LBTT in Scotland

Wkmg

Crashy_Time said:

Wkmg said:

davidmcn said:

Wkmg said:

Was just looking at their tax. It's already huge compared to England (at my end of the market anyway. Even without the English tax cut I'd be paying about twice as much in Scotland.

Bear in mind the difference in average property prices though between Scotland and SE England at least - if you're spending say £500k in Scotland you're beyond "normal" territory and into "member of the 1%".

You say that but I used to live in Edinburgh (18 months ago)  and it's quite easy to spend £1,000,000 there if you want to live in a popular part of town like Stockbridge. I know it's not London prices but it is comparable to some Southern English cities. I also used to live in Aberdeen during oil (about 6 years ago) and prices then were insanely high. I was renting at the time and moved from Brighton to Aberdeen. Flats were similar prices. Not sure about now.

Wkmg said:

davidmcn said:

Wkmg said:

Was just looking at their tax. It's already huge compared to England (at my end of the market anyway. Even without the English tax cut I'd be paying about twice as much in Scotland.

Bear in mind the difference in average property prices though between Scotland and SE England at least - if you're spending say £500k in Scotland you're beyond "normal" territory and into "member of the 1%".

You say that but I used to live in Edinburgh (18 months ago)  and it's quite easy to spend £1,000,000 there if you want to live in a popular part of town like Stockbridge. I know it's not London prices but it is comparable to some Southern English cities. I also used to live in Aberdeen during oil (about 6 years ago) and prices then were insanely high. I was renting at the time and moved from Brighton to Aberdeen. Flats were similar prices. Not sure about now.

You could get an overpriced one bed in Stockbridge for 200k if you really need to be in that area, but like all "top" postcodes Stockbridge and Comely Bank are massively overrated, it is just basically tenement flats with the odd expensive house scattered about.

Comely Bank is nothing to write home about but Stockbridge is full of beautiful houses, not tenements. It was grotty 30 years ago but it a wonderful place to live now.

davidmcn

Crashy_Time said:

davidmcn said:

Wkmg said:

Was just looking at their tax. It's already huge compared to England (at my end of the market anyway. Even without the English tax cut I'd be paying about twice as much in Scotland.

Bear in mind the difference in average property prices though between Scotland and SE England at least - if you're spending say £500k in Scotland you're beyond "normal" territory and into "member of the 1%".

Obviously you are joking?

Not sure in what way you mean. Just taking a vaguely educated stab at it, if you consider the proportion of the housing stock which is worth over £500k (which is only going to be the top few percent) and the demographics of house buyers.

Crashy_Time

Wkmg said:

Crashy_Time said:

Wkmg said:

davidmcn said:

Wkmg said:

Was just looking at their tax. It's already huge compared to England (at my end of the market anyway. Even without the English tax cut I'd be paying about twice as much in Scotland.

Bear in mind the difference in average property prices though between Scotland and SE England at least - if you're spending say £500k in Scotland you're beyond "normal" territory and into "member of the 1%".

You say that but I used to live in Edinburgh (18 months ago)  and it's quite easy to spend £1,000,000 there if you want to live in a popular part of town like Stockbridge. I know it's not London prices but it is comparable to some Southern English cities. I also used to live in Aberdeen during oil (about 6 years ago) and prices then were insanely high. I was renting at the time and moved from Brighton to Aberdeen. Flats were similar prices. Not sure about now.

Wkmg said:

davidmcn said:

Wkmg said:

Was just looking at their tax. It's already huge compared to England (at my end of the market anyway. Even without the English tax cut I'd be paying about twice as much in Scotland.

Bear in mind the difference in average property prices though between Scotland and SE England at least - if you're spending say £500k in Scotland you're beyond "normal" territory and into "member of the 1%".

You say that but I used to live in Edinburgh (18 months ago)  and it's quite easy to spend £1,000,000 there if you want to live in a popular part of town like Stockbridge. I know it's not London prices but it is comparable to some Southern English cities. I also used to live in Aberdeen during oil (about 6 years ago) and prices then were insanely high. I was renting at the time and moved from Brighton to Aberdeen. Flats were similar prices. Not sure about now.

You could get an overpriced one bed in Stockbridge for 200k if you really need to be in that area, but like all "top" postcodes Stockbridge and Comely Bank are massively overrated, it is just basically tenement flats with the odd expensive house scattered about.

Comely Bank is nothing to write home about but Stockbridge is full of beautiful houses, not tenements. It was grotty 30 years ago but it a wonderful place to live now.

Like these beauties?
https://espc.com/property/99-flat-5-henderson-row-stockbridge-edinburgh-eh3-5bb/35536191
I think you are confused about the area, and the point I was making, also the substantial houses you talk of were in many cases built in the 1800`s, and the area has never really been considered "grotty" it is just that with the housing bubble "good postcodes" such as Stockbridge (It is right on the edge of the New Town don`t you know!) became inflated with silly valuations, even for basic flats, hence my observation that the area is overrated, and that is based on living there as well.

Crashy_Time

davidmcn said:

Crashy_Time said:

davidmcn said:

Wkmg said:

Was just looking at their tax. It's already huge compared to England (at my end of the market anyway. Even without the English tax cut I'd be paying about twice as much in Scotland.

Bear in mind the difference in average property prices though between Scotland and SE England at least - if you're spending say £500k in Scotland you're beyond "normal" territory and into "member of the 1%".

Obviously you are joking?

Not sure in what way you mean. Just taking a vaguely educated stab at it, if you consider the proportion of the housing stock which is worth over £500k (which is only going to be the top few percent) and the demographics of house buyers.

Can you post up some stats to confirm this? You did say member of the 1%, which I rightly pointed out was a ludicrous observation on a city like Edinburgh which was one of the biggest property bubbles in the UK at the peak of the madness. I know of care workers who bought new-builds for 450k (That is a couple both with some equity and savings plus loans from family and a high LTV mortgage) and some "executive" flats in well dodgy areas were going for 400-500k at peak madness (The developers hoped the folks from London working at RBS would think it was a bargain)