House prices +9.9% in last 12 months

HAMISH_MCTAVISH

In Aberdeen. :beer:

A total of 24,274 properties were sold between July and September - 22.5% more than the same period last year.

It was the highest quarterly figure recorded by Registers of Scotland since 2008.

Average prices across Scotland rose by 1.5% year-on-year, raising the average cost of a home to £161,748.

The figures also showed a 24.4% year-on-year increase in the total value of residential property sales, which stood at £3.92bn.

The highest priced properties during the quarter were in Edinburgh, where the average home changed hands for £222,759.

Aberdeen recorded the highest percentage rise in prices, with values jumping 9.9% compared with the same period last year, to an average of just over £210,010.

Glasgow also experienced a 19.4% increase in residential property sales when compared with the same quarter last year.

http://www.bbc.co.uk/news/uk-scotland-scotland-business-24725562

Sales volume soaring as well.

Excellent news for those FTB-s now able to get on the ladder now mortgage rationing is ending.

shortchanged_2

How is it good news for an FTB'er that they now have to pay nearly 10% more for a property than last year?

Please explain Hamish why it's good news that an FTB'er now has to have a bigger mortgage to buy a property?

mayonnaise

shortchanged wrote: »

How is it good news for an FTB'er that they now have to pay nearly 10% more for a property than last year?

Please explain Hamish why it's good news that an FTB'er now has to have a bigger mortgage to buy a property?

It's not really what he said, is it?

HAMISH_MCTAVISH wrote: »

Excellent news for those FTB-s now able to get on the ladder now mortgage rationing is ending.

I don't know about you, shortchanged, but I'd rather have a 110K mortgage I can get than a 100K mortgage with no chance in hell of bagging one.

ILW

mayonnaise wrote: »

It's not really what he said, is it?



I don't know about you, shortchanged, but I'd rather have a 110K mortgage I can get than a 100K mortgage with no chance in hell of bagging one.

Go back a few years and anyone could get a mortgage and that £100k place would have cost £30k. Sounds a better option to me.

Pimperne1

That is a big jump. Are there any more detailed figures available for the capital city - I have a friend who is very interested in them?

antrobus

HAMISH_MCTAVISH wrote: »

In Aberdeen. .....

And that's without a Waitrose store.

moneyinmypocket

It's good news for FTBs who bought before the rise and it's good news in a way for those who held off as it shows it's good to buy a house - they could be 10% higher in another 12 months so buy ASAP

gazzabboi

ILW wrote: »

Go back a few years and anyone could get a mortgage and that £100k place would have cost £30k. Sounds a better option to me.

Forget about the past mate, there's no chance of ever going back that low. Only way is up.

chucky

ILW wrote: »

Go back a few years and anyone could get a mortgage and that £100k place would have cost £30k. Sounds a better option to me.

Seeing that 'a few years ago' only about 60% were homeowners your exageration about "anyone' is a bit delusional.

THE_MASKED_TURNIP

I don't get this need for constant hand ringing by the goons. If rises rise and you want to buy then buy and get on with paying down your own mortgage and get on with your life. If you don't want to buy then don't buy and get on with paying down your landlords mortgage and put you life on hold.

It really is that simple.

thescouselander

HAMISH_MCTAVISH wrote: »

In Aberdeen. :beer:


http://www.bbc.co.uk/news/uk-scotland-scotland-business-24725562

Sales volume soaring as well.

Excellent news for those FTB-s now able to get on the ladder now mortgage rationing is ending.

Still waiting to see evidence of this "mortgage rationing". And I don't mean some article off the BBC from years ago - I mean proper evidence. The fact is there was never mortgage rationing in the first place.