Grunton Harbour Flats

[Italian Lambretta]

I did a lock-out in one of the flats in Western Harbour a couple of months back.

It was late on a Sat night and the place was bustling to put it mildly. Very loud music, people hanging out their windows shouting at each other and lots of dodgy looking Eastern European and African characters hanging around the entrances to the flats.

I almost did a u -turn and decide to give the job a miss. As it turned out the customer who was locked out turned out to be a high class escort.

Very interesting indeed:)

 

Anyhow putting her occupation aside, she tells me that most of the flats are owned or rented by Criminals, Prostitutes and Drug Dealers.

 

So maybe this is why the prices have fallen rapidly.

 

Oh - and she gave me an excellent tip for letting her in.

[Mr Loverman]

I did a lock-out in one of the flats in Western Harbour a couple of months back.

It was late on a Sat night and the place was bustling to put it mildly. Very loud music, people hanging out their windows shouting at each other and lots of dodgy looking Eastern European and African characters hanging around the entrances to the flats.

I almost did a u -turn and decide to give the job a miss. As it turned out the customer who was locked out turned out to be a high class escort.

Very interesting indeed:)

 

Anyhow putting her occupation aside, she tells me that most of the flats are owned or rented by Criminals, Prostitutes and Drug Dealers.

 

So maybe this is why the prices have fallen rapidly.

 

Oh - and she gave me an excellent tip for letting her in.

 

How did you know she was a high class escort?

[bighusref]

The sales office at Grunton harbour resembles the scene at the beginning of the Indiana Jones movie, where Indie had to fight his way through the spiders webs with a sword, its been so long since anyone was in the place, there is a good chance you will find Lord Lucan hiding in there, you could not get a safer place where no one will find you.

 

As for the prices on there web site gee whiss Copper WTF have you seen the prices, they are having a laugh.

 

The building site is a ghost town, how long till they go bust, it must be near now.?

 

I asked earlier, but which sales office? Granton, or Western Harbour?

 

AND, which building site?

 

See, I was out and about today and it looked nothing like you described. Did a Bryants man sleep with your missus?

[The Mighty Thor]

Not strictly related to the Granton development but i've just heard that one of the developers at platinum point Newhaven will go bust this week. They have several unfinished sites in Edinburgh.

[coppercrutch]

Not strictly related to the Granton development but i've just heard that one of the developers at platinum point Newhaven will go bust this week. They have several unfinished sites in Edinburgh.

 

But it's ok now - Broon is here to the rescue.

[The Mighty Thor]

But it's ok now - Broon is here to the rescue.

 

I'm sure that's a crumb of comfort for my mate who will probably get no redundancy.

 

I told him to lighten up, he owns 63% of the RBS after all!

[Bigsmak]

Was down in the Archerfield complex today and had a look at some of the houses they have for sale there. Some of them are amazing, mansions to be honest. Most are still for sale and there was a lot of builders still working on them. I would love a house like these ones. Need about a million though.

 

Can't see them selling soon though!

[coppercrutch]

I'm sure that's a crumb of comfort for my mate who will probably get no redundancy.

 

I told him to lighten up, he owns 63% of the RBS after all!

 

So what's that ?

 

?4.60 ?

 

I may buy a bank next week. Just deciding which one to go for.

[The Mighty Thor]

So what's that ?

 

?4.60 ?

 

I may buy a bank next week. Just deciding which one to go for.

 

I know we're being glib but to be honest mate there's a few horror stories to come out of this one!

[coppercrutch]

I know we're being glib but to be honest mate there's a few horror stories to come out of this one!

 

Sure are. Already happening. I know of a number of people who have been banking (Pardon the pun) on saved up bank shares to retire next year. This is now probably off for the next decade.

 

As for your building story give us some more nuggets....

 

Go on !!

[jambos are go!]

As I understand it most people are managing to pay there mortgages and whilst repossesions have risen its still a very rare occurence. There seems to be a perception that every mortgage is at risk. Thats nonsense most folk have mortgages that account for a lot less than 100% of its value even after price falls . That's not toxic debt.

 

As I said yesterday if you can get a just affordable bargain you should be thinking seriously about taking it before the market turns or steadies. The chance may not come again. A home is a asset in much more than financial terms. And if you end up on welfare you'll get most of your housing costs covered whether your in a bungalow or a basement. You'll be poorer but more comfortable

[coppercrutch]

As I understand it most people are managing to pay there mortgages and whilst repossesions have risen its still a very rare occurence. There seems to be a perception that every mortgage is at risk. Thats nonsense most folk have mortgages that account for a lot less than 100% of its value even after price falls . That's not toxic debt.

 

As I said yesterday if you can get a just affordable bargain you should be thinking seriously about taking it before the market turns or steadies. The chance may not come again. A home is a asset in much more than financial terms. And if you end up on welfare you'll get most of your housing costs covered whether your in a bungalow or a basement. You'll be poorer but more comfortable

 

Can you please explain this ? I hear this a lot. I still don't understand.

 

Is the future of the UK such that house prices will now be grossly expensive, always and forever, and never ever be remotely affordable ever again ?

 

I would say the chances of this are about 20-1, in all seriousness.

[davemclaren]

Can you please explain this ? I hear this a lot. I still don't understand.

 

Is the future of the UK such that house prices will now be grossly expensive, always and forever, and never ever be remotely affordable ever again ?

 

I would say the chances of this are about 20-1, in all seriousness.

 

House prices wile be driven by people's ability to borrow and also their 'aspirations'. I think both of these have taken a substantial knock recently but I'm not convinced house prices will drop to the levels you have been predicting. Especially as the govt seem to be encouraging banks to lend again.

[coppercrutch]

House prices wile be driven by people's ability to borrow and also their 'aspirations'. I think both of these have taken a substantial knock recently but I'm not convinced house prices will drop to the levels you have been predicting. Especially as the govt seem to be encouraging banks to lend again.

 

Serious question why ?

 

I am simply predicting a drop to long term averages when compared to income.

 

Question for you:

 

Do you believe that house prices will never ever, in the history of the World, never ever in Edinburgh, never ever, ever, ever, in any time in the future, ever ever will be remotely affordable and fit the long term average ever ever ever , ever ever ever again.

 

If your answer to that question is "No of course I ****ing don't !! "

 

..............................................Then you agree with me.

[jambos are go!]

Can you please explain this ? I hear this a lot. I still don't understand.

 

Is the future of the UK such that house prices will now be grossly expensive, always and forever, and never ever be remotely affordable ever again ?

 

I would say the chances of this are about 20-1, in all seriousness.

 

I hope we will return to sanity. But at present with panic prevailing buyers have all the cards. There will always be people who want to move for a variety of reasons. Some desperate plus those also desperate to cash in on an inherited property.

 

So when the market stabilises( at any cost level )panic selling will decline rapidly . So if you want to move from say Broomhouse to Baberton or Colinton Mains to Craiglockart you could at this time and for a short period afterwards be one of the few buyers in town and get a real bargain.

[coppercrutch]

I hope we will return to sanity. But at present with panic prevailing buyers have all the cards. There will always be people who want to move for a variety of reasons. Some desperate plus those also desperate to cash in on an inherited property.

 

So when the market stabilises( at any cost level )panic selling will decline rapidly . So if you want to move from say Broomhouse to Baberton or Colinton Mains to Craiglockart you could at this time and for a short period afterwards be one of the few buyers in town and get a real bargain.

 

So who is going to buy your house for the money you want....because unless you get incredibly lucky you are not going to be able to go through with this plan are you....

 

You've not thought this through well have you !!

 

Wait till house prices fall. Moving to a nicer house in a nicer area will be easier across the board. For everyone.

 

Very simple logic that the vested interests in the media have dulled down over the years. It is my duty to educate the masses again !!

[jambos are go!]

So who is going to buy your house for the money you want....because unless you get incredibly lucky you are not going to be able to go through with this plan are you....

 

You've not thought this through well have you !!

 

Wait till house prices fall. Moving to a nicer house in a nicer area will be easier across the board. For everyone.

 

Very simple logic that the vested interests in the media have dulled down over the years. It is my duty to educate the masses again !!

 

Well there are a few posters on here saying they have sold their houses. Take the short term pain of getting say ?20k less for your house if you save ?40k on the one you buy. Budget for an extended selling process. Dont be silly but go to the limits of affordability - particularly if you can spot a bargain.

[Miller Jambo 60]

Good, I ken a boy that stays in one of they flats and hes a tosser

 

Snap mate who the **** pays 300 grand for a 1 bed flat

[coppercrutch]

Well there are a few posters on here saying they have sold their houses. Take the short term pain of getting say ?20k less for your house if you save ?40k on the one you buy. Budget for an extended selling process. Dont be silly but go to the limits of affordability - particularly if you can spot a bargain.

 

Ok lets take an example.

 

Flat you have is 150k.

You want to buy a house currently at 300k.

 

Difference = 150k.

 

You sell your flat for 130k. Take the hit. You buy the house for 260k. They have taken the hit.

 

Difference = 130k.

 

------------------------------------------------------------------

 

Other option. Wait till houses come down to long term averages.

 

Flat you have is 75k

You want to buy a house costing 150k.

 

Difference = 75k

 

------------------------------------------------------------------

 

Once somebody points out these simple figures it all becomes very clear what is the better scenario for the vast majority fo people wanting a house - LOWER PRICES !!

 

Now I am not saying there is anything wrong with the original plan you explain. If somebody wants to move now and has the money and can afford it long term then fine. However it is not the best plan. The idea that this may be a 'once in a lifetime' opportunity is very unlikely to be true. In fact it is about as unlikely to occur as the idea that house prices would continue to rise forever...

 

The one greatest myth that this whole period has exposed is the 'profit' that people have 'made' on their homes. Most will never see this profit. They will simply shove it into the larger house they move into that is even more expensive proportionaly than the first one. Everyone is simply getting shafted to pay over the odds for something that should be half the price. They get sucked into this because there is a false impression of 'wealth' that is portrayed. They think they are rich. Most are actually skint.

 

How many people out there have 'made' a fortune on their home, and yet still struggle to pay for a holiday or go out at the weekend ? For most people it is simply an illusion of wealth. I think gradually more are accepting this. However it has been so ingrained into the British psyche that it will take some time.

 

Still - better late than never.

[Coco]

There have been plenty of posts in the past on KB which made predictions that house prices in Edinburgh would not fall due to the unique strengths of the Edinburgh economy.

 

Some of those seemed to be made by people who suggested that they had property portfolios. Are any of them willing to step in now to get a bargain?

[Radio Ga Ga]

Have just heard that one of the Developers at Western Harbour have this afternoon gone into Administration

[footieman]

Have just heard that one of the Developers at Western Harbour have this afternoon gone into Administration

 

Can I ask who?

[Radio Ga Ga]

Can I ask who?

 

Gregor Shore

[footieman]

Gregor Shore

 

Is that the same group as Gregor Properties?

[Radio Ga Ga]

Is that the same group as Gregor Properties?

 

Unsure Mate

 

Just know that a pile of tradesmen got sent home when they turned up for work this morning, rumour has it they don't even have enough money to pay their already worked for wages...

[jambos are go!]

Ok lets take an example.

 

Flat you have is 150k.

You want to buy a house currently at 300k.

 

Difference = 150k.

 

You sell your flat for 130k. Take the hit. You buy the house for 260k. They have taken the hit.

 

Difference = 130k.

 

------------------------------------------------------------------

 

Other option. Wait till houses come down to long term averages.

 

Flat you have is 75k

You want to buy a house costing 150k.

 

Difference = 75k

 

------------------------------------------------------------------

 

Once somebody points out these simple figures it all becomes very clear what is the better scenario for the vast majority fo people wanting a house - LOWER PRICES !!

 

Now I am not saying there is anything wrong with the original plan you explain. If somebody wants to move now and has the money and can afford it long term then fine. However it is not the best plan. The idea that this may be a 'once in a lifetime' opportunity is very unlikely to be true. In fact it is about as unlikely to occur as the idea that house prices would continue to rise forever...

 

The one greatest myth that this whole period has exposed is the 'profit' that people have 'made' on their homes. Most will never see this profit. They will simply shove it into the larger house they move into that is even more expensive proportionaly than the first one. Everyone is simply getting shafted to pay over the odds for something that should be half the price. They get sucked into this because there is a false impression of 'wealth' that is portrayed. They think they are rich. Most are actually skint.

 

How many people out there have 'made' a fortune on their home, and yet still struggle to pay for a holiday or go out at the weekend ? For most people it is simply an illusion of wealth. I think gradually more are accepting this. However it has been so ingrained into the British psyche that it will take some time.

 

Still - better late than never.

 

Well I live in a mortgage free Bungalow and plan to downsize in a few years and grow old in style. The difference between us seems to be that you want folk to wait for the bottom then buy/sell. It will be a pretty big queue then and you might not get what you want. You also seem to think/prices will collapse - I Dont. Waiting for the deep bottom in house prices is like Bank shareholders waiting for the ultimate high in share price. Timing is everything if you want to cash in.

[The Mighty Thor]

Unsure Mate

 

Just know that a pile of tradesmen got sent home when they turned up for work this morning, rumour has it they don't even have enough money to pay their already worked for wages...

 

Correct. I understand that to be the case.

[coppercrutch]

Well I live in a mortgage free Bungalow and plan to downsize in a few years and grow old in style. The difference between us seems to be that you want folk to wait for the bottom then buy/sell. It will be a pretty big queue then and you might not get what you want. You also seem to think/prices will collapse - I Dont. Waiting for the deep bottom in house prices is like Bank shareholders waiting for the ultimate high in share price. Timing is everything if you want to cash in.

 

Aha !! So now I understand. After looking at my calculations you will no doubt agree there is one group of people who want house prices to remain high - those planning on downsizing soon and using the cash gained from the difference. For someone in that situation high house prices are better. Due to the difference in price being larger - and ultimately the cash you get in your pocket being larger.

 

Well I have to say this is a fairly selfish attitude to have. I do understand where you are coming from. You want the best for yourself. Don't we all. However expecting the next generation to continue buying houses at overinflated prices - simply to put cash in your pocket ? Not a great thing you must agree ?

 

You are right when you say timing is everything if you want to cash in. Sorry to say but you have missed the boat if you plan to 'cash in' fully on your home at peak values.

 

The time to do this was early to mid 2007. I did tell everyone I know at the time. Anyone who bothered to listen would have been quids in.

 

I think you simply don't WANT prices to collapse. Very different from not THINKING they will collapse. It has started already. If you read anything about trends, analysis, long term figures etc? you will know the likelyhood that house prices won't collapse is very slim indeed.

 

My advice would be to downsize now. Take a wee hit. Otherwise you could be looking at a drop of 50% from your expectations.

 

I don't know where you live or what your house is like. However if it is bungalow in Ednburgh then it was about 50% overpriced last summer compared to long term trends and averages.

 

Maybe I am wrong and those long term trends are gone forever. However that is highly unlikely.

 

When it comes to house prices in Edinburgh I have been pretty good so far.

 

Your gamble though. Either way you have a home to live in that is mortgage free and is your own. Nice one.

 

That should be the most important thing.

[Munch]

Sure are. Already happening. I know of a number of people who have been banking (Pardon the pun) on saved up bank shares to retire next year. This is now probably off for the next decade.

 

As for your building story give us some more nuggets....

 

Go on !!

 

it is gregor shore who are goimg belly up, i heard this last week.

[GRL1969]

How mad is this ?

At Western Harbour, Gregor Shore go tits up. Barratt have mothballed over half of plot Q.

CBC are kicking off a new development next week...go figure.

[Munch]

How mad is this ?

At Western Harbour, Gregor Shore go tits up. Barratt have mothballed over half of plot Q.

CBC are kicking off a new development next week...go figure.

 

The building sites down there will be a ghost town by the end of the year, whats the point in trying to sell flats at 300k + when you can buy them on the open market for 150k.

 

The Glasgow property auction is on Thursday there are loads getting flogged of, the question is will a new low price be set 150 is the cheapest to date id guess 140 for a 2 bed is on the cards, log on to Bryant's web site they are selling the same units at 250+.

 

You don't need to be Einstein to figure out the builders party is well and truly over.

[GRL1969]

Your telling me the partys over. Ive got ?35k sitting out on retention on one of these developments. Well no me personally but the company i work for.

 

No sure how true it is but i was told some guy walked into the sales office at Granton and offered ?1m for 10 flats and they bit his hand off. Each flat was ?250k 6 months ago.

[jambos are go!]

Aha !! So now I understand. After looking at my calculations you will no doubt agree there is one group of people who want house prices to remain high - those planning on downsizing soon and using the cash gained from the difference. For someone in that situation high house prices are better. Due to the difference in price being larger - and ultimately the cash you get in your pocket being larger.

 

Well I have to say this is a fairly selfish attitude to have. I do understand where you are coming from. You want the best for yourself. Don't we all. However expecting the next generation to continue buying houses at overinflated prices - simply to put cash in your pocket ? Not a great thing you must agree ?

 

You are right when you say timing is everything if you want to cash in. Sorry to say but you have missed the boat if you plan to 'cash in' fully on your home at peak values.

 

The time to do this was early to mid 2007. I did tell everyone I know at the time. Anyone who bothered to listen would have been quids in.

 

I think you simply don't WANT prices to collapse. Very different from not THINKING they will collapse. It has started already. If you read anything about trends, analysis, long term figures etc? you will know the likelyhood that house prices won't collapse is very slim indeed.

 

My advice would be to downsize now. Take a wee hit. Otherwise you could be looking at a drop of 50% from your expectations.

 

I don't know where you live or what your house is like. However if it is bungalow in Ednburgh then it was about 50% overpriced last summer compared to long term trends and averages.

 

Maybe I am wrong and those long term trends are gone forever. However that is highly unlikely.

 

When it comes to house prices in Edinburgh I have been pretty good so far.

 

Your gamble though. Either way you have a home to live in that is mortgage free and is your own. Nice one.

 

That should be the most important thing.

 

I started in a basement flat and ended up in a Bungalow by moving up market as soon as I thought it was on the fringes of affordability and thats seen me fine. My only regret is that I did not move up market sooner and I've hit Bungalow land 5 to 10 years earlier. So my advice to stretch yourself is based on 35 years as a homeowner not the last few years. I got my Bungalow at a good price because I bought it in the midst of a terrible winter and people were not viewing and sales were sluggish. Sales are more than sluggish in this financial storm. Much as I'd like to cash in the socialist in me would take the hit of falling prices for the common good. I'll survive.

[Munch]

Your telling me the partys over. Ive got ?35k sitting out on retention on one of these developments. Well no me personally but the company i work for.

 

No sure how true it is but i was told some guy walked into the sales office at Granton and offered ?1m for 10 flats and they bit his hand off. Each flat was ?250k 6 months ago.

 

Yes that is true i got told that by the agent that deals with the repossesions down there.

 

You can name your price i was told if you offer to buy 6 or more.

[Bigsmak]

Wish I had a million quid!

[coppercrutch]

I started in a basement flat and ended up in a Bungalow by moving up market as soon as I thought it was on the fringes of affordability and thats seen me fine. My only regret is that I did not move up market sooner and I've hit Bungalow land 5 to 10 years earlier. So my advice to stretch yourself is based on 35 years as a homeowner not the last few years. I got my Bungalow at a good price because I bought it in the midst of a terrible winter and people were not viewing and sales were sluggish. Sales are more than sluggish in this financial storm. Much as I'd like to cash in the socialist in me would take the hit of falling prices for the common good. I'll survive.

 

 

I am the same when it comes to my work. Gain my income jst now from a big bank. Likely to be cut off any time soon. Even thougt this is not good for me personally I really dislike what banks have become. Never really liked them in all honesty but they have gone to pot. Greed pure and simple.

 

I can cope with my earnings crashing if it means we can get away from the US style greed culture in this country. I find it very unpleasant. People want everything, and when they don't get it they are angry. Not a good way for a country to collectivel feel. However I think that is where we are right now. Can only get better ? Hopefully.

 

As for paying 100k for a flat at the Granton Development.

 

Long term they are probably worth around 80k as a fair price. However I imagine they will go a lot lower if the stories on this thread are to be believed.

 

I am no property expert but if you insist on splashing the cash on property right now you would have to go for quality ?

 

New Town is chocca with flats for sale. Heritors are desperate for sales.

 

If I had a million quid I think I would be popping in their office and taking 5 top quality flats off their hands.

 

Shame I don't have a million !!

[Bigsmak]

With the prices today what is the actual Material and labour cost to put up a 3 bedroom house. We can negotiate the land price of course.

 

So an imaginary exercise in building a house!

 

Land cost - ???

Materials -

Labour Skilled (plumbers electricians etc)

Labour Manual (day rate x days x amount of labour)

Admin Costs

Logistics

Planning Costs (architect etc)

Factor in a profit for the sellers/builders, between 12.5 - 17%

VAT + other charges..

 

What would it cost to put up a 3 bedroom house?

 

This is what a house should cost. Not what it might be worth in 10 years time.

 

I think on Kickback we could find out this figure..

 

(I know a lot depends on land prices but using x as a function of the cost we can build a sound equation)

[coppercrutch]

With the prices today what is the actual Material and labour cost to put up a 3 bedroom house. We can negotiate the land price of course.

 

So an imaginary exercise in building a house!

 

Land cost - ???

Materials -

Labour Skilled (plumbers electricians etc)

Labour Manual (day rate x days x amount of labour)

Admin Costs

Logistics

Planning Costs (architect etc)

Factor in a profit for the sellers/builders, between 12.5 - 17%

VAT + other charges..

 

What would it cost to put up a 3 bedroom house?

 

This is what a house should cost. Not what it might be worth in 10 years time.

 

I think on Kickback we could find out this figure..

 

(I know a lot depends on land prices but using x as a function of the cost we can build a sound equation)

 

Have seen this various times so will have a look.

 

A fair few people want total land reform in this country. I think the basic premise is you never actually own the land only the property. The people/Government own the land. You just look after it or some other theory. Can't remember the details. But everyone gets a fairer stab at the game and it removes land bank issues etc..

 

Only issue is the gentry would lose all their inherited land. Hence why it prob won't happen.

 

Who knows.

[Bigsmak]

So act as a leasehold with say a 99 or a 150 year lease on the land (negotiable of course) paying a small rent to the council each year replacing council tax... Interesting.. But a kick in the teeth to everyone who owns land right now.

[Munch]

 

I am the same when it comes to my work. Gain my income jst now from a big bank. Likely to be cut off any time soon. Even thougt this is not good for me personally I really dislike what banks have become. Never really liked them in all honesty but they have gone to pot. Greed pure and simple.

 

I can cope with my earnings crashing if it means we can get away from the US style greed culture in this country. I find it very unpleasant. People want everything, and when they don't get it they are angry. Not a good way for a country to collectivel feel. However I think that is where we are right now. Can only get better ? Hopefully.

 

As for paying 100k for a flat at the Granton Development.

 

Long term they are probably worth around 80k as a fair price. However I imagine they will go a lot lower if the stories on this thread are to be believed.

 

I am no property expert but if you insist on splashing the cash on property right now you would have to go for quality ?

 

New Town is chocca with flats for sale. Heritors are desperate for sales.

 

If I had a million quid I think I would be popping in their office and taking 5 top quality flats off their hands.

 

Shame I don't have a million !!

 

 

i had a meeting last week with d j Alexanders right hand girl, d j himself is UN touchable in his ivory tower ( or so he thinks ) i have inside info that would shock you, to do with heritor's and the s--t about to hit the fan.

 

Watch this space.

[Munch]

 

I am the same when it comes to my work. Gain my income jst now from a big bank. Likely to be cut off any time soon. Even thougt this is not good for me personally I really dislike what banks have become. Never really liked them in all honesty but they have gone to pot. Greed pure and simple.

 

I can cope with my earnings crashing if it means we can get away from the US style greed culture in this country. I find it very unpleasant. People want everything, and when they don't get it they are angry. Not a good way for a country to collectivel feel. However I think that is where we are right now. Can only get better ? Hopefully.

 

As for paying 100k for a flat at the Granton Development.

 

Long term they are probably worth around 80k as a fair price. However I imagine they will go a lot lower if the stories on this thread are to be believed.

 

I am no property expert but if you insist on splashing the cash on property right now you would have to go for quality ?

 

New Town is chocca with flats for sale. Heritors are desperate for sales.

 

If I had a million quid I think I would be popping in their office and taking 5 top quality flats off their hands.

 

Shame I don't have a million !!

 

Na you have got it wrong mate, far to conservative, look at the BIG picture, builders going bust, toxic wasteland, leith for gods sake, you disappoint me crutchster, 80k you are having a laugh, this place is next to the sewage plant, the place stinks, its an industrial wasteland, with the forth on its door step, and it stinks, 50k tops and thats on a good day, 80 k can i get a pint of what you are drinking im speechless cruchster far to conservative, IL give you a wee tip , log on to house price crash .com and get into the real world.

[Munch]

Wish I had a million quid!

 

with the righ negotiation skills you could buy 20 flats at grunton harbour not 10 ha ha ha:p for your million, and still pay too much.

[coppercrutch]

i had a meeting last week with d j Alexanders right hand girl, d j himself is UN touchable in his ivory tower ( or so he thinks ) i have inside info that would shock you, to do with heritor's and the s--t about to hit the fan.

 

Watch this space.

 

It was another poster who first posted what you are talking about..

 

Don't you worry I can guess what trouble they are in. I first stated this aaaagggges ago.

 

Heritors have borrowed a massive amount of money through HBOS to finance the purchase of hundreds of properties in Edinburgh at near peak prices....

 

You don't have to be Roubini to work out what is coming next..

 

PS - A PM with juicy details would be nice !! Promise I wont make public.

 

Na you have got it wrong mate, far to conservative, look at the BIG picture, builders going bust, toxic wasteland, leith for gods sake, you disappoint me crutchster, 80k you are having a laugh, this place is next to the sewage plant, the place stinks, its an industrial wasteland, with the forth on its door step, and it stinks, 50k tops and thats on a good day, 80 k can i get a pint of what you are drinking im speechless cruchster far to conservative, IL give you a wee tip , log on to house price crash .com and get into the real world.

 

However I imagine they will go a lot lower[/u'] if the stories on this thread are to be believed.

 

 

Anyway - the day I am called conservative when it comes to property price falls in Edinburgh is a worrying day for some...

[Bigsmak]

with the righ negotiation skills you could buy 20 flats at grunton harbour not 10 ha ha ha:p for your million, and still pay too much.

 

I never said anything about buying flats... I would **** it against the wall partying! ...

[Hambone]

I did a lock-out in one of the flats in Western Harbour a couple of months back.

It was late on a Sat night and the place was bustling to put it mildly. Very loud music, people hanging out their windows shouting at each other and lots of dodgy looking Eastern European and African characters hanging around the entrances to the flats.

I almost did a u -turn and decide to give the job a miss. As it turned out the customer who was locked out turned out to be a high class escort.

Very interesting indeed:)

 

Anyhow putting her occupation aside, she tells me that most of the flats are owned or rented by Criminals, Prostitutes and Drug Dealers.

 

So maybe this is why the prices have fallen rapidly.

 

Oh - and she gave me an excellent tip for letting her in.

 

A lot of the flats seem to be holiday lets.

I drop off there at the weekend as often as hotels.

(English up for the weekend)

[flecktimus]

Looks like it just not Granton taking a hit

 

http://edinburghnews.scotsman.com/topstories/Developer-faces-loss-of-up.4592661.jp

 

Up to a ?1 Million loss

 

Thats getting very near CC predictions

[coppercrutch]

Looks like it just not Granton taking a hit

 

http://edinburghnews.scotsman.com/topstories/Developer-faces-loss-of-up.4592661.jp

 

Up to a ?1 Million loss

 

Thats getting very near CC predictions

 

Can't believe they bought those this year..

 

Incredible. Do these people do no research, long term trends, analysis ?

 

I have, and it's not my job - I just find it interesting.

 

Anyway why is this sad Flecktimus ?

 

Gradually getting towards a point where a decent hardworking person in this city can afford to buy a house. This impacts all sectors, from bottom to top.

 

This drop by Heritors must be close to 50% ?!

 

Of course let's hope it doesn't get so bad that buying a house is the least of our worries. None of us want complete meltdown.

[flecktimus]

Can't believe they bought those this year..

 

Incredible. Do these people do no research, long term trends, analysis ?

 

I have, and it's not my job - I just find it interesting.

 

Anyway why is this sad Flecktimus ?Gradually getting towards a point where a decent hardworking person in this city can afford to buy a house. This impacts all sectors, from bottom to top.

 

This drop by Heritors must be close to 50% ?!

 

Of course let's hope it doesn't get so bad that buying a house is the least of our worries. None of us want complete meltdown.

 

Where have i said its sad.

 

Got an e mail today from friends moving to Edinburgh and they have just bought a 2 Bedroom flat at the Bond Building Conversion building on Breadalbane St ?160,000.

 

http://www.rightmove.co.uk/action/SoldPricesAction?eventSubmit_doGetresults=1&outcode=EH6&s_lo=EH6+5JJ&country=SCO&incode=5JJ&type=0&startyear=-2&x=98&y=15

[Munch]

Can't believe they bought those this year..

 

Incredible. Do these people do no research, long term trends, analysis ?

 

I have, and it's not my job - I just find it interesting.

 

Anyway why is this sad Flecktimus ?

 

Gradually getting towards a point where a decent hardworking person in this city can afford to buy a house. This impacts all sectors, from bottom to top.

 

This drop by Heritors must be close to 50% ?!

 

Of course let's hope it doesn't get so bad that buying a house is the least of our worries. None of us want complete meltdown.

 

 

oops this was the info i got last week, im surprised it leaked out so quick.

[Jamboelite]

Look at these prices - what are they smoking thinking they can get this much?!?!!

http://www.bryant.co.uk/EastScotland/WesternHarbour/WesternHarbourAvailability

 

?700k for a 3 bed, i could build you 5 bedroom holiday home 20 miles outside of krakow for ?150k. nice wee holiday house, grand weather, cheap beer and a two hour drive to the mountains for skiing in the winter!

 

I actually saw some of the houses outside Krakow going cheap they looked ace.