House Prices Down 10.5%

[AlfredJPruffock]

Poperty prices in Scotland still increased by 3.5 per cent - and that is despite a reduction in volume of mortgages.

Crises - what crises ?

[DimPrawn]

Poperty prices in Scotland still increased by 3.5 per cent - and that is despite a reduction in volume of mortgages.

Crises - what crises ?

I think you'll find Scottish prices lag the SE of England. Late in catching the boom and last to feel the bust.

If I held Scottish property, I'd sell it now. Soon it's going to fall up there, and you've still got a chance to turn a buck at the peak.

HTH

[AlfredJPruffock]

I think you'll find Scottish prices lag the SE of England. Late in catching the boom and last to feel the bust.

If I held Scottish property, I'd sell it now. Soon it's going to fall up there, and you've still got a chance to turn a buck at the peak.

HTH

Au contraire , prices in Scotland (with the exception of Edinburgh) have had a far more modest increase in prices rather than the 'boom' experienced by the South - hence the softer landing.

Hence Mortgage repayments are substanially lower given the lower price of property as compared to the South.

In the long term, property ownership in Scotland represents a good and sensible investment , oh and your own wee place to live in !

All the same if you really want to make money in a more speculative fashion there;s always the Casino - or IT contracting ? !!

[tim123]

Agreed.

It's not the interest rate that's killing 1st time buyers it's having to stump up 30 or 40% deposit

Yep.

Even when the Banks do start lending again, they aren't likely to be giving 100% loans in a hurry.

The people expecting the market to go back up when the loan tap is turned back on again are living in Wonderland.

tim

[Shimano105]

Different this time, eh Alfred?