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Possom

If Direct Rule Is Introduced...

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The prospect of direct rule has recently been mooted:

http://www.bbc.co.uk/news/uk-northern-ireland-29467334

Considering the cuts which would be introduced if that were to happen, how would you expect this to affect Belfast house prices?

Similar cuts have already been introduced in England, though, and as far as I'm aware, nominal house prices there have continued to increase.

Edited by Possom

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It would be welcomed by most.

Considering there would quite probably be cuts to civil service jobs, on which NI is heavily dependent, how would you foresee this impacting on Belfast house prices?

Edited by Possom

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Considering there would quite probably be cuts to civil service jobs, on which NI is heavily dependent, how would you foresee this impacting on Belfast house prices?

if we were still at the top of the cycle I would have t say that any loss of jobs could cause a significant drop. But with prices where they are I dont see the introduction of direct rule having a major impact on what is happening with prices. I believe they will continue to increase. Significant Job losses or the fear of significant job losses could well slow the price increase but that may not be a bad thing.

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if we were still at the top of the cycle I would have t say that any loss of jobs could cause a significant drop. But with prices where they are I dont see the introduction of direct rule having a major impact on what is happening with prices. I believe they will continue to increase. Significant Job losses or the fear of significant job losses could well slow the price increase but that may not be a bad thing.

So less money in the economy ( if indeed such a reduction were to occur, and I don't see the direct link) would not result in less disposable income and lower house prices? I cannot see why it wouldn't cause an immediate drop. Fundamental economics.

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