Ballyk Posted October 2, 2008 Share Posted October 2, 2008 not a peep from our cheerleading pompom waving idiot recently Who on earth could you be talking about? Surely not Helen 'Frank' Carson! Quote Link to comment Share on other sites More sharing options...
Malthus Posted October 2, 2008 Share Posted October 2, 2008 http://www.belfasttelegraph.co.uk/news/loc...9524.html?r=RSSBreaking news form the Bel Tel - we are crashing i note they had to get Victoria to re write the Nationwide report , Helen must still be in the HPC re-education camp Quote Link to comment Share on other sites More sharing options...
Traktion Posted October 2, 2008 Share Posted October 2, 2008 But Nationwide said the fall must be viewed in context: "The 30% drop still only brings the average house price down to where it was in the third quarter of 2006, since between 2005 and 2007 house prices in the province rose by a staggering 80%." Don't you love the way they state this? All it makes me think is how ridiculous the prices got and therefore how much further they have left to fall... Perhaps they're hoping to reassure people that if you bought before Q3 2006 that you're unlikely to be in negative equity... yet... It looks like we're half way to my 60% prediction and we're only about a year in. Another two years of gradually slowing price falls would easily hit 60% IMO. There seems to be no sign of the falls stopping either, with treesdontgrowtothesky showing increasing numbers of big (ie. 10%+) cuts in prices. Finally, it continues to annoy me when they go on about this being bad news. It's not bad news, it's good news. Prices were ridiculously high, completely unsustainable and we're seeing the fallout throughout the financial sector now. Once prices return to sanity, the banks can start lending properly again and we can put this whole sorry mess behind us. Quote Link to comment Share on other sites More sharing options...
shipbuilder Posted October 3, 2008 Share Posted October 3, 2008 'Smiler' Robinson tells a bunch of bankers that falling house prices are a good thing..... http://www.newsletter.co.uk/news/Why-North...look.4555544.jp ....about 3 years too late.... Quote Link to comment Share on other sites More sharing options...
FrustratedFTB Posted October 5, 2008 Share Posted October 5, 2008 (edited) More of an advert then reporting! Maybe this is the next bubble! Hurry up and get a wedding planner booked before you miss the boat! Cash-strapped Ulster couples choose between wedding and houseBy Linda McKee Saturday, 4 October 2008 Young couples are choosing between buying a house and having a wedding as they tighten their belts, according to a top Northern Ireland celebrity wedding planner. Anthony Millar - one half of wedding planners Ant and Dick - says people are getting very nervous about having weddings in the current economic climate. But he insists it is more than possible to hold a memorable wedding while saving thousands of pounds. "Not a lot of people can afford to buy a house at the minute and they're worried about the cost of a wedding," he said. "I think in all honesty - although I'm not an economist - that there's a lot of over-panic on what the situation is. I think the wedding suppliers in Northern Ireland are much more reasonably priced compared to the UK. "I think there's a bit of the panic button going on at the minute, but it doesn't need to be like that - people can do it themselves and make it gorgeous." Ant and Dick are resident wedding planners at Wedding TV which is covering the Wedding Extravaganza at the Odyssey Arena this weekend. They will be on hand at the show to offer advice to brides-to-be, performing makeovers and hosting the bridal catwalk. The pair can also offer advice on credit crunch weddings and how to have your perfect day without breaking the bank. "There's cutting costs, there's cutting costs and then there's seriously cutting costs, " Ant says. If you're hellbent on having a huge celebration at a venue, wedding fairs are ideal for picking up deals, he says. "If you book there and then, you can attract major discounts. And haggle - you have to treat them like Turkish stall holders," he says. "There's also the option of doing it at home. We all know somebody with a big house or a big garden. It's all about roping in the people around you. A friend can take photographs, a friend can do the cake, a friend can do the stationery. "The services you would normally hire - most of them can be done by anyone. You could do your own catering - it doesn't have to be a five course meal. It can be a beautiful buffet." As for the dress, many brides are now saving hundreds by going for vintage instead of new - after all, you only wear it for one day. "If you go online to eBay or Oxfam, you'll find designer dresses for pennies because a lot of people want rid of them - for whatever reason,"Ant says. "As for the flowers, rather than having a huge big bouquet, a nice single flower like a lily or a gerbera can be very effective. You can create a really stunning piece by doing very little." The groom's attire can be picked up in a high street shop such as Primark, which are doing nice suits for around £40, he says. "Stick on a couple of nice accessories and it looks like you've paid a couple of hundred quid," he says. "And if you're buying your drinks in the supermarket, go for what's on offer. How people judge a good wedding is not the food or the flowers but how drunk they get." Eco-friendly couples will also find that by counting the pennies they are also helping to save the planet, he points out. "If you're having your wedding at home, you're automatically cutting down on the services that would have to be driven in, so you are cutting down your carbon emissions. A reclaimed dress is eco-friendly because you are recycling," Ant says. The Wedding Extravaganza Show takes place in The Odyssey Arena, Belfast, from October 3 to 5. Tickets can be purchased in advance from the ticket hotline on 028 9073 9074 (priced £9) or at the door on the days of the show at a price of £10. For more information go to www.weddingextravaganza.co.uk. http://www.belfasttelegraph.co.uk/news/loc...e-13992912.html Edited October 5, 2008 by FrustratedFTB Quote Link to comment Share on other sites More sharing options...
JoeDavola Posted October 7, 2008 Share Posted October 7, 2008 Co-ownership gets £35m funding: http://news.bbc.co.uk/2/hi/uk_news/norther...and/7655952.stm People will be queing up to 'take advantage' of co-ownership, even though prices are already down 30% and should continue to fall. Quote Link to comment Share on other sites More sharing options...
Malthus Posted October 7, 2008 Share Posted October 7, 2008 Co-ownership gets £35m funding:http://news.bbc.co.uk/2/hi/uk_news/norther...and/7655952.stm People will be queing up to 'take advantage' of co-ownership, even though prices are already down 30% and should continue to fall. this could be good news for falls if no one takes advantage of this offer Quote Link to comment Share on other sites More sharing options...
shipbuilder Posted October 7, 2008 Share Posted October 7, 2008 this could be good news for falls if no one takes advantage of this offer I think people will pile into this. There's still a well entrenched belief out there that renting is the equivalent of jumping onto a bonfire of your own money. I would have thought it was being chipped away at, but I have actually heard a number of people in the same breath talk about how bad the housing market and prices are, but that buying a house is still better than renting and they would never, ever consider it. Quote Link to comment Share on other sites More sharing options...
Malthus Posted October 7, 2008 Share Posted October 7, 2008 I think people will pile into this. There's still a well entrenched belief out there that renting is the equivalent of jumping onto a bonfire of your own money. I would have thought it was being chipped away at, but I have actually heard a number of people in the same breath talk about how bad the housing market and prices are, but that buying a house is still better than renting and they would never, ever consider it. you could be right , as far as i can see co-ownership was always a bad idea so i suppose they may find a few mugs . as for renting we are paying £525/month excluding rates so will cost £6300 for the year , the property was originally for sale for £300k reduced to £250k and did'nt sell . So depending on the drop : 10% = £25k net loss to LL = £18700 20% = £50k net loss to LL = £43700 30% = £75k net loss to LL = £68700 return to ratable value of £145k = nett loss to LL = £ 98700 this does not cover any maintainance, tax or agents fees etc. don't think i'll bother with co ownership for a bit Quote Link to comment Share on other sites More sharing options...
JoeDavola Posted October 7, 2008 Share Posted October 7, 2008 I think people will pile into this. There's still a well entrenched belief out there that renting is the equivalent of jumping onto a bonfire of your own money. I would have thought it was being chipped away at, but I have actually heard a number of people in the same breath talk about how bad the housing market and prices are, but that buying a house is still better than renting and they would never, ever consider it. You are correct. Even though simple mathematics has shown that renting was far cheaper, there are loads of people out there who will do anything they can to buy a house at any price, just to say that they 'own' their own place. Quote Link to comment Share on other sites More sharing options...
Traktion Posted October 7, 2008 Share Posted October 7, 2008 It's like pissing in the wind in terms of preventing the crash, but I agree, others will sign up to it. For some people, owning a house is still all they want to do and they will go to any length to get it. I wouldn't be surprised if they're also the first people to be moaning about how the government has ripped them off with co-ownership when houses have fallen another 30%. The best move is still waiting patiently until the prices stop falling and housing becomes genuinely affordable again. Quote Link to comment Share on other sites More sharing options...
subby Posted October 7, 2008 Share Posted October 7, 2008 (edited) U.tv aren't running this feature?? wonder why, I'd like to post up a comment on it but the bbc site doesn't let you Edited October 7, 2008 by subby Quote Link to comment Share on other sites More sharing options...
Vespasian Posted October 7, 2008 Author Share Posted October 7, 2008 Co-ownership gets £35m funding:http://news.bbc.co.uk/2/hi/uk_news/norther...and/7655952.stm People will be queing up to 'take advantage' of co-ownership, even though prices are already down 30% and should continue to fall. read more closely "Northern Ireland's housing co-ownership scheme has secured £35m in private finance" I wonder who stumped up the cash. Someone with a vested interest perhaps? Quote Link to comment Share on other sites More sharing options...
BelfastVI Posted October 7, 2008 Share Posted October 7, 2008 read more closely"Northern Ireland's housing co-ownership scheme has secured £35m in private finance" I wonder who stumped up the cash. Someone with a vested interest perhaps? BoI Quote Link to comment Share on other sites More sharing options...
FrustratedFTB Posted October 14, 2008 Share Posted October 14, 2008 (edited) RICS comments from NI Looking at the data from a regional perspective, the net price balance remained deeply negative across England and Wales. Specifically, the balance deteriorated further in London, Wales, the North, the North West and the East Midlands. It remained unchanged in the South East and Yorkshire and Humberside. In East Anglia, the South West and the West Midlands, the net price balance improved modestly. In Scotland the net balance reached new lows, while in Northern Ireland, it also continued to deteriorate. NORTHERN IRELAND Londonderry – Co. Londonderry Aidan Conway BSc MRICS Patrick Andrews Chartered Surveyors There is now growing interest from first time buyers in more affordable property. However, difficulty in mortgage funding still exists due to the ongoing banking problems. Active Government intervention is required as is proposed in the USA to inject greater fluidity to the banking system and reducing inter-bank lending interest rates. Lisburn – Co. Antrim Bill McCann MRICS Bill McCann Estate Agency The market remains difficult with funding and lack of confidence the main issues. Enniskillen – Co. Fermagh Harold Montgomery FRICS Montgomery Finlay & Co. Negative impacts: 1) The credit squeeze and financial services uncertainty. 2) Press speculation and future falls in house prices. Lisburn – Co. Antrim Tom McCLellland FRICS McClelland & Salter There were hints in the summer that prices were bottoming. Since the banking failures of he last three weeks, selling prices have come under further pressure. Coalisland – Co. Tyrone N M Maneely FRICS Maneely & Co. The market remains stagnant with buyers reluctant to commit. However, vendors, particularly, developers are cutting prices hard to achieve some sales. The current global problems are adding to a generally pessimistic outlook. Omagh – Co. Tyrone J G Fleming MRICS J G Fleming There is no confidence in the housing market. The attitude of the banks to borrowers is that they don't really want to lend as they don't have the money. Prospective purchasers don't want to buy because they are not assured that prices have bottomed out. http://www.rics.org/NR/rdonlyres/83AF2FD7-.../0/hms_0908.pdf Edited October 14, 2008 by FrustratedFTB Quote Link to comment Share on other sites More sharing options...
FrustratedFTB Posted October 14, 2008 Share Posted October 14, 2008 ‘New reality’ in property marketTuesday, 14 October 2008 People wanting to sell their homes in Northern Ireland are having to cut asking prices by up to 30% to find a buyer, it was revealed yesterday. The Royal Institution of Chartered Surveyors said there was a new reality settling on the property market. Tom McClelland, the RICS Northern Ireland spokesman, said: “Where people are prepared to bite the bullet and face up to reality, there are sales — there is quite a bit of pent up demand out there. “Where builders and ordinary sellers have cut prices by between 25% and 30% they have been getting sales.” The property investors had left the market, he said, and the reduced prices had put the average property price more in kilter with the average income of the first time buyer. However the latest RICS housing market survey showed the property market was still languishing in the doldrums with the vast majority of members — 91% — reporting prices dropping for the 14th straight month. And many big cuts in the asking prices of houses have so far failed to provide the hoped for kick-start to the local market, said the RICS. The numbers of properties changing hands at the moment is just a trickle with potential buyers continuing to be worried about being caught with negative equity if prices continue their downward trend and others hit by the cut on lending by mortgage providers. It said the expected increase in sales activity after sellers made large reductions in asking prices – and lenders offered to support first time buyers – may take longer than expected to materialise. Mr McClelland said: “The global financial market turmoil and the deteriorating economic picture have clearly dented consumer confidence which has inevitably fed through into the local housing market.” However, the cut in interest rates by the Bank of England Monetary Policy Committee last week, expected further cuts to come and moves to restore confidence in financial markets should help build confidence after what the RICS said had been a “challenging” September for its members. It reported: “Sales are being made where asking prices reflect the new reality, but sales numbers are still low by normal standards.” It was in July last year when the RICS last reported a majority of members reporting rising prices. Derek Wilson, head of mortgages at the Ulster Bank which sponsors the monthly survey, said support being offered to first-time buyers to help them onto the property ladder was important to the market as a whole. Home owners stood to benefit from last week’s interest rate cut which would also support greater purchasing activity in the market, he added. http://www.belfasttelegraph.co.uk/lifestyl...t-14001312.html Quote Link to comment Share on other sites More sharing options...
wayoutwest Posted October 15, 2008 Share Posted October 15, 2008 The Daily Mirror has a shocking prediction on its front page, as it claims that house prices in Northern Ireland could fall by up to two-thirds in the next year and a half.It says rising unemployment will be one of the factors involved. This is not on the Daily Mirror website as far as I can see. http://news.bbc.co.uk/1/hi/northern_ireland/7670958.stm Quote Link to comment Share on other sites More sharing options...
YoungFTB Posted October 15, 2008 Share Posted October 15, 2008 This is not on the Daily Mirror website as far as I can see.http://news.bbc.co.uk/1/hi/northern_ireland/7670958.stm 66.6% drop from 2007 peak Quote Link to comment Share on other sites More sharing options...
cacot Posted October 15, 2008 Share Posted October 15, 2008 (edited) 66.6% drop from 2007 peak Is someone else Journalistic reading this forum maybe?!? I like the fact that the RICS is now starting to give global financial economics lessons. (along with every drunk in the pub, ganny, child, postman, etc.) Give it up admit that we are in a crash and lets get on with the cheap house buying already. It's going to happen, get out now while you still can. Oh yeah ... allegedly! (Phew! almost forgot) Edited October 15, 2008 by camthescot Quote Link to comment Share on other sites More sharing options...
Belfast Boy Posted October 15, 2008 Share Posted October 15, 2008 The Daily Mirror has a shocking prediction on its front page, as it claims that house prices in Northern Ireland could fall by up to two-thirds in the next year and a half. Are they copying me? A few days ago I was talking about dividing 2007 prices by 3. So 2010-2012 prices would be 1/3 of 2007. Quote Link to comment Share on other sites More sharing options...
cacot Posted October 15, 2008 Share Posted October 15, 2008 Are they copying me?A few days ago I was talking about dividing 2007 prices by 3. So 2010-2012 prices would be 1/3 of 2007. Well one post prior to that I said, In total I see a drop of similar to the south but holding slightly higher. 66% drops should do it. £300k house becomes £100k, £150k becomes £50kTry picking up those pieces?!? http://www.housepricecrash.co.uk/forum/ind...showtopic=91592 But you have talked of far more serious drops prior so I will let you have it unless it comes with some prize money for calling the market! Quote Link to comment Share on other sites More sharing options...
pod Posted October 15, 2008 Share Posted October 15, 2008 Was that really on the Daily Mirror front page? 66.6% drop from 2007 peak from article:- The Daily Mirror has a shocking prediction on its front page, as it claims that house prices in Northern Ireland could fall by up to two-thirds in the next year and a half. It doesn't actually state from 2007 peak, just over the next 18 months. Quote Link to comment Share on other sites More sharing options...
trebor21 Posted October 15, 2008 Share Posted October 15, 2008 Was that really on the Daily Mirror front page?from article:- It doesn't actually state from 2007 peak, just over the next 18 months. Thats because some houses are still priced at peak values. Quote Link to comment Share on other sites More sharing options...
Wilco Posted October 15, 2008 Share Posted October 15, 2008 Did anyone catch the Nolan show this morning? Discussion with Jonathan Davis starts around 30 minutes in. You can listen again here: http://www.bbc.co.uk/radio/aod/networks/ul...ster/nolan_wed# Quote Link to comment Share on other sites More sharing options...
Malthus Posted October 15, 2008 Share Posted October 15, 2008 Brilliant thanks 30 mins of good listening for a change. Liked the guy who claimed no one saw the bust coming , wrong Quote Link to comment Share on other sites More sharing options...
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