nigooner

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About nigooner

  1. Low Housing Stock

    This is laughable. Building cost for a typical house is £30k? Are you building a mud hut? A typical site costs £170k? Typical house prices must be around £130k in NI, and you think the typical land value alone is £40k more than this?
  2. 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.
  3. Buy or ( wait ) Rent ?

    What average house price would you think to be sustainable?
  4. 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)
  5. 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.
  6. Bt9

    This is also covered in the book
  7. 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!
  8. The Gallery, Dublin Rd

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

    See a new batch of gallery apartments released on PN today
  10. 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.
  11. The Bakery 2 Months On

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

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

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

    What's up for sale?
  15. Bt9

    Might be owned outright so rent is straight into the pocket