Scottish tax brings market in £1m homes to a standstill

zagubov

Generali wrote: »

I must be missing something. What do those pieces tell us about the Scottish housing market for expensive homes?

If prices are up 14% but high price homes are barely selling doesn't that imply a high rise in prices in middle priced homes?

It shows an annual rise in prices including seasonal waves but a long-term large increase in high-value houses, which seems to peak just before the tax increase, in a way that reminds me a lot of how car sales fell and rose around the time new annual year plates were issued.

I'm not implying the original article's just a nice bit of silly-season selective data-mining of an upward-sloping zig-zag so a posh estate agent gets to have a moan. Oh, wait a minute
:think:

There'll be worse examples of "news" before parliament gets back.;)

Generali

zagubov wrote: »

It shows an annual rise in prices including seasonal waves but a long-term large increase in high-value houses, which seems to peak just before the tax increase, in a way that reminds me a lot of how car sales fell and rose around the time new annual year plates were issued.

I'm not implying the original article's just a nice bit of silly-season selective data-mining of an upward-sloping zig-zag so a posh estate agent gets to have a moan. Oh, wait a minute
:think:

There'll be worse examples of "news" before parliament gets back.;)

I forget about 'silly season' as now is quite a high news flow time for Aus. End of financial year is 30 June so all the big companies are reporting now and the pollies are at each others' throats.

A sample of 12 homes selling in June in an average year at a price of over a million. I'm going to stick my neck out here and state that isn't a statistically valid sample to take: simply too few houses sell at that price to be able to take any sort of a view except at the extremes.

Yes, it seems that purchases were brought forward to avoid the tax. It now remains to be seem whether million quid + homes are salable in Scotland.

zagubov

Generali wrote: »

I forget about 'silly season' as now is quite a high news flow time for Aus. End of financial year is 30 June so all the big companies are reporting now and the pollies are at each others' throats.

A sample of 12 homes selling in June in an average year at a price of over a million. I'm going to stick my neck out here and state that isn't a statistically valid sample to take: simply too few houses sell at that price to be able to take any sort of a view except at the extremes.

Yes, it seems that purchases were brought forward to avoid the tax. It now remains to be seem whether million quid + homes are salable in Scotland.

Not that any of these properties would compete with Aus, but I'd suggest it's probably not good for the blood pressure to compare what you get for your money in Scotland with what you get in England, particularly the South. :eek:

beecher2

zagubov wrote: »

Not that any of these properties would compete with Aus, but I'd suggest it's probably not good for the blood pressure to compare what you get for your money in Scotland with what you get in England, particularly the South. :eek:

Exactly. A £1million pound house would now have a land tax payment of £78,000 - in England it would be £40,000 but the house price differential makes this a drop in the ocean in the general scheme of things.

Loughton_Monkey

Frankly, I'm most surprised that there are houses worth >£1million in Scotland.

Have they started to put in inside toilets now?

zagubov

Loughton_Monkey wrote: »

Frankly, I'm most surprised that there are houses worth >£1million in Scotland.

Have they started to put in inside toilets now?

Yes. In the smaller houses, they're between the indoor cinema and the indoor hanggliding arenas.

Loughton_Monkey

zagubov wrote: »

Yes. In the smaller houses, they're between the indoor cinema and the indoor hanggliding arenas.

Maybe you're getting confused. Usually, the toilets in this part of the house are purely for the gnat farm. They have to produce Scotch somewhere.

Hamish may be along soon to give us the truth. Very knowledgeable chap. But gets irritated with some of my posts for some reason.