Saturday, Feb 17, 2007
Home-owners net £58bn as house prices hit new high
Belfast Today: Home-owners net £58bn as house prices hit new high
New research indicates the average owner has seen their house rise by nearly £124,000 in that 10-year period.
Ulster property prices are rocketing faster than anywhere else in Europe, with values soaring by 36 per cent in the last year alone.
Posted by david20040_0 @ 03:16 PM (219 views) Add Comment
1 Comment
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1. Shipbuilder said...
Rubbish. As if it needs to be said, home owners haven't netted anything until they sell their house. Behind the spin, however, some interesting reading -
"By 2004 there were over 12,000 vacant properties, bringing the total number of private rented properties to 75,000."
Oops.
"But it also found many landlords have relatively high loan-to-value ratios, with half of them reaching 76 per cent or more."
Oh Dear.
"The experts did, however, urge against exaggerating the risk.
Mr Gray said: "The majority of landlords also indicated that they would not sell up even if they were making a loss, and rely on capital appreciation to consolidate their investment."
AHAHAHA! So, they would not sell up if making a loss because they are relying on capital appreciation. And if the capital appreciation slows to zero? Who puts £200K in a savings account with 0% interest? Exaggerating the risk?