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House Price Crash Forum


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About Vespasian

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  1. Congrats Paul Just went sale agreed myself before Christmas on a newbuild house Put in a couple of offers slightly below RV over the autumn but got flatly refused, and they're still for sale (People in certain areas still believe all the hype and ********) Anyway, builders under pressure seem more realistic
  2. Congrats man Nicely done We've seen about a dozen houses so far but haven't bid yet, I'll be showing Mrs Vesp your post
  3. That £30k in rent vs £90k in NE doesn't mean you've saved only the £60k difference. People say that rent is dead money, but mortgage interest payment is dead money too aka renting from the bank. Sounds that you would have been £90k in NE and have been paying the bank back £180k (the £90k plus interest) extra over 25 years. Offset this and stamp duty/property maintenance/rates against your £30k and you've easily saved well over £150k
  4. Put it this way - on the open market, its not worth either 245k nor 195k It's only worth what someones willing to pay for it Make your offer and wait, if its refused, the house isn't really for sale. If "other bidders" emerge, be sceptical
  5. Nice post I used to post a lot but rarely do now, still renting and looking - have yet to put anoffer on actually I'll start looking again in September but asking prices are still sticky I've got too used to paying no rates/property maintenance/buildings insurance! pretty impressive at 50k posts - well done
  6. Truly appalling, I will continue to never buy a copy of that rag
  7. Good to see unbiased reporting, lol http://www.belfasttelegraph.co.uk/news/local-national/northern-ireland/northern-ireland-house-prices-still-falling-16165077.html Northern Ireland house prices 'still falling' Tuesday, 29 May 2012 Thirty-five per cent of properties in the survey of 115 estate agents sold at or below 100,000 pounds House prices in Northern Ireland are still heading downwards, University of Ulster research shows. Fewer than 1,000 sales during the start of this year reflects a lack of confidence from the poor performance of the UK economy, with buyers deferring decisions because of economic uncertainty, rising bills and concerns about job security, the report's authors said. The number of deals in the first three months of this year was slightly down on the last three months of last year. The overall average price of a house for the first quarter was £134,560, representing an annual decline of 10%. Alan Bridle, UK economist at the Bank of Ireland UK, said: "I believe the price correction in Northern Ireland is well advanced. The gradually slowing pace of annual price decline may be evidence of this. "There are pockets of improvement in this survey, with the average prices now better aligned to local household incomes. However, given the wider economic backdrop and the availability of discounted properties, the short-term risk is that the market will overshoot on the downside, as it did on the upside." The University of Ulster Quarterly House Price Index did detect price increases in certain property types in some areas of Northern Ireland. It highlighted the availability of affordable properties: 35% of properties in the survey of 115 estate agents sold at or below £100,000 and more than 70% sold for £150,000 or less. The new-build sector of the market represented a third of all sales, although this is an over-representation that reflects difficulties in the market for existing homes, the report says. Housing Executive head of research Joe Frey said: "This year's review of Northern Ireland's housing market confirms that it will be another very challenging year, not only for first-time buyers but also for many existing home owners. "It is important that government and the private sector work together to come up with strategies to address the challenges."
  8. Superb really Couldn't have thought of a better or more comprehensively designed report, its the only kid on the block now Next one due at the end of August - nice No doubt the index will go below 70 in the next couple of years
  9. Don't buy unless you have to, we're not at the bottom yet
  10. http://www.demographia.com/dhi2008.pdf Q3 2007 - ratio 8.8 for Belfast
  11. And RoI is actually looking cheap (multiples under 3.0) - how things change
  12. I was at QUB, and on St Paddy's day drinking started in the Crescent night club from 1-6pm and followed by food and off to the Union for 8pm and a big push through to the wee hours. Nobody was fighting or rioting though out in the streets - the drink was dirt cheap in those days so nobody drank at home much. The "Cres" had offers like "buy a tin of Budweiser, get 2 free" and 50p pints of Guiness - happy memories
  13. Obviously she should sell the house she cannot afford to live in How long has she been in it for?
  14. Blah, Blah, Blah Change the record, man Asking prices are still being slashed across the board week after week, until this changes prices will never stabilise
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