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among the bushes

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  1. Yes ,i agree , it will probably pan out at in or around £100k in 2013
  2. Thats the very point Neets,just how many apartment blocks have an hotel facility ? That was a unique selling point,which is NOT now available.
  3. Agents would be crazy in the present market to list stock at unrealistic prices .. What is the benefit? Why would they do viewings /handle enquiries on houses with no chance of selling. Houses are selling at present, as long as the price is todays price and is realistic. Switched on agents will not accept an instruction at a silly . On the repo front ,there are plenty of repos being sold at present , again at whatever they make in todays market. prices are still falling,albeit more slowly. Some of the current buyers know that prices may still fall, but they want to own rather than rent and have got fed up waiting over the last two or three years.
  4. Your/ his best bet is to rent for a year,have a look around to see which area he likes, and then buy in 12 to 18months, when prices will be somewhat cheaper than they are today. Why buy in a falling market unless you have to ??
  5. I am interested to hear your opinions on the effect that the lack of an hotel will have in this scheme? Marketing info promised an hotel, and it did not materialise !! imho the lack of an hotel on site is a significant change .??
  6. The original brochure promised an hotel as part of the complex.This is not now happening !! [in addition to these exclusive contemporary fitted living spaces, the Obel will offer a modern hotel, and entertainment facilities that will make socialising a pleasure for residents, the business fraternity, and visitors alike” Misdescriptions act? quote name=JoeDavola' date='30 June 2010 - 11:02 PM' timestamp='1277935355' post='2599375] The thing is, even £176,000 seems like a lot for a 2 bed apartment to me, but it's good that you have one so high up - that makes it a rare thing in Belfast - an apartment at that altitude with those views. Is there even any other blocks in Belfast at the moment with 17+ floors? I just googled Obel - 28 stories in total! Incredible - the views from the top must be mind-blowing. 233 apartments in total - it will be interesting to see how many of those who bought are owner occupiers and how many bought to rent. On the wikipedia page for Obel there was a link to a topic of discussion on an architecture forum about it, someone else has mentioned the electric heaters: http://www.skyscrape...=713278&page=19 I've not seen the building up close, but from a distance it looks impressive, if only because of the scale of the thing. It will be interesting to see what happens over the next few months - how many become available to buy - how many become available to rent. Are you considering trying to back out of buying it, seeing what you've seen now? If that is the case, your best bet is probably to get a group of people in the same position together and approach this as a group - you may stand more of a chance that way.
  7. Development land is back from £1M/acre average to £600K/acre average. One off sites have not been affected just as badly
  8. I would estimate that out of every 10 house sales agreed, 3 are falling off because of funding probs, 3 are falling off because of lack of confidence and media fright, and approx 4 are completing. Any sales that are happening are obviously at the lowest end of the relevant scale for the type of house.
  9. Not Ballyronan as it happens. It is in a much larger town, where you would have expected demand .(if anywhere !)
  10. Trakion I hear what you say, and agree with some of it. Land prices will/have dropped. Two extra factor that will add to housebuilders costs are 1. social housing quotas of 20% which will have to be factored in. The cost of this comes out of builders profit and will be foisted on the private sales. Secondly the goverment will make developers pay for infrastructure/roads/sewage upgrading etc. This will be passed to buyers. New homes will drop to a level of say £80 to £100K .The factors above and the limited amount of zoned land will prevent falls below this level.
  11. Back in the 90,s it was not unusual for an ordinary house to be on the market for 3 to 6 months, before being agreed. Well located houses, or houses with a special cachet will alway sell quicker though.
  12. I know of a housing development in Mid Ulster, where houses went up to 220K and one has recently been sold for 120K. There are bargains out there ! The houses (3 bed semis) were never worth the higher price, which was merely a "mirage" for 12 months.
  13. Thanks for all the welcomes In response to some of the queries/comments: It may not be 10% .It may be 5%.The factors which will eventually start prices increasing again are, surplus first time buyers in the market, investors coming back in (those that have not jumped or been commited in the meantime )Its down to demand and supply. Supply levels should be ok for the next 5 to 10yrs after this crash, so this should moderate increases. By the way imho the planning process has a lot to answer for, as it was a scarcety of zoned land that fuelled the fire among builders and drove land values up to an exessive level.
  14. Johnny I would suggest hold back from buying at this stage (unless you have to for some reason) Apts are a sure bet to drop further
  15. CPS auction 10th April I havnt time to type each lot address Lots 1-3 incl not sold 4 sold 90K 5 sold 255K 6 sold 209K 7and 8 NS 9 sold £358K 10/11/12 NS 13 sold £200K 14 to 20 incl NS 21 sold prior 22/23 NS 24 sold prior 25 to 36 NS 37 sold prior 38 Sold £150K 39 to 61 NS 62 Sold prior 63 to 71 NS 72 Sold £175K 73 to 87 NS As you can see , a very poor day for sellers. (and a good reflection of the curent state of the market. I have not quoted bids for the not sold properties.I have these, but in my view they are suspect . Approx 50% of the not sold properties did not attract any bids!
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