House prices falling rapidly in Scotland

robmatic

47thElement wrote: »

Its always funny when one of the house price bulls loses an argument. They say well I dont really care about house prices going down anyway. So why keep posting ramping house prices then?

Seriously, another new account?

doire_2

geneer wrote: »

Except I wasn't banned for trolling.
Yet again, you are incorrect.

Better watch out, the bulls will have another group moan to admin about you.

You get up their noses and they call it trolling?

googler

Setting aside all 'average' figures, I can look at houses currently for sale as easily as the next person, and see what they sold for in 2007, 2008, etc.

Examples

1-bed end-terraced - sold in 2008 at £122,000 - current asking between £98,000 and £105,000

2-bed semi - Jan 2008 at £175,000, current asking £132,000 (HR value £140,000) for one needing upgrades and £155,000 for a pristine one.

At the high-end, I can see one particular house that was marketed in 2007/8 by the builder at £1,600,000. It sold then for £1,350,000 and was recently/still is for sale at around the £900,000 mark.


I'd rather rely on this kind of metrics to tell me where the market is than any averages computed over all styles and conditions of property

geneer

googler wrote: »

Setting aside all 'average' figures, I can look at houses currently for sale as easily as the next person, and see what they sold for in 2007, 2008, etc.

Examples

1-bed end-terraced - sold in 2008 at £122,000 - current asking between £98,000 and £105,000

2-bed semi - Jan 2008 at £175,000, current asking £132,000 (HR value £140,000) for one needing upgrades and £155,000 for a pristine one.

At the high-end, I can see one particular house that was marketed in 2007/8 by the builder at £1,600,000. It sold then for £1,350,000 and was recently/still is for sale at around the £900,000 mark.


I'd rather rely on this kind of metrics to tell me where the market is than any averages computed over all styles and conditions of property

Quite right too.
It has been clearly demonstrated that the blunt averages aren't all that reliable at the moment. DYOR is a must.

IveSeenTheLight

geneer wrote: »

Quite right too.
It has been clearly demonstrated that the blunt averages aren't all that reliable at the moment. DYOR is a must.

WOW, I thanked a geneer post.
Don't think I've done that before.

geneer is right (in this instance) to Do Your Own Research.

I started a thread a few years ago highlighting the same fact via regional variations.
https://forums.moneysavingexpert.com/discussion/898381

Of course, you should ensure your research goes much deeper and even more localised if you are becoming a serious vested interest.

Niksan

It's obvious there's only one reason house prices are falling, an that's this. http://ciracar.com/build-a-house-for-less-than-5000

IveSeenTheLight

Niksan wrote: »

It's obvious there's only one reason house prices are falling, an that's this. http://ciracar.com/build-a-house-for-less-than-5000

When are you building your one?

IveSeenTheLight

47thElement wrote: »

I just looked to see what the top threads were, and I see houses are still crashing in England and Wales. Then prices falling even more rapidly in Scotland.

Only leaves Ireland, maybe they are doing better, oh wait they have crashed about 50%.

doesnt look good for property going forward.

Maybe you need to look a bit deeper than headlines.

The below is data taken from the Register of Scotland Exucutive Agency (equivalent to E&W's LR).

Where's the rapid falls? (Remember to understand that this monthly figures are not mix adjusted thus more susceptable to noise.

geneer

IveSeenTheLight wrote: »

Maybe you need to look a bit deeper than headlines.

The below is data taken from the Register of Scotland Exucutive Agency (equivalent to E&W's LR).

Where's the rapid falls? (Remember to understand that this monthly figures are not mix adjusted thus more susceptable to noise.

Well there was a fairly rapid fall in 2008, 2009 and 2010.
Thats pretty noisty!

You're right. It is neccesary to look a bit deeper. Unfortunately you've only provided the blunt Scotland high level averages, so not really achievable with the "evidence" you're providing.

Theres a fair bit of evidence that the "new peaks" are the noisy bits, not least of which being the statements made to the press by the producers of such statistics confirming the same.

B_Blank

geneer wrote: »

Well there was a fairly rapid fall in 2008, 2009 and 2010.
Thats pretty noisty!

You're right. It is neccesary to look a bit deeper. Unfortunately you've only provided the blunt Scotland high level averages, so not really achievable with the "evidence" you're providing.

Theres a fair bit of evidence that the "new peaks" are the noisy bits, not least of which being the statements made to the press by the producers of such statistics confirming the same.

You can always rely on geener to prove the know-it-alls wrong! Thanked!