The Aberdeen House Prices & Rents thread

Crashy_Time

Inception wrote: »

Living in Aberdeen I actually have an interest in the local property prices and find this thread a great supplement to all the other great sources of information out there...it also gives me a great laugh with people obsessing over a property crash in a place where they do not live and with a person called Hamish who talks sense...

Anyway I was wondering if anyone had any opinions on the state of houses in the shires around the city. For example towns such as Inverurie and Stonehaven, if Aberdeen was to fall further will they fall in tandem or have they got enough stability to stand their own ground? Stonehaven was apparently the most expensive coastal town in the country with a 101% increase over a decade prior to 2014. Prices fell -1.8% last year in Stonehaven which is pretty much in line with Scotland at -1.9% and obviously with Aberdeen a little higher at -2.8%. So what could the future hold for towns such as Stonehaven?

If the wider effects of a HPC in Aberdeen (one of the richest areas in the UK, or used to be) are lost on you and you think a Spammer like Hamish talks sense then I don`t hold out much hope of hearing too much sense from you TBH. What could the future holds for Stonehaven? It won`t be high on the "Must live there" list for many people after the oil goes surely? House prices will collapse.

HAMISH_MCTAVISH

Crashy_Time wrote: »

Lets just watch Aberdeen and see who is right.

Well we're now 18 months into crashing oil prices and Crashy Time's claims of crashing house prices.

Lets look at the actual effect on house prices in Aberdeen.

Hometrack survey of 20 major UK cities, shows that average house prices in the Granite City fall by 1.6 per cent in the year to February 2016.

That compared to a 9.3 per cent rise in the previous year.

1.6% down in a year after rising 9.3% the previous year alone isn't a crash.... But lets move on.

Dr John Boyle, director of research and strategy for Rettie and Co, felt that Aberdeen house prices and transactions are holding up "reasonably well" considering the economic fallout cause by the oil price collapse.

"Aberdeen was probably due a correction anyway due to the rapid pace of growth between 2004 and 2014, when it outgrew London in terms of average prices,".

It's safe to say almost nobody will notice a dip of a few percent after growth like that.

Anyone else?

Faisal Choudhry, head of Savills Research in Scotland, said Aberdeen was continuing to "adjust" following several years of "phenomenal" house price growth.

"However, there are some parts of the market which have remained somewhat stable, such as properties priced between £200,000 and £400,000, which are continuing to attract professionals and families,"

http://m.heraldscotland.com/news/14383552.Aberdeen_becomes_only_city_of_20_in_UK_to_see_an_annual_house_price_drop/

Hmmm....

Maybe that's the 90% of people in Aberdeen who don't work in oil and gas just getting on with their lives.

I did mention earlier I need to buy another property so it's annoying that I'm right. But the 2016 forecast thread looks spot on so far. Mild dips in price but no crash yet anyway.

HAMISH_MCTAVISH

And in other news....

Aberdeen has seen the highest house price growth in Scotland over the past decade, a report has found.

It has seen a 58% increase over the last 10 years, and a 22% rise since 2011, with the average price now standing at £214,160, according to the Bank of Scotland Affordable Cities Review.

https://www.eveningexpress.co.uk/fp/news/local/city-has-highest-house-price-growth-in-scotland/

Crashy_Time

http://www.housepricecrash.co.uk/forum/index.php?/topic/48163-aberdeen-aspc-stats/page-265#entry1102911639


Story slightly different here of course. I would guess the P&J gets most of it`s advertising from property developers?

Crashy_Time

Link not working, HPC hive mind saying the reductions are coming thick and fast now in the `shire?

System

HAMISH_MCTAVISH wrote: »

And in other news....

https://www.eveningexpress.co.uk/fp/news/local/city-has-highest-house-price-growth-in-scotland/

Ah, but what you're missing is despite a 58% rise in the last 10 years they fell a bit recently so you look silly and Crashy was right all the time.

Or something.

baz8790

The surveyors seem to think house prices are rising in Aberdeen, well the types of houses within my budget.

£145k
https://www.aspc.co.uk/search/property/339930/72-Mastrick-Drive/Aberdeen/

£160k
https://www.aspc.co.uk/search/property/340020/70-Upper-Mastrick-Way/Aberdeen/

£170k
https://www.aspc.co.uk/search/property/340463/16-Caiesdykes-Crescent/Aberdeen/

I know the last one is in a different area and an end terraced house but I can't see it being worth £25k more than the first one.

Crashy_Time

baz8790 wrote: »

The surveyors seem to think house prices are rising in Aberdeen, well the types of houses within my budget.

£145k
https://www.aspc.co.uk/search/property/339930/72-Mastrick-Drive/Aberdeen/

£160k
https://www.aspc.co.uk/search/property/340020/70-Upper-Mastrick-Way/Aberdeen/

£170k
https://www.aspc.co.uk/search/property/340463/16-Caiesdykes-Crescent/Aberdeen/

I know the last one is in a different area and an end terraced house but I can't see it being worth £25k more than the first one.

I take it the red arrow pointing down means they are rising?


When the oil crash blows through these houses will be 70k, if that.

HAMISH_MCTAVISH

Crashy_Time wrote: »

I take it the red arrow pointing down means they are rising?

:rotfl::rotfl::rotfl:

That's the 'print' button.

HAMISH_MCTAVISH

Crashy_Time wrote: »

When the oil crash blows through these houses will be 70k, if that.

Here's hoping we see those sizes of falls, unlikely as it may be.... :beer:

But on a slight note of caution, you've been saying things like that every single year for 8 years now.

"Prices tanking', 'Epicentre of the crash', 'It's all over', etc etc etc.

People looking at average priced houses that listened to you back then in Aberdeen would be nursing not much shy of a £100,000 loss versus renting the same house since.