Scottish housing market

Prudent

I have read in several newspapers that the Scottish housing market is unique and is unlikely to be effected by any crash elsewhere in the uk. Why is this? I don't follow the news about the housing market too closely, as I own my house outright and don't need/ want to sell, so have missed the reasons.

colliecrew

My friend runs a very large plumbing firm which is usually sub-contratced to large housing developments.
He attended a conference 2 weeks ago regarding the housing market in Scotland. He learned that the housing market here is 5-6 years behind the rest of the UK and because of this it can expect continued growth for the next 5-6 years.
The other info he learned was if you plan to sell to up-size, you'd better do it now as house prices will continue to rise.
Hope this helps.

meanmachine_2

5-6 years behind the rest of the country?

What tripe.

It's no different to any other market. The only difference is historical in that it avoided a crash last time because prices hadn't got out of hand.

Too late for that. The market north of the border is as bubbly as that down here.

clarkey_2

I'm honestly a little skeptical of this kind of talk. If Scotland is unique, then why does it matter what's happened in the UK in the past?

Prudent

meanmachine wrote:

5-6 years behind the rest of the country?

Too late for that. The market north of the border is as bubbly as that down here.

The market is very bouyant here. I think the figure for the last year for this area is around a 16% rise.

jennifernil

I have noticed that the size of increases that in the south are reported over the last 5 years are the same as we up here have had in the last 15 years.
We built a house in 1988, it cost £160000 by the time it was all finished, garden done etc, including carpets and light fittings. If we were to sell today we would get around £450000, maybe £500000. We are in one of the more expensive areas. How does that compare with other areas?

teapot2

I'm about 30 miles outside Edinbro and round here they are building legoland houses like there's no tomorrow. In the last year the area from here to the Capital has got its first £100,000,000 houses in areas that when i was growing up were considered worthy of avoiding. The thing is they are very near the A1 which is now trunked on this stretch and so extremely desirable for commuting. Depends on where you are in Scotland - there are 'hotspots' like everywhere else. A few years ago you couldn't give houses away in parts of ayrshire - no jobs.

tom188

In the last year the area from here to the Capital has got its first £100,000,000 houses in areas that when i was growing up were considered worthy of avoiding.

£100 million? surely thats a record for the UK. A bit overexuberant with the 0's i think teapot2.

meanmachine_2

See, the Scottish market is just as crazy now as the English one - sorry to have exported rampant house price inflation to you guys.

And parts of Edinburgh are as bad as London, price wise.

If the market does turn nasty it's likely to affect everywhere, including N Ireland which is quickly catching up with everywhere else - despite being a much less populace country.

N Ireland *was* a few years behind the rest of the UK. Not anymore.

Prudent

teapot2 wrote:

I'm about 30 miles outside Edinbro and round here they are building legoland houses like there's no tomorrow. In the last year the area from here to the Capital has got its first £100,000,000 houses in areas that when i was growing up were considered worthy of avoiding. The thing is they are very near the A1 which is now trunked on this stretch and so extremely desirable for commuting. Depends on where you are in Scotland - there are 'hotspots' like everywhere else. A few years ago you couldn't give houses away in parts of ayrshire - no jobs.

I also live about 30 miles from Edinburgh, but in a different direction, legoland building here too.

Rimo2021

I think the market is overpriced here in Scotland too, I expect whatever happens down south to be largely reflected in Scotland.