Darxide

Wow, never seen so many bread related puns in 1 thread. Thank god they didn't built it on the old sewage works

Agree with above, think Japan, long drawn out decline with a few rises, 1 step forward and 2 back for at least 10 years.

Yeah, that bugs me, I live in Dundonald, and some of my post is marked as Dundonald, County Down. And then again, some is marked as Dundonald, Belfast, County Antrim!!! Some people don't even know what county it's in! It's County Down, district of Castlereagh, BTW, nothing to do with Belfast.

I guess it's like any 'average', it gets skewed by the higher end. I doubt that the majority earn anywhere near that, but there are some on really high salarys that will pull the figure upwards. I would reckon the 'true average' in NI to be more like £20K......

Very good article. At least someone in the media has the guts to say it like it is, and not what people want to hear.

Maybe they have crashed 40%, at least on paper, but I'm just not seeing it. In my area, most sellers have only dropped a token 10% from peak, if any at all. And the recovery talk is unlikely to convince them that they should drop more. The 'real' crash has not yet happened. Maybe it won't happen, I don't know, all I know is I earn an average salary, and could not even consider buying a house in the so called 'working class' area I was brought up in.

They have already, hence the need to fire up the printing presses!

I would have to agree with subby. The rises in NI were so out of touch with reality that further falls are inevitable.

I don't think it's anything to worry about. The requirements for HPI are not there, and won't be for years. If you compare this to the last crisis (90's), this one is the big whopper. So it's only natural that it will play out that way, i.e. a bigger/longer spring bounce, bigger bull trap and bigger crash when it happens. And it hasn't yet crashed BTW....

But they are though. The constant ramping is convincing the sheeple that the crash is over. Sellers are holding firm to the high asking prices, and potentional buyers are applying for mortgages in case they 'miss the boat'. They may not get the mortgage, but just by applying, that creates the illusion that the market is picking up, you know, all that pent up demand. It won't restart HPI, but it will maintain the standoff for a long time.......

Is this some sort of prank, or a real newspaper article? Has anyone else read it? I mean, WTF are they smoking?

You honestly can't see the conection between people having more disposable income and a healthy economy?

I notice too that my area, county Down, shows a similar increase on daftwatch. I can't say that I've noticed it myself, I'm starting to get fed up of the same old overpriced tat on PN. I've been watching for over a year, and it's the same old stuff, most havn't even acknowledged the 40% drop we've already had.

Very interesting. But this can be read one of two ways. Is it that people who have been wanting/needing to sell, are starting the beleive the hype, and think they can now get the price they want? Or, is it that they have reached the point where they can wait no longer, and are trying to sell for what they can get? It would be interesting to compare this rise in houses on the market with current asking prices.

Yup, that sums it up for me too. I simply refuse to be suckered into the madness.

I agree with you 100%. I'm not looking for the bottom, I'm just looking to buy a house I can afford. And right now, I can't. But when prices fall to a level I can 'comfortably' afford, I'll buy. And I won't care if they drop further after that, because I'm not in it for the money. I'm in it for the roof over my head.

I beleive it was the lovely Merryn Somerset-Webb who said that a bursting bubble always gives the unsuspecting one last chance to lose money. Or words to that effect. Well this is it.

Ofcourse not, that would be the herd mentanilty many of us are against. I'll buy when I can afford too. And right now, I'm not even close. But give it time.

Glad someone else is in that boat too, makes me feel less alone I too 'missed out' on the pwopertee roller coaster, mates and family derided me for it. Now they look at me like I just murdered a few puppies because I bought £1000 wheels for my car, and paid £3000 for a computer. Hey, I like games and shiney wheels, you like huge suffocating mortgages, thats the choices we make.

I really hope nobody is stupid enough to offer anywhere near those prices.

380 Please.

Agreed, I don't think the younger generation are as stupid as some people paint them. They are now in a position to see the mess their parents etc are in. Hopefully they won't make the same mistakes.

I got this letter from cap 1 about 6 months ago. I took the option to pay it off at the old rate, and I hope everyone else does too. Show them we're sick bailing them out. Now I don't have a CC at all. I'll stick to Maestro thanks.

Reminds me of a guy in a casino who just dosn't know when to quit. "I can make it back! Honest!

I'm not surprised people won't lower the price if the media keep printing this drivel. Most people I talk to are genuinely convinced that the recovery is just around the corner, and they say "We can still afford the mortgage payments, so why sell at a loss? We'll wait and sell later for the 'full' price!" Next year should be interesting...