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House prices fall confirmed



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Published Date: 07 October 2008
HOUSE prices in the Capital have fallen for a second month in a row, it was confirmed today.
Latest figures show that there was a seven per cent slump in Capital property prices last month, which came on the back of a six per cent drop the month before.

And not only is the average price going down, but estate agents say they are selling half the number of properties they were a year ago.

The ESPC figures showed the average price of a home in Edinburgh is now £219,000, down from £222,000 last year.

Areas such as the city centre, Gorgie/Dalry, Stockbridge and Leith Walk are worst affected.

East Lothian average prices have fallen by 11 per cent and Midlothian by nearly 12 per cent. West Lothian saw a 2.5 per cent rise.





The full article contains 142 words and appears in Edinburgh Evening News newspaper.
Page 1 of 1

  • Last Updated: 07 October 2008 10:34 AM
  • Source: Edinburgh Evening News
  • Location: Edinburgh
  • Related Topics: Mortgage and property news
 
1

reader,

Edinburgh 07/10/2008 14:45:49
13% in two months? Whoa, if that's not a crash... #1 the year-on-year fall of 0.5% is probably because the peak in Edinburgh was much later than elsewhere.
2

Vandala,

07/10/2008 17:21:49
Only another 27% to go then.
3

Voldemort,

Edinburgh 07/10/2008 23:57:09
Hold on to your hats folks !

Labours massive tax and spend government have once again made a mess of it ... now we are going to have to pay the price for their corruption and incompetence ...


4

Plodjfriss, Hammer of the Numpties,

Edinburgh 08/10/2008 06:11:11
To be fair (grits teeth), you can look at the report on the ESPC website, and it shows a 7% drop year-on-year, since last September. The 6% figure is year-on-year since last August. Still not too good for a city that was supposedly going to enjoy perpetually rising house prices due to its special invulnerability to global economic problems.
5

Plodjfriss, Hammer of the Numpties,

Edinburgh 08/10/2008 06:17:40
... although, looking at the report again (http://www.espc.co.uk/EspcPageMedia/PropertyPriceReports/2008-Q3.pdf), it says on page 2 that we had a 7% annual fall in September, but then in the table on page 4 it says that the average selling price fell by 1.2% y-o-y (although the annual sales volume is down a juicy 57.2%). I admit it, I've no idea what's going on.
6

Geed,

09/10/2008 21:52:42
@6 I agree the ESPC report is as clear as mud. ESPC trying to hide the truth about a collapsing market no doubt. My advice; Stay well clear of property in Edinburgh (well the UK really) for at least, at least the next two years and take everything this rag says with a pinch of salt, their pockets are lined by vested interests....

 

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