Congratulations to Edinburgh, + 6% YoY....

bernard_shaw

HAMISH_MCTAVISH wrote: »

Still, at least some of the hpc scottish section uber-bears have managed to keep their sense of humour about the whole thing.


:rotfl:

OOh! Someone's hacked that "Downfall" clip. That's very clever. I've never seen that before.
:T:T:T:T:T

bernard_shaw

HAMISH_MCTAVISH wrote: »

:T:T:T:T

Congratulations to Edinburgh, + 6% YoY....

The first area to show year on year positives?

But it won't be the last.....;)

Only it isn't 6%. The preview ESPC report issued to the Scotsman journalist was a draft only and contained several critical errors.

The actual ESPC report shows only a modest 2.2% YoY increase. Money in the bank still significantly outperforms Edinburgh property.

HAMISH_MCTAVISH

bernard_shaw wrote: »

Only it isn't 6%. The preview ESPC report issued to the Scotsman journalist was a draft only and contained several critical errors.

The actual ESPC report shows only a modest 2.2% YoY increase. Money in the bank still significantly outperforms Edinburgh property.

Well, thats McGlashans suppository supposition anyway, nice of you to slavishly parrot it elsewhere for him.

But not when you add in the rent costs in the meantime it doesn't....:T

Last time I checked, your bank didn't charge you 12K a year to keep your money there.:rotfl:

geneer

HAMISH_MCTAVISH wrote: »

:T:T:T:T

The first area to show year on year positives?


EDINBURGH is leading the housing market recovery as the first area in the UK to experience a year-on-year house price rise.

The Edinburgh Solicitors' Property Centre (ESPC) market report for August, due shortly, is expected to show homes in the capital sold, on average, for more than £212,000, a rise of 6 per cent on last August's figure of £200,000.

ESPC spokesman Neil Harrison said: "This is a major breakthrough for our market, to begin showing year-on-year increases again."


But it won't be the last.....;)

ESPC OCT 2010 Average house price in Edinburgh in October stood at £213,718 following an annual fall of 3.7%. The drop marked the first annual decrease in Edinburgh since January.


I wonder if Edinburgh maintains its leadership role.

JonnyBravo

Oh dear "geneer".
One could assume you are a regular who doesn't want Hamish to know he's got to him so have decided to use a different name.
Do you think you might need to take a deep breath and move away for the forum until you find some perspective?

torontoboy45

JonnyBravo wrote: »

Oh dear "geneer".
One could assume you are a regular who doesn't want Hamish to know he's got to him so have decided to use a different name.
Do you think you might need to take a deep breath and move away for the forum until you find some perspective?

looks that way to me, jonny. so why hide behind a new u/name? something to be embarrassed about?

geneer

JonnyBravo wrote: »

Oh dear "geneer".
One could assume you are a regular who doesn't want Hamish to know he's got to him so have decided to use a different name.
Do you think you might need to take a deep breath and move away for the forum until you find some perspective?

Actually I'm a non regular here and a regular on a housing forum that Hamish only rarely visits to gloat and crow.

He now seems to be "missing" crucial developments in the discussions he was previously so interested in, so I did my Civic duty, and have popped in to enlighten him.:T

(BTW, why would anyone create a sock puppet in order to utterly deconstruct bulls**t arguments )

geneer

From the ESPC:-
http://www.espc.com/...ember-2010.html

ESPC Nov 2010:

•The average house price in Edinburgh during November 2010 was £215,173 – an annual fall of 4.6%.
•The average house price in Edinburgh during November 2010 was also £20,630 below the meaningless transitory statistical peak witnessed in July.
•The number of properties available for sale is still around 50% above normal levels.
•There is evidence that buyers are having more success in negotiations with a higher percentage of sellers accepting offers below their asking price.
•House prices are likely to ease in early 2011 with the average house price returning to levels seen at the start of 2010 – between £195,000 and £200,000.


David Marshall, business analyst with ESPC explained: "During the first half of the year we saw the average house price in Edinburgh rising but the increases in the average were largely due to a comparatively high number of larger properties selling. There are currently around 1,000 more properties on the market than you would typically see at this time of year and the number of active buyers is still some way below what would be considered normal. The reality is that it’s still a difficult market for sellers. We’re seeing evidence that buyers are now having greater success in negotiations, with lower premiums being paid on Offers Over sales, and more sellers of Fixed Price properties accepting bids below the asking price."

David also explained "Julys figures were clearly a blip, as noted by market experts at the time. Whilst the statistical skew had a profound impact on our blunt averages, anyone endevouring to sell this as any kind of stunning market recovery no doubt ended up with significant amounts of egg in their face."

The average premium paid on properties sold at Offers Over during November stood at 5% compared to almost 8% during the same month last year. Meanwhile only 29% of properties sold at Fixed Price achieved the asking price – down from almost 50% in earlier in the year and the lowest level since June 2009.

David Marshall continued: "Continued low interest rates mean that generally sellers are not feeling under pressure to accept low offers to secure a quick sale but the balance of power is clearly in favour of buyers now. This should mean that early next year we’ll see prices in Edinburgh come back down to levels seen at the start of 2010, when the average house price stood at between £195,000 and £200,000, before prices level off during the second half of the year. Essentially, anyone labouring to hype the edinburgh market during the course of the last year have wasted a year of their !!!!ing time"

I may have added a couple of lines myself. :rotfl::rotfl::rotfl:

Its funny how the experts who complied the stats don't consider -£20K falls "seasonal variations" but I'm sure our aberdoomian pal is quite right. :T

N1AK

HAMISH_MCTAVISH wrote: »

The first area to show year on year positives?

But it won't be the last.....;)

Can't you find, or form, a forum where you and the other two people who care about Edinburgh prices can share your attempts at arousing house price inflation fan fiction.

1984ReturnsForReal_2

N1AK wrote: »

Can't you find, or form, a forum where you and the other two people who care about Edinburgh prices can share your attempts at arousing house price inflation fan fiction.

Why are you quoting someone from 15 months ago?

I get the point but at least drag a new one out.