Scottish property market

edited 30 November -1 at 1:00AM in Scotland
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artisan_2artisan_2 Forumite
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edited 30 November -1 at 1:00AM in Scotland
with the debate surrounding recession/ housing price 'collapse'... etc , how do you think the scottih housing market will hold up or be affected?
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  • FrugaldomFrugaldom Forumite
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    If there's a collapse anywhere in the south, I'd expect to see more and more properties in Scotland being snapped up as the people affected head northwards in search of an 'easier' life. Let's not forget that one can still purchase a small stately mansion with a few acres around these parts and still have change left from the sale of one's London flat. LOL
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  • alanrowellalanrowell Forumite
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    Doesn't look good if you've bought in Edinburgh

    http://news.bbc.co.uk/1/hi/scotland/7097351.stm
  • FrugaldomFrugaldom Forumite
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    alanrowell wrote: »
    Doesn't look good if you've bought in Edinburgh

    Agreed! It's getting as bad as London, apparently. I believe someone in my area has had to sell 2 of their houses here to afford a flat in Edinburgh. I am really beginning to think that once people are on the so-called property ladder then they must get to the point of asking themselves what they can get with their money. Sell a decent flat in the city, buy a smalling mansion with acreage, a holiday bungalow and, possibly, something overseas for winter breaks... must be great :rolleyes:

    PS: Have to say, though, I am not a fan of averaging the prices. For a start, there are houses in our area under £60,000 and there are mansions on the market for over half a million. It's an unfair system and using somewhere like Aberdeen as an example... have you ever lived there? Extremes or what?
    I reserve the right NOT to spend:
    The less I spend, the more I can afford!
  • maggiesoupmaggiesoup Forumite
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    I don't know if I agree with all the fuss. Although I'm no expert, merely bought and sold in Edinburgh half a dozen times, Edinburgh prices have always remained fairly steady. I don't know of anyone personally who has ever lost money buying and selling in Edinburgh so I'm using that as a yardstick to property here always retaining its value regardless of what's happening in the rest of the UK. HAPPY ST ANDREW'S DAY TO US!
  • JAHARVEYJAHARVEY Forumite
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    Although we bought a property in September, we have still been keeping an eye on the local market (Lanarkshire).
    There is definately a difference from six months ago!

    Several properties that we had looked at are back on the market, and there are a number being reduced in asking price.

    Personally I would worry slightly more about selling, but if you are chain free there are definately some bargains to be had.

    Good luck for all those property hunting!

    Julie
  • jackiebjackieb Forumite
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    In our town the prices rose by 69% last year! Probably due to the fact that they weren't so dear in the first place, and people can't afford to buy in Aberdeen anymore. Plus there are a lot more BTL'ers here than there were before. There are hundreds of immigrant worker's and they have to live somewhere. I've seen 2 bedroomed flats for sale here, and when you look at the property details you can see a couple of beds in the livingroom as well.

    Houses are still selling pretty quickly here.

    http://news.scotsman.com/aberdeen.cfm?id=1883752007
  • Edinburgh property seems pretty hard to shift in some areas at the moment, from what I've seen.
  • FrugaldomFrugaldom Forumite
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    I spotted a flat for sale in Lanarkshire at offers over £29,000 so there are still some bargains around. I also spotted a house in Aberdeen for under £70,000. I guess it's all down to the use of 'averages. If 10 houses sell for 50k and then one in the same area sells for 500k, that would make the average close to £91,000 and that's the kind of figure that first time buyers are constantly being faced with. Nobody is very quick at pointing out the bottom and top figures.
    I reserve the right NOT to spend:
    The less I spend, the more I can afford!
  • A house in Aberdeen for under £70000 ? Never. Whereabouts was that then?
    travelover
  • FrugaldomFrugaldom Forumite
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    I reserve the right NOT to spend:
    The less I spend, the more I can afford!
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