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House Price Crash Forum


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Everything posted by mmca22gr

  1. RV is £225k now up to £380k according to TR website
  2. If this house is not back on the market in a few months then you know that some one bought it and got the finance or self financed. Best of luck to them.
  3. the rateble Value is £270k. This is just a line in the sand Not sure I see too many other houses that are almost twice the RV in BT9 or anywhere else. Maybe all the houses in Ravenhill have doubled since late RV revaluation? I doubt it though.
  4. How can the school tell you that already? the criteria is here http://www.stranmillisprimary.org/wp-content/uploads/2018/12/P1-criteria-2019-2020.pdf this is from a 2014 area plan. Green dots are Stranmillis pupils locations which are quite diverse. Rent a house for your application process and then move. If the criteria for this school has always been distance then it looks like people move house further from the school.
  5. But I guess that the buyer knew that when buying off plan. Phase 2 was hardly a secret. They fit well in the street - I guess if your kids fall in the street then it will not be hard to find a doctor and a solicitor close by ?
  6. Sign outside it says sold. Maybe new owners are back to renting it while they decide what to do.
  7. When times get tight the Govt will always look to cut costs and do so in areas where it impacts votes the least - possibly in an area of the country where there are 1.75m people and about 50% of them don't want to be part of your country anyway plus your party (Labour or Conservative) get zero votes. The impact on the housing market will be interesting if the purse strings begin to tighten. A border poll will be very difficult for the Government in the Republic as they will have to answer all the questions about tax and what happens to the NHS etc- it won't be like the EU Referendum where there are lots of unknowns.
  8. With BREXIT expect everyone to feel poorer - and that means little chance of higher house prices - you may find that a good thing or a bad thing depending on your situation. Unless they are going to build a Spitfire factory in Ballymena it really will be very bad all round. Weaker economy in NI and less money to go into the begging bowl. All those nice Civil Servant jobs might just get relocated back to Blighty much like the 300 DVLA jobs in Coleraine. NI costs UK PLC £10bn a year which is almost the same amount of money that was written on the side of the Boris Bus - £192m a week. Soft BREXIT will be bad, Hard Brexit will be much worse and a NO DEAL will be very painful. This could lead to more calls for a border poll as mentioned above in this thread. Whether that happens remains to be seen but the calls for the poll will grow louder. Mr and Mrs Dodds along with Mrs Foster will have their seats in the House of Lords and a nice pension.
  9. The Beacon is an odd one. Trying to extract value from the Planning Permission?
  10. The Balcony is on top of apartments below (accessed from Malone Meadows. Agree - a clever use of space by the developer on a tricky site.
  11. Was on the market for £325k in Dec 2015 before it went to Auction (reserve of £195k) Was this owned by architect who was on Grand Designs? Maybe before 2015. Was also on the rental market before going to auction so it may have been empty for a while hence the dampness?
  12. Horse for courses. Lots of people see buying a house as a way of having somewhere to live in retirement. You can also downsize and bank the money tax free. Also the area you live in now may be very different in 30 yrs time. Look at the holyland and Univeristy area now compared to 20 yrs ago. You can pay rent and then bank/invest the difference between rent and mortgage payments and hope that you get a decent tax free return over 30yrs.
  13. "under planning appeal reference Z/2012/0548/F" This PP has expired and they applied for again (and approved) £500k for a semi is mental. You will be able to hear everything through those walls.
  14. Iceberg II, 47 Knightsbridge Park. Marketed by Templeton Robinson. asking £399,950 I have no record of either being up for rent on propertynews.com website - I just search my daily emails from PN.com to get the prices.
  15. A combination of asking prices for Iceberg I and Iceberg II 20/07/2011 £495k 07/1/2011 £450k 05/01/2012 £400k 26/10/2014 £399k
  16. Apt2, block 2 09/09/2011 offers at £150k
  17. 14/01/2014 Colliers had it on the market as 2 apartments for £195k for both. needed lots of work . No idea what it sold for. 11/04/2105 on the market with Simon Brien for £297.500 16/05/2017 on the market with Simon Brien for £695,000 good luck to them. Someone bought tit and build a big extension etc I did not notice that it had been rented.
  18. Inflation will be more than 2% in real terms over the coming years. As stated earlier in this thread you can borrow for a 5 or 10yr fix at very cheap money. If you have a decent job then it is a no brainer to buy, fix for a longish term at cheap money and move on with your life.
  19. Big data indeed. The numbers are there already and it should not be too difficult to extract and come up with much more equatable system than currently. My proposal proably has some massive holes and loopholes but it solve the problem of 'fairness' in some way. The pensioner who bought a £600k house for £80k 30yrs ago gets a great benefit over time if they do not move house but pay the tax in the early years. There is therefore no need to offer them a 20% discount. The rate can be struck every year to calculate out the £1.3bn required. If there are few transactions in a year then the multiplier is adjusted accordingly. Surely this stuff would be fairly easy to model? a couple of hundred £k to QUB would be a start. If they released the data then it could probably be done for free by interweb nerds. Sale Value, plot size (from ACE maps etc) SqM of space zoned as Residental/Commerical/Industrial. This data exists from the various government sources. Modelling this would throw up some big issues - then you work on solving those. When people buy a house they factor in the mortgage they will pay, the stamp duty and rates to be paid. I don't have a problem with removing the cap but the way in which it will be implemented. Remove the cap when a house sells? In any event a house in Drumbeg on 1.6 acres should not be paying disproportionately less than a house in Cambourne Park. they are only 3 miles apart.
  20. Surely it could? The 'fixed' amount is £1.3bn Setting aside the business rates etc. LPS data should be linked to land registry data. Total value of property according to the land registry based on last price sold (or bequeathed/transferred etc). Maybe readjust the 'value' when someone builds an extension etc. Would the rates fluctuate that much per year? there are certainly ways to tweak the system given the information that is available.
  21. Hard to disagree, but I have a problem with *can* pay more. Tricky to measure - means test everyone? I agree that it is hard to comprehend a system that has a house 'worth' £430k paying the same as one at £400k and one at £1.4m Maybe rates based on the last sale price is the fair way to go? Look at my examples in another post. Both houses selling at above the cap level but vastly different levels of rates paid under the proposed scheme. £670k vs £485k is a 38% price premium. But under the 'no cap' system the rates would be £7,250 vs £2,558 - an 83% premium.
  22. Let's look at some examples: http://www.templetonrobinson.com/property/drumbeg/trltrl78772/40-sandy-lane/ current offer is £485k. RV is £370k house is 263SqM (£1407 per SqM) on 1.6 acres. The rates with the cap removed will be £2558 per year (ie no change as RV is under £400k) http://www.templetonrobinson.com/property/belfast/trlpro3552/4-cambourne-park/ current offer £670k. RV is £1m. House is 422SqM (£2370 per SqM) Maybe on 1/3 acre? The rates with the cap removed will be £7,250 Maybe we should have rates set at the last sale price? So the first house @ £485k = £3,352 for Lisburn council area. The second house selling at £670k would be £4,857. Is that fairer as a wealth tax?
  23. Except it is not a true wealth tax as there are so many exclusions - ie those who get some sort of relief. A pensioner, those on benefits, Landlords, those who pay up front get a 4% discount, Charity shops, the list goes on and on. To suddenly double or triple the tax on someone based solely on the value of their own home is unfair since it is a pretty illiquid asset. A very easy target for Stormont. Why don't we go round every house and value their assets - like their TV, paintings, sofas, coffee machines, cars, clothes and then tot it all up and then tax them on the 'value'? "to have any kind of a cap is grossly unfair" - it could easily be argued that to have any kind of relief is grossly unfair. Why should a landlord get a 10% discount? Why should a single pensioner living alone in a £700k house get 20% discount? If we go that route then I hope that it is phased in over a long period to help people adjust. You may not believe it but there will be plenty of people who will feel the pain of a £100 per month tax increase. "Tough, sell your house then" I hear you cry. A local income tax is fairer but until then at least let's think about who actually pays for this local 'tax'. LPS wrote of £25m last year in rates debt (1.9%) There is £156m in ratepayer debt. Almost 14% of rates revenue is 'lost' in reliefs and discharges per year. £7.5m is 'lost' each year due to the cap. £42m in housing benefit, £43m in rates relief. The lone pensioners cost £5m. It makes for interesting reading beyond the 'tax those who live in big houses'. https://www.finance-ni.gov.uk/sites/default/files/publications/dfp/LPS Annual report and accounts 2014 -15.pdf
  24. Capped Rates in the UK. No real rates in ROI. Why change here? Because they can. And it only affects 'rich' people. Asset rich and cash poor.
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