Buy now (in Dundee) or wait?

Crashy_Time

westernpromise wrote: »

Anyone thinking of listening to Crashy's advice should be aware that he has been short property and renting for 20 years. He now needs prices to reduce by about 130%, i.e. for property to become worth less than nothing, for this to have been in hindsight a smart strategy.

More to the point, there has never been a time since 1996 when Crashy thought buying was a good idea. So what are the chances of his being right now?

So you think no chance of house prices in Dundee dropping from here?

Bluebirdman_of_Alcathays

Crashy_Time wrote: »

So you think no chance of house prices in Dundee dropping from here?

What's different now to the last time you said all this?

torbrex

Prices in Dundee seldom drop by much and always recover quickly so put that side of it out of your mind, this is not an area where speculators control the market, people buy houses in Dundee to live in them.
The Aberdeen Market seldom impacts on Dundee, the oil flow would need to stop completely for that to have any impact.

As to where in the city to buy, personally I would stay away from the centre, it is a renters market because of the university.
Ideal places (for my liking) would be Downfield, Fairmuir, Invergowrie, Balgay Park area, Magdalan Yard, east of Baxter Park, Dawson Park area and almost anywhere in Broughty Ferry.

Crashy_Time

Bluebirdman_of_Alcathays wrote: »

What's different now to the last time you said all this?

https://www.ros.gov.uk/__data/assets/pdf_file/0015/40164/RoS-statistical-report-Jan-Mar-2016.pdf

Crashy_Time

torbrex wrote: »

Prices in Dundee seldom drop by much and always recover quickly so put that side of it out of your mind, this is not an area where speculators control the market, people buy houses in Dundee to live in them.
The Aberdeen Market seldom impacts on Dundee, the oil flow would need to stop completely for that to have any impact.

As to where in the city to buy, personally I would stay away from the centre, it is a renters market because of the university.
Ideal places (for my liking) would be Downfield, Fairmuir, Invergowrie, Balgay Park area, Magdalan Yard, east of Baxter Park, Dawson Park area and almost anywhere in Broughty Ferry.

So nobody in Dundee buys property to let to students, nobody in Dundee has bought property based on what they could afford on an offshore salary?

torbrex

Crashy_Time wrote: »

So nobody in Dundee buys property to let to students, nobody in Dundee has bought property based on what they could afford on an offshore salary?

You are obviously only posting on this thread to look for an argument and you will not get it from me.

I on the other hand am posting on this thread to assist the OP in coming to a decision.

cloo

My advice, as usual, is if you can buy, do, and buy as large a space as you can reasonably afford, then you will have much less to worry about what the market does in the short to medium term, and little in the long term.

Crashy_Time

torbrex wrote: »

You are obviously only posting on this thread to look for an argument and you will not get it from me.

I on the other hand am posting on this thread to assist the OP in coming to a decision.

No, I am posting information relevant to someone looking to buy in Dundee. My question to you was a sensible one, how many people bought BTL`s (around which the tax regime has now changed) to let out to students in Dundee, and how many people in Dundee went offshore and maybe based property decisions on this income being fixed and long term (obvious change there) This is all relevant to where property prices in Dundee could go.

iantojones40

westernpromise wrote: »

Anyone thinking of listening to Crashy's advice should be aware that he has been short property and renting for 20 years. He now needs prices to reduce by about 130%, i.e. for property to become worth less than nothing, for this to have been in hindsight a smart strategy.

More to the point, there has never been a time since 1996 when Crashy thought buying was a good idea. So what are the chances of his being right now?

I'd say his chances of being right now look a bit higher than the chances of some amateur btl wannabee successfully setting up a company to rent their own furniture back to themselves.

Bluebirdman_of_Alcathays

iantojones40 wrote: »

I'd say his chances of being right now look a bit higher than the chances of some amateur btl wannabee successfully setting up a company to rent their own furniture back to themselves.

...but not as high as normal people who don't fret about what the "real" price of a house is, and get on and buy it to live in. Crashys landlord must love him!