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House Price Crash Forum

fivecups

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Posts posted by fivecups

  1. The old adage of "renting is dead money" just does not ring true any more.

    In many areas it is considerably cheaper to rent than pay an interest-only mortgage on an identical property (the equivalent of renting from a bank or building society.)

    Renting is even greater value when the cost of maintenance, rates and wear and tear are factored in. Would-be buyers should consider putting their plans on hold and have their rent effectively subsidised by the current raft amateur speculators.

    Money saved can be put towards a deposit at a time when market prices are more closely linked to reality.

    It is also worth bearing in mind that other parts of the UK, which have experienced a similar boom, are now witnessing price falls.

    I guess the lost money from renting comes from the current rapid growth in house prices. Im selling an apartment at the moment that Ive owned for five years. Apartment prices rose by 30% last year. Mine has risen at least that in the past year. After giving serious consideration to renting or 'getting out when the going's good' Ive bought a semi. House prices probably have a bit further to go before they peak and/or fall. And have house prices in NI ever fallen that far before?

  2. Anyone labouring under the delusion that NI is cheap should think again. This property is in a nice suburb of Belfast, the sort of place lawyers, doctors etc would live.

    Belfast

    These are London/SE prices, to live in a place that effectively has no economy other than government jobs.

    Scary.

    Im curious about this. Having lived in Northern Ireland all my life Im somewhat naive to prices in the rest of the UK.

    Firstly, that is a top area of Belfast, highly exclusive.

    Is there a general feeling that NI is getting too expensive, because house prices are flying at the moment. Houses throughout NI are selling at well over the asking price, many in Belfast are going for 15-30% over.

    But whilst this is happening I cant get rid of the nagging feeling that all this could soon change. Opinions?

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