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How Craigmillar became hot property. . in just 20 minutes

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Published Date: 15 February 2008
By GEMMA FRASER
THE first batch of affordable homes being built as part of Craigmillar's 15-year regeneration programme go on sale this weekend.
And they are proving so popular all 30 appointments for the sales launch were snapped up within 20 minutes of phone lines opening yesterday.

Two-bedroom flats in the new ParcLife development start at £115,000, while buyers will be able to pick up a three-bedroom house for as little as £147,500.

Twelve hundred "priority clients" – or people who registered their interest at an early stage – were given the first chance to book a reservation appointment and buy one of the properties being built in The Square as part of phase one of the development.

The homes are expected to be particularly popular with first-time buyers struggling to get a foot on the property ladder, as the new apartments will be among the most affordable in the Capital.

The city has seen a significant drop in the number of people buying homes costing less than £125,000 over the past year, indicating the number of "affordable" properties are getting scarcer.

Investors are also expected to be keen to cash in on Craigmillar's redevelopment, which will see the creation of a new town centre and a new £30 million high school.

David Marshall, ESPC business analyst, said: "An area that's been earmarked by the council as part of long-term redevelopment is attractive to investors.

"The number of properties sold for under £125,000 went from 27 per cent to 14 per cent in the last year, so there will definitely be a lot of interest from first-time buyers in this development."

There are just over 60 properties being released in the first phase, with 12 being sold to a housing association for affordable rent and some being kept exclusively for Craigmillar residents.

After this weekend's launch for the "priority" customers, sales will be opened to the general public.

A sales and information centre will open at the site, off Niddrie Mains Road, in mid-March and a "fluid process" of selling the homes as each phase is launched will follow.

A ParcLife spokesman said: "It's very encouraging that we have had such interest in applications and we will wait and see how the sales go."

Parc, which is behind Craigmillar's overall regeneration plans, is a partnership between the council and its own arms-length property development firm EDI.

It plans to create a new town centre with shops, community and leisure facilities, a new primary school and a library.

The £30 million secondary school to replace and expand Craigmillar's Castlebrae Community High School also got the green light last month after months of uncertainty.


Page 1 of 1

  • Last Updated: 15 February 2008 10:28 AM
  • Source: Edinburgh Evening News
  • Location: Edinburgh
 
1

Andy Pandy,

Sunny Loanhead 15/02/2008 12:14:56
I liked the previous stories a few months ago on this development that if you spell it backwards its efil crap - sums it up perfectly
2

Dublin.Hibs,

15/02/2008 12:16:00
what calculator are you using, think that was quite aMOOsing, and you should maybe pull the UDDER one, but good to see you taking the BULL BY THE HORNS and tackling the story when there is obviously alot at STEAK i think i am MILKING this a bit now
3

Bob 2,

15/02/2008 12:23:58
Affordable, but how do they expect someone to eat and heat there houses?

Would hate to be a first time buyer

£125,000 mortagage over 25 year will cost someone £900 a month.

Someone earning a modest income of £16,000 will walk out with approx £900 a month

now add council tax, lighting and heating, food ?
4

The Judge,

15/02/2008 12:28:01
I had the pleasure of walking through Craigmillar yesterday, its infested with feral brats and stray dogs. If you pay £125k for a flat down there you need your head examined.

I wonder how many of these flats will be BTL and then rented out to the same people who are already living down there?
5

JT,

15/02/2008 12:30:39
Apart from the "affordability" issue that has been mentioned already. Would you really want to live in Craigmillar?? Its about time the council got a reality check with building all the "affordable" places in in grotty parts of town. I know that there are nice people in these areas but the majority that I have seem whilst travelling through are not. I would have to borrow 7 times my salary to get one of these "affordable" places - hardly responsible borrorowing.
6

Louis Catorze,

15/02/2008 12:35:03
Anything to stop the new owners selling up after a few months and adding the flats to Edinburgh's list of unaffordable housing?
7

S.H.,

lenzie 15/02/2008 12:43:48
£125K for a first time buyer is steep but remember it is for a 2 bed flat. Most first time buyers would be looking for a one bed flat - I don't know if they built any of that size... At best a first time buyer could get someone to rent the spare room out in order to help them with the mortgage - far from ideal though.
8

Arnie,

Newington 15/02/2008 13:07:35
4 Even if it is available for buy to let, I wouldn't touch it with a bargepole.
9

Louie the Dip,

Edinburgh 15/02/2008 13:20:51
What a joke. Niddrie & Craigmillar needed better council housing not "affordable housing". How many of the residents who were decanted to make way for this "regeneration" can now afford to move back. Not many.
10

Logie Almond,

15/02/2008 13:24:48
#12, council housing in Craigmillar was renovated time after time but was repeatedly trashed by the lowlife who live there.
11

Louie the Dip,

15/02/2008 13:29:17
#13 You just don't get it, do you ? Cure the problems of Niddrie & Craigmillar by moving the lowlife into other areas. Brilliant idea.
12

Duncan in Edinburgh,

15/02/2008 13:41:32
#1, #5 etc. your calculations are based on one person's income. Surely these two bedroom flats are designed for a couple, or two adults at least? If both people work then it should be affordable. I would find it difficult to pay my mortgage on my own, I think most people would!
13

Morag McBoots,

Lasswade 15/02/2008 13:50:01
"...as little as £147k"? In that case put me down for 2!
14

,

15/02/2008 14:38:14
Comment Removed By Administrator
Reason:
15

Choose a nameDr_Joseph_Phd,

Tynescos 15/02/2008 14:39:31
Seems a lot of the folks on this thread last went for a mortgage in the 80's.

Many companies provide 4.5x salary (meaning anyone earning £23k can afford a two-bed). The repayments would only amount to around £550 per month. Rent a room out at £250 and it would become a very attractive proposition... if it weren't in Craigmillar.
16

Turkey Jerky,

15/02/2008 14:58:50
#19 Tosh!!!

I have a £85000 mortgage and we pay a little over £550, and thats with a fixed rate from before the interest rate hike.

But you are correct about renting a room to a lodger, up to £350 pcm tax free income, and they have much fewer rights than letting tenants, which helps avoid legal complications/evicting.

Also lenders are allowing greater loans to those of lesser income.
17

Duncan in Edinburgh,

15/02/2008 15:03:19
#20 Hehe, what interest rate hike?? Interest rates are going down.
18

Ard Righ,

The Rock Of Edinburgh 15/02/2008 15:04:22
Ban Schemes
19

Ard Righ,

The Rock Of Edinburgh 15/02/2008 15:07:25
Those that wish a house should hire an architect and builder and get their own place built, you then have a community that has character, ensuring there is a friendly layout of paths and roads a Post office and a town hall at the center.
Ant thing else is alien, like the picture above.
20

Bien E. Bien,

15/02/2008 15:08:12
I know a guy called Craig Millar. Wonder if he after one of these houses.
21

Ard Righ,

The Rock Of Edinburgh 15/02/2008 15:10:30
VISION? !!!!!!!!!

No, total lack of vision or tradition
22

Nosey neighbour,

there or there abouts 15/02/2008 15:21:41
#9 They had a couple of 1 bedrooms there. I have a friend who got one of them ;) They were going for £85K
23

Choose a nameDr_Joseph_Phd,

Tynescos 15/02/2008 15:25:14
#20

You've struck a bad deal or are on a shorter than 25 year term.

I have a number of properties. It isn't difficult to find a mortgage at the rates I mentioned.
24

Dublin.Hibs,

15/02/2008 15:31:01
where do you get off calling people who are working class lowlifes?

Morons, Not everyone can afford the luxuries of morningside.....idiots
25

Dublin.Hibs,

15/02/2008 15:32:39
25

you sell your ass anyway ye wee rent boy, now bolt ya wee radge
26

Dublin.Hibs,

15/02/2008 15:33:38
17 even

although 25 was talking pish aswell
27

jambo1,

Rotherham 15/02/2008 15:42:05
all well and good, but who would want to buy a property in Craigmillar where there is junkies and other waste of space dweebs ready to smash up the place
AM ONLY TOO GLAD AM OOT THE DUMP LIVING IN A RESPECTABLE AREA AND WORKING FOR A LIVING
28

tomias,

Edinburgh 15/02/2008 15:44:33
Remember Brown Street etc at Kirk O'Fieldsas they were decanted to a one shop area known as Craigmillar.Niddrie.
A Magabe like exercise then.
Edinburgh Council has a member who should be shouting out very loudly-love they neighbour-but alas charity beging in this city in the trough
29

Mr H 2u,

Embra 15/02/2008 15:47:04
Am I the only one who finds the Snoozes propensity for reprinting press releases a wee bit ludicrous. And as for the manner in which they swallow the affordable housing lie hook, line and sinker, why that's scandalous.

It's why I read it online instead of buying it these days. They don't deserve my money.
30

jambo1,

Rotherham 15/02/2008 15:47:06
STUFF THY NEIGHBOUR, I HAD IRRITANT ONES FOR OVER 15 MONTHS, STILL, BET THOSE SODS WILL GO OUT AND BUY A HOUSE IN CRAIGMILLAR EH????
31

Jaco Pastorius,

Maine 15/02/2008 15:51:04
No. Just ... not.
32

,

15/02/2008 16:35:38
Comment Removed By Administrator
Reason:
33

Philip Thompson,

Morningside 15/02/2008 17:04:06
#38 - You're a little bit racist.
34

Duncan in Edinburgh,

15/02/2008 17:05:54
#38 I think our only hope is that within those 10 years you'll have left.
35

Rod,

Champfleurie Estate 15/02/2008 17:10:32
Glasgow has been moaning that it needs a greater population in order to increase its Council Tax revenues. So, why not just export the Edinburgh low life to the west where they will be recognised as a 'waan oh wur ain, by the way'?
This would leave areas such as Niddrie / Broomhouse / Gracemount etc receptive to or a more suitable owner or tenant.
36

Rod,

Champfleurie Estate 15/02/2008 17:13:23
#40 #38 I think our only hope is that within those 10 years you'll have left.

Agreed but who would take anyone seriously whose name is......Brett.
And the surname? Sounds a touch Oirish to me.
37

gus1940,

Edinburgh 15/02/2008 18:08:44
The scotsman.com web site is a bl--dy disgrace - a total disorganised shambles.

And that's before even considering the actual content.
38

jambo1,

Rotherham 15/02/2008 18:14:32
Mr Thomson, I totally agree with number 38, its a very true fact, Edinburgh is becoming over run with these migrants, and no wonder when they happen to be handed all the best houses, jobs, getting all the benefits they can muster
before anyone replies to my comments, I am not being racist, far from it, but when it comes to having suffered anti social behaviour from a migrant family for over 15 months and the council bricking it to do anything, they themselves proved, migrants get away with it all and being rewarded in the end
again, I fully agree with brett gallacher's comments
39

orangepeel,

15/02/2008 18:54:12
£115,000 must be a new definition of "affordable" that I wasn't previously aware of.
40

Ard Righ,

The Rock Of Edinburgh 15/02/2008 19:17:01
43
gus1940

Yeah its terrible, the forums some times cut off when you in the middle of something. The login is very screwed up and navigating the site is very inflexible, the archive is a joke- it always has to be accessed via "home".
41

Ard Righ,

The Rock Of Edinburgh 15/02/2008 19:20:04
These "units" will be costing about 35K to build each, the architects and developer will probably take the same again- so about £70K which would be in the "reasonable" price we could expect from such shoite building.

Con Con Con.
42

John Knox furr First Meenister,

High 15/02/2008 19:59:19
#38. Gallacher. Blacks "Surnames of Scotland" has it as Irish of recent origin. Welcome to Scotland. Leave your prejudices back with your tattie munching bog dwelling papist brethern. Is that OK to say that?
43

Bob 2,

15/02/2008 20:17:19
no19 most people are aware that lenders will loan people more than they can afford.
Thats why people are in so much debt, with Companies bombarding and giving people credit that they cannot afford.
Credit Cards, Personal Loans, Mortgages.

Houses prices have doubled in the last 5/10 years, how many peoples wages have doubled.

Even the adverts on the TV, been refused Car Credit, because of bad debt....No Problem Madam, have a 2007 plated car at 28% interest over 5 years..that'll help you get into even more debt.

My figures are based on a standard 25 year morgage, and not many lenders will give you 100% of a £115,000 mortgage
44

Julian,

EDINBURGH 15/02/2008 22:23:44
Fresian and Orangepeel,

£115,000 for a 2 bed in Edinburgh. That's affordable these days.

If you go to a good lender you'll get up to 5 times your salary. And let's not exagerrate, a repayment mortgage on 115k comes in at around £650 a month.
45

Julian,

EDINBURGH 15/02/2008 22:26:55
Bob2,

And whose fault is it that these people are in debt? Isn't it their own fault for taking on more than they can afford.

Do agree with you on house prices though. In my opinion, the whole problem is being created by BTL property owners hoovering up the whole market. Let's hope they've done something with these properties to stop these people moving in.
46

WKKB,

15/02/2008 23:20:17
I'd love to get on the band wagon and buy an investment flat for added income in my senior years but until the youth who live in Craigmiller stop throwing bricks at cyclists riding through to get to work in the city I'm not touching the place. As an acquaintance who lives there says, Be Afraid, Be very VERY Afraid. And on top of that, "Affordable"? Hmmmm..... for whom exactly? Mostly developers or someone who has a few properties and wants to invest in their future like me. Most first time buyers will struggle unless there are 2 incomes or they're just to dumb to realize they can't afford it and end up being one of those in horrible debt with a huge mortgage hanging over their heads wondering how they'll pay for their next meal.
47

Evia,

15/02/2008 23:59:53
Since when did £125,000 become affordable? We need housing that is truly affordable for our young people and take into account the probability that a young couple will eventually have a family. When a family comes along, how are they going to pay a mortgage based on two incomes if the wife/partner stops work for a while.

Thank goodness I managed to buy my house before prices got out of hand. This was managed by doing without things that weren't essential for a while. Some of the ones who say they can't afford the price want to have everything at once but there are many who truly can't afford £125,000 and have even the essential things.
48

Scott Webb*,

16/02/2008 02:35:35
When i read the headline i thought they must of found oil there :)
49

Dublin.Hibs,

16/02/2008 10:45:20
Agreed but who would take anyone seriously whose name is......Brett.
And the surname? Sounds a touch Oirish to me.

------------------------------------------------------
You my son are an erse, obviously a privately educated confused scared little boy who got one to many up the gary glitter. Little boys should be seen and not heard, ye wee racist fuckpig, now get back in your box gimp,

38 you too are a moron, absolute erse, would love to meet both of you and slap some sense into you....
50

Bob 2,

16/02/2008 10:56:29
51 Julian

totally agree its people daft enough to take these loans in the first place.

The lenders have to take a wee bit of responsibility as do the government(via the FSA), its crazy that you can get 5 credit cards offering you credit worth £20,000+.

theres is a problem with getting a loan...You've got to pay it back.

Most people treat Money and there finances like monopoly money, theres No reality on how much you are borrowing or spending, as we become a more cashless society.

House prices just roll of the tongue, its only £315,000 etc etc.

51

Bob 2,

16/02/2008 10:58:06
a standard £125,000 mortgage over 25 year will cost someone £900 a month.

yes there are fixed rates available.

for most if they are lucky this is a months salary
52

Duncan in Edinburgh,

16/02/2008 12:26:54
#57 Why would anyone get a mortgage which would cost them £900 a month for £125k over 25 years when you can get one that will cost about £730?

And why would someone get 100% mortgage in these economic times? Surely you would advise anyone to build up a deposit of some sort to reduce the threat of negative equity - and indeed to reduce their payments?

So a more realistic assessment for me would be two people buying a home together, saving up perhaps £10,000 as a deposit, getting a mortgage for £115k over 25 years ate cost of perhaps £700 a month, and paying £350 each towards it.

To me that is more realistic.
53

Kiwi-Scott,

Wellington 17/02/2008 01:34:08
Can't really say that ths is affordable and are these properties going to be the slums of tomorrow???? The UK housing market is heading for a big fall and god help those with 100% mortgages. Sounds to me that the poor sods who thinks this will be the answer will be heading towards a Craplife, not Parclife. Do people honestly think that good quality building materials have been used and that no corners have or will be cut during construction.
54

Bob 2,

17/02/2008 13:26:07
58..Duncan in Edinburgh....never said they would..I was just giving an example of what a standard mortgage would cost.
Saving for a £10,000k deposit, isn't easy unless your on a very good salary

People trying to save for a deposit are in a catch 22 position.

By the time they have saved there £10k, the price of a house might have risen from £125k to £135k, so they still end up borrowing £125k.

Remember ..."The Prices Two-bedroom flats in the new ParcLife development start at £115,000, while buyers will be able to pick up a three-bedroom house for as little as £147,500......
Will the £125k ones be ground floor flats with half the world passing your window.

And the end if the day, House prices are over inflated, and we all play the game.

is an ex terraced council house worth double what its was ten years ago.

Even some Building insurances give the rebuild at less than what people have paid.

Build 2 identical houses, one in Say "Craigmillar" and one in "barnton"...would they both sell for the same price?

 

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