Shock as Edinburgh house prices fall 12%

Generali

Even Hamish sleeps

Graham_Devon

Aberdeen seems to be a case of it's own.

However, when looking at the page below, it all seems to be pretty static.

http://www.home.co.uk/guides/asking_prices_report.htm?location=aberdeen&lastyear=1

Average ASKING prices Oct 2007 - Nov 2009


I'm sure there will be something wrong with this graph though.....somewhere!

IveSeenTheLight

Generali wrote: »

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.

I do not keep a close eye on edinburgh's figures, but from Aberdeen's you can see that prices have risen 13% in the last three months.
You can also see that partially, this could be attributed to the drop we also saw prior to that.
This means that Aberdeen is YoY at 2.3%




As for questioning the numbers, I understand that monthly data can be noise, but the actual transactions have almost doubled in Scotland (they did double in Aberdeen from Jan - Sep results) from the start of the year (Still lower than historically but still significant enough)
http://www.ros.gov.uk/pdfs/volume_sales_by_month.pdf

IveSeenTheLight

Graham_Devon wrote: »

Aberdeen seems to be a case of it's own.

However, when looking at the page below, it all seems to be pretty static.

http://www.home.co.uk/guides/asking_prices_report.htm?location=aberdeen&lastyear=1

Average ASKING prices Oct 2007 - Nov 2009

I'm sure there will be something wrong with this graph though.....somewhere!

Yes there is Graham.
It's ASKING prices and is from home.co.uk.

The graph I posted above is actual sales data from the RoSEA, a much better reflection

Your conclusion that it is pretty static is still correct though.
It would seem that Aberdeen and Scotland have been pretty stagnant for the last two years

Generali

IveSeenTheLight wrote: »

I do not keep a close eye on edinburgh's figures, but from Aberdeen's you can see that prices have risen 13% in the last three months.
You can also see that partially, this could be attributed to the drop we also saw prior to that.
This means that Aberdeen is YoY at 2.3%




As for questioning the numbers, I understand that monthly data can be noise, but the actual transactions have almost doubled in Scotland (they did double in Aberdeen from Jan - Sep results) from the start of the year (Still lower than historically but still significant enough)
http://www.ros.gov.uk/pdfs/volume_sales_by_month.pdf

Prices seem very volatile in Aberdeen. Perhaps the OP's article is correct.

Is Aberdeen quite small (I've never been there) if it is it would explain the volatility.

ruggedtoast

Aberdeen is stumbling, stuttering, and ready to fall. Honestly its been a terrible day for Hamish - several threads at once reporting things falling that are only meant to go up, his thread calling for the banning of several users widely derided.

And I'll bet just to add insult to injury rewired thanks this post.

No wonder McTavish is nowhere to be seen.

IveSeenTheLight

Generali wrote: »

Prices seem very volatile in Aberdeen. Perhaps the OP's article is correct.

Is Aberdeen quite small (I've never been there) if it is it would explain the volatility.

I don't believe that Aberdeen House Prices are volatile although I can appreciate how they appear like that on the graph.

Reason is, because as you understand, that Aberdeen has an estimated population of about 209,260.
At the last census in 2001, it was recorded as 212,125.
http://www.aberdeencity.gov.uk/nmsruntime/saveasdialog.asp?lID=17218&sID=3365

Within Aberdeen you have such a varied range of house prices, ranging from under £50k to over £1million.

Here is how the RoSEA calculate the house prices
http://www.ros.gov.uk/pdfs/rsdguidancenotes.pdf

IveSeenTheLight

ruggedtoast wrote: »

Aberdeen is stumbling, stuttering, and ready to fall. Honestly its been a terrible day for Hamish - several threads at once reporting things falling that are only meant to go up, his thread calling for the banning of several users widely derided.

And I'll bet just to add insult to injury rewired thanks this post.

No wonder McTavish is nowhere to be seen.

Ok, whatever :rolleyes:

It seems a lot of people on here love rewired.
It's clear that you love Hamish by your openly chasing him round like a love sick hound.
If it was a playground, I bet you'd be pulling his ginger locks

mitchaa

Lloyds TSB price monitor?

Probably best correlating that to the RoSEA figures to see if there's any substance to the claims.

Aberdeen is a small city, 200k people or so.

ruggedtoast

IveSeenTheLight wrote: »

Ok, whatever :rolleyes:

It seems a lot of people on here love rewired.
It's clear that you love Hamish by your openly chasing him round like a love sick hound.
If it was a playground, I bet you'd be pulling his ginger locks

Maybe I have been too hard on him. I did not realise he was a ginger.

Nevertheless if thats the case I'd still have to steal his penguin and then throw his bag up so it gets caught on the fence.