nigooner

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About nigooner

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  1. Buy or ( wait ) Rent ?

    My Original post just said a couple on £25k each to use as an example, i didn't say average salary for NI was £25k. For demonstration purposes in the later example I said average salary (as in the average of the couple) just for continuity.
  2. Buy or ( wait ) Rent ?

    What average house price would you think to be sustainable?
  3. Buy or ( wait ) Rent ?

    £165k house (above average house) -£25k each leaves £20,281 a year after tax -Mortgage for a £165k house, 85% ltv at 4.5% over 25 years costs £786 a month -this leaves over £2,500 pcm for the couple, which gets you a new build 3 bed detached family home in a commuter down 20 mins from Belfast. NI Q1 2017 standardised house value is £124k, so an average house in NI with two people earning £25k gross - £20,281a year each after tax - mortgage for £124k house, 85% LTD at 4.5% over 25 years costs £592 pcm - leaves c. £2,780 pcm for the couple of course, interest rates will go up and other bills need paid and other factors etc etc, but I don't see 3.5x salary as unsustainable for an average couple on average salaries buying an average house and living an average life within their means (if £25k is an average salary of course)
  4. Buy or ( wait ) Rent ?

    Must depend where you're looking. New build detached houses in dundonald and Ards ar selling at about £170k. A couple on £25k each can afford this, and a couple on less can afford new build semis. I wouldn't consider a lending multiple of 3.5x joint income for a new build house unsustainable.
  5. Bt9

    This is also covered in the book
  6. Bt9

    The agent will only receive a percentage of this extra £300, which makes it even worse haha. from what I've been told, the agency gets say 1% of the fee. The agent then gets c.10% of the sales price as their commission. Agents Commission on £150k is £150 for example agents commission on £180k is £180. agree it is not worth their efforts trying to pick the price up. the book freakonomics covers this. Worth a read!
  7. The Gallery, Dublin Rd

    2 bed Penthouse on the market to rent already, for just £1,200 pcm...
  8. The Gallery, Dublin Rd

    See a new batch of gallery apartments released on PN today
  9. The Bakery 2 Months On

    I doubt the agent is concerned about the house selling at £190k or £200k, as long as he gets it sold. The difference in his commission between Selling at £190k and £200k is going to work out at about £10, assuming the agent gets 10% of the agents selling fee, which at most will be 1% of the selling price. The only way I see him trying all the tricks to get £200k is if the vendor has told him we won't accept anything less than that. Then, the agent is incentivised to do anything he can to get an offer of £200k, as anything lower makes him 10% of £0.
  10. The Bakery 2 Months On

    Replacing that would cost well below £10k, even with granite worktops
  11. The Bakery 2 Months On

    Replacing that would cost well below £10k, even with granite worktops
  12. Developers In Trouble

    Saw that today actually, most leases are all pretty short I think (6 years I think).
  13. Developers In Trouble

    What's up for sale?
  14. Bt9

    Might be owned outright so rent is straight into the pocket
  15. Nama Northern Ireland

    According to the blogger, Ronnie Hanna and Frank Cushnahan...although I don't think any news source has published names yet.