'We've reached a tipping point' Signs of house price weakness

Crashy_Time

robmatic wrote: »

Rightmove isn't the best indicator - Citlylets is the most widely used letting website in Edinburgh.

If you look on Citylets at the 164 available flats in the city centre, you will see that there actually two at under £500 (cheapest is £470).

http://www.citylets.co.uk/results.aspx

Crashy_Time

http://www.citylets.co.uk/results.aspx


If this landlord just accepted reality he could get 375 p.m maybe, but his borrowing maybe means he just has to keep trying for the higher price. If a "friend of a friend" offered me that, I would offer 300 p.m tops.




Link has stopped working, but a few seconds worth of search already turning up cheap flats all over the place.

Crashy_Time

Crashy_Time wrote: »

http://www.citylets.co.uk/results.aspx

I don`t know why "city centre" got brought into it (maybe to prop up a lost argument?) but as you know, Edinburgh is so small that even as far out as Musselburgh is a fast run to the centre by bus at off peak times. Admittedly peak times are something very different, but widening the search that far will turn up more and more cheap flats I believe, and that is before we even get to word of mouth, newspaper and notice board ads.

System

An HMO in Musselburgh and getting the bus. Living the dream.

Crashy_Time

Joeskeppi wrote: »

An HMO in Musselburgh and getting the bus. Living the dream.

Don`t know if you can read JoeDebty (did you bother to read the small print on your mortgage for example?) but none of the flats I mentioned are HMO`s. Still living the real dream in Spam Valley are you?

gallygirl

They're hardly luxurious either are they? Studio apartments, cheap kitchens and bathrooms, bedroom with no window, cheap council properties, not the most salubrious of areas. Hardly living the dream is it?

Crashy_Time

gallygirl wrote: »

They're hardly luxurious either are they? Studio apartments, cheap kitchens and bathrooms, bedroom with no window, cheap council properties, not the most salubrious of areas. Hardly living the dream is it?

No, but it could mean someone putting a few hundred away every month, and that is a choice some make rather than pay bubble prices for property that is lets face it not that much better. The problem with this thread is that as we see the previous arguments fall away - You can`t rent in Edinburgh for less than 650 p.m became - There is nothing for less than 470 p.m - became "You live in an HMO HO HO HO" etc. when it became obvious that anyone doing some looking and negotiating could easily rent for 400 p.m.


If you saw the programme the other night about the young girl from Niddrie who won a million on a scratch card, the house she went out and bought for cash wasn`t much better than the flat I`m sitting in now !!!!!!! OK, she was pretty young and clueless, but people have borrowed lots of money for some right rubbish. At least in a rented flat or HMO you can walk away if you don`t like it.

Bubble_and_Squeak

Yay!
Crashys back!

lisyloo

No, but it could mean someone putting a few hundred away every month, and that is a choice some make rather than pay bubble prices for property

If a single person (or couple) wants to make that choice then I think that's a perfectly valid choice - although as you say we should make sure we are comparing apples with apples.
Not everyone is prepared to live in sub-standard accomodation or have long commutes. If you have small children or a baby it's not really going to work.
I've lived temporarily in some tiny studios in London with DH. The sort of places where you can't bend down in the shower because there isn't enough room and you have to sit at an angle on the toilet (I'm not kidding) or climb over each other if you need to get out in the night.
I don't mind roughing it temporarily but personally I don't want to live my life like that although I can certainly see why you would if it achieves a long term financial goal.

I have no issues with how others choose to live but we do need to make sure we compare apples with apples and if we're talking about trends in the general population then we need to be realistic about what's acceptable for families e.g. living next door to a crack den in a mouldy hovel isn't going to be acceptable for most people with small children unless they really don't have a choice.

wotsthat

Crashy_Time wrote: »

No, but it could mean someone putting a few hundred away every month, and that is a choice some make rather than pay bubble prices for property that is lets face it not that much better. The problem with this thread is that as we see the previous arguments fall away - You can`t rent in Edinburgh for less than 650 p.m became - There is nothing for less than 470 p.m - became "You live in an HMO HO HO HO" etc. when it became obvious that anyone doing some looking and negotiating could easily rent for 400 p.m.

At least you're conceding that the rent you pay is far from typical. However, it's far from obvious that even £400 pm can be easily be achieved - you're just ignoring the evidence.

I like the idea people are renting these places because they're saving and avoiding the bubble. More like it's because that's all they can afford and have little choice.

Crashy_Time wrote: »

If you saw the programme the other night about the young girl from Niddrie who won a million on a scratch card, the house she went out and bought for cash wasn`t much better than the flat I`m sitting in now !!!!!!! OK, she was pretty young and clueless, but people have borrowed lots of money for some right rubbish. At least in a rented flat or HMO you can walk away if you don`t like it.

Your £300 pm rental is on a par with a £1m Scottish house?

Are you using this forum to test your stand up routine?