Belfast Boy

Money does not buy you happiness, but it sure helps. Buying a house at the wrong time costs a lot more money. I bought a house at the right time. I still remember having little money to spend and not being very happy about it. I currently don't own a house and I've never been happier.

Well it was 2007, but I don't remember any deposit being paid. Maybe contract exchange and completion happened at the same time. I just remember being relieved when the money was in my account.

That's not what I was told when I sold my house.

*** bump *** For new people to read.

... I'm always looking for that one. This is a useful link also - https://www.propertypal.com/price-tracker NISRA - https://www.finance-ni.gov.uk/publications/ni-house-price-index-statistical-reports > NI House Price Index detailed statistics Quarter 4 2019 > Contents > Table 9: NI Average Sale Prices All Properties Q1 2005 - Q4 2019 Here is an updated link to the Nationwide data going back to 1973 - https://www.nationwide.co.uk/about/house-price-index/download-data#xtab:regional-quarterly-series-all-properties-data-available-from-1973-onwards

You may also find this link useful - https://www.propertypal.com/price-tracker It only starts in 2005.

Rateable value is just an indication of the 2005 and 2013 price. And possibly 2023 prices. Before the market bottoms in 2025 at 2002 prices.

That is where you can find out what it previously sold for.

You wanted to know what the price would have been in 20012/13. It would have been roughly £110,000 at the bottom.

House prices fell from 2008 to 2013 - back to 2005 price levels. The rateable values were calculated in 2005. So it is an indication of what the house price was in 2013. To find out previous prices for the property - Joe Devola said - "You have to go down to their offices beside BT tower and pay £5 per property search. It's an eye opener. I've seen examples over over 50% drops logged pre and post crash. Eye watering sums of money lost."

They bottomed out at roughly 2005 prices. That was when rateable values were set. You can also do search on the property to see what the previous selling prices were. For a small fee.

Rateable value was set in 2005. Here is the link - https://lpsni.gov.uk/vListDCV/search.asp?submit=form You can pull out of the transaction at any stage until the money has been transferred from your solicitor to the vendors solicitor. The ball is literally in your court until then. Don't be rushed, it is a big decision and a lot of money.

I was thinking I should change my name to Belfast Bear. If you go down to the woods today...

I though that property prices should have fallen further than they did from 2008 to 2013. After all, they went up 3 times in just 10 years. It will be fascinating to see if prices correct further this time. There are people still waiting for prices to return to normal i.e. 2007. That was a bubble. That was not normal. One of the things you can use to estimate 'affordability' is rateable value. That is roughly where prices bottomed last time.

Oops.... I meant a quarter... doh!