Portobello Property Market

Porty · Post by **Porty** » 21 Jul 2004, 17:08

Im not really to up to date on the market in Porty however, Im beginning to notice a proliferation of sale boards and some homes that have been on sale for a while. Having lived here for many years there are quite a few places that do not appear to offer good value for money. Am I mistaken? Is there still some incredible prices being paid.

In particular Im thinking of some of the houses in the Brightons and one on Joppa Road in he Ã‚Â£400k+ bracket.

Post by **wangi** » 21 Jul 2004, 17:27

That Joppa Rd one is way over the top - you can/could have the same house style on the prom for less... Been on the market for ages, it's currently empty but I guess the owner's not in a hurry...

Sold sign went up this morning / yesterday for 13 (I think) Esplanade Terrace (same style house as the one on Joppa Rd) - OO Ã‚Â£250k.

Post by **wangi** » 21 Jul 2004, 22:38

Marya wrote:If you want to know how much your neighbour sold for then check out http://www.myhouseprice.co.uk/

Or for better value: http://www.ros.gov.uk/citizen/shp.html - Ã‚Â£5 for a whole sub-postcode (i.e. EH15 3) of prices.

bellybabe · Post by **bellybabe** » 22 Jul 2004, 08:42

Well thanks for the links, guys - just discovered that a house on our street sold for Ã‚Â£170k. I have to agree with Porty - for a house on our street that seems a crazy amount of money (I'll just go ahead and offend any other residents of my street, shall I?!). It would be great news if only we could manage to live in a tent!

Porty · Post by **Porty** » 22 Jul 2004, 11:15

Marya wrote:The value of a property is ultimately what someone is prepared to buy it for. If you are looking at Georgian houses, The Brightons are great value compared , for example, to Ann Street./[/url]

I was trying to make the point that some properties in Portobello now look overpriced as the edge comes off the Market. Comparison with Ann street are not relevant to the PPM . There are at least 3 Georgian Houses for sale in the Brightons and they have been for sale for some weeks. They are not sellling which supports my assesment.

Either this is because the asking price is too high or there is something wrong with the property? One of those house has one bathroom and is priced to attract offers at around Ã‚Â£550,000. I dont think it will happen but as you say the Market will decide.

Sandra · Post by **Sandra** » 22 Jul 2004, 13:37

Porty

Some of the flats in my street have been up for sale for weeks at offers over, gone to fixed price and still cannot shift, defo think a shift in the market....

Porty · Post by **Porty** » 22 Jul 2004, 14:32

Marya wrote: It is fair to make comparison to properties in other areas. As the saying goes "they're not making land any more" and there are only so many pockets of Georgian housing in Edinburgh. If you want a New Town propotioned house but don't want to pay Heriot Row prices then Porty, Pilrig etc. are still good value in comparison.

Marya it is not relevant to compare properties in other areas when we are discusiing the Portobello Property Market. You must be thinking of the "Other Areas Compared To Portobello Property Market" thread.

The house on EBC was sensibly priced, hence it sold. I agree with the points you make about the derogatory charactersitice of 2 of the For Sale Properties in the Brightons but I still come back to the fact that the asking prices are too much or they would have sold. You are right not to worry about negative equity There is no chance of negative equity for anyone that has lived in the Brightons for any more than 2-3 years. Not sure the same will be said for those people who may be buying the new builds in Brunstane Road, Bath Street or the refurb of the Royal Hotel

As BB points out the rest of the PPM is starting to look very static indeed. The bubble has burst.

BTW Wangi http://www.ros.gov.uk/citizen/shp.html thanks for that, its a great link.