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House Price Crash Forum


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About stingray192

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  1. The vast majority of the apartments and houses on the north coast have no mortgage on them, the main buyers are people who have inherited money, sold a larger house to downsize etc, this is the more expensive properties, don’t know about the cheaper properties with no views
  2. My point is demand is high, they aren’t fulfilling it
  3. This is something that is seriously frustrating , a lot of companies are keeping as many of their staff on furlough to save money, this in turn is leaving a lot of businesses running on a skeleton staff, just earlier I went out for furniture for my living room, one of the shops which due to Covid is only open from 10-3 and had one person working over 3 floors there was at least 7-8 potential customers and the girl was under serious pressure, I could of left with half the stock, another shop was only open by appointment due to Covid and the third closes at 12 on a Friday again due to Covid,these are locally owned furniture shops and one was fireplaces, normally they have 6-10 staff at any one time, this was belfast, (I am based in Belfast and Aberdeen) these shops lost several thousand pounds as I went into another shop which was actually open and bought everything there, I have been finding this a lot, people are doing up houses, wanting to move etc etc and yet so many staff aren’t working that you can’t get anything done. even a lot of clothes shops in both places have signs up with extremly limited opening hours due to Covid and social distancing, seriously? If I’m out in town at 9am and the shop isn’t open I’m not going back
  4. I honestly think your buying your family home, your probably going to be in it for years, enjoy it and don’t think of it as an investment, it will be yours to do whatever you want with, with renting there is no stability, you can be asked to leave at any time and you can’t do whatever you want to the house, your new home can be decorated whatever way you want, if it goes down a bit then it’s bad luck, it might also rise a bit but most importantly it’s your own home
  5. I think that there will be price rises and decreases all at the same time, I think apartments in Belfast and other towns could be badly hit as people crave some outside space, blocks that are already less desirable will seriously fall in value, at the same apartment blocks in seaside towns etc may not be as badly hit, I think houses with outside space will continue to sell well, however houses with good gardens and good locations will continue to rise in value, knowing a lot of estate agents , the majority of people are looking for bigger gardens etc. This could also damage a lot of the new homes developments which have squeezed as many houses as physically possible into the tiniest space
  6. Honestly don’t understand why anyone would want to live in a flat anywhere, especially after Covid, I see the future will be people prioritising outdoor space, so think that townhouses, semis and detached will sell well and flats will continue to be virtually impossible to sell
  7. Also a great suggestion, the architect works for me, it’s been a great success, the one thing I wouldn’t do is project manage yourself
  8. I have built a couple of houses over the years and am possibly just about to start again, my advice would be to get a reputable architect and get them to project manage, you will without a doubt spend more but the house will be finished properly, you will have a lot less stress, they have all the contacts in place, you will enjoy your new home, if done right it will also be worth more than if you done it all yourself
  9. I never think apartments represent good value, I think for young people living and working in the city centre it is fantastic for a few years, so rent, long term the management fees add up, they are generally noisy and maintainance can be a major problem, the other thing that no one ever considers when buying an apartment is the lift, windows communal areas etc, a lift in an apartment block has a life of about 25 years max, they don’t put commercial lifts in them, a lot of the main apartment blocks are coming to that age, again doors, windows and communal windows are the same, they all have to be replaced, roof repairs, communal hallways, I realise private houses have ongoing maintainance but this is a expense that a lot of people don’t think about when purchasing
  10. Back in the day it was built to a decent standard but the apartments in particular were tiny, a lot of the two bedroom apartments in the development were less than 600 sq ft, they were mainly £45000, there was a few bigger apartments about 800 sq ft for about £55000 and one much larger apartment that was about £60000 the two bed townhouses are 800 sq ft from memory there was also a few three storey townhouses, these were much bigger and were probably underpriced at the time at £60000 We could of literally sold dozens of them, the entire development looks seriously dated now personally I couldn’t understand people buying the apartments they were so small
  11. It’s over 30 years since these were built I think this version was £48000. This house hasn’t been updated the entire time , even the windows are original, Patton was the developer
  12. It’s a real hard one to call, they are all getting a lot more enquiries than ever, BUT a lot of this has a lot to do with people sitting at home extremly bored, looking through propertypal and passing a few hours, time will certainly tell, I personally don’t want to lose any money of my own house naturally however I a man following things very closely as there is a house I would buy at the right price, no one knows what’s going to happen long term but there is definitely going to be a big recession, the big saviour is the current cheap finance
  13. Obviously my background is estate agency, so have a lot of friends still in the business, currently anyone I’ve spoken to has had virtually no sales fall through, in fact they are being inundated with enquiries, perhaps the boredom of the lockdown, im not sure, finance is still incredibly cheap, I personally think having spoke to a lot of people these past few days that prices here will remain stagnant for a few years
  14. I’m watching this with serious interest, id no intention of moving at all, yet there is a house currently for sale that I would jump at if the price was reduced. It would need to come down several hundred thousand but I’m watching closely , A friends son has just put their house for sale, it’s a 3 bed semi and they have 8 lots of people wanting to view it, it’s only been listed a few days, this says that the current situation isn’t deterring anyone , obviously that might change but at the moment there is serious interest
  15. I know they really dropped, when I first bought I absolutely loved the development , the kitchens 30 years ago started at £30000 , they were ultra modern at the time but I think the original houses look extremly dated
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