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Scottish house prices will take years to return to peak
Prudent
Posts: 11,711 Forumite
http://business.scotsman.com/personal-finance/Scottish-house-prices-predicted-to.5987758.jp
House prices still seem very depressed where I live with a very low volume of sales.
House prices still seem very depressed where I live with a very low volume of sales.
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The article is based on Capital Economics outlook for Scottish prices.
Delusionally, it then goes on to say........The researchers at Capital Economics are notoriously bearish about the housing market, but usually right
:rotfl:
Capital Economics have the worst forecasting history in UK house price history, having called it wrong every year since 2001.
The reality is that prices are stagnating in Glasgow, rising strongly in Edinburgh, back to peak already in Aberdeen (well, within 1% now), and rising in Dundee and Perth and Inverness.
Very poor piece of Churnalism there..... Pays no attention to the facts at all.
Which area are you in for them to seem depressed?“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
I am from clackmannanshire.0
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AS usual the UK economy barometer Aberdeen is saved by the super hero:beer:0
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HAMISH_MCTAVISH wrote: »The article is based on Capital Economics outlook for Scottish prices.
Delusionally, it then goes on to say........
Capital Economics have the worst forecasting history in UK house price history, having called it wrong every year since 2001.
Hamish, you are forgetting your own thread, http://forums.moneysavingexpert.com/showthread.html?p=27753905
"Mr Bootle, one of the most respect economic forecasters"...
And you are forgetting that you were called on it before;CloudCuckooLand wrote: »http://www.capitaleconomics.com/rogerbootle/index.php
"Roger Bootle is one of the City of London’s best known economists, having worked in or around the financial markets since 1978. As well as being Managing Director of Capital Economics, he is also Economic Adviser to Deloitte..."
Suddenly with his Deloitte hat on, the guy is a genius...?
What's the opposite of 1% for 5 years...?
:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:
Make your mind up. Either CE/RB are crap, or you are full of it. I think I know the answer.
Poor confused little boy.
:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::beer::beer::beer::rotfl::rotfl::beer:;)Hi, we've noticed that you don't have a signature to remove. If you're not sure why please read the forum rules or email the forum team if you are feeling left out.0 -
Capital Economics are even worse than the muppets on HPC.co.uk and the ones on here at trying to predict anything.Cannon_Fodder wrote: »Either CE/RB are crap, or you are full of it.
no i don't think you do have any answers, it's just another attack on Hamish :rolleyes:Cannon_Fodder wrote: »I think I know the answer.0 -
Cannon_Fodder wrote: »some utter tripe
I don't know what Bootles record is with predicting interest rates.
I do know his record in predicting house prices is proven to be as bad as you can get.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
No i don't think you do have any answers, it's just another attack on Hamish :rolleyes:
It's all they have left.
Every one of their bearish memes has been destroyed by reality. The repetitive attacks only prove their desperation.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Cannon_Fodder wrote: »
Make your mind up. Either CE/RB are crap, or you are full of it. I think I know the answer.
You may think you know the answer but looking at the title "Scottish House Prices will take years to return to eak", it would seem they are already grossly out in their prediction.
See the graph below compiled from the Registers of Scotland Executive Agency, it shows that Scottish House Prices are already very near peak
:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
Guys,
Still looking at "average" figures I see. Averages mean nothing. All it takes in Edinburgh is for JK Rowling to move house and the average that quarter shoots up.
* A train is 10 minutes early then 10 minutes late, 10 minutes early then 10 minutes late again. So on average it's on time so everything is hunky dory? Maybe not.0 -
wellieboot wrote: »Guys,
Still looking at "average" figures I see. Averages mean nothing. All it takes in Edinburgh is for JK Rowling to move house and the average that quarter shoots up.
* A train is 10 minutes early then 10 minutes late, 10 minutes early then 10 minutes late again. So on average it's on time so everything is hunky dory? Maybe not.
:rotfl:
Nice idea.....
Couple of points though.....
The RoS exclude any house above a million from the calculations, so JK Rowling and Fred the Shred can move house as often as they want. It won't skew the numbers.
Volume is rising, significantly. Now at 65% to 70% of peak in Aberdeen. Certainly high enough to be a statistically significant sample size.
In all these Scottish markets approaching peak, there will certainly be some houses, or local areas, still a bit further behind. But by the nature of averages, there will also be some areas and houses at or above previous peak prices. Either way, it is indisputable that in many markets in Scotland, actual sold prices are firmly at 2007 levels. Not just based on indices, but on individual sales results searchable on Zoopla, etc.
Not at all what anyone was expecting just a year ago.....“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0
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