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House Price Crash Forum

Belfast Boy

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Posts posted by Belfast Boy

  1. 3 hours ago, Ausdave said:

    Buy it, live in it, enjoy it and live life.

    Money does not buy you happiness, but it sure helps.

    Buying a house at the wrong time costs a lot more money.

    I bought a house at the right time. I still remember having little money to spend and not being very happy about it.

    I currently don't own a house and I've never been happier.

  2. 18 minutes ago, nigooner said:

    Maybe your contract had conditions in it- subject to finance/survey etc? 
    But if it is an unconditional contract, then you can be pursued personally for the full amount. That’s the whole point of a contract, otherwise they’re worthless

    Well it was 2007, but I don't remember any deposit being paid. Maybe contract exchange and completion happened at the same time. I just remember being relieved when the money was in my account.

  3. 1 hour ago, nigooner said:

    This is not true. You can pull out of purchases provided there are conditions in the contract allowing you to do so. If you’ve signed an unconditional contract and and paid a deposit when exchanging contracts and you haven’t completed by the completion date, the vendor can serve you a notice to complete- you’ll then have 14 days to complete. If not, the vendor keeps your deposit and can pursue you for the balance of the sales proceeds. 

    That's not what I was told when I sold my house.

  4. On 26/11/2009 at 11:41, getdoon_weebobby said:


    RV website new link to get to it

    ... I'm always looking for that one.

    This is a useful link also - https://www.propertypal.com/price-tracker


    NISRA - https://www.finance-ni.gov.uk/publications/ni-house-price-index-statistical-reports

    > NI House Price Index detailed statistics Quarter 4 2019

    > Contents

    > Table 9: NI Average Sale Prices All Properties Q1 2005 - Q4 2019


    Here is an updated link to the Nationwide data going back to 1973 -



  5. 7 minutes ago, sp84 said:

    Ok so I just typed the address into the link you have given me ... It says that capital value non-exempt is £110,000 ... What does that mean? 

    Or do I have to hit submit application in order to get it's value back in 2012?

    House prices fell from 2008 to 2013 - back to 2005 price levels. The rateable values were calculated in 2005. So it is an indication of what the house price was in 2013.

    To find out previous prices for the property - Joe Devola said -

    "You have to go down to their offices beside BT tower and pay £5 per property search.

    It's an eye opener.

    I've seen examples over over 50% drops logged pre and post crash. Eye watering sums of money lost."

  6. 4 minutes ago, sp84 said:

    Ah ok - what sort of corresponding affect on house prices would that have ? Obviously I know less income = lower affordability. 

    I have been trying to find out what the house I'm buying would have bottomed out as in 2012 ! But I have absolutely no way of finding out that information.

    They bottomed out at roughly 2005 prices. That was when rateable values were set.

    You can also do search on the property to see what the previous selling prices were. For a small fee.

  7. 18 minutes ago, sp84 said:

    I'm not too sure what this means ? 

    Thank you ... 

    Tomorrow I am due to meet my solicitor to discuss and go over the paperwork ... My guess is that it will be with a view to sign it next week. 

    It is probably much too late into the game to discuss price discounts and reissuing of mortgage contracts. 

    I honestly feel like being sick 

    Rateable value was set in 2005.

    Here is the link - https://lpsni.gov.uk/vListDCV/search.asp?submit=form

    You can pull out of the transaction at any stage until the money has been transferred from your solicitor to the vendors solicitor. The ball is literally in your court until then. Don't be rushed, it is a big decision and a lot of money.

  8. 22 minutes ago, sp84 said:

    Should that technically not mean that prices so not have "as far" to fall as they did in 08? 

    I'm not sure what a property and economy bear is haha!

    I though that property prices should have fallen further than they did from 2008 to 2013. After all, they went up 3 times in just 10 years.

    It will be fascinating to see if prices correct further this time. 

    There are people still waiting for prices to return to normal i.e. 2007. That was a bubble. That was not normal. 

    One of the things you can use to estimate 'affordability' is rateable value. That is roughly where prices bottomed last time.

  9. 3 minutes ago, sp84 said:

    No I do not think they will rise - hence my anxiety over the entire situation and the reason why I brought up unemployment. Which I do think will rise.

    Personally I am perfectly happy if there is no rise in prices as it is not a short term investment for me. It is my £155k house dropping by £50k that frightens me -  I am obviously not sure how realistic/unrealistic that is. 

    Can I ask what you define as crashing? ... That is why I had asked the question about 08. I had no idea that prices were rising 15%-20% per month. I knew they obviously sky rocketed, but I was unaware it was by that percentage. 

    That links to a point I had made in an earlier post - in relation to house prices currently not being overinflated to those levels this time around. In NI it has been a gradual year on year increase since 2012/2013. 

    Should that technically not mean that prices so not have "as far" to fall as they did in 08? 

    I'm not sure what a property and economy bear is haha!

    Oops.... I meant a quarter... doh!

  10. On 22/07/2020 at 12:03, sp84 said:

    I know I'm a pain in the **** lol but can I ask about 2008 and what way the prices fell? Were they incremental? I think I had read that they bottomed out in 2012? So it took 4 years of gradual falls. 

    The market stalled in the middle of 2007. Prices didn't fall much that year, but volumes collapsed . Then in 2008 prices started falling the way they went up. They were going up by 15-20% a quarter. That reversed in 2008. Most of the falls happened in the first 18 months. Then a gradual decline for 3 years.

    I have a questions for you - do you think house prices will go up in the next year? Or do you think they will start crashing?


    I think you mentioned unemployment in one of your posts. Unemployment started falling at the end of 2012. Just as house prices started rising. What do you think is going to happen to unemployment over the next few years?

    My opinion is that the economy has had a heart attack and the government is pumping in as much of the debt drug as it can to keep the patient alive, but there is a cliff ahead.

    House prices...wile_coyote_1005.jpg.067e913d16598e1e5990ee37df62b11c.jpg


    Full disclosure - I don't own a house and I am an economy and property bear. DYOR

    Good luck. You are going to need it.

  11. 1 hour ago, debtlessmanc said:

     “the uk is worse than the rest of the eu”

    I am occasionally exposed to the reporting that happens in the Republic of Ireland. It is refreshing to see journalist and people in general being supportive of their government and country. The majority of the UK journalist reporting appears extremely divisive. The UK reporting appears designed to influence the sheeple and not just to inform them.

    Of course, Ireland hasn't had a government for over 4 months - https://www.rte.ie/news/2020/0605/1145777-government-formation/

    I remember finding this website 13 years ago. I was quite naïve back then. I would post links to media articles and always found the comments here were far more informative than the articles. Has this website lost that ability to inform? There are several, very active members who are obviously pushing their own personal agenda while mobbing and decrying the opinions of other members. Maybe it was always so, but now I am less naïve. However, I do wonder did Brexit polarize the HPC community as it did the rest of the country. The discussions certainly seem far more politicised than I remember.

  12. 1 minute ago, smash said:

    The Laura K interview you can't recall but "witnessed" c'mon bro you BSing me. You were talking about the Cathy Newman Jordan Peterson interview.

    No, someone else posted the Cathy Newman interview. I said the analysis on it is fascinating.

    Are you Laura Kuenssberg or Cathy Newman? 

  13. 34 minutes ago, smash said:

    So you were referencing that then and not a fictitious Laura K interview?

    Many journalist are using this method - not just the Laura Kuenssberg interview I witnessed.

    The video MARTINX9 posted is an interesting example. 

    They may as well go, "I will now tell people what I wanted you to say."

  14. 12 minutes ago, smash said:

    Well if the person being interviewed is a public figure its important to get them them to clarify, they are so often slippery. I take your point that words could potentially be put in someones mouth but MPs and others should be able to communicate effectively such that it doesn't prompt any request for clarity.

    The original answers were clear. It was a blatant attempt to put a spin on the answers. Like I said, journalists are trying to make the news not just report the news. 

  15. 56 minutes ago, MARTINX9 said:

    Still at least the New Statesman had the integrity to report on things.

    The mainstream press seem so biased these days. Always trying to twist stories to suit their agenda. Journalist asking, "Are you saying this...?" Trying to make the news not just report the news.

     People pushing agendas are everywhere these days.

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