The Aberdeen House Prices & Rents thread

Crashy_Time

http://www.telegraph.co.uk/property/commercial/house-prices-fall-almost-everywhere-as-property-market-takes-on/

wotsthat

Crashy_Time wrote: »

As opposed to ranting about "mortgage rationing" and "rents soaring" you mean? :rotfl:

I find that I'm able to waffle on about mortgage rationing or any old subject without impacting my desire for a cheap next house.

I reckon you, the crew, and me, will be disappointed and prices won't move much either way for a while. At least you've got Aberdeen to keep you a quiver and there'll be a £50m London house reduced to £45m to keep the rest of you occupied.

12 months from now you'll still be renting.

Crashy_Time

https://m.moodys.com/research/Moodys-Energy-sector-stress-makes-mortgage-arrears-triple-in-Aberdeen--PR_348496

Crashy_Time

http://www.telegraph.co.uk/business/2016/05/14/aberdeen-the-granite-city-in-crisis/

carslet

Crashy_Time wrote: »

http://www.telegraph.co.uk/business/2016/05/14/aberdeen-the-granite-city-in-crisis/

Sounds very grim.

fun4everyone

carslet wrote: »

Sounds very grim.

Yep and for a lot more than just oil workers it is. Rents continue to plummet (they have been falling very hard for a substantial amount of time now). Knock on effects to hotels, high end car dealers and the suchlike are substantial.

That said the oil price is rising nicely and things will return to normal in Aberdeen soon in my opinion. There has been pain and a crash in more than just rents but everything is on the up again. What I fear is that Aberdeen as a city will not learn. Reliance on oil will continue and when it finally does go what is going to happen then?

Scrubber

Where is IveSeenTheLight these days?

12 months and a couple of days, since he last logged in.

He totally dropped off the forum.

I used to rely on him for market intel about Aberdeen. Joys of x3 BTL and living his dream with new self-build big house. How rising prices 'means easier to trade up' and buy more house, even if it means lot more debt.

Not easy to know what Aberdeen market is like at the moment. Probably doing much better than the HPCers are suggesting. Always crash around the corner for them.

westernpromise

So towards the top of this page in post #181 we have a prediction from Crashy:

50% crash easily on the cards in Aberdeen IMO

That was on 9th April. It's now more or less five months later. How's the 50% crash coming along?

wotsthat

Aberdeen records the biggest fall in house prices in 2016 - minus 6.9%.

Maybe the other 43.1% fall as predicted by Crashy arrives in 2017.

You always know when someone is hoping rather than making an informed guess because the prediction is never 30% or 40% - always 50%.

http://www.telegraph.co.uk/business/2016/12/30/do-live-town-fastest-growing-house-prices-year/

westernpromise

Of course Crashy needs another 123% on top of the 6.9%, which at the current pace is going to take about 18 years...