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House Price Crash Forum


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About FutureWhatFuture

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  1. What you say just does not tally with the property market in the area over the last five years. The ward itself can be skewed by council housing that remains, it's a well delved theory, gentrification and while the top end of the Belmont Road towards the roundabout has always been above average the bottom end is certainly in that process of gentrification. It may be anecdotal, but it does seem to be a thriving area and you seem bitter about it?
  2. Very good schools, in terms of three feeders and then one large PS for p4-7. Strathearn Grammar and Campbell College (while I wouldn't consider it a good school, the people who go there seem to do ok). Belmont Park and Stormont closeby, easy access to the city, an artsy cinema at the bottom plus all the amenities you could need like a butcher, small tesco, nice restaurants, coffee shops and churches (not my thing but important to many). People seem to be willing to pay a big premium for close to the city plus a village feel.
  3. No matter what you think, the Belmont Road is not a fairly standard area. The terraces are being snapped up by young professionals and the semis and detached houses are snapped up by well heeled families. There is a bidding war on nearly every house that goes up for sale in the area. Places change, while historically it may have been working class and retains that in certain areas, the restaurants, shops and coffee shops certainly disagree with your hypothesis.
  4. @JoeDavola that awful house on Belmont Road is already at offers of £205k. Why anyone would want to get involved in the East Belfast market at the minute is mind boggling, unless you can renovate and flip quickly.
  5. Found this on PropertyPal's awesome Android app - http://propertypal.com/571182 Went to see this when it was previously listed for sale two years ago with AS Estate Agents. It was on for £295. The house is identical to when we viewed it. It didn't sell at that price. Now the EA thinks it's worth £325k.
  6. We were sale agreed on an old victorian three storey semi in Ballyhackamore, below the fire station so not even the best part but the house was period and renovated to what we thought was a good standard. We got into a bidding war on it and we agreed 10% above the initial asking price. The sellers hadn't found anywhere so we said we would be happy to give them six months. They then found somewhere and we arranged a survey which threw up quite a few issues re damp and woodworm which they quoted £15k to fix. We went back to the seller informing of this and shared the report with them, they would
  7. Funny, my wife and I are having the same argument at the minute. We have been in a few new builds recently and have been really impressed by the builds and materials used in the finish, the location of them is my big problem. When we bought what we thought would be our forever home last year we were aware of the problems an old house might throw up like damp etc. I'm happy to deal with this and stay because of the location. She thinks a new build would be a good idea as they are a bit cheaper due to location and there is nothing we would need to do to it. So it is a trade off and only you
  8. Let's face it.. nice areas close to the city will always be expensive, think Holywood, Bangor West, Ballyholme, Hillsborough and nicer areas within the city are getting more expensive. Look at what 250k will get you in Antrim compared to East/South Belfast, there is a reason people are willing to pay it.
  9. And our house prices are nowhere near that of Paris, Manchester, Edinburgh, Aberdeen.
  10. If you think so. I can't see rising interest rates like that for a very long time though, if they do I'm sure you'll revel in other's misery.
  11. I was more thinking about the current rates on the market, more around the 8% mark. Things would be a real struggle.
  12. Completely agree with you. Our entire housing system is based on low interest rates.. I'm just happy I'm in a house that can do me until I die and the value of it has increased by about 5% over what I bought it for last year (from what my neighbour's recently sold for). Back to the house in this thread, I wonder what the bidding is at now. Do I think that house is overpriced? Initially, no. With a bidding war, massively.
  13. I don't think it is too expensive with the cost of credit now. I can't see the cost of credit changing. I don't see huge numbers going bankrupt. If interest rates doubled, then doubled again then we may have a problem. I think landlords were a much bigger problem, I do see the new stamp duty rules having an impact upon this aswell as the change in tax re; btl mortgages. So maybe, good quality housing will enter the market in the next ten years en masse.
  14. Housing is bizarre.. my wife and I are in the 94th centile according to those calculations, yet we struggles. We have a fantastic house in an area we love but it is 130 years old, needs continuous work done to it. We have two cars which are both older than four years. Our problem is genuinely crippling childcare costs which are more than our mortgage. Definitely the entrance of women into higher paying jobs has had an impact and housing is much more expensive for the single person than ever before.
  15. Does it not? I was under the impression dividends were not included in this distribution?
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