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House Price Crash - Front Page News

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Front page, pages 4 & 5 and editorial. Sadly not available online without subscription, but well worth 70p (for a change) or a trip to the library. I will paraphrase/highlight.

A mix of reality but trying to suggest "bargains" to be had

Page 1 Housing Market Crash benefits first time buyers.

Gimmiky comparing house to price of a Ford Focus then stating FTBs have gone from 60% to 20% of buyers but nonetheless explicit in the drops.

"Forecasters say that although further drops are likely, the market appears to be bottoming out" WTF - either/or I would have thought but then again, it is always at the bottom/a good time to buy.

Tom McClelland (Sigh, I know) warns of risks but suggests if you could get a house for £20,000 and if you spent £15,000 on it and if you were able to get £350 per month it would be a much better investment than three years ago. "prices are not expected to rise over the coming years".

Housing Market Crash Banner on pages 3 & 4

Get in Gear for a Bargain as Property Prices Slump

Page 4 From boom to gloom in 4 years Picture of people in sleeping bags outside Halifax accompanies.

Finally Editorial - "Property collapse a bitter blow for many" There are winners and losers - speculators have had their fingers badly burnt.

Nice timing from the IN and a good dose of reality.

Realistic NI EA - make sure you get your copy

Sorry may need moved to NI media though highly significant re sentiment IMO. Still not fully au fait with this bloggy thing!

Edited by Shotoflight
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Page 4 From boom to gloom in 4 years Picture of people in sleeping bags outside Halifax accompanies.

I bet they are glad they done that now !!

Peak prices for shoebox newbuilds with a tiny garden, maintenence fee's and a block of apartments outside the front window ... what a bargain!! :blink:

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Realistic NI EA - make sure you get your copy

All very interesting and alot of what I am telling many buyers. I have had a few great investment properties come onto the market recently that wouldnt have been seen even a year ago. I can now find properties that will return 12% yield and wont be burnt out/vandalised (which is always a bonus). I am also seeing a few decent FTB properties that are affordable, not the 150k + properties that some EAs are still trying to flog to FTBers as affordable. I'm talking nice 3 bed semis around 90k. Reality is starting to sink in with alot of sellers which is leading to some decent stock being available. On the other hand there is still huge delusion from some parts, usually the people sitting in big detached properties who cant accept that their half a million pound property is now worth 250k at best.

I missed the paper as I dont usually buy it but it sounds like positive news for buyers and a good does of reality for delusional sellers.

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