Aberdeen/shire house prices

IveSeenTheLight

donaldtramp wrote: »

So I fully expect Aberdeen and the surrounding areas to start emptying of people.

It would seem that many developers / investors think differently

http://www.pressandjournal.co.uk/Article.aspx/1018136

The Trump factor is attracting developers to Aberdeenshire in their droves, with plans lodged for almost 5,000 houses, a business park and retail centre, it has emerged.
Balmedie, Belhelvie and Ellon are among places where builders are clamouring to erect properties.
They are among proposals for tens of thousands of new homes in Aberdeenshire.
More than 700 proposals for development in the north-east have been submitted, ranging from an entire new village of nearly 3,000 properties to single houses.

Developers hope their plans will help decide the sites allocated for growth in Aberdeenshire Council's local development plan.
The new village has been proposed for Clinterty, near Blackburn, by Bancon Development. The 400-acre settlement would be on land used by the Scottish Agricultural College as well as an authorised campsite for travellers.

A £700million scheme for 3,000 homes and a business park at Banchory-Devenick is also listed. But Elsick, near Newtonhill, faces the biggest increase with 6,000 homes, four primary schools and an academy put forward by Elsick Development Co Ltd.

The Garioch received the largest number of proposals for any area.
Dramatic changes planned for Inverurie include extending the town-centre northwards and expanding the Thainstone Business Centre.

A 700-home Bancon development at Keithhall near Inverurie, which includes a golf course and a primary school, will also be considered.

The wish-list includes 900 homes at Balmedie on the doorstep of Donald Trump's planned new golf resort.
A local couple, who own the land at Keir Farm to the west of the A90, have submitted the plan which could include a primary school
Major development could be in store for nearby Ellon, including plans by Scotia Homes for 2,200 homes at Cromleybank and 800 at Esslemont with a further 400 properties near Belhelvie.

Other proposals for the surrounding area include a plan by Stewart Milne to build housing, a business park and retail centre at a site it has named Potterton West.

This doesn't even appear to mention the reports from yesterday

Plans for hundreds of homes at beauty spot
or
Plans for 96 homes in village

IveSeenTheLight

donaldtramp wrote: »

I really, really believe that long term(bearing in mind an average mortgage is 25 years) Aberdeen is going to be a DREADFUL place in which to own a house.

donaldtramp wrote: »

I'll probably stay here as come 10-15 years from now I'll probably be able to buy a fantastic house(for buttons) when all around me people are fleeing elsewhere.....

Hmmmmm, this make me wonder about you.
Are you for real or a Troll?

In the same post you say you believe that Aberdeen will be a DREADFUL place to own a house and a couple of paragraphs later say you'll probably stay here as you'll be able to buy a fantastic house

poppy10_2

£7million mortgage fraud ring busted in Aberdeen

dolally_2

Aberdeenshire is a lovely place to live and there is so much more than just oil. In fact a very small minority of my friends work in oil or anything reliant on the oil industry. In my area houses are still selling for good prices but not as quickly as they were last year.

One thing that we don't suffer from up here is excess - and that means excess greed of "I want, I want, I want..." or excess doom and gloom of "it's a recession..we are all doomed!!!" Most people seem to be quietly going about their usual business whithout much change and certainly no panic.

I expect that the recession will move northwards in its own good time and house prices will come down eventually (no bad thing in my opinion) and meanwhile it is business as usual

donaldtramp

Hmmmmm, this make me wonder about you.
Are you for real or a Troll?

I'm for real. I've been a member of MSE for years.

In the same post you say you believe that Aberdeen will be a DREADFUL place to own a house and a couple of paragraphs later say you'll probably stay here as you'll be able to buy a fantastic house

Now think about it...

I think it will be a dreadful place if you see your house as an investment. House prices will tank in Aberdeen over the next 10 years.
I'll be able to buy a fantastic house because they will have lost so much value.
Is that simple enough for you;)?

All that house building you mentioned(if they ever go ahead) will just add to the coming massive over supply in the area when the oil dries up. The housebuilders just want a quick hit. They'll take the cash and move on. They don't have to take out a 25 year mortgage. The punters will bear the brunt when the wells run dry.


Oh and more job news....

http://www.pressandjournal.co.uk/Article.aspx/1022527

Baker Hughes INTEQ expected to axe up to 95 posts today

Another oil service firm may cut jobs

By Ian Forsyth
Published: 12/01/2009
International oil service company Baker Hughes INTEQ is expected to make an announcement today on possible job losses.
It was claimed yesterday that 95 posts could go out of the 341 UK-based payroll – nearly all of whom are based in the Aberdeen area.
A Sunday newspaper said staff were understood to have been given the bad news at a meeting at the Portlethen offices of the company.
No one at Baker Hughes INTEQ could be contacted for comment yesterday.
It emerged last week that the world's largest oilfield service provider, Schlumberger, might cut employee numbers in the north-east.
A British spokeswoman for the company said that, in the current challenging economic climate, it was looking at the most effective ways of managing its resources in the UK and throughout its operations worldwide.
She added, however, that it was too early to say if jobs would go in the Aberdeen area, where it employs more than 2,000 people.
Schlumberger is to shed 5% of its North American workforce, or 1,000 jobs, and is looking at reductions elsewhere. It has more than 84,000 workers in about 80 countries, with around 4,000 of them in the UK.
Despite the worldwide economic slowdown and a dramatic drop in energy prices since the middle of 2008, few job losses have been announced to date by firms in the oil and gas business.
Last Wednesday, Ernst and Young (E&Y) was appointed as administrator for oil and gas company Oilexco North Sea (ONS). The news leaves a questionmark over the future of about 100 staff in Aberdeen and offshore.
However, E&Y said it intended to continue with existing operations, with a view to finding a buyer.
Colin Dempster, one of the joint administrators, has already been approached by several interested parties with a view to purchasing the whole or part of the company’s business and assets.
Rivals BG Group, Talisman Energy, Petro-Canada and Maersk Oil have all been linked in the media with possible bids.
Canadian parent Oilexco – which is not subject to the administration – had announced on Hogmanay that its subsidiary intended to file petitions for administration “as soon as reasonably practicable”.
The group said it had run out of options for ONS after bankers refused to provide further funding.

donaldtramp

More North sea news...

UK sector drilling set to slow
http://energy.pressandjournal.co.uk/Article.aspx/1030823/?UserKey=

Another 140 jobs to go because of Talisman

http://energy.pressandjournal.co.uk/Article.aspx/1029977/

Still think we're immune?

IveSeenTheLight

donaldtramp wrote: »

Still think we're immune?

Who's ever said Aberdeen would be immune?

My personal stance has always been that I believe Aberdeen would be less affected than other areas such as the South East and London.
I've backed this up with facts and figures on affordability.

Now please show the posts where people said Aberdeen was immune.
I won't hold my breath

P.S. Have a look on http://www.oilcareers.com where you will see there are still huge numbers of advertised jobs

mitchaa

donaldtramp wrote: »

More North sea news...

UK sector drilling set to slow
http://energy.pressandjournal.co.uk/Article.aspx/1030823/?UserKey=

Another 140 jobs to go because of Talisman

http://energy.pressandjournal.co.uk/Article.aspx/1029977/

Still think we're immune?

Nowhere is immune, everyone in the country falls under the same credit crunch. Aberdonians dont get access to 100%/125% mortgages to keep its housing market strong.

So far it is coping fairly well, that is all.

I suspect it will fall around 15%

Some companies are pulling work and i've actually heard recent talk from a few offshore workers of uncertainty with some drilling companies but as ISTL posts above, oilcareers.com is still advertising thousands of jobs.

donaldtramp

Who's ever said Aberdeen would be immune?

That was the general impression I got in Aberdeen until recently. If the Oil price keeps going down(or stays low) Aberdeen house prices will drop like a stone. $37 a barrel is appalling. Nobody(operators, service companies) will spend any money in the current conditions .

OPEC's Drastic Measures Fail to Counter Oil-Price Free Fall
http://online.wsj.com/article/SB123197568768883447.html?mod=googlenews_wsj

My personal stance has always been that I believe Aberdeen would be less affected than other areas such as the South East and London.
I've backed this up with facts and figures on affordability.

My personal stance is that medium to long term Aberdeen is going to be an absolute nightmare for property owners/businesses/employment levels.

I've backed this up with facts and figures about the medium to long term future of the Oil industry, next 10 to 15 years+.

And you are right, medium to long term, houses are going to become VERY affordable in Aberdeen. I don't think you'll be able to give them away in 10 to 15 years.:p

mitchaa

donaldtramp wrote: »

That was the general impression I got in Aberdeen until recently. If the Oil price keeps going down(or stays low) Aberdeen house prices will drop like a stone. $37 a barrel is appalling. Nobody(operators, service companies) will spend any money in the current conditions .

OPEC's Drastic Measures Fail to Counter Oil-Price Free Fall
http://online.wsj.com/article/SB123197568768883447.html?mod=googlenews_wsj

My personal stance is that medium to long term Aberdeen is going to be an absolute nightmare for property owners/businesses/employment levels.

I've backed this up with facts and figures about the medium to long term future of the Oil industry, next 10 to 15 years+.

And you are right, medium to long term, houses are going to become VERY affordable in Aberdeen. I don't think you'll be able to give them away in 10 to 15 years.:p

Not a very smart post on your account DT, you've given yourself upto being a troll now with the above response.

I doubt you are living in Scotland, never mind Aberdeen, your knowledge on the subject is dire

Reports are 6 months old...

http://news.bbc.co.uk/1/hi/scotland/7435016.stm

http://www.snp.org/node/13905

http://www.dailymail.co.uk/news/article-1024205/North-Sea-oil-half-century.html

Have a read of that and tell me again why Aberdeen and its oil industry will be finished in 10yrs:rolleyes:

Read it and weep my friend, with further advances in technology, deeper drilling fields to be explored, we will not be running out of oil in our life times

Ive not put anyone on my ignore list, but you are getting very close:p

ISTL was correct before, you are a troll at the windup:D