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Small signs of hope over house prices

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Published Date: 18 May 2009
HOUSE prices in Scotland continued to fall last quarter but there are small signs of market recovery, figures published today suggest.
Lloyds TSB said the average cost of a home dropped in each of the first three months of the year but April was marked by a rise.

In Edinburgh house prices have fallen by 7.6 per cent in the last quarter.

Nationally the bank's House Price Monitor recorded a 4.3 per cent fall in prices for the quarter, bringing the average cost of a home to £148,990. It compounds a slide in prices of 2.3 per cent at the end of last year.

Dundee and the north of Scotland saw the steepest drop in prices since January of 17.5 per cent and 16 per cent respectively.

The region encompassing Fife, Perth and Tayside was the only area to see a rise, recorded at 9.6 per cent.

The overall number of house purchases is down 35 per cent on the same period in 2008, with flats faring the worst.





The full article contains 182 words and appears in Edinburgh Evening News newspaper.
Page 1 of 1

 
1

Stan Butler,

18/05/2009 09:52:28


Why is a suggestion that house prices may have risen regarded as a sign of hope?

Houses are over priced. It's a good thing that prices have fallen.
2

me150,

18/05/2009 11:45:00
~1

I agree. I have said in these forums for years that property is grossly over priced. We need to see them fall further.

Unfortunately the people who over committed into over priced mortgages for over priced property will disagree.

If only there was not the greed or need to own property the prices would be more realistic but in this can have, must have society that will never happen.
3

alfonsa pedrosa,

embra 18/05/2009 12:34:43
House prices will keep on falling and the houses will sell but,for how little,no good to whoever is selling it.
4

Disgrunted Ebardonian,

Edinburgh 18/05/2009 13:11:39
It was Magie thatcher that encouraged the people to buy their own houses
5

Disgrunted Ebardonian,

Edinburgh 18/05/2009 13:12:43
Best priced houses are in the boarders they are knocking them down because they cant sell them
6

RCro,

Edinburgh 18/05/2009 17:22:22
#1 you're right, Small signs of fear rather than hope over house prices would be more accurate for me. Hope for estate agents only.
7

tony montana from cumbie,

edinburgh 18/05/2009 18:10:18
yeh #1 take it your still renting ''
and mad that you cant buy a house lol''''''''
8

me150,

18/05/2009 18:26:58
#7

There are more important things in life rather than buying a house. Most people with bought houses are worried about being able to keep them and not because of the recession but because of their own stupidity for overcommitting, the recession only helped to bring this to a head.

Social housing is of better quality than modern built private houses and by living in one you at least know their will always be a roof over your head without a huge debt.
9

EPS,

Edinburgh 19/05/2009 00:24:30
#8 You are right: there are more important things in life than buying a house. But let's keep things in perspective: there are more important things in life than renting a house too. Buying and renting are just two different ways of having a roof over your head, and in a free market there is no reason to suppose that one is always better than the other. The choice of whether to buy or rent (if you're lucky enough to have a choice) is likely to depend on income, temperament, locality, socio-economic class, and many other factors.

Many people who buy houses over-commit, but not most, especially in Scotland, where the people continued to be prudent even when the banks didn't.
10

The Wurg,

Edinburgh 19/05/2009 22:46:19
"Small signs of hope over house prices"

How opinionated. The Scotsman and Evening News are the mouthpiece of the ESPC. A rise is good for same and bad for others.

Please save this type of one sided reporting for items in which virtually everyone is expected to rejoice - rescues, recovery from illness etc.

Perhaps objective reporting is too much to hope for. ....

 

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