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Alistair Campbell

And they say history never repeats itself

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5 kids and buying a £235K house? He'll need to be pulling in plenty each month to pay for that.

Feels like 2006 all over again.

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1 hour ago, JoeDavola said:

5 kids and buying a £235K house? He'll need to be pulling in plenty each month to pay for that.

Feels like 2006 all over again.

The other half called about a three bed in BT9, admittedly very nicely done. Went on at £400K two weeks ago and now at £500K. The money is coming from somewhere.

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1 hour ago, The_Equalizer said:

The other half called about a three bed in BT9, admittedly very nicely done. Went on at £400K two weeks ago and now at £500K. The money is coming from somewhere.

Crazy, but hey if the money's there then it's there. Don't know how joe average is meant to afford a house now however.

54 minutes ago, stingray192 said:

People were queuing outside hunter campbell, Carrickfergus,  for apartments priced at £235-£269K last week, all 6 on realease were sold by 9.30 am the next morning

Where were the apartments located? Surely not Carrick?

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Isn't there technically speaking, full employment in NI at the moment?

https://www.bbc.co.uk/news/uk-northern-ireland-43796546

Regardless of the quality and salary of the jobs, that's going to create a feeling of security and wellbeing.  Combine it with soaring stock markets (never mind that they are supported by printed money) and the  ease of getting credit and low interest rates which have been near zero for a decade and the fact that the economy has apparently survived President Trump and the Brexit vote (both of which were sold to the public as surefire armageddon situations)  ... you have euphoria and bubble-tastic conditions.  What can possibly go wrong?

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18 minutes ago, Sour Mash said:

Isn't there technically speaking, full employment in NI at the moment?

https://www.bbc.co.uk/news/uk-northern-ireland-43796546

Regardless of the quality and salary of the jobs, that's going to create a feeling of security and wellbeing.  Combine it with soaring stock markets (never mind that they are supported by printed money) and the  ease of getting credit and low interest rates which have been near zero for a decade and the fact that the economy has apparently survived President Trump and the Brexit vote (both of which were sold to the public as surefire armageddon situations)  ... you have euphoria and bubble-tastic conditions.  What can possibly go wrong?

This. 

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23 hours ago, The_Equalizer said:

The other half called about a three bed in BT9, admittedly very nicely done. Went on at £400K two weeks ago and now at £500K. The money is coming from somewhere.

Where was this? 

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13 hours ago, 2buyornot2buy said:

Where was this? 

It was 29 Cranmore Park:

https://www.propertynews.com/property-for-sale/belfast/semi-detached-type/cranmore+park/property/DHE670451?sort=Date+Added&status[]=For+Sale&sector[]=Residential&offset=0&limit=10&street[]=43f4c149-adc4-43d6-9a17-913a78dc91b7

I suppose that fact is has planning for an extension might have something to do with it although I looked as a similar style house in Marlborough Park South over Easter. It was 4 bed, but needed a lot of work. It had 40 viewers in the first two weeks and was at £435K when I last asked. I'm presuming it went a bit further because it remained for sale for another fortnight after my last update (at £435K):

https://www.ulsterpropertysales.co.uk/51-marlborough-park-south-malone-belfast/509950

The Harberton Park development seems to be selling no problem with prices ranging from £300 - £800k:

https://www.propertynews.com/property-for-sale/new-home-36302/?status[]=Sale+Agreed

As pointed out, people are feeling confident, money is very cheap still and the demand - especially for the 'right areas' - outstrips supply. 

 

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3 hours ago, The_Equalizer said:

It was 29 Cranmore Park:

https://www.propertynews.com/property-for-sale/belfast/semi-detached-type/cranmore+park/property/DHE670451?sort=Date+Added&status[]=For+Sale&sector[]=Residential&offset=0&limit=10&street[]=43f4c149-adc4-43d6-9a17-913a78dc91b7

I suppose that fact is has planning for an extension might have something to do with it although I looked as a similar style house in Marlborough Park South over Easter. It was 4 bed, but needed a lot of work. It had 40 viewers in the first two weeks and was at £435K when I last asked. I'm presuming it went a bit further because it remained for sale for another fortnight after my last update (at £435K):

https://www.ulsterpropertysales.co.uk/51-marlborough-park-south-malone-belfast/509950

The Harberton Park development seems to be selling no problem with prices ranging from £300 - £800k:

https://www.propertynews.com/property-for-sale/new-home-36302/?status[]=Sale+Agreed

As pointed out, people are feeling confident, money is very cheap still and the demand - especially for the 'right areas' - outstrips supply. 

 

Thanks for that. I think it's really just because 400k houses don't come up much there. Plus the park will be a big selling point. 

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On 07/06/2018 at 10:57, Belfast Boy said:

Does this mean we are in a 'boom'.

We all know what comes after a 'boom'.

Money printing and slashing interest rates now unfortunately 

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On 10/06/2018 at 09:57, nome said:

Money printing and slashing interest rates now unfortunately 

We've had over a decade of that now. Off the top of my head, wealth confiscations e.g. bail-ins, are the only option they have left now.

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3 hours ago, Locke said:

We've had over a decade of that now. Off the top of my head, wealth confiscations e.g. bail-ins, are the only option they have left now.

In which case best spend it now before they do it for you!

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9 hours ago, Locke said:

We've had over a decade of that now. Off the top of my head, wealth confiscations e.g. bail-ins, are the only option they have left now.

So they spend 10 years screwing savers with inflation and ZIRP, then decide to go another level by simply taking the savings? Nothing really surprises me anymore.

I’m not sure what is going on, or what is going to happen... but it’s not going to be pretty in the next recession.

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On 11/06/2018 at 20:29, whome_yesyou said:

So they spend 10 years screwing savers with inflation and ZIRP, then decide to go another level by simply taking the savings? Nothing really surprises me anymore.

I’m not sure what is going on, or what is going to happen... but it’s not going to be pretty in the next recession.

Governments don't really generate wealth - they just take it from their population and redistribute it.

At the end of the day the government is going to have to try to take as much money as they can from the people who have it in order to bail out debtots (itself being the biggest one).

 Money printing/ interest rate repression/ inflation are all mechanisms to take 'wealth' away from those who have it and give it to the debtors but if that is insufficient to bail out the banking system, then they can and will raid the accounts of 'depositors'.  Or to be more accurate, stiff the creditors who loaned them money.

If you have appreciable wealth, your best bet is to first get it out of the banking system and second get it out of the grasp of the government as soon as possible.  Easier said than done unless you are willing to transfer it all to assets (eg Gold)  stored outside the country (or dare I say it, something like Bitcoin which has dropped a lot recently). 

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On 09/06/2018 at 03:42, The_Equalizer said:

It was 29 Cranmore Park:

https://www.propertynews.com/property-for-sale/belfast/semi-detached-type/cranmore+park/property/DHE670451?sort=Date+Added&status[]=For+Sale&sector[]=Residential&offset=0&limit=10&street[]=43f4c149-adc4-43d6-9a17-913a78dc91b7

I suppose that fact is has planning for an extension might have something to do with

"under planning appeal reference Z/2012/0548/F"

This PP has expired and they applied for again (and approved)

£500k for a semi is mental. You will be able to hear everything through those walls.

 

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  • 337 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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