, 2015

Cost to build: 10m Sale price: 3.4m - the real face of deflation?

Mail: Scotland’s most expensive modern home that backs on to Gleneagles is up for sale for £3.4million

The property had originally cost £10million to build and is thought to be Scotland's most expensive modern home
Built in 2007, it boasts a gymnasium, cinema, spa, a two-bedroom house, billiards room and a man-made lake
Its previous owner is former Rangers FC shareholder Graham Gillespie who went bankrupt in 2012

Posted by hpwatcher @ 07:01 PM (4135 views)
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5 Comments

1. mombers said...

Unless the bricks are made of solid gold, there's no way that this cost £10m to build. No doubt it cost say £9m to buy the existing house and land, then tops £1m to demolish and build. Sloppy journalism

Monday, January 26, 2015 10:08AM Report Comment
 

2. hpwatcher said...

Unless the bricks are made of solid gold, there's no way that this cost £10m to build. No doubt it cost say £9m to buy the existing house and land, then tops £1m to demolish and build. Sloppy journalism

Look at the pics.

Monday, January 26, 2015 11:07AM Report Comment
 

3. sneaker said...

Greed overload. Have people forgotten 2007 already?

Tuesday, January 27, 2015 06:57PM Report Comment
 

4. cornishman said...

10 years I've been coming to this site - on and off.

Occasionally I've wondered what the blog would be like when house prices did start to crash.

Maybe this is how it will be? Abandoned. The last bear turned bull.

(I don't know what happened to the thread above. It uploaded itself whilst I was in the middle of typing in my title.)

Tuesday, January 27, 2015 09:51PM Report Comment
 

5. reticent said...

I think people are just adjusting to the need to post housing articles again.

The above one with the broken comments is very interesting. It's surprising, however. No one wants to buy so mortgage rates keep falling. What they hint at with all the mention of margins, but don't explicitly say is that wholesale funding costs have fallen throughkthroughout the year, in spite of FLS ending.

The lack of demand is clearly bearish, however. But clearly there's also no demand to remortgage because everyone has been panicked into fixing for the last few years.

No idea when interest rates will turn the corner at this point but it seems a long way off. All eyes on the election, the CA deficit and the pound at this point. But then there's also cgt changes for foreigners at a time when no one can sell and the pension reforms fuelling BTL.

Lib-lab coalition will bring a council tax overhaul. Here's hoping.

Wednesday, January 28, 2015 07:27AM Report Comment
 

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