Shock as Edinburgh house prices fall 12%

mortgage_adviser_2

http://news.scotsman.com/edinburgh/Shock-as-city-house-prices.5826906.jp
HOUSE prices in Edinburgh have fallen by nearly 12 per cent in the last three months, it was revealed today.
The Capital's poor performance came as a surprise and goes against the trend of a modest house price recovery in the rest of Scotland, which has seen the average cost of home rise by 0.7 per cent in the last quarter.

Hamish where are you :rotfl::rotfl::rotfl:

digipeep

Hamish isn't worried as prices are booming in Aberdeen.

crusty_toenail

haha love it!
Its that old supply/demand argument that has caused it - right Hamish, too much supply now - people putting their homes on the market before New Years Eve festivities!

Generali

I realise they're a long way apart but it seems unlikely that house prices would be down 12% in Edinburgh and up 13% in Aberdeen unless there's a lot of Scots heading north to avoid the impact of Global Warming.

I question the numbers.

boomerangs

I thought Hamish told us all that house prices only ever go up up up

ruggedtoast

Linked on the same page:

http://news.scotsman.com/mortgageandpropertynews/Highlanders-in-desperate-need-of.5780092.jp

ABOUT 8,000 new houses need to be built in the Highlands over the next five years to tackle a "chronic and persistent" lack of affordable accommodation.

A study carried out for the Highland area shows that due to high house prices and low incomes less than a third of people in the area seeking to buy a home can afford to do so.

If this spreads to the rest of his country then he may have to swallow the awful spectacle of average Scots being able to afford homes.

And if theres one thing that will stick in Hamish's craw this Christmas it'll be that.

Have a drink on me Hamey! :beer:

phil_b_2

Hardly surprising, Edinburgh prices are astronimical. Surely the typical job in Edinburgh is likely to be bar work/restaurant work/tourism work/hotel work etc, which would put even small flats out of reach of the majority.

How Edinburgh prices ever got so crazy is truly beyond me. I can appeciate how London prices got there though.

bmunky7

phil_b wrote: »

Hardly surprising, Edinburgh prices are astronimical. Surely the typical job in Edinburgh is likely to be bar work/restaurant work/tourism work/hotel work etc, which would put even small flats out of reach of the majority.

How Edinburgh prices ever got so crazy is truly beyond me. I can appeciate how London prices got there though.

Couldn't agree more, the bubble has burst.

ruggedtoast

I might be way off beam here but Scotland appears to me to about the same size as England, yet only have about 5 million people.

I would imagine that ultimately - this wouldnt bode well for the hallowed "shortage of supply" Hamish is always on about. Unless he's talking about common sense of course...

neas

Has hamish dissaappered? Or is it he wont comment on threads that state the opposite view that he states? oO

damanpunk

And from the same report:

Aberdeen saw the biggest rise, with prices going up 13.4 per cent in the last quarter, and the north of Scotland as a whole experiencing a positive trend.

:money::rotfl:

Not that I like high prices mind, I'd settle for a smidgen of NE and a cheaper house in future.