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Scottish house prices will continue to fall



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Published Date: 05 September 2008
By EMILY PYKETT
ANALYSTS yesterday sent out fresh warnings to homeowners in Scotland to brace themselves for a further drop in prices.
UK homes lost nearly 13 per cent of their value during the past year as prices continued to slide at a record rate, according to a new survey.

Britain's biggest mortgage lender, Halifax, said the cost of a home dropped by a further 1.8 per cent during August to leave the average property price at £174,178 – a record 12.7 per cent less than in the same month last year.

Annual house price inflation, measuring the previous three months compared with the same period a year ago, also dropped to a new record low, with falls of 10.9 per cent.

Martin Ellis, Halifax chief economist, told The Scotsman: " In Scotland the market is better placed to weather the storm.

"But we reported a fall in the second quarter and we expect house prices to continue to decline for some time."




The full article contains 169 words and appears in The Scotsman newspaper.
Page 1 of 1

 
1

Plodjfriss, Hammer of the Numpties,

Edinburgh 05/09/2008 08:20:23
In January of this year Martin Ellis said

"Sound economic fundamentals and lower interest rates will support house prices in 2008."

Now we hear that house prices have fallen by 13% in the space of a year. Nice one, Mr. Chief Economist.
2

JG,

Fife 05/09/2008 08:40:53
Did anyone actually believe the estate agents when they said that Scotland wouldn't be affected by the 'credit crunch'?
3

ccc,

05/09/2008 10:17:34
#1 Quite right.

Also remember the 'experts' at the ESPC were predicting 3-6% growth in the Eidnburgh market this year. It is already 6%.......Just in the opposite direction !!

It really does tell you everything - when you can get better economic advice from random comments on this site than the Chief Economist at one of the World's largest banks.

Unless of course they know the score and are simply lying to the masses. Either way not very trustworthy !!
4

edinburghiscommon,

05/09/2008 10:55:44
CCC - always remember that with people of the like of easy moron, the landlord and co - NEVER UNDERESTIMATE THE POWER OF DENIAL...
5

easy money,

brazil 20/09/2008 21:31:00
i see the usual bitter tennents deluding each other as they havent got a bean to rub together and their only hope is to ask for something for nothing....to have no ambition is pitiful

re the figures its all skewed by the new build 2 bed flats that were vastly over priced anyway....anyone who bought new build in the last 5 years needs their head examined...

the next property bubble has already started....

in 2010 we'll have lower interest rates, more liquidity and a lot of pent up demand from the deluded FTB's who hoped to rent things out....

they will be facing a rising market and higher prices...., someones got to take the pain and in the meantime i see rents are going up even higher - happy days.....poor FTB's will they ever get their heads round the fact that there is never going to be any bargains in Edinburgh....

lets see what we can get for over £100k???

135 Pilton Avenue
Pilton, EH5 2HP Offers Over £105,000 Super lower villa flat well positioned overlooking Pilton Park, immaculately presented throughout. Hall, lounge, fitted kitchen/appliances, 2 spacious double bedrooms

thats a nice one....

and here's another,

26a Niddrie Mill Crescent
Niddrie, EH15 3EU Fixed Price £105,000 Ideal first time buy. Spacious and tastefully presented ground floor flat in popular area, close to Fort Kinnaird/City Bypass. Hall, lounge, fitted kitchen, 2 double bedrooms, bathroom/shower. Double Glazing/Gas Central Heating. Large priva...drug dealers & thugs outside your house every night threatening to kill you....

FTB's - take your pick - Niddrie, Muirhouse, Pilton....its over £100k just to get your foot on the ladder....such a quandry....

in 2018 a one bed flat in Edinburgh will be £200k
6

Lord_S,

Brazil 21/09/2008 10:19:19
"someones got to take the pain": Yes, idiots like you will be taking the pain.

Time to grow up or shut up. Do you not pay attention to anything going on around you? Don't you read the news? You really think prices will rise with the current economic conditions?

You NEED help before your mental health deteriorates further!

 

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