BBC: Scottish Property Prices Reach All Time High

geneer

IveSeenTheLight wrote: »

If your that slow, no wonder you can't get a property.

Honestly, in my experience, decent properties in Scotland go to closing date within a couple of weeks from being marketed.

Then they complete in about 4 weeks. (*NOTE* that's 4 weeks from offer), then take a couple of weeks to get to the ROSEA

So your only talking about 6 weeks.

Maybe that the difference. Most of us look at decent properties, while your scraping around at the bottom waiting for that elusive budget property that always seems to go before you even think to get your finger out of your hoop (do you like what I did there, you'll be creaming yourself at my metafore)

Apparently, it takes on average 6 weeks just to get from offer to mortgage approval. Though its simply fab that you can circumvent that.


:rotfl::rotfl::rotfl:You had better pop down and have a chat with the BOE IveSeenTheLite. Clearly they've not had the benefit of your experience.

As far as my experience goes....its still very funny that you appear to care so very, very much.

BTW, I knew you'd been back babe. :kisses2:

geneer

Oh dear lite.

Looks like Scottish Solicitors and estate agents haven’t had the benefit of your experience either.



http://www.austinlafferty.co.uk/Austin-s-Blog/entry/scottish-housing-market-feel-bounce-back.html

The RoS figures are seen as the most accurate measure of activity in the nation’s housing market, as they include all property deals recognised by the Government.

Because of the time it takes to process and complete a house sale, however, there is a significant time lag in the records. A property deal completed in the first quarter this year may actually have been arranged as long ago as last summer.

Incidentally. Even if I had managed to find a property, put in a bid, arrange a survey, get a mortgage approved, get the legals drawn up, and get moved in, completed, and hand deliver the documents to the ROS myself all in the one day you really, really, really appear to wish it could have taken, how exactly does that change which quarters ROS data is most relevant?

Because, lordy gosh, I can’t imagine one house sale changing the average all that much. One still has to assume that the average sale forming the average figure still takes the average amount of time to go through the process.

Which I guess officially means neither the Land Reg or the Estate Agents will be that bothered by the benefit of your experience. So sorry.

Should have though of this before. Of course I wouldn’t have had the sport of watching you bang your head off a brick wall repeatedly.

Heh heh heh.

Losing_the_way

An alternative view


http://www.bbc.co.uk/news/uk-scotland-scotland-business-12208405

RalphDormanci

How we doin??!

geneer

Losing_the_way wrote: »

An alternative view


http://www.bbc.co.uk/news/uk-scotland-scotland-business-12208405

How about this one.

http://news.scotsman.com/news/Scottish-housing-market-faces-39lost.6693783.jp

David Alexander, owner of DJ Alexander letting and estate agents, warned that the Scottish housing market faced a long period of subdued activity.

"We are already two and a half years into the downturn and potentially the market is still falling. With no sign of an end, we are potentially in a lost decade.

"If the market finishes this year where it is now, that will be a good result."

Ouch!

Pimperne1

If the market finishes this year where it is now it will be a good result. Its just as likely to finish higher or lower too. For me, if it finishes higher it will be an even better result, if it finishes lower it will be a worse result. Lets be honest, the least likely scenario is for it to finish where it is now - my vote is for a slight increase or fall, neither of which will affect anyone very much I suspect.

IveSeenTheLight

geneer wrote: »

Oh dear lite.

Looks like Scottish Solicitors and estate agents haven’t had the benefit of your experience either.



http://www.austinlafferty.co.uk/Austin-s-Blog/entry/scottish-housing-market-feel-bounce-back.html

You seem to have selective reading syndrome. Not surprising really.

Here's the part's of the blog you missed

Scotland's flagging property market is bouncing back with average prices up in almost every part of the country and more sales recorded.

The average selling price for the three months to June was £153,248 – an increase of 5.3% on the same period last year – with sales up 2800 or 17.1%, according to figures from Registers of Scotland (RoS).

The market as a whole was worth over £500 million more than the previous year.

The growth in prices was far more marked in Edinburgh than Glasgow, however, with prices up 7.8% annually in the capital compared with just 0.9% in the west.

One Edinburgh estate agent, who also has business in Glasgow, said it could be a sign that demand was simply more robust in the capital, and that sellers had been able to hold out for the closing price they were looking for.

Matthew Benson, director of Rettie & Co, described the trend as encouraging, and noted a 17.3% increase in sales in Edinburgh.

However, although the market was showing signs of heating up, he added that the overall number of transactions was still low compared with four years ago, and the economic outlook remained uncertain.

Experts put the growth down, in part, to low interest rates making mortgages affordable and property a more attractive form of investment.

However, there is a marked discrepancy in housing trends across the country, with some areas recording far stronger growth than others. Average prices in the capital climbed back above £200,000 within the last year, and in East Lothian there was a £30,000 jump in average selling price coupled with a rise of one-quarter in the total volume of sales.

At the other end of the table were Shetland, East Ayrshire and Midlothian, where fewer homes were sold than last year.

There were also wide variations in movements for different types of homes, with sellers of flats, detached and semi-detached houses enjoying far bigger gains than those offering terraces.

The number of flats sold was up by one-fifth year-on-year in the three months from April to June, but just 8.7% more terraced homes were sold.

Detached and semi-detached properties saw 14.7% and 13.5% growth respectively.

Overall, though, the value of the Scottish housing market rose by 23.3% year- on-year, hitting a total of slightly less than £3 billion.

Expert opinion has been split over whether the growth can continue amid a shaky economic recovery.

The Centre for Economics and Business Research said this week that house prices across the UK would increase by around 4% this year and then continue rising until at least 2014 due to chronic shortages in housing stock.

However, a report by the UK National Institute of Economic and Social Research said the market would fall by 8% in real terms over the next five years. [edit]a fall in reall terms of 8% over five years. Surely that infers nominal rises [/edit]

While Scotland’s experience has been broadly in line with that of the UK, prices remain significantly lower, with the average price north of the border still below the outlay of a typical first-time buyer in England.

The most expensive place in Scotland remains the capital, where an average home will cost £213,915. East Lothian is the second most expensive, at £201,359, with East Renfrewshire third at £199,602.

In Glasgow, properties are going for £127,566, while in the country’s cheapest area – the Western Isles – the average price remains below six figures, at £96,807.

.....selective reading........

The mortgage market only covers 75% of the total transactions in this country, according to Kenny Crawford, head of commercial services at the RoS. "The RoS statistics are the only figures that properly reflect the national picture as we record every property transaction," he added.

.....selective reading........


In addition, seasonal fluctuation in home sales cloud the short-term picture, making year-on-year analysis the most accurate method.

Sales are traditionally lower in winter, for instance, so although a 30% increase was observed moving from the January to March period into the next quarter, this does not necessarily mean longer term growth. Sales figures typically slow again after summer.

Happy digesting of the full picture

geneer

IveSeenTheLight wrote: »

You seem to have selective reading syndrome. Not surprising really.

Here's the part's of the blog you missed



Happy digesting of the full picture

:rotfl::rotfl::rotfl:talking about selective, you seem to digging out everything except the bit relevant to what you (previously) were so super keen to talk about.


Not to mention that the blog is dated august 2010. What a spacker!

IveSeenTheLight

geneer wrote: »

:rotfl::rotfl::rotfl:talking about selective, you seem to digging out everything except the bit relevant to what you (previously) were so super keen to talk about.

I quoted the whole blog but saved repeating the part you selectively read.
Now with both quotes you get the full picture

geneer wrote: »

Not to mention that the blog is dated august 2010. What a spacker!

LOL, it's your link to the blog.
Who's the spacker for referring it.
Is it not so good when you read the whole picture.

My my, what lengths you'll go to to twist the truth.

Try opening your eyes and seeing the real picture

geneer

IveSeenTheLight wrote: »

I quoted the whole blog but saved repeating the part you selectively read.
Now with both quotes you get the full picture

LOL, it's your link to the blog.
Who's the spacker for referring it.
Is it not so good when you read the whole picture.

My my, what lengths you'll go to to twist the truth.

Try opening your eyes and seeing the real picture

:rotfl::rotfl::rotfl:So you ignored the part relevant to the discussion and smokescreened with a cut and paste extravaganza. Pretty sure thats exactly what I said you did.

By the way brainthrust, aug 2010 house prices will certainly be out of date.
Typical lag on house price data.....nosireebob.

Darling, you're a bit of a spacker aren't you.