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House Price Crash Forum

Traktion

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Everything posted by Traktion

  1. I think you may be on to something there. I get the feeling that people didn't really believe or understand why the prices were going up so much, but figured they had to either get on the ladder quick or not bother at all. I think we have now entered the "not bother" phase! My gf was speaking to her father who was asking about a house on her street (in Newcastle, Down) that was for sale. She said it went on for £210k and his immediate response was to ridicule it and ask how much it had dropped to now. She told him it had dropped to £200k two weeks later and he replied with something like 'it will drop a lot more than that'. I know that is only one person's sentiment, but I get the feeling the average soul just thinks the pricing is ridiculous and it has to stop. With the prices in NI going up so sharply too, I think many people just think that the houses just aren't "worth" that much, as they weren't just 2 years previous. I get the feeling the market may drop pretty quickly now the investors have pulled out (so they say) and people will start to believe the prices will return to what they were just a couple of years ago. To be honest, I can't argue with that logic and I'm sure many others won't be arguing too. Someone made a good point about the majority of people having bought around or before two years ago not having to sell at an inflated rate, also. That *really* got me thinking about how different the market is from the rest of the UK and how easily/quickly it could come back down. If a person who bought their house at £100k has to sell at £120k, instead of £200k (for instance) at today's prices, then are they going to worry? I doubt it - they've still "made money" and sold their house for at least as much as they thought it was "worth" (rather than a daft price). It will be interesting to see what happens over the next 18 months, for sure!
  2. btw, I checked back on this thread to a month ago - it's gone up 2500 since then! It's still on the fast increase, for sure!
  3. JCB have said they'd be interested in buying Jaguar in the recent past... you never know
  4. Yeah, she knows it's going to be tough (she is an upper, primary teacher), but she is prepared to work other jobs, temp etc until she can find the right job. She has lots of good experience from working over here, so here is to hoping something will come up. Luckily, I run my web development business from home (over the net/phone, so I can work anywhere) so hopefully I can cover the bills until she can get a good job. It's good to hear there is subbing work though!
  5. Thanks for the welcome! Yeah, the more I look at rental prices vs purchase prices, the more I think renting is the best way for the time being. Besides, I've never lived in NI before, so it's probably for the best to "try before we buy", although I'm sure I'll like it! My girlfriend is a teacher (needs to find a job too!) and lots of her teacher friends have come over to teach in England. Almost all of them either say they're going to go home again or are in the process of moving this summer. I'll soon see what all the fuss is about, either way!
  6. I'm planning on moving to NI with my girlfriend. She is from NI and has been planning on moving back "home" ever since I met her. We were going to buy, but from looking at the house prices vs rent prices, renting looks the far better option. I've been reading this forum for a while with interest and I'm hoping that the NI market will drop back down again and regain some realism over the next years. I wonder though, as the price rise has been so sharp, maybe the drop will be sharp too. I'm thinking this may be a *good* thing, as any long term land lords will have bought before the rise and will probably be unaffected. Sure, BTL may be an issue, but as it seems most of the rises have been over the last year, I'm guessing there will be fewer BTLs mortgaged up to the hilt. Here's to hoping anyway! I'll be keeping an eye on the market regardless, but we're both definitely wishing we had moved house a couple of years ago! P.S. we both currently live in Southampton
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