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The delusion continues:

However, many estate agents have reported an increase in activity in recent months, and predict that the bottom of the market has been reached.

I like this bit from Tom. Summer will be bouncier than the spring bounce - as would be expected!! The whole of the RICS are hoping so, at any rate. Hope over adversity.

“The RICS are hoping that activity levels will increase over the next three months as would be expected in a summer market.”

Hope - the final frontier. Whatever you do, don't do anything practical like encourage a reduction in prices to realistic levels. Just keep on hoping, claim we are at the bottom and now is a good time to buy. Like a broken record.

Good luck with that - such a professional attitude and approach.

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The delusion continues:

However, many estate agents have reported an increase in activity in recent months, and predict that the bottom of the market has been reached.

Hmmm - how many "experts" were saying trhe bottom has been reached 3 years ago and every year since?

There is going to be substantially less money available than there was 10-12 years ago with a load more debt to boot.What does that mean for hps?

Does anyone remember Beth Robinson being quoted as saying "million pound house prices would become the norm".Lmbo :P

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Tom's said the same thing for so long now. He lost what little professional credibility he had a long long time ago. He sounds like a stuck record or senile old man chanting "here's the bottom". The public would probably do quite well if they looked at what Tom said and did the exact opposite. First stage of the drops are over. Let the fear proper begin.

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However, many estate agents have reported an increase in activity in recent months, and predict that the bottom of the market has been reached.

You dont say! :rolleyes:

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I just can't get my head around why people see high prices as anything good...but to the EA and developers. If houses were affordable then people would have a smaller mortgage to pay and more disposable income to spend on helping the economy out.

Why they stick a fifth of a million on to a price....DFS sale tactics ahoy methinks

Words really do fail me..... <_<

Edited by subby

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Only 50%? Friend of mine bought a terraced property in a relatively new development in East Belfast for 165K in '06. Bought as an investment. Eventually sold in '07 to another investor for..wait for it.....235K. Similar house today? Yours for 110K. I make that 55%. And they're still dropping....unsure.gif

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Only 50%? Friend of mine bought a terraced property in a relatively new development in East Belfast for 165K in '06. Bought as an investment. Eventually sold in '07 to another investor for..wait for it.....235K. Similar house today? Yours for 110K. I make that 55%. And they're still dropping....unsure.gif

I'm still think that prices will fall 60%-70%. Momentum will get us to 60% from peak. There needs to be wage inflation to stop prices falling to 70%.

Like doccyboy, I decided to go and have a look at some old posts. Look at this post from 14th Aug 2007 ...

http://www.housepricecrash.co.uk/forum/index.php?showtopic=37941&view=findpost&p=730207

Someone at work was discussing houses at lunch yeaterday. They had been talking to a financial advisor who estimated that house prices would come down 10 or 20%. I laughed at that and they made the mistake of asking me my opinion I said prices would drop by 50% in the next 3 years. I explaind about house price/earnings ratios, boom/bust economic cycles, the state of American housing market ( and Irish and Spanish). People still said that the financial advisor was right. I asked, 'based on what?'... got no replies to that. Poor sheeple, I'll have to stop messing with their minds.

... and "nobody seen it coming." :rolleyes:

Edited by Belfast Boy

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I'm still think that prices will fall 60%-70%. Momentum will get us to 60% from peak. There needs to be wage inflation to stop prices falling to 70%.

Like doccyboy, I decided to go and have a look at some old posts. Look at this post from 14th Aug 2007 ...

http://www.housepricecrash.co.uk/forum/index.php?showtopic=37941&view=findpost&p=730207

... and "nobody seen it coming." :rolleyes:

Interesting one here from JoeDavola. I wonder if he still looks on the forum? Seems fitting to bring it up in relation to the NL article. 50% and counting Joe with plenty more to come.

50% drops are needed to bring houses in NI anywhere near affordable levels.

Although I do find it hard to believe that house prices will ever fall 50% :(

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I just can't get my head around why people see high prices as anything good...

Words really do fail me..... <_<

I am of the same opinion on this one. I was having a conversation with work colleagues about this very matter and 2 of them commented on how they felt the bottom had been reached, and in their words 'if anything houses were prob undervalued at the min' ... They believe that they will start to rise again to 'normal levels' and they see this as a positive thing.

Long story short I threw in my 2 pence worth and asked them why they felt they would go up, why it was good and who did it benefit??

I genuinely got silence and blank looks as a response. This country is full of mental, deluded ppl.

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This country is full of mental, deluded ppl.

Luckily, they don't have enough money to prolong the madness.

Generally, NI is lucky to have been bought wholesale by the "enterprising" cousins from An Poblacht. Their government isn't able to prop up the mess, so they go bust and their NI "portfolios" go for sale.

Not so on the Mainland... Westminster & the BoE are propping up the stupid and the profligate, while the Russian mega-crooks are helping to still inflate the London prices.

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Generally, NI is lucky to have been bought wholesale by the "enterprising" cousins from An Poblacht. Their government isn't able to prop up the mess, so they go bust and their NI "portfolios" go for sale.

Can we please nail the old canard that the NI bubble was inflated by our southern cousins. It was not. Apart from Pat Doherty in Titanic and a bit of small time BTL the influence from the Republic was negligible. In fact there was more traffic in the other direction. Look at Donegal in particular - off the top of my head northerners who planned major developments included Mervyn McAlister (personally bust), Mervyn McElroy (personally bust), Sean McWilliams (company bust) and Peter McDaid (company bust).

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A lot of small BTL. Spilled over their own bubble. Got burned badly, worse than the locals or the english speculators (as the pound fell too).

The speed of the bursting (compared to England) is a testimony to this.

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Interesting one here from JoeDavola. I wonder if he still looks on the forum? Seems fitting to bring it up in relation to the NL article. 50% and counting Joe with plenty more to come.

Still lurking :)

Very glad that I didn't try to buy a house back in the boom days.

However, houses are still over valued. Buying is still more expensive than renting. I just signed a new 12 month lease on the flat I'm renting - it would cost me twice as much per month to buy it I reckon - so I have no plans to buy soon. I think houses will be cheaper than they are now, when my lease expires in a year's time. Then I'll re-assess the situation.

If I continue to rent this flat for a couple more years (I'm 27 now), I reckon with the rate I'm able to save money, I'll be able to buy a small place outright by the time I'm 30, if I want to. No mortgage for me hopefully!

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Still lurking :)

Very glad that I didn't try to buy a house back in the boom days.

However, houses are still over valued. Buying is still more expensive than renting. I just signed a new 12 month lease on the flat I'm renting - it would cost me twice as much per month to buy it I reckon - so I have no plans to buy soon. I think houses will be cheaper than they are now, when my lease expires in a year's time. Then I'll re-assess the situation.

If I continue to rent this flat for a couple more years (I'm 27 now), I reckon with the rate I'm able to save money, I'll be able to buy a small place outright by the time I'm 30, if I want to. No mortgage for me hopefully!

Happy Days Joe. Good to hear from you. We're pretty much in the same situation. The GF just signed a new lease for a flat in Belfast. 600 a month. Much cheaper than buying especially with the service charge added.

I'm not such a good saver though. Really don't know what I spend my money on.... Oh wait food and booze.

:)

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A lot of small BTL. Spilled over their own bubble. Got burned badly, worse than the locals or the english speculators (as the pound fell too).

The speed of the bursting (compared to England) is a testimony to this.

Yep plenty of small southern BTLers especially around south Belfast and Derry.

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I'm not such a good saver though. Really don't know what I spend my money on.... Oh wait food and booze.

:)

Eat, drink and be merry - you only live once!

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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