2004...My Ar*e....Make Your Predictions...

beecher

jackieb wrote: »

House prices in Scotland grew 0.1% in Q4 2008. http://www.nationwide.co.uk/hpi/historical/Q4_2008.pdf

Does it make a difference if house prices were lower and slower to rise than other parts of the country? House prices here only dramatically grew in the past 3 years or so. When I bought a house in 1995 it was valued at £34k. When I remorgaged in 2004 it was still only valued at £45k (and that was after adding double glazing in 1996 and a loft conversion in 2000). As i've said before, we sold it in June last year for £105k.

Where do you live? That sounds quite unusual. I bought at £35,000 in 1996 at £35k and sold in 2003 for £73,000. Maybe you got a unrealistically low valuation at remortgage time?

I think you sold at a good time as I'd expect that £105k won't be reached again for many many years.

jackieb

I'm in Aberdeenshire. I think the valuation must have been pretty accurate going by what similar houses were selling for at the time.

beecher

jackieb wrote: »

I'm in Aberdeenshire. I think the valuation must have been pretty accurate going by what similar houses were selling for at the time.

That's odd, but does explain the lag which Aberdeenshire is now experiencing. Looking at Mitchaa's figures from Q1 2007, Glasgow average prices were £24,000 higher than Aberdeenshire and now are only £5,000 higher. Our mad spell must've happened a few years earlier than Aberdeenshire's.

dopester

The news that we are factually at 2004 prices levels, first revealed by Halifax, and today by Nationwide, has really rattled you in recent days I fear, mitchaa.

I think perhaps your reluctance to accept this fact is more to do with your faith in many ludicrous asking prices from sellers who have their minds trapped in the old-world.

I was only half teasing, but lets hope my prediction doesn't really come to pass.

dopester wrote: »

Sorry mitchaa. When I think of your outlook to property values, I fear for the consequence of your mind-health in 2009, 2010/11.

2010.. I picture you running down a high street in your PJs, with an Edvard Munch "Scream" expression, pulling out your hair in clumps... as the truth dawns on you just how over-valued your property is and how deep in negative equity you are - and how other places are struggling to sell at -70% of what you thought your place was worth.

mitchaa

Nationwide Dec 2008 £153,048
Nationwide Q1 2005 £152,790

Depends on what snippets of info you use, but prices now are higher than what they were in Q1 2005.

True or false?? No ifs, no buts...True or false??

Shall i keep going with this for another 5 pages worth of drivel

neverdespairgirl

Is anyone else reluctant to make the invited prediction about Mitchaa's ar5e?

mitchaa

beecher wrote: »

That's odd, but does explain the lag which Aberdeenshire is now experiencing. Looking at Mitchaa's figures from Q1 2007, Glasgow average prices were £24,000 higher than Aberdeenshire and now are only £5,000 higher. Our mad spell must've happened a few years earlier than Aberdeenshire's.

Lag between Aberdeen and Glasgow:rotfl:

Thought it was Scottish lag from England:rolleyes:

Come on at least talk some sense.

mitchaa

neverdespairgirl wrote: »

Is anyone else reluctant to make the invited prediction about Mitchaa's ar5e?

My ar*e is fine looking at my signature below:D

I cause such a stir, loving it, i think i have wound up about 20-30 of you now, keep coming as you're not proving this cookie wrong, we can talk stats all day long

dopester

mitchaa wrote: »

Average house price of less than £77k, i'll have 3 or 4 then:p

Might buy them altogether, join them up and have a 15 bed mansion for under £300k:rotfl:

You only bought your own house in 2007. Got loads more money have you to buy property? Don't assume credit will be easy to get at pre 2000 levels. £77K will be a lot of money.

mitchaa wrote: »

What about our attitude towards housing and the greed culture that we now live in? BTL investments and property development have increased 10 fold over the last 15yrs or so. There are people itching to buy, we are in a culture where owning our homes is seen as a must. As soon as the bottom has been realised, what do you think will happen?

Be as greedy as you like, providing you have your own money. Don't assume banks are going to see "good-value" and dish out money to any asker. You'll need to be a very good risk for them to lend to you.

"Itching to buy" needs money / the ability to borrow money - even at the bottom mitchaa. Please grasp that simple fact.

beecher

mitchaa wrote: »

Lag between Aberdeen and Glasgow:rotfl:

Thought it was Scottish lag from England:rolleyes:

Come on at least talk some sense.

Well it is clear from the figures that Aberdeenshire peaked after Glasgow - have no idea what's so funny about that. How else do you explain them being £24,000 higher in Glasgow in 07 and only £5,000 higher now?

You are a wind up merchant, but I wonder what you get out of it?