Are house prices falling where you are?

deemy2004

Ember999 wrote:

Your money in a Scottish property is safe, it can only go up. England? well...in my opinion, it can only come down as it is being seen to do.

When the oil wells run dry.. the prices will fall.

margaret_3

No! As usual you're not right. :rolleyes:
This was such a pleasant and interesting thread until YOU came along.
I don't know what has made you so bitter but you manage to spoil any thread that has to do with house-buying. Little wonder that folks stop posting when you make an appearance.
Could you please try to be a bit more pleasant?

Ember999

meanmachine wrote:

I think you'll be eating your words by the end of next year.

No one can be certain about anything, and to give out such advice is surely foolhardy.

I'd love to see how affordability rates compare in Scotland today compared to the last crash in 1989. You're probably right that, back then, prices weren't so stupid. But let's look at the wage to price ratio in 2005.

EDIT: A very quick check on rightmove shows me that a new 4 bedroom home in Aberdeen is currently on the market for £200K. I'm guessing the average wage in Aberdeen is around 50K. Am I right? If not, then you're heading for a crash.

Your average First Time buyer doesn't buy a 4 bedroom house that you have noted to be selling at 200K do they? This property you are talking about would be more suited to a second/third time buyer who will have equity in their existing property to use towards that 200k price.

Yes, salaries are lower in Scotland but so are prices. That 200K house in the region of the Uk I am in now would go for around 275k so obviously prices are more affordable in Scotland.

No, you are wrong, I am giving good advice. Property in Scotland has never crashed downwards and never will . These facts are available from Surveyors all over Scotland should you wish to ask. I would think they would know as they value property, compare properties for sale with SOLD properties and have figures going back donkey's years.

Over the next few years, the only thing I see (and all the specialists see) are property prices maybe staying the same, they certainly won't go down!

My advice stands.

Ember999

Pheno wrote:

Hmm I wonder where I've heard that before... oh that's right - it was in the SE

The South East of England is totally different to Scotland!

Sujamjen

This thread seems to be mainly about Scotland (lovely place ) but prices here in Coventry seem to have stopped rising as steeply as they were last year. Houses at the £250,000+ seems more or less what they were 12 months ago and at the other end £120,000+ have risen about .5% - 1% , properties under £120,000 seem fairly static - which I suppose is natural being as that is the stamp duty level

Ember999

moh877 wrote:

I totally agree those who want proof go to
Paragon Spreadsheet Download
Download the Excel spreadsheet.

Within this spreadsheet in the region box enter
6-Scotland
3-Greater London
the Nationwide graph for "Quarterly Indices since 1985" will be displayed for Scotland than Greater London respectively. The comparison is marked. Scotland displays little signs of having suffered from the 1989 crash which so clearly afflicts London.

Watch out for a mad rush of South East BTLs :shhh:

Thank You for that spreadsheet hon, I just downloaded and analysed the data....very interesting...interesting in that it proves I am right

Pheno

It's always amusing to hear people talk about absolute truths. Unfortunately there are very few in life, and when it comes to investment there are none.

Imagine there is an asset which has always gone up in the past. People will look at the at it and say "wow X investment is guaranteed to go up, look at the graphs". You then get investment in that asset group purely because of this argument. This is above and beyond the fundamental reasons which led to that asset group doing well in the past. The extra demand pushes prices above fundamentals (which incidently reinforces the arguments that this asset never goes down).

This is precisely how rational bubbles form, and rational bubbles do not last. Whether scotland won't see falls this time I don't know and nor does anyone else on this forum. One thing's for certain: history definitely can't be used to prove anything

deemy2004

margaret wrote:

No! As usual you're not right. :rolleyes:
This was such a pleasant and interesting thread until YOU came along.
I don't know what has made you so bitter but you manage to spoil any thread that has to do with house-buying. Little wonder that folks stop posting when you make an appearance.
Could you please try to be a bit more pleasant?

Bitter ?

Britains oil production has passed its peak and now each year less oil is produced from the North sea than before .. Thus one of the biggest providers of income and economic activity to Scotland to the tune of some £10 billions per year is running out ! In total this has provided scotland with a bonus of some £120 billions since 1975..

So you think its not important to factor that into house prices in scotland ?

:rolleyes:

Spendless

deemy2004 wrote:

Bitter ?

Britains oil production has passed its peak and now each year less oil is produced from the North sea than before .. Thus one of the biggest providers of income and economic activity to Scotland to the tune of some £10 billions per year is running out ! In total this has provided scotland with a bonus of some £120 billions since 1975..

So you think its not important to factor that into house prices in scotland ?

:rolleyes:

Perhaps you should stick to what the thread is all about rather than showing prejudices that are perhaps from non related threads

Deemy was Margaret meaning your post- I wasn't sure, but as to bitter hmmm I remember refusal to pay an extra £1,000 has cost you a lot (just teasing you deemy).

Anyway- what are house prices doing near you deemy as I know you're not that far away from me.

margaret_3

Oh no! I didn't mean Deemy. I LIKE Deemy!:p
I was answering meanmachine!