HERMY

I believe you are spot on here, but try goin back to your Mortgage Advisor in the new year possibly Jan or Feb and you will find things will have changed significantly with lower interest rates etc and LIBOR coming down constantly. You will find £600 will be about right......... I would also imagine contrary to belief rents will go up. REASON - BTL struggling market government will step up and increase paymemts made by DHSS they rise on anual basis roughly 5% also Landlords will be anxious to pay down their balances and are also aware that young people either need to take one for the team and buy a property or else continue renting leaving Landlords in a strong position. In England the rent charged is relative to the Price e.g. house valued at £150k could be getting 800 a month not 450 as in NI Changes are on the Horizon in NI. If you want to rent a decent house you will pay more......... Watch and See

Look I know you are all decent people on this site, but I am only pointing out what I see. I dont want anyone to buy a house and be in negative equity and yes I know what happened in NI was Extreme and Out of This World. If you are in a serious cash position to buy and what I mean is able to buy with a decent deposit their are def bargains out there. Look so many people have different views one guy I taked to said he could see Semi - D' s goin to £6,000 I thought he as joking but he wasnt he wasnt even smiling he was so serious............... That is impossible, absolutely impossible if it does happen there would be no point been in the country as it must have been nucleared out by an atomic bomb. Thats simply why I asked on the other page what price would you pay for an average house in an average town. We can talk about it all day and night but unless the SERIOUS buyers who put their money where their mouth is step forward and put what they would pay then they will never know when a property has reached an acceptable level. If you change the goal posts as time goes on lets say you thought 140 then changed to 110 then 105 before you know it they will have returned to 125 and you will have no option but to pay it or rent for ever. Thats why I am interested to see what people on this site would pay.

No not at all I am subjected to this information via my job through solicitors etc. I am a little like yourself I am only reporting it as I see it

Very good question? ? ? I know my wife bought her first property at 70k a few years ago on a 12k salary with her Dad as Guarauntor. It was tight but she could do it and still ahd a life and that was on her own. She had a car and had all usual expenses you detailed. If you think average rent now £400 - £450 a month. It is nearly back to a level where the difference between buying and renting is negligible again. It is always tight buying a property no matter what with extra fees solicitors etc as well as furniture although people are great at giving donations of their old suite etc and old bed etc u get the idea. Wages have increased since then her equivalent salary if still in same job would be 16 or thereabouts so i would think 90 - 100 afordable with a deposit so a couple can easily go towards the 150 mark. Let nobody tell you owning a property is a cheap exercise, never has been and never will be and thats Ever House Crash or no House Crash

Transactions going through now are not being advertised at the levels being accepted........ So unfort I cant show u, but people are buying and buying cheaply.... oportunities are there If you are waiting for all property to be advertised at bottom of the market prices u will never see it

That wasnt my post above..... What evidence have you that this crash will get worse. I have already seen a 50% drop which is what most people were expecting here in NI. I belive that this time next year the situation will be either catastrophic infact so catastrophic that everyone will be wiped out and I mean everybody Government and all on a Global Scale (The Global economy will do whatever it takes and I mean whatever it takes to ensure this doesnt happen) or we will start to see increase in transaction levels which marks the recovery......... So much has happened recently that so much more can happen in the next 6 Months.... I have asked many people how much a council house should be here is the answers i have got range is 40 - 100k Thats an amazing range......... I know unless Britain goes Bankrupt they will not go to 40k as investors will be snaping them up well before then. If you have nuts u can buy a decent house now at a decent price. If you listen to fear you will become fearfull if you listen to common sense and logic you will see that what I am saying is right Things will only go one of two ways 1) Country goes Bust 2) Recovery starts January in earnst there are already signs out there already Look if you buy now and the country goes bankrupt who cares everyone else is in the same boat but if it recovers people will hold off for the slightly higher prices meaning u may just have missed the Blow out phase.

No I can assure you not a covert Estate Agent although that did make me laugh, It is quite a unique way of valuing stuff though. But anyway, Surely eomeone must have a price knocking around in their head for the average house in the average town,,,,, why else would u be logged on. What would u pay?

Belfast Boy I am trying yto figure you out you are obviously not a first time buyer You are either a Buy to Let Landlord who is losing everything and knows its best to talk it into the ground, or else you claened up during the boom years and enjoy talking the market down so u can get a good old slice of the action again......... Either way your criticisms of others only reflects on your own insecurities

I can tell you from experience on the ground that we have aleady reached the despair level where people will not buy at any price, people are scared they are fearful of what has happened however if you have the balls now is the time to Buy. People who thought they knew better that I talked to 3 Months ago said Oil price will stay up for long time ....................... how wrong was that Interest rates wont drop ........................how wrong was that People are talking to me who are looking to buy.............................................. Positive (figures stand up) If this isnt dispair when a house wont sell for less than it costs to build what would u call it ..................... just curious There reaches a stage things cant get any lower in terms of house prices as it costs money to build them and materials arent getting any cheaper................................... U will never call the very bottom only history will tell you on the way out..........

I know a couple who saved 45k over past 4 years 5k each plus a little interest, makes house cheap at 100 for sure. I wonder what % of people can buy a house for cash. Everyone I know has a mortgage...... I dont think people buy for cash at least not at ftb status anyway.

As it has been discussed before this is not a typical crash as its global, its quick, its fast and its furious. There will be a point when properties fall below the average line in NI...... are we in that period I would say possibly. For those who were waiting on reposessions by the dozen you may have to wait longer or not at all as you have pointed out 2010 should be recovery. If you look at history which yous are basing everything a house rises by roughly 7-8% at a year not the 2 or 3 % discussed by some. NI crashed before the UK mainland and it may even show shoots of recovery. I met a young couple last night who are looking to buy they have 45k saved up that puts them in a really decent position in which they could buy practically anything....... why dont people be positive on this web site......... things were due for correction for sure But the shoots of recovery are out there if u want to see them that is..........

I would imagine it must be a beautiful semi in belfast at 82k in 1998. Thats alot of money in 1998. Considering level of interest rates etc etc

How much would u pay for a house of the following kinds in an average provincial town in Northern Ireland all in average areas etc 1) Semi Detached 2) Townhouse 3) Detached House (4Bed) 4) House in country (4Bed) Any suggestions ?

Its all relative............ point made

Very difficult to save enough cash to buy a house......... at some point u will borrow and why not? I would imagng your father wishes he had of bought those farms if he could afford them he would probably be a billionaire today

All i would say is that you will look at the value of a house today and in 15 - 20 years time it will probably start to look cheap. This is a gaurauntee and I dont gaurauntee anything except over time house prices will ineviatbly rise and some day when you have kids you will remember this whole saga playng out in front of us and the prices on offer and you will probably think that people buying the average house at 450k or the equivalent is madness and who knows maybe it will be. Time always distorts money... My dad was telling me his first car loan for a new car was £400 price of a car in 1970's or there abouts now what £12,000 perhaps ???? Thats a difference of 30 times

I know the situation is unfair trust me i am suffering like everyone else as a result however when has anyone ever turned around and said. Isnt that house exceptional value ......... I have never heard it not once .............. trouble is some people wouldnt know good value until it passes them yet again. Its quite funny to say that cos no-one esepecially older people think something is good value i.e. a house ......... as back in their day the same house would have cost only £10,000 they somehow expect it to return to that but as we all know you couldnt even build a small garage for that today with no insulation etc Would u know good value if it was presented in front of u? In your mind what is good value for A decent council house A decent semi- detached A detached house A decent 4 bed house in the country? ? Please post your results below? All of the above are in an average provincial town in Northern Ireland

We are all agreed the global economy is a mess with too much debt from households to governments to global institutions. How do u solve this? a) Flood the economy with fresh money Money used to be linked to Gold now money is only paper........... when did this change 1930's ? Coincidence. I dont think so Now we are back in a similar situation to then ans we need a solution............. so how does that happen....... How does the government change this again...... they cant do it by each economy acting seperately they can only do it globally hence the G20.... coming together to discuss How is the Uk and US governments suddenly ging to get all the money to pay for the bailouts if less people are working and less taxes paid etc etc This is why I belive we will see something radical... in April........... only tme will tell....... but if it does remember where u heard it first

I belive it is in the best interests that banks reduce their debt levels, i.e. their customers debt levels, savings will still acumulate as people looking to buy a house etc will still need a substantial deposit etc so money will still be deposited. The reason the banks are failing is cos of the debt they hold it is nothing to do with the savers,, sorry savers but I feel you will not be rewarded for saving for a while as people will be encouraged to spend and encourage our economy out of the Great Recession

I am glad I asked you. Thanks for your indepth info and keep up the good work on posting info. I am curious to know Do u think we have reached the bottom yet? after all if detached properties couldnt even make 70k at auction in Magherafelt I would nearly think it can only get better from here on in. Considering it would cost more to built the property etc.. If it gets worse than that we should all move away and forget about buying property at any cost

Do u believe we are near the bottom? Am i right in thinking as an investor U HOLD RESPONSIBILITY for the huge growth in property? Probably wondering how much u have lost recently. Getting the hang of these capitals now......... cheers mate

Next thing we will see will be incentives to encourage first time buyers back onto the market by providing interest free loans etc. I follow the property market very closely and I am undecided as to wether we have reached the bottom or wether it is this time next year I am fully aware of the levels houses are being sold at, and to be honest I believe it is exceptional value, but only time will tell. Two months ago I was sure it would take until 2010 however the speed of this crash i belive is quicker than those of history. Although I have little to no confidence in the government i do believe they are trying to put a ceiling under house prices. I have learnt over time that once the government decide to do something belive it or not it does happen, i have learnt this the hard way. I am expecting huge things from the G20 in April a revaluation of the global currencies should be on the cards which will bring down levels of debt for everyone from the IMF to the Government to the Households............ Anyone else share my views ? ?

Yes true I understand BOE control interest rates etc etc however I reckon we are going to enter a period of time where interest rates remain low for a considerable length of time. I have said this for months and the actions of the BOE to me have been a little delayed this should have been happening more gradually from mid summer. The reason I say this is because I think we can all agree that the economy is in too much debt so how do we clear the excess debt a) reduce interest rates to their lowest value of time and let firstly the banks re-capitalise themselves ensure spending levels are maintainned in shops etc with all this doom and gloom in circulation and last but not least c) allow those who overstretched sorry (bought in the past 4 years) to reduce their excess debt I can see our economy going like japans were interest rates are zero and things seem to tick away nicely. What happened in Japan seems similar to what happened in UK. I would reckon a big fat 1% of tomorrow once BOE release the new cut at 12.00 Remember that customers are only seeing a fraction of the benefits as the banks are taking the rest.

SORRY MAYBE THE ABOVE WAS A LITTLE HARSH !!!!!!! APOLOGIES SORRY I MYSELF WOULDNT WISH IT ON ANYONE THERE IS A LOT OF HEART ACHE OUT THERE WITH JOB LOSSES BECAUSE OF THE RECESSION AND DOWNTURN... WE DO APPRECIATE YOUR WORK ON ANIPROPERTYAUCTION GOOGLEPAGES .................. ITS NOT A PERSONAL ATTACK I JUST QUESTION YOUR MOTIVES???????? HOPE I DONT OFFEND Mod edit - Please stop posting offensive remarks. Please consult the forum rules on the front page before posting. Offensive and insulting posts are subject to moderating. Please post in a normal font without using capitals - Capitals are considered to be shouting. As a newcomer you are welcome here but please take time to read a few threads before launching into posting. Insulting remarks have been removed.

I WOULD IMAGINE MOST OTHERS ON THE SITE ARE SERIOUS BUYERS AND WILL ONLY GO IF A PEOPERTY OF INTEREST IS AVAILABLE. Mod edit: Please check this reference for the forum rules. I am removing the offensive comment to Paul. http://www.housepricecrash.co.uk/forum/ind...?act=boardrules