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House prices drop in Scotland in real terms
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I think ISTL is correct there isn't a great deal of movement either way, makes the next 6 months even more interesting
If it's anything to go by on the last two years then there's not a lot to talk about :wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
IveSeenTheLight wrote: »So in real terms, would the average property be more expensive to buy now than a year ago?
The answer is yes as they would actually have to pay 1.3% more or 2.0% more in Aberdeen than they did last year.
In actual monetary terms, this means an extra £2,000 - £3,600
If you look on a wider scal, prices are pretty stagnant at very near peak.
no crash and no rampant HPI.
Actually The answer is an emphatic "No".
In real terms prices have dropped because thanks to inflation the pound in your pocket is worth 3% less than last year.
You are confusing real and nominal.0 -
lemonjelly wrote: »Generally, he won't reply where he is in the wrong.
I already replied to the OP in another thread, yesterday.
I saw no particular reason to respond in this thread, which is just blatant trolling by daddybear, yet again.
To cut a long story short, my sig is correct. Daddybears assertion of Qaurterly YoY is also correct. His assertion of real terms losses excludes rent, and is incorrect.
However none of this makes the slightest bit of difference, as the reality is that Aberdeen prices are still at 2007 levels. In fact, they never left 2007 levels, all the way through the "crash". They did dip back to Jan 2007 levels for two months last year, but have been healthily above that point ever since, including today.
ISTL has a handy graph illustrating this point, and if he could post it here that would probably paint a nice easy picture for even the simplest of bears to understand.“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 -
Er Hamish, it's Feb 2010? Get with the times mate.HAMISH_MCTAVISH wrote: »However none of this makes the slightest bit of difference, as the reality is that Aberdeen prices are still at 2007 levels.0 -
So threads based on facts and related to house prices are now deemed by you as trolling. I guess your definition of trolling is any post that disproves your fantasy.HAMISH_MCTAVISH wrote: »just blatant trolling by daddybear.
House prices relative to inflation, how on earth does rent come into this?HAMISH_MCTAVISH wrote: »His assertion of real terms losses excludes rent, and is incorrect.HAMISH_MCTAVISH wrote: »paint a nice easy picture for even the simplest of bears to understand.
Ahh, no Hamish thread is complete without an insult. Lick those wounds my friend.0 -
I guess your definition of trolling is any post that disproves your fantasy.
.
What, like this one.......
According to the Register of Scotland......
January 2009 Aberdeen average house price = £160,959
December 2009 Aberdeen average house price = £172,603
That's a 7.2% increase for the year....
Now adjust that for inflation and choke on it, you bitter little troll....:rotfl:“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 -
HAMISH_MCTAVISH wrote: »According to the Register of Scotland......
January 2009 Aberdeen average house price = £160,959
December 2009 Aberdeen average house price = £172,603
That's a 7.2% increase for the year....
Well, I choose not to adjust it for inflation, but if Aberdeen is anything like my corner of Scotland, the sales at £300k and above could have increased in number by a factor of 2 or 2.5, with no real increase in prices, and that would drag up an 'average' computed over the whole price range......
Go to zoopla, copy/paste all the sales into a spreadsheet, and see what's happening in the various price bands..... if you have the time.0 -
Even without the manual calcs, zoopla reports the average price paid in the last year is £169,301, over 3,842 sales.
For the last 3 years, the average is £171,771, over 14,200 sales.
That would seem to show that - the number of sales in the last year was below average, which will make the figures less reliable, and - if the average over the last 3 years is higher than the average in the last year, isn't that a FALL in average price....??0 -
Actually The answer is an emphatic "No".
In real terms prices have dropped because thanks to inflation the pound in your pocket is worth 3% less than last year.
You are confusing real and nominal.
Reality is, that regardless of what the pound is worth, I still would have to pay more pounds to buy a property now than I would have had to last year.
You've decided to compare the rise in house prices against the rise in inflation.
Does this mean that you think house prices should rise more to meet inflation?
What about comparing house price inflation to wage inflation. How does that compare?:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0
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