Teabag Head

I wonder will this near neigbour sell for £8K more than the asking price? I can't see it somehow. http://www.propertynews.com/brochure.php?r...=1&sort=h2l

Hi thanks, I agree it's way too expensive, you should be able to get a 3 bedroom semi for £100K anywhere in the UK. But I'm not sure that's ever going to happen though. They don't build enough houses over here so the excess demand distorts the market. But it's different in Northern ireland, right? There's an oversupply of property in NI because of the building boom so the only way for property prices is down? Or have I got that wrong?

Yes, haha, that must be the same flat. There's a nearly identical flat in the same complex for even more, £300K!! I live in London presently and believe it or not £275K for a fairly spacious 2 bed flat, with low service charges, seems cheap(ish). I guess I'm out of the loop as far as the housing market in NI is concerned. House prices are nudging up over here in London/South East (probably temporarily -spring bounce) , are we sure prices are still dropping in Northern Ireland though? I'd like to wait until prices fall further but I don't want to wait forever. thanks

Hi, yes, you're right, the rateable value is only £160K. It's a 'new build' flat ( 5 years old) in BT9, would this explain the big disparity. Or is it just vastly overpriced? I suspect the later.

Many thanks for the advice one and all. I was hoping to get an idea of the true value of a property presently being advertised for sale. So perhaps the best I can do is use its rateable value on the 1st January 2005 and then use the Nationwide house Price figures for NI to measure the price change since then. Using this calculator http://www.nationwide.co.uk/hpi/default.asp?calculate=true the property that I'm interested in (a flat in BT9) advertised for £275K comes out at £198K! That's quite a disparity. Is my methodology fundamentally flawed in some way? Thanks for any advice.

hi, you can check how much a property sold for in England and Wales using a site like houseprices.co.uk that has access to the Land Registry figures. Does anyone know of an equivalent for Northern Ireland? thanks