Scottish housing market

Lady_maverick1979

Well the market in the North of Scotland seems similarly crazy.

We sold in the Central Belt in September, making £25k on a flat we'd been in for 4 years (in Livingston, where prices really are going crazy as people are moving out of Edinburgh simply because it is no longer affordable to live in).

We're heading to Aberdeen in the New Year. I didn't htink prices there would be as bad as Edinburgh, but they are, as the oil money is coming back to the city. We budgeted £200k for our property, hoping to buy in the city, close to my husband's work, but TBH, to get something in a halfway decent area, our £200k would really only get us another 2-bed flat (3 if we were lucky), which was really a no-go with a toddler who needs space.

In the end, we've gone half an hour out of the city, got 4-bed (new build) detached with garden and garage and are delighted, even though it means hubby will be commuting again. But to cap the craziness, the developers have just released the next phase of building, and the same style of house is now £29k dearer than what we paid, only 3 weeks after we reserved!!!

I think any sort of crash will be as keenly felt north of the border as south.

L_M.x

irnbru_2

Prudent wrote:

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.

Vested interests.

Like all housing markets there are going to be cold and hotspots.

One demonstrable aspect of the OO system is whether (and how quickly) a house goes to FP. That's important, because, in a speculative market you don't get too many FPs as the bidding (over) reaches the target price. In a depressed market you get everything at FP i.e. ye pays yer money ye get the hoose

It terms of it not suffering a crash, those people are kidding themselves. Why is our housing market any different from any other market?

Congratulations on owning a home and not an investment.

teapot2

tom188 wrote:

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

ooops musta kept my finger on the '0' key - even in legoland they're not that expensive

teapot2

I've noticed there are quite a few fixed price houses going even in the devleopments round here - not so many that its put the developers off continuing to build though.

Recently 2 houses locally built next to a chicken hatching factory backing onto the East Coast railway line with a busy main road in front. Surprised that one has sold - the other gone to FP after quite a few months but I noticed its still on the market. Don't understand why anyone would pay daft prices for such a minging location

roswell

and no one in scotland will get the common cold this year.