Trying to find house in Perth, Scotland-prices not falling

jenniferfluff29

Hi everyone,

Have been reading all your exploits for about 6 mths but now just brave enough to join. Please be gentle.

I have hopefully (fingers crossed) sold my house (having to take a 20% drop) and I am now trying to relocate to Perth, Scotland. Most of the houses there are sitting at offers over and haven't went to fixed price. The prices there do not seem to be getting lower.

Does anyone have any knowledge of the Perth market?

I am thinking of renting for 6 months but I am scared that Perth may never be hit by the current problems and the houses prices will just stay constant then start to increase again (with alot of competition in the process pushing prices up).

Any and all advice would be appreciated.

Thanks

Fluff

grumpy_grizzly_2

Perth (and Perthshire in general) is pretty affluent and somehow seems to be more insulated from the falling market than many areas. I suspect it's far enough away from Edinburgh and Glasgow to not really be affected by what happens there, though Dundee will have more of an impact. From what I've read the economy is still pretty good and there's some majoy employers who are recruiting so that will also keep prices on the level.

In saying that, there is very definitely a six-to-eight month selling season in the area, houses just don't seem to sell in the winter. There's also not the same frantic rush in the market that you get in the cities. However, I do think things have slowed a bit more than usual. There's been a few houses near me that have taken longer to shift than I would have thought. Prices have been holding up though and they've gone for more than I would have expected even in a buoyant market.

Compared to Fife area Perth is pricey, as are quite a number of the surrounding villages. I do think though that the quality of life is immeasurably better and you have great access to so many parts of the country.

Good luck!

jenniferfluff29

Thanks Grizzly.

I was hoping that you wouldn't say that. I am now starting to think that although I have taken a hit on my house, I will be unable to get a reduced price on a house in a nice area in Perth. So much for the huge savings that can be had. It seems to be isolated - definately.

Thanks for your advice.

Fluff

jenniferfluff29

Just to give people an idea of the house in Perth, here is a house that I looked at today. Big rooms but needs modernising. Requires New front/rear doors, kitchen, 1 x bathroom, 1x ensuite & 1 x cloaks, redecorate throughout and probably new boiler is short period of time.

The EA expects to get over £160k as it has apparently valued at this.

Obviously certain areas of Scotland are not being hit and I expect the majority of people on here are giving examples of houses in England.

Any thoughts. Thanks

http://www.pspc.co.uk/schedules/44334.pdf

Prudent

Can you commute a bit? Prices in Clackmannanshire are falling a fair bit and there good buys.

beingjdc

Yeah, I think the oil boom is holding up prices in the East of Scotland. This place has been on the market a few months, started out at £249k, then offers over £220k, now fixed price £220k and not sold yet. So there are some falls in asking price, but of course that doesn't necessarily mean paid prices are lower than they were.

http://www.rightmove.co.uk/viewdetails-17403172.rsp?pa_n=3&tr_t=buy&mam_disp=true

jenniferfluff29

Prudent - Clackmannanshire is too far to commute.

Beingjdc - how do you know that the house you mentioned has had price drops? I have just installed property bee but it only shows the current prices that I look at now. Would price drops show in the future when I go back at look at them or am I doing something wrong and not fully using it?
Finding out any price drops for the perth area would be excellent.

Thanks

beingjdc

jenniferfluff29 wrote: »

I have just installed property bee but it only shows the current prices that I look at now. Would price drops show in the future when I go back at look at them or am I doing something wrong and not fully using it?

Maybe. Try going to 'options' and ticking "Work in a bee". That might be it.

smitchy73

Although the prices are holding, if people need to sell, putting in an offer won't hurt, the worst they can say is no, at the end of the day, it's all very well saying the price holds, but if no-one is buying it, it's not any good for the seller, also as I heard on the radio today, people are still thinking of the highs of last year etc, where they could get the asking price plus a premium of 10-20% this isn't realistic any more, same thing has to be remembered when selling, we decided to get an extension built rather than move due to the fragile nature of the market, and also for what we could get for our money.
Good luck