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interested bystander

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About interested bystander

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  1. Check out this article from today's Irish Times: Ireland’s priciest road just got cheaper with financier Derek Quinlan selling at a level that will shock neighbours... http://www.irishtimes.com/newspaper/property/2010/0930/1224279983895.html
  2. Housing Executive Property Sales (in Derry) Plummet by 97.5% http://www.derryjournal.com/journal/Execut...t-by.4858779.jp
  3. Bankruptcy Epidemic Hits Derry http://www.derryjournal.com/journal/Bankru...erry.4256374.jp "We can't get away from the fact that Derry is drowning in debt"
  4. Wow, thanks for taking the time to write that response - this is really helpful. I'm in a very good final salary pension but will definitely look in the SIPPs option. What you're saying about continuing to drip money into equities (reducing average costs per unit) has always been my understanding for long term investing, but it just seems counter-intuitive now in the current market. I suppose I'm looking for someone with a bit more knowledge than me to say that it makes sense..... Thanks again!
  5. I've got 6 months living expenses in Cash ISAs and am maxed out on this year's cash allowance. I also have a £50k str fund in a Nationwide bond to help towards a deposit in 5+ years time. As well as saving my maximum annual allowance in Cash ISAs my long term plan (25 years ahead) has been to drip several hundreds of pounds a month into equity ISAs, in my case, two F&C managed funds (one UK growth, the other Europe growth). The forecasts for the stock market for the next 2-3 years are not good and I'm now nervous about continuing to drip money into a declining market. My question is this. Taking a long term stance, does it make sense to continue to drip money into equities over the next couple of years, in a falling market, or should I try and keep all savings in cash??
  6. Aye but don't worry folks everything is grand in Derry http://www.derryjournal.com/journal/Proper...s-of.4240147.jp Derry's stagnant property market sprung back to life last month, according to a city estate agent.
  7. Apologies if this has been posted elsewhere, but the 'Poverty Map' of the UK on the BBC's website highlights the fact that Northern Ireland "it is getting poorer while the rest of the UK, apart from the north east of England, seems to be getting richer." http://www.bbc.co.uk/blogs/thereporters/ma...rty_in_the.html When you compare NI house prices to the rest of the UK it's obvious that they've got a long way to fall....
  8. Sorry, I thought this deserved a topic on its own. Headline news on BBC Northern Ireland....... http://news.bbc.co.uk/1/hi/northern_ireland/7375026.stm
  9. I STR here in Oxfordshire in December and will continue to rent for the forseeable future as the place I'm in is feckin fantastic and somewhere that I couldn't ever afford to buy. At the minute I could see myself buying a holiday home in 3-4 years time back in NI, maybe around the Fermanagh lakes with my STR fund....
  10. According to This is Oxfordshire, properties in Oxfordshire continue to rise : http://www.thisisoxfordshire.co.uk/news/ti...ck_uk_trend.php
  11. From today's Derry Journal: http://www.derryjournal.com/journal/Estate...rket.3948581.jp Estate agent fears housing market crisis A Derry estate agent last night warned that the city could be on the verge of a housing meltdown. As evidence released this week predicted a serious crisis in the local housing market, the 'Journal' has been told repossession orders are increasing, while those in trouble with their mortgage payments are unable to sell their houses to clear their debt because of an almost stagnant market. Already an unprecedented number of houses are up for sale in the Derry area. Earlier this week Mike Smyth from the University of Ulster predicted the housing market in Northern Ireland could see falling prices for the next three years. Charlie Gallagher from Oakland Property Services said the international credit squeeze, the suspension of co-ownership and a lack of first time buyers could see the market grind to a halt. Rosaire McLaughlin, debt counsellor at Dove House said that on her books she had three people facing repossession orders, and homeowners with more than £1m of mortgage arrears. "People on fixed rates who have had to renegotiate their payments have been hit hard," she said. "And they see no point in selling their house because the market is so slow." A mother of two who contacted the 'Journal' said her monthly repayment has increased from £825 to £1,250 after her fixed rate term ended. Pat Dunne from Dunne Financial Services in Derry said that house prices in the city had increased without a rise in income to match it. "My advice for anyone who is about to come out of a fixed rate term to seek advice from a financial adviser as soon as possible," he said. Charlie Gallagher, who has more than 30 years experience in the property business,estimates that currently 1,500 properties are on the market for resale in Derry, more than twice what you'd normally expect. "People still want to sell their houses," he said, "but if the supply is big and demand is small, prices have to come back to meet that. Some people are not accepting that prices are having to change and saying they want to keep their house on the market. People have to be realistic." Mr Gallagher said the housing boom Derry saw in the last three years couldn't be sustained. "We've never seen the like of this increase," said Mr Gallagher. "What's happened is that first time buyers have been pushed out of the lower end of the market. Their incomes mean they don't qualify for a mortgage and many lenders are now asking for a 10% deposit. For an £180,00 house that's £18,000. "We need to get the first time buyers back. They are the most important buyers on property chain because they have nothing to sell. Without them the market will grind to a halt. If no one is buying at the lower end of the market, no one else is moving upthe market. "This is a time for great concern," said Mr. Gallagher, "house prices need to be corrected with money readily available for borrowing." In the last quarterly review by the University of Ulster in February it was revealed that the average price of a house in Derry was now £209,273.
  12. I sold in Witney in September, completed in December and got full asking price. I was sure that the buyer was going to come back and try to renegotiate closer to exchange, as that's what I would have done! I'm now renting and don't plan to get back on the ladder anytime soon. Prices in Oxford have a long way to come down before I could afford to buy and although I saw the HPC coming I can't help but think that Oxford might not be too badly affected (unfortunately). Having said that, if you walk past Cluttons you'll see lower revised house prices stuck over the original prices in their window. There's a lot of money in this small city and high demand for the schools so, unfortunately I don't think prices will drop that significantly which means I'll be renting for a long time, which, to be honest, doesn't really bother me that much.
  13. I've got about 6-8 months expenditure put away in savings, no debt, and an additional £50k 'house money'. In the event of job loss and recession I'd really have to batten down the hatches and stretch my savings as far as I could....
  14. There's an interesting article here on USA's msn about housing in the States: http://articles.moneycentral.msn.com/Banki...ndForYears.aspx The reason I mention it in this thread is that the figures they give seem to indicate quite a time lag between house prices peaking and then bottoming out. If I've understood it correctly it seems to have taken on average around 3 years for this to happen. So, if you accept that house prices have now peaked it might also be the case that here in the UK it'll take some time for things to bottom out.
  15. Hi, I'm mid-30s with wife and young daughter. We're in the process of selling our house in Oxfordshire (OX28) and we're going to rent for a while as I think things could get hairy on the housing front. We could afford to buy a £300k property but I refuse on principle to pay for something that's so over-priced. I'm getting off the bandwagon while I still can...........
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