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Belfast Boy

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  1. Belfast Boy

    North Coast apartment boom!

    It's alright having an apartment somewhere warm. Realistically, how often would you be able to use it. Especially if you have family and friends here. As was mentioned on the other thread - 'The Port' is a relatively short drive for most of Northern Ireland. My wife and I are usually there most weekends. We enjoy walking the beaches and coastal paths, lunching in the cafes or dining in the restaurants. Though I avoid the pubs and nightclubs. I'm too old for nightclubs and some of the pubs are a bit dodgy. Too many drunk youngsters. How old am I. We live too close to ever consider buying a place there. Cheaper to pay for a taxi .
  2. Belfast Boy

    North Coast apartment boom!

    At the beginning of last year I posted about the amount of apartments being built at 'The Port'. Here is a link to the thread I hijacked - https://www.housepricecrash.co.uk/forum/index.php?/topic/230893-looking-to-buy-201819/&page=2 I still find it strange that these are all being built at the same time. As I said in the other thread - maybe they are expecting a lot of the Open golfers to settle here. As the signs say - Portrush , the Major golf capital of the world. Portrush - The Vue - https://www.simonbrien.com/new-homes/the-vue-nxld5 - £425,000 Sandy Bay - https://www.bensonsni.com/search/105418/ - £650,000 Currangate - http://www.currangate.com/curran-gate-price-list.pdf - £250,000 to £550,000 Coastal Links - https://www.philiptweedie.com/newdev/coastal-links/ - £140,000 to £395,000 The Kittiwake - https://www.propertypal.com/the-kittiwake-apartments-west-quays-kerr-street-portrush/514507 - £245,000 to - £395,000 Castle Linn - https://www.propertypal.com/2-3-4-bed-apartments-castle-linn-bath-road-portrush/518203 - no prices yet. These would tempt me, if I win the lotto. Dunluce View - http://www.fletchertorrens.com/property/portrush/0001_13354/5-dunluce-view-apartments/ - from £160,000 Portstewart - The Montagu - http://www.themontagu.com/ - £335,000 to £465,000 Atlantic Point - https://www.colliersni.com/development/atlantic-point/CNRDEV51/ - £225,000 to £375,000
  3. Belfast Boy

    Am I mad?

    … you gotta know when to hold 'em, know when to fold 'em, know when to walk away, know when to run... It is a gamble. There is a lot of uncertainty over Brexit which could swing things either way. However, the UK market looks like it has turned down and the Republic's market looks flat. Would we be able to swim against the tide for long. (did you sing the first sentence to yourself?)
  4. Belfast Boy

    Northen Ireland - Brexit impact and House Prices

    Is it time to dust off my old quotes? "Prices continue to rise on dwindling volumes."
  5. Belfast Boy

    And they say history never repeats itself

    Does this mean we are in a 'boom'. We all know what comes after a 'boom'.
  6. Belfast Boy

    Looking to buy 2018/19

    I am the one who should apologise for hijacking this thread to discuss the North Coast apartment building boom. Even if it does remind me of our last bubble in 2006/7. Read zamo's last post. He has given a good assessment of the current economic situation and the possible effects of brexit and interest rates.
  7. Belfast Boy

    Looking to buy 2018/19

    We went up to 'the port' for a drive/walk. I had a good look at the Portrush East Strand apartments. The Vue is actually 11 and The Sandy Bay is 9 apartments. So 50 in Portrush and there will be 46 in Portstewart = 96 new apartments in total. It seems a lot. There must be a reason that these are all being built at the same time.
  8. Belfast Boy

    Looking to buy 2018/19

    It is a nice place to be - if you get good weather. Though it helps if you like beaches and restaurants. I hear it is also good for Golf. On the down side - when there is a sunny summer weekend, you have to accept crowds and long queues. And because of that, I'm not sure I would want to live there. I have travelled a bit too. There are many nicer places with much better weather (where I usually get eaten by bugs). But 'the port' is a relatively short drive for most.
  9. Belfast Boy

    Looking to buy 2018/19

    There is a lot of derelict property in both towns. I noticed that Newcastle Co. Down doesn't seem to have much derelict property. Though the beach at Newcastle is rubbish. The beaches at 'the port' are excellent. Even if the weather is rubbish.
  10. Belfast Boy

    Looking to buy 2018/19

    ... I'm certain there are. I wonder if 3 of those apartments at The Vue are really sale agreed or are the estate agents up to their old tricks. Here are some more - 30 Portrush - http://www.currangate.com/ (the shell has been sitting for 10 years) 22 Portstewart - http://www.themontagu.com/ There will be another 24 in 3 blocks at the crescent Portstewart - called the Atlantic Point apartments. (I think 2 blocks have been built.) There are another 6 beside the 6 in The Vue. So I make that 88 new apartments at 'the port'. ... and there are still some from the 2007 building boom that never sold! It just seems strange that these are all being built at the same time.
  11. Belfast Boy

    Looking to buy 2018/19

    Has anyone been up to 'the port' recently! The amount of flats... cough, sorry, apartments that are being built is amazing. Or maybe it's just because they are located in prominent areas. Here's an example - http://www.simonbrien.com/new-homes/the-vue-bt52-8da-1093 I didn't realise that 'the port' was a haven for lottery winners. Maybe they are expecting The Open golfers might settle down in 'the port'. It is advertised as the Major Golf Capital of the World.
  12. Belfast Boy

    Looking to buy 2018/19

    http://www.theepochtimes.com/n3/2000510-economists-explain-why-our-economy-crashes-every-18-years/ "Harrison predicts the midcycle recession will hit in 2019, and the current property market will peak in 2026 with a severe financial crisis on its heels." Later in the article Amar Manzoor said, "When the midcycle recession hits in 2019, he said, “the effects will be catastrophic as the recession bites as deep as the 2008 crisis." And when the full 18-year cycle comes to an end in 2026, Manzoor said the “un-payable mortgages, catastrophically high house prices, and unsustainable land prices will lead to the greatest collapse in the history of mankind.” Gulp! I have also been reading that drinking is bad for my health. So I have decided to give up reading.
  13. Belfast Boy

    Buy or ( wait ) Rent ?

    I have heard of a sale in Coleraine falling through. It was at the bottom of a chain too. So it's not just Belfast. There is a lot of building going on along the North Coast. Reminds me of the last boom. To the OP: you will have to weigh up capital gains vs capital losses vs renting.
  14. Belfast Boy

    Next House Price Crash?

    I never thought they would manage to keep all the plates spinning this long. The boomers will leave an over supply. Which will have to be bought by the over indebted next generation. Though with all the intervention by the TPTB - unless interest rates rise or lending tightens - it will have little or no effect.
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