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yellerkat

F T Alphaville: Negative Equity Hotspots

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FT Alphaville LINK; excellent graphic.

negeq.jpg

ED: Insert graphic.

5live interview about NE this morning , the figures don't include MEW or other secured loans eg NR together nonsense .

the 1 in 10 average being quoted is the tip of the iceberg

if you can't sell up, pay off the car + credit cards, while moving to a bigger house with £20K cash to decorate and have a holiday what's the point in moving

:lol::lol:

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Is there a chart that shows the level of multiples borrowed per city or region? I think that's were Belfast might come into it's own :ph34r:

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Is there a chart that shows the level of multiples borrowed per city or region? I think that's were Belfast might come into it's own :ph34r:

I am surprised that Belfast isnt one of the top negative equity cities, and that Northern Ireland has such a low percentage of borrowers in negative equity.

Maybe the chart has data problems, either that or facts are coming up against my own prejudice.

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From the full FT article (LINK):

Tuesday’s report by Fitch Ratings, which is based on loan information from 2.7m borrowers, found the highest concentration of negative equity was in Northampton, where 17 per cent of borrowers were under water.
Some areas have escaped the housing crisis relatively unscathed. In Glasgow, only 4 per cent of borrowers were under water. Fitch said the data were a snapshot that might not reflect the full market.

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I am surprised that Belfast isnt one of the top negative equity cities, and that Northern Ireland has such a low percentage of borrowers in negative equity.

Maybe the chart has data problems, either that or facts are coming up against my own prejudice.

To be honest, I was thinking the same in regards to data problems. Quite often NI is left out in these type of charts but there is some data there .... oops, just found this: http://www.thisismoney.co.uk/mortgages-and...=moretopstories

And while Northern Ireland does not feature as one of the areas with a high concentration of negative equity, those who do owe more on their mortgage than their property is worth face an average shortfall of £23,056, far exceeding levels across the rest of the country.

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Looks like I wont be seeing the prices drops in the SW I was hoping for. :angry:

don't worry about it.

The stats are sh1te (or use them as a guide only). The SW only has tourism to generate wealth, what happens when the tourism dries up ?

they will probably be benefitting from people who normally go abroad now holidaying in the UK. What happens next year when they can't afford a UK holiday (or any holiday). ;)

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Looks like I wont be seeing the prices drops in the SW I was hoping for. :angry:

Or maybe you will. The more equity the properties have, the more "owners" can "afford" slash the price. This may or may not be correct, but just saying.....

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don't worry about it.

The stats are sh1te (or use them as a guide only). The SW only has tourism to generate wealth, what happens when the tourism dries up ?

they will probably be benefitting from people who normally go abroad now holidaying in the UK. What happens next year when they can't afford a UK holiday (or any holiday). ;)

I don't think house prices in the SW are driven by the tourist industry that much. What has driven the market over the last few years has been retirees and downsizers.

Also, new tax regulations on holiday homes are making them a little less attractive.

It'll happen like everywhere else

Forgot to mention - isn't Torquay debt capital of the UK?

Edited by surfgatinho

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I don't think house prices in the SW are driven by the tourist industry that much. What has driven the market over the last few years has been retirees and downsizers.

Also, new tax regulations on holiday homes are making them a little less attractive.

It'll happen like everywhere else

Forgot to mention - isn't Torquay debt capital of the UK?

actually yes, you're probably right now that I think about it.

I think I was trying to say that from an economically viable pov that the SW will be finished for decades imo.

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Is there a chart that shows the level of multiples borrowed per city or region? I think that's were Belfast might come into it's own :ph34r:

You mean - a chart showing the spread of

LIAR LOANS!

:P:P

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I don't think house prices in the SW are driven by the tourist industry that much. What has driven the market over the last few years has been retirees and downsizers.

Also, new tax regulations on holiday homes are making them a little less attractive.

It'll happen like everywhere else

Forgot to mention - isn't Torquay debt capital of the UK?

SW is debt hole of he UK....

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