Ooops, there go prices in Scotland, too....

mitchaa

beecher wrote: »

I understand the process, but don't need to speak to an EA to know that it isn't always the case, and actually used to be extremely rare. They're only common during times of frenzy. I've bought twice and sold once without going to a closing date. None of my relatives have gone to a closing date, and I can only think of one person I know who has - she bought in Jordanhill where it is insane anyway. EAs often put a note on the details if there's a closing date, and there aren't that many.

Strange, as this is the total opposite of what i have experienced. I know of no-one through friends or family that has made a direct offer like you have described above.

So you're saying when a bid comes in, that bid goes direct to the seller straight away and its their decision there and then if they accept or not??

Just like the English/Welsh style of bidding on a property then?

I would like to see more of this but in my experiences closed bidding systems are completely the norm.

Must be a East/West coast thing. Either that or no-one wants to buy in the gorbals or govanhill area of Glasgow in the 1st place;)

zappahey

mitchaa wrote: »

Strange, as this is the total opposite of what i have experienced. I know of no-one through friends or family that has made a direct offer like you have described above.

So you're saying when a bid comes in, that bid goes direct to the seller straight away and its their decision there and then if they accept or not??

That's been my experience when I've sold in Scotland (twice so far). You see the offer as soon as it comes in and you can either accept it or set a closing date to flush out any other interest.

jennifernil

mitchaa wrote: »

WRONG!!!

National average is no-where near £28,000. As of last year it was £25,000. Dont know where you have got your figures from but i will dig out the official link into salaries.

edited...

Here you go, direct from the government..

http://www.statistics.gov.uk/downloads/theme_labour/ASHE_2007/tab7_7a.xls

THE UK NATIONAL AVERAGE CURRENTLY STANDS AT £24,908

The more important median figure stands at £19,943 (50% under, 50% above for those of you who do not understand the term median)

I Googled it, it came from the GMB website details on average gross annual earnings.

Perhaps "earnings" and "wages" or "salaries" are 2 different things. Earnings would include all overtime, while wages/salaries may just be the basic wage/salary.

Statistics can be made to show many things.

beecher

mitchaa wrote: »

Strange, as this is the total opposite of what i have experienced. I know of no-one through friends or family that has made a direct offer like you have described above.

So you're saying when a bid comes in, that bid goes direct to the seller straight away and its their decision there and then if they accept or not??

Just like the English/Welsh style of bidding on a property then?

I would like to see more of this but in my experiences closed bidding systems are completely the norm.

Must be a East/West coast thing. Either that or no-one wants to buy in the gorbals or govanhill area of Glasgow in the 1st place;)

It isn't like the English system of bidding, as traditionally it is done after survey so you have the valuation information at hand. In the last 2 years or so, there have been more offers subject to survey, but thankfully the single survey will put an end to that. When I sold, I got my first offer and could then decide whether I wanted to put it to a closing date, or accept it. It was a fair offer, so I accepted it, deal done. I then put an offer in for the flat I bought, and had it accepted.

I can assure you that this is the way offers traditionally progress - the problem with the crazy HPI of recent years is that people think it is the norm, when really it is not.

Your Gorbals/Govanhill comment does you no credit.

mitchaa

Like i said beforehand, there are more and more houses advertised with a fixed price so hopefully this will carry on and buck the Scottish trend of OO. I do not like the OO system 1 little bit, its unfair from a buyers perspective as you can overbid on a property quite substantially.

£100k+ 1 bed flats are a bad investment in the 1st place is what i was getting at They deserve to be corrected substantially as i agree with you FTB should easily have 1 bed flats in their sites at the very least.

mitchaa

jennifernil wrote: »

I Googled it, it came from the GMB website details on average gross annual earnings.

Perhaps "earnings" and "wages" or "salaries" are 2 different things. Earnings would include all overtime, while wages/salaries may just be the basic wage/salary.

Statistics can be made to show many things.

Doubt it, it's generally accepted that the average salary in the UK is £25,000. My link direct from government website proves so. A quick google brings up lots more info form £24-26k

It wont be at £28k for a good few years yet.

beecher

mitchaa wrote: »

£100k+ 1 bed flats are a bad investment in the 1st place is what i was getting at They deserve to be corrected substantially as i agree with you FTB should easily have 1 bed flats in their sites at the very least.

I didn't buy my 1 bed flat as an 'investment'. I bought it as somewhere to live.

You can't just substantially correct the price of 1 bed flats, and expect the rest of the housing market not to be affected. If my 1 bed flat is to be worth £75,000, then a 2 bed terrace would be worth £85,000, etc. There seems to be a tendency to believe that a crash in prices will impact on everyone apart from the individual posting - believe me, if 1 bed flats are 'corrected substantially' so will your house, no matter where you live. Aberdeen certainly isn't immune!

mitchaa

Beecher, i would suspect a £130k 1 bed flat in Glasgow to be a ''luxury modern apartment'' probably new in build in a newly developed area?

There are plenty 1 bed flats in the rougher areas that can be bought for £60-70k and in the even rougher areas £25-35k.

There's a difference between a 1 bed flat in the gorbals area of Glasgow than say a 1 bed city centre flat. The lower end properties dont need a correction, but £130-150k 1 bed city pads do.

I understand if the ar*e end falls out the market it has a knock on effect, but generally 1bed/2bed flats are still fairly cheap and reasonably priced in all of Scotlands towns and cities. The fact of the matter is where its located, i.e gorbals vs city centre.

My gorbals comment was made in jest, hence the Sense of humour

beecher

mitchaa wrote: »

Beecher, i would suspect a £130k 1 bed flat in Glasgow to be a ''luxury modern apartment'' probably new in build in a newly developed area?

There are plenty 1 bed flats in the rougher areas that can be bought for £60-70k and in the even rougher areas £25-35k.

There's a difference between a 1 bed flat in the gorbals area of Glasgow than say a 1 bed city centre flat. The lower end properties dont need a correction, but £130-150k 1 bed city pads do.

I understand if the ar*e end falls out the market it has a knock on effect, but generally 1bed/2bed flats are still fairly cheap and reasonably priced in all of Scotlands towns and cities. The fact of the matter is where its located, i.e gorbals vs city centre.

My gorbals comment was made in jest, hence the Sense of humour

No, a traditional tenement in Shawlands. A flat in my close went for £148,000 last year - mental beyond belief. They're a fair size compared to other 1 beds in Glasgow, but still. I don't agree that flats are reasonably priced at all - 10 years ago 3x average salary got you a 1 bed flat in a decent area, and now it gets you a tiny flat in a rough area. I wouldn't have a hope in affording my first tiny flat if I was starting off as a FTB now and that situation isn't sustainable.

Time will tell but I believe all prices are coming down, and fast.

jennifernil

mitchaa wrote: »

Doubt it, it's generally accepted that the average salary in the UK is £25,000. My link direct from government website proves so. A quick google brings up lots more info form £24-26k

It wont be at £28k for a good few years yet.

Those statistics are difficult to figure out, there is a lack of information on the link you give as to exactly what is included. And I have better things to do than look at it for hours!

But I have deduced that there is a difference between wages/salary and gross earnings. And that lots of people are receiving bonuses, which bumps up gross earnings.