RICS: Prices Rising or Stable in 75% of country

HAMISH_MCTAVISH

googler wrote: »

To which 'prices' do you refer?

The 'average' of all house prices in the city, or

Specific instances where a house has sold in 2010 for more than it did in June 2007?

Are you somehow doubting that prices today are above what they were in late 2006 and most of 2007?

Ohhhhh, I see, you're just mindlessly parroting that tired old bear meme about the average being skewed by only higher priced property selling and low volumes.

Plenty of specific examples of individual properties selling for more.....

162, Forest Avenue, Aberdeen, AB15 4UN
-Dec-2009 £280,000
Dec-2006 £255,500

98, Union Grove, Aberdeen, AB10 6SA
Jun-2010 £130,000
Apr-2007 £91,500

305, Union Grove, Aberdeen, AB10 6TD
May-2010 £121,121
Oct-2007 £115,000

57, Chapel Street, Aberdeen, AB10 1SS
Jun-2010 £170,000
Mar-2007 £156,777

58e, Chapel Street, Aberdeen, AB10 1SN
Jun-2010 £145,000
Aug-2006 £110,000

398, King Street, Aberdeen, AB24 3BY
Jun-2010 £125,000
Dec-2007 £124,000

394, King Street, Aberdeen, AB24 3BQ
May-2010 £132,500
Oct-2007 £130,501


I could do this all night long, but I think the point is clear.....

There are plenty of houses in Aberdeen selling for more in 2010 than they did in 2007. The numbers are not skewed by mix changes, or if they are it's a miniscule amount.

IveSeenTheLight

HAMISH_MCTAVISH wrote: »

There are plenty of houses in Aberdeen selling for more in 2010 than they did in 2007. The numbers are not skewed by mix changes, or if they are it's a miniscule amount.

My father in law is about to retire and has decided to sell his rented property.
He mentioned that the EA said that the property market in Aberdeen was quite strong and he would have no problems in selling.

He did buy about 8 or 9 years ago, so it won't be a good help for the analysis you showed

doire_2

While 64% of those surveyed had not seen any change in local house prices during the preceding three months, those who had seen rises - 11% - were outnumbered by the 25% who had seen prices drop

Hmmm so only 11% have seen rises. Yet 25% have seen falls

Thats a lot more falls :T

HAMISH_MCTAVISH

IveSeenTheLight wrote: »

My father in law is about to retire and has decided to sell his rented property.
He mentioned that the EA said that the property market in Aberdeen was quite strong and he would have no problems in selling.

He did buy about 8 or 9 years ago, so it won't be a good help for the analysis you showed

Indeed.

The thing is, "the bears" like to claim that the stats are being skewed by only high value properties selling. But a mere 20 minutes of browsing the sold price histories of Aberdeen property clearly shows that this is not the case.

Of the properties that sold in 2010 which also sold in 2006/2007, the majority sold for the same price or higher. I did also find some that sold for a few percent less, but not as many as sold for more.

The RoS stats look like they are spot-on to me..... Currently a few percent below the couple of months of "absolute peak", but higher than the majority of the peak year 2007. And individual repeat sales show the same thing.

IveSeenTheLight

doire wrote: »

Hmmm so only 11% have seen rises. Yet 25% have seen falls

Thats a lot more falls :T

With 75% seeing stagnant or rises, it more points to stagnation for me than anything else.

Remember we've had a turbulent couple of months with the election and emergency budget which caused caution in the market.

It will be interesting to see how the next few months pan out

chucky

doire wrote: »

Hmmm so only 11% have seen rises. Yet 25% have seen falls

Thats a lot more falls :T

someone needs to explain to you that 75% is a higher percentage number than 25%... and 11% too...

DervProf

HAMISH_MCTAVISH wrote: »

Oh good heavens no..... Aberdeen prices in June 2010 are higher than they were in June 2007, and they've been higher every month this year so far. Now just 4% below peak, and still rising.

So, why get annoyed that prices are falling in 25% of the country? I mean, someone saving up to buy a place in Aberdeen isn`t going to be exactly thrilled that they will have to pay more when they are ready to buy, are they ?

When someone in NotSoGoodAsWhereHamishLivesVille hears that they may be paying a lower price, they aren`t going to say "oh shucks, I might have been able to pay more".

I suppose existing homeowners in Aberdeen may be pleased, as it give thems a better chance of moving further away from you.

HAMISH_MCTAVISH wrote: »

Oh I have..... The fire and brimstone posting style has been replaced by a sense of smug satisfaction. Being proven so very right so very often tends to do that to you.:cool:

Does it make you use bad language and be abusive to others too ?

"Wow, aren't you being a sad sack of !!!!!! this morning....."

Seems it does.

I`m still waiting for your explanation of "peak affordability".

Sibley

The Market dropped 20% before that happened last time McHamish

No get it right.

Houses that were on the market might have dropped. Most people either took their house off the market or didn't put it on in the first place.

90% + of homeowners will sit it out when prices are not high enough to sell. Now with low interest rates it's easily done. There won't be loads of bargains trust me. Anything decent, you'll have to pay for it. Simple.

I'll ask the question. If there was this big crash 2 years ago then why didn't the bears buy the house of their dreams then? Why are they still haunting HPC message boards?

You haven't got a bargain property until you're living in it. You can try talking the market down but until you are sitting in a cut price lovely home your comments are worthless.

I've got a house I'd sell. It was valued at £190K in 2007.

Next door but one sold for £199K this year.

If the markets dodgy now I'll wait before selling it. Simple.

I'm not dropping 1 pence and neither will any other homeowner.

Sorry to burst your crash bubble.

DervProf

^
:rotfl:


"I'm not dropping 1 pence and neither will any other homeowner."

chucky

DervProf wrote: »

^
:rotfl:


"I'm not dropping 1 pence and neither will any other homeowner."

isn't that the same thing as the HPC crowd who already own property preaching that they want lower house prices but don't want to sell their own house for anything less than "market value" or in other words as much as they can get for it...