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House Price Crash Forum


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About The_Equalizer

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  1. The_Equalizer


    Might be something to do with standards of student accomodation rising dramatically over the last few years. If you have a spare five minutes have a look here: QUB - Student Accomodation Then again, it could just be someone cashing in their chips so to speak.
  2. The_Equalizer

    Decent Apartments?

    Rather liked Jane Jacobs work which seemed to make a lot of sense to me, but her theories still seem to be generally ignored by planners and architects to this day.
  3. The_Equalizer

    NI House Prices up 6% why?

    Depends on how far out of Belfast. A good number of sale agreed and sold in BT37 over £250K if it is nicely done. I seem to remember that many people are opting for five year fixed which gives you a good degree of certainty.
  4. The_Equalizer

    NI House Prices up 6% why?

    Fair enough and, when put at 4.8 times full time earnings, it is all a bit scary.
  5. The_Equalizer

    NI House Prices up 6% why?

    Wages were up 4.2% - see NIRSA link in previous post. Average full time wage is approximately £27K. Average house price about £133K (from memory). The demand appears to be there as is the availability of finance. There was cetainly demand in the summer when I was buying and the local market to me - we still have our original house to sell - is certainly on the up. NI is relatively cheap to the rest of the UK and RoI too. Whether they are good value or not is a separate question.
  6. The_Equalizer

    NI House Prices up 6% why?

    It wasn't a justification of prices at either level, just an observation - we were taking about the UK market after all. The original question was about why houses in NI have risen 6% in the last year. I say it is no surprise.
  7. The_Equalizer

    NI House Prices up 6% why?

    I think this is pretty much what I said. Average weekly earnings are about 8% off the UK average based on the figures I produced. NI's house prices are the lowest in the UK (although from memory the North East of England might be lower if looked at by region). Overall houses are less expensive here in NI than most of the UK and possibly the reason why we have stronger house price growth. When I say to folks back in the South East of England that you can buy a house for less than £100K they are amazed. My reference to household income was the fact it is relatively low to the rest of the UK. This might be explained by the large number of people who are 'economically inactive' thereby bring the average down.
  8. The_Equalizer

    NI House Prices up 6% why?

    Without getting into this too much according to the Northern Ireland Statistics and Research Agency: Annual Survey Hours and Earnings - NISRA For Northern Ireland: "Median gross weekly earnings for full-time employees (“weekly earnings”) in April 2018 were £521, an increase of 4.2% from £500 in 2017. This is the largest increase recorded since 2015 (5.4%). " Compared to the UK as a whole: " In the UK, weekly earnings were £569, an increase of 3.5% from 2017 (£550). This is the largest increase in 10 years. When adjusted for inflation, UK weekly earnings increased by 1.2%, which, similar to NI, followed a decrease in real earnings last year. " I assume that the 'problem' with NI is there is a disproportionate number of people who aren't working which skew things like household income. We have the lowest house prices by UK region - see fig. 4 of this ONS report: Jan 20045 - June 2018 House Prices - ONS I did laugh at the graph for the infamous 2007 period where we were top. Basically, if you have a full time job in NI you have access to relatively cheaper houses than a lot of the UK.
  9. The_Equalizer

    NI House Prices up 6% why?

    The local market where I am in Whiteabbey seems to ticking up nicely. We are taking about sub-£100K houses although only just now. NI wages are not that low compared to other similar UK regions. The market in the South East (of England) has definately softened.
  10. The_Equalizer

    Northen Ireland - Brexit impact and House Prices

    I'm not sure the top 1% of the market is a sensible barometer. There doesn't seem to be any problem selling normal priced houses to people on normal income. Anecdotal, but the chap next to me put his house on for £150K (BT7) about two and half weeks ago. It's going sale agreed at around £165K today.
  11. The_Equalizer

    Residential Property Price Index exclusive thread

    This is how I feel. I've avoided buying a house for various reasons, but realise there comes a point when time isn't on your side anymore. You never get the timing perfect otherwise everyone on here would have bought in 2013.
  12. Possibly reinforces the argument, not detracts. I've seen a couple of others in nicer spots near Jordanstown that made me think of you. It does make me laugh about people saying how wonderful BT9 is. It's got some lovely spots, but you've got be in the top 5% of household incomes in NI. For the other 95% compromises have to be made.
  13. The_Equalizer

    Northen Ireland - Brexit impact and House Prices

    You must walk down a different Lisburn Road to the one I do. 😉
  14. The_Equalizer

    Northen Ireland - Brexit impact and House Prices

    Or Lisburn, which takes about 10 minutes if the train is non-stop as I recently discovered. In face, so you long as you avoid Belfast and 'put up' with a small commute it's perfectly possible to buy a nice house without an eye watering mortgage.
  15. The_Equalizer

    Looking to buy 2018/19

    As an aside, the chap next to me at work has sold his house and looking to buy another. East Belfast - Dundonald direction. He's been told on more than one occasion that the stuff he's looking at for £200-250K are being bid on by first time buyers.

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