Caeser Posted April 6, 2007 Report Share Posted April 6, 2007 Looks like the property boom is taking off in Shetland according to Radio Shetland. Anybody have any experiences to confirm this? Is the rental market becoming saturated with buy to let flats in Lerwick etc. Are the private landlords making a fortune? If you are lucky enough to be on the property ladder - lucky you! Don't know what will happen to the next generation. Any thoughts (** mod edit - corrected the thread title **) Quote Link to comment Share on other sites More sharing options...
breeksy Posted April 7, 2007 Report Share Posted April 7, 2007 Judging by the 2 bedroom croft house in the ST this week for £230k it is! Although why anyone would pay that is beyond me - you could buy or build a bigger house for half that. Quote Link to comment Share on other sites More sharing options...
Styles Posted April 7, 2007 Report Share Posted April 7, 2007 Prices have increased very quickly in a short time. Soon be that people on normal wages cannot afford anywhere. Glad I bought my house when I did. Know plenty of folk who have bought houses done nothing to them and sold a year or two years after and made £30-£40 profit. Quote Link to comment Share on other sites More sharing options...
hellsbells Posted April 7, 2007 Report Share Posted April 7, 2007 we bought our house 11 years ago this summer and we did the right thing as it has probably shot up in value! but we don't intend to sell up as we know the only way our son will be able to get on to the property market is through us giving him our house(eventually) Quote Link to comment Share on other sites More sharing options...
Fifi Posted April 7, 2007 Report Share Posted April 7, 2007 Judging by the 2 bedroom croft house in the ST this week for £230k it is! Although why anyone would pay that is beyond me - you could buy or build a bigger house for half that.Yes, it seems a lot, although it does include owner-occupied croft of 21.24 hectares, so not just a crofthouse. Quote Link to comment Share on other sites More sharing options...
crofter Posted April 7, 2007 Report Share Posted April 7, 2007 Judging by the 2 bedroom croft house in the ST this week for £230k it is! Although why anyone would pay that is beyond me - you could buy or build a bigger house for half that.Yes, it seems a lot, although it does include owner-occupied croft of 21.24 hectares, so not just a crofthouse. Plus a couple of sheds. Sheds are always a good investment. Quote Link to comment Share on other sites More sharing options...
Twerto Posted April 7, 2007 Report Share Posted April 7, 2007 I bought my house for 46k, 4 years ago now or is it 3.. anyway got it revalued a year ago and it was valued at 60k. Quote Link to comment Share on other sites More sharing options...
BigMouth Posted April 7, 2007 Report Share Posted April 7, 2007 I bought my house in Sussex 16 years ago for 31k, sold it two years later for 57k, and now it is worth about 225k I am not sure that high house prices do anyone other than estate agents (on a percentage) and building socities (through interest payments) any good. You just end up with a case where the young just can't get a foothold in the market, except by trying to manage debt that they will struggle to pay if anything goes wrong. Quote Link to comment Share on other sites More sharing options...
Colin Posted April 7, 2007 Report Share Posted April 7, 2007 I know some people in Lerwick who built their house just over 15 years ago at a cost of £35k. Just had it re-valued and it tops £325k. Seems like a lot of money for what is, basically, wood. Quote Link to comment Share on other sites More sharing options...
Pooks Posted April 7, 2007 Report Share Posted April 7, 2007 For a lot of places, location is a priority, Lerwick especially. What is basically wood probably doesn't even come into it. The plot is probably worth nearly as much as the house. Quote Link to comment Share on other sites More sharing options...
Rasmie Posted May 14, 2007 Report Share Posted May 14, 2007 apostrophe s -sorry folks went into wrong post somehow? Quote Link to comment Share on other sites More sharing options...
Malcolm Posted May 14, 2007 Report Share Posted May 14, 2007 Watch out for another Shetland property boom after todays BBC1 showing of "To buy or not to buy". Quote Link to comment Share on other sites More sharing options...
abraxas Posted June 6, 2007 Report Share Posted June 6, 2007 Probably like a few others, I am trying to buy into the prioperty market here in Shetland. Real estate is a good investment, I reckoned. I saw the ads in the paper for the last few sites out at Scalloway and called the developer next day. They won't sell them- even tho them being advertised- cuz they want to advertise them "nearer completion". What they mean is, when the valuation price has risen another ten or twenty K. Or more! There should be a law against that sorta thing and these sorta shylocks, cuz as far as I kin see they are artificialy inflating the local housing market to line their own pockets. And thatll have a detrimental knockon effect on buyers and- eventually= sellers when noone from Shetland can afford to buy a house here and all your "soothmoothers" swoop in, like happens down Aviemore and the area there. I used to work in a cafe there when I was waiting for my citizenship, and it was amazing how few local accents you heard - an not just because o tourist! Quote Link to comment Share on other sites More sharing options...
Fjool Posted June 6, 2007 Report Share Posted June 6, 2007 I am trying to buy into the prioperty market here in Shetland. Real estate is a good investment, I reckoned.Usually when people talk about 'property' and 'investment', they're not looking for a family home. Unless you are actually planning to live in the house yourself, then surely you're no better than those whose behaviour you decry? Quote Link to comment Share on other sites More sharing options...
abraxas Posted June 6, 2007 Report Share Posted June 6, 2007 Whoah, hold the bus! You're reading too much into what I am saying, guy. I would look on buying a home rather than renting it as a sound investment, so that I can live there and, th Big Fella willing, if I ever marry and settle down, we can have a good suitable place to live or afford to move up to a better one off of the original investment. Isn't that kinda what anyone buying a home for the first time thinks? Ladders, rungs, that kind of thing? Sheesh, believe me I am no property magnate or landlord, fella, not with my paltry savings! Quote Link to comment Share on other sites More sharing options...
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