For those of you in Scotland....

mitchaa

It appears Scotland is still on the rise;)

http://news.bbc.co.uk/1/hi/scotland/7347203.stm

IveSeenTheLight

mitchaa wrote: »

It appears Scotland is still on the rise;)

http://news.bbc.co.uk/1/hi/scotland/7347203.stm

True, in the are I have property, the last quarter showed an annual HPI of 13%. (according to Nationwide http://www.nationwide.co.uk/hpi/historical/q1_2008.pdf)

However if you look at the information Nationwide provide, it states that in general Scotland has went down by 0.1% in the last quarter.
When you look at the sub regions of Scotland, all show a quarter 1 increase.

Who knows what the prices are doing? Not many
If you are selling, you get what someone is willing / can afford to pay.

lucy2308

I live in West of Scotland and I can assure you nothing is selling.

I know quite a number of people with properties on the Market and they are not shifting. There seems to be quite a lot of people looking however because they cant sell their own properties, they are not putting any offers in.

There is real stagnation with no-one willing to reduce prices therefore I can understand how there is little change in the Scottish market this month.

A number of people have also told me about people putting in offers only to have the mortgage turned down.

However it will come to a crash here soon enough. Scotland has a much lower average wage therefore the Credit Crunch will have a bigger impact here.

Also when sellers get more desparate to sell they will start reducing prices.

Where I live there are a hugh number of rentals available mainly "new" BTL Landlords. They hve now been without tenants for over six months. They have the properties on Rightmove both on the selling and the rental market!!

Wont be long before they are repo'd and this will also push prices down.

Sammz

Aberdeen seems to have properties sitting for much, much longer and I've even seen a flat drop from o/o £99k to o/o £89k. Loads more at fixed price than I've ever seen.

mitchaa

lucy2308 wrote: »

Scotland has a much lower average wage therefore the Credit Crunch will have a bigger impact here.
.

Says whom?

UK average wage £24,908

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

4 major Scottish cities...

Edinburgh.. £28,266
Aberdeen...£26,599
Dundee......£23,090
Glasgow.....£22,968

4 major English cities...

Manchester...£28,738
Birmingham...£23,754
Liverpool......£23.353
Newcastle....£21,887

Capitals...

London......£39,418
Edinburgh...£28,266
Cardiff.......£22,892

Apart from the obvious London, Scottish salaries are equally on a par with their English counterparts.

The much lower average wage comment

lucy2308

Any Stat can be manipulated by pulling out select parts of the data.

However I generalised stating Scotland had a lower average wage which you stats prove

England = £25550

Scotland = £22831

Remember also that these stats are based on average income based on people in work.

What is the average benefit claimants both Jobseekers and Incapcity Benefit. Glasgow I believe has the highest % of sick people per capita of population in the UK.

m00m00

is that a Mean or Median average ?

mitchaa

It gives both in the tables. The median figure for the UK is around £19800

mitchaa

lucy2308 wrote: »

Any Stat can be manipulated by pulling out select parts of the data.

However I generalised stating Scotland had a lower average wage which you stats prove

England = £25550

Scotland = £22831

Remember also that these stats are based on average income based on people in work.

What is the average benefit claimants both Jobseekers and Incapcity Benefit. Glasgow I believe has the highest % of sick people per capita of population in the UK.

England takes into account London salary hence why i used 4 major cities from each country as to take London out of the equation. Hardly fair seeing as the rest of England comes no where near its capital. Ie Manchester vs London

Scots are paid just aswell as their English counterparts (Manchester vs Edinburgh, Aberdeen vs Birmingham etc)

So your point about the earnings ratio compared to that of down south is completely irrelevant.

Oh, i would have thought there are plenty scroungers in Liverpool. Im almost sure Liverpool has more benefit claimants than that of Glasgow.

flugellover

I would agree with Sammz - I am in Fife. Much slower market here, and prices being dropped, changed from o/o to F/P etc. Not sure what to do really - partner and I are thinking of selling current house (2 bed semi) and looking for larger (3 bed detatched) property but difficult to know how things will go. We should be ok for mortgage as should have a big deposit from sale of house, but worried about chains breaking down and ending up with problems.

beecher

Much much slower market in the South side of Glasgow, with many properties going to fixed rate, and then having that fixed rate dropped. Two flats in my street for sale - during the height of the madness they wouldn't have lasted a whole week before being sold, but both are still sitting there. A couple in the area have gone to closing date, and then returned on sale which is a new one on me (thanks property bee )