Oil price and NE property market
Discussion
The market seems to be well down on last year. I know some developers are having serious difficulty shifting new builds in some locations. I've also noticed a lot more expensive stuff listed for fixed price or "offers around", as well as quite a few places dropping their asking price. A necessary correction to an over-heated market, I suppose.
If anyone here has a house on Rubislaw Den South or North, I'm willing to offer up to £100k depending on condition and size.
If anyone here has a house on Rubislaw Den South or North, I'm willing to offer up to £100k depending on condition and size.
We bought a few weeks ago in the 300-350k range and it did seem like their wasn't much competition, compared to what we expected anyway.
Of the houses we viewed, one is still on the market 3 months later, 2 other have reduced their price and set a fixed price, and one other also sold very quickly. The estate agents phoned us several times about our interest and the price, not sure if that would have been necessary during boom time.
We paid 4.5% over value
Of the houses we viewed, one is still on the market 3 months later, 2 other have reduced their price and set a fixed price, and one other also sold very quickly. The estate agents phoned us several times about our interest and the price, not sure if that would have been necessary during boom time.
We paid 4.5% over value
Looking at buying a new build in Aberdeen but it's the 1st time I have dealt with this type of purchase. The house already has LBBT covered as well as flooring but I'm wondering what other areas are open to negotiation? Can I go in with a low ball offer or am I better negotiating in another area?
Also what's the take on the Aberdeen housing market currently, are we close to the bottom or is there further to go?
Also what's the take on the Aberdeen housing market currently, are we close to the bottom or is there further to go?
We did an extension and changed mortgage recently so have been keeping an eye on prices in our area for the past while. Prices seem a little variable; one house across the road from us has been on for a short while and another a bit further down came up in the past week. Square footage, garden size and number and types of rooms are similar but the more recent one is priced £54k higher. Either someone is a bit optimistic or someone else wants out fast, or a bit of both.
In general for our area (Mannofield/Seafield/Airyhall) things appear to have slowed a bit but not dropped.
In general for our area (Mannofield/Seafield/Airyhall) things appear to have slowed a bit but not dropped.
Cblair246 said:
Also what's the take on the Aberdeen housing market currently, are we close to the bottom or is there further to go?
The slide has only just started in my opinion. The number of properties on the market has rocketed in past few months - generally the first sign.Anyone paying full price for new builds, or way over valuation is wasting money.
rossub said:
Cblair246 said:
Also what's the take on the Aberdeen housing market currently, are we close to the bottom or is there further to go?
The slide has only just started in my opinion . The number of properties on the market has rocketed in past few months - generally the first sign.Anyone paying full price for new builds, or way over valuation is wasting money.
No fecking way would I pay near asking in Aberdeen around now and seeing what could possibly come later this and early next year. NB's are fickle compared to traditional.
jshell said:
rossub said:
Cblair246 said:
Also what's the take on the Aberdeen housing market currently, are we close to the bottom or is there further to go?
The slide has only just started in my opinion . The number of properties on the market has rocketed in past few months - generally the first sign.Anyone paying full price for new builds, or way over valuation is wasting money.
No fecking way would I pay near asking in Aberdeen around now and seeing what could possibly come later this and early next year. NB's are fickle compared to traditional.
Has anyone had any success in offering under the asking price for a NB? What other strategies have worked out well when dealing with a home builder rather than private sale?
Cblair246 said:
jshell said:
rossub said:
Cblair246 said:
Also what's the take on the Aberdeen housing market currently, are we close to the bottom or is there further to go?
The slide has only just started in my opinion . The number of properties on the market has rocketed in past few months - generally the first sign.Anyone paying full price for new builds, or way over valuation is wasting money.
No fecking way would I pay near asking in Aberdeen around now and seeing what could possibly come later this and early next year. NB's are fickle compared to traditional.
Has anyone had any success in offering under the asking price for a NB? What other strategies have worked out well when dealing with a home builder rather than private sale?
Maybe a bit off topic, but I have been renting out a place in Danestone for a few years and always had a good choice of tenants to select from, but as of late last year the tenants departed and have been having no success with Peterkins to find a replacement. Have dropped the monthly rental price twice now and starting to wonder if its best to just get it on the market and get out before things become impossible to shift. Its a two bedroom in Fairview area, great for nipping along the back roads if you work in Dyce - but with less helicopter pilots and oil and gas technicians needing places to stay its thin pickings. I think high end oil execs and over paid engineers are still keeping some areas up and for sure the market is not what it once was.
But please don't feel sorry for me, the property value is still much better than what I paid many many moons ago.
But please don't feel sorry for me, the property value is still much better than what I paid many many moons ago.
Cblair246 - where about are you looking to buy? The wife works for a house builder as a sales consultant and has been on all their active sites locally. As a result she (and me by proxy) have a fair idea on the workings of the sale process (discounts/incentives) so may be able to help? If it's the same builder of course.
CrouchingWayne said:
Cblair246 - where about are you looking to buy? The wife works for a house builder as a sales consultant and has been on all their active sites locally. As a result she (and me by proxy) have a fair idea on the workings of the sale process (discounts/incentives) so may be able to help? If it's the same builder of course.
Crouchingwayne, it's Bieldside and Cults we are looking at buying. Checked out both Cala and Muir (albeit on the other side of the river). Any advice would be greatly appreciated to get an idea of what is realistic when it comes to negotiating. Thanks. jshell said:
CO2000 said:
Have it valued & offer its value
This is very good advice right now. Professional valuation for a small fee may prove very valuable.Cblair246 said:
price under the valuation.
From when? There is no easy fix to the current crisis, so it may slide further. I remember - oldie - the crash of '86 when a traditional detached house in Cults and Miltimber hit £30-ish k and folks were chucking keys through Building Societies doors!
Cblair246 said:
Crouchingwayne, it's Bieldside and Cults we are looking at buying. Checked out both Cala and Muir (albeit on the other side of the river). Any advice would be greatly appreciated to get an idea of what is realistic when it comes to negotiating. Thanks.
Rumour mill has it that the Muir on S Deeside Road has only sold a single house in the development. It may just be gossip, but I would be wary about that site.SrMoreno said:
Rumour mill has it that the Muir on S Deeside Road has only sold a single house in the development. It may just be gossip, but I would be wary about that site.
I've heard that too - possibly as a result of these houses currently falling into the Kincorth School catchment area.Goatex said:
SrMoreno said:
Rumour mill has it that the Muir on S Deeside Road has only sold a single house in the development. It may just be gossip, but I would be wary about that site.
I've heard that too - possibly as a result of these houses currently falling into the Kincorth School catchment area.Deeside (Muir) I think I have had a weekly email from them asking if we are still looking, saying there are new incentives available.
Ury claimed this week they can't build fast enough. Plenty buyers, no offers currently available.
Chapelton was in the middle. Again, no offers.
K666ADM said:
Maybe a bit off topic, but I have been renting out a place in Danestone for a few years and always had a good choice of tenants to select from, but as of late last year the tenants departed and have been having no success with Peterkins to find a replacement. Have dropped the monthly rental price twice now and starting to wonder if its best to just get it on the market and get out before things become impossible to shift. Its a two bedroom in Fairview area, great for nipping along the back roads if you work in Dyce - but with less helicopter pilots and oil and gas technicians needing places to stay its thin pickings. I think high end oil execs and over paid engineers are still keeping some areas up and for sure the market is not what it once was.
But please don't feel sorry for me, the property value is still much better than what I paid many many moons ago.
Empty rentals are an obvious sign of where things are headed. There are a lot of clearly ex-rental properties coming onto the market due to the lack of tenants.But please don't feel sorry for me, the property value is still much better than what I paid many many moons ago.
I personally wouldn't buy a new build at the moment for fear of living on a half built estate for years to come until the market improves again. Could end up like Ireland after the crash!!
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