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On 4/4/2020 at 4:46 PM, 2buyornot2buy said:

Here's a good one. 2 self employed people doing Air BnB for the pension. Both will probably be unemployed now. How will people like this survive the economic crash? 

https://www.google.com/amp/s/amp.belfasttelegraph.co.uk/life/house-home/how-ni-businesswoman-nuala-campbell-transformed-dilapidated-belfast-terrace-into-stylish-airbnb-on-25k-budget-39019406.html

 

Nuala reveals they decided to buy the house "because I have no pension and we thought it would be a good investment". 

I've no idea how the government will bail people like this out, or if it's even possible. 

143k mortgage and 25k spent. Wonder what it will go for when it's marketed by the bank. 

 

 

This one made me LOL

'Rolling up her sleeves to do much of the work herself, she has completely transformed a rundown three-storey terrace into a chic and contemporary Airbnb.'

Only in the telegraph....

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47 minutes ago, Warlord said:

This one made me LOL

'Rolling up her sleeves to do much of the work herself, she has completely transformed a rundown three-storey terrace into a chic and contemporary Airbnb.'

Only in the telegraph....

It's the Belfast telegraph but their views on property are probably quite similar 

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On 29/03/2020 at 17:36, JoeDavola said:

Am I the only one who thinks £1050 a month to live in the roofspace of a city centre that has shutdown is utterly ridiculous?

Who the hell is going to want to rent that at that price?

Down to  £900 now but still a way to go

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I think Airbnb will suffer the most out of covid19 no one I know is planning to leave the country this year, hotel prices will go through the floor making Airbnb even cheaper, I personally would never stay in one any way, I like the comfort of a hotel with in site bar, but that’s just me

 

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16 minutes ago, stingray192 said:

I think Airbnb will suffer the most out of covid19 no one I know is planning to leave the country this year, hotel prices will go through the floor making Airbnb even cheaper, I personally would never stay in one any way, I like the comfort of a hotel with in site bar, but that’s just me

 

Suffer the most compared to what? The bars, restaurants and hotels will all suffer massively. In fact I'm finding it hard to think of anyone who'll not have some element of suffering. 

I've never stayed in one. I don't intend to ever stay in one. But then I'm probably a bit hypocrite, I've rented plenty of villas on my travels. Be it then I'm not sure I'm displacing many locals. 

Edited by 2buyornot2buy
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56 minutes ago, 2buyornot2buy said:

Suffer the most compared to what? The bars, restaurants and hotels will all suffer massively. In fact I'm finding it hard to think of anyone who'll not have some element of suffering. 

I've never stayed in one. I don't intend to ever stay in one. But then I'm probably a bit hypocrite, I've rented plenty of villas on my travels. Be it then I'm not sure I'm displacing many locals. 

this post is about Airbnb not about bars restuarants Etc, although I acknowledge my point wasn’t well put, I think anyone who uses their property as an Airbnb will find it hard to recover, travel will be one of the last things to bounce back from covid19 . Business travel has been replaced by zoom meetings and I think this will continue as companies realise it’s so much cheaper, in turn hotels will have to drop their prices going forward, however hotels can always get extra revenue from on site facilities , this is where I can see house prices falling in Belfast , an awful lot of the apartments have relied on Airbnb for revenue, these apartments are going to struggle to sell, once it’s safe to do so I think bars and restuarants, shops etc will recover, although none of us know when that will be 

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17 minutes ago, stingray192 said:

 

If one positive comes out of this, it will be the overall reduction in air travel. I've worked in organisation's ride with unnecessary international travel. Almost a culture. I still travel with my own business but can see this dropping dramatically. 

Was reading Michael Dean suggesting if restaurants don't open by June, at least 50% will close. I personally think with the drop I  tourist numbers, we'll see significant drops no matter what. No way they are getting the volume and margins needed with the £40 home boxes.

I don't think drops will be limited to airbnb flats. Going by the sentiment in my BT9 friend circles drops are expected at the higher end too. 

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28 minutes ago, 2buyornot2buy said:

If one positive comes out of this, it will be the overall reduction in air travel. I've worked in organisation's ride with unnecessary international travel. Almost a culture. I still travel with my own business but can see this dropping dramatically. 

Was reading Michael Dean suggesting if restaurants don't open by June, at least 50% will close. I personally think with the drop I  tourist numbers, we'll see significant drops no matter what. No way they are getting the volume and margins needed with the £40 home boxes.

I don't think drops will be limited to airbnb flats. Going by the sentiment in my BT9 friend circles drops are expected at the higher end too. 

It’s all very unknown , but that’s what makes debates interesting, a lot of people in bt9 can’t afford their houses in the first place, they are living in serious debt in the first place, so the prices may drop, I sold for seven figures in bt9 in 2007 , it was coincidence it was the top of the market, I happened to be moving to Scotland , although quickly moved back, up to then my entire career was selling houses mainly in bt9 , parents still live in maryville, I know every part of it like the back of my hand, people who have lived in their homes for a long time obviously have nothing to worry about, a lot of my friends have huge mortgages on their houses, big car loans, posh wardrobe and a certain image to keep up, most can barely afford to put their heating on

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1 hour ago, stingray192 said:

It’s all very unknown , but that’s what makes debates interesting, a lot of people in bt9 can’t afford their houses in the first place, they are living in serious debt in the first place, so the prices may drop, I sold for seven figures in bt9 in 2007 , it was coincidence it was the top of the market, I happened to be moving to Scotland , although quickly moved back, up to then my entire career was selling houses mainly in bt9 , parents still live in maryville, I know every part of it like the back of my hand, people who have lived in their homes for a long time obviously have nothing to worry about, a lot of my friends have huge mortgages on their houses, big car loans, posh wardrobe and a certain image to keep up, most can barely afford to put their heating on

Completely agree with the living beyond their means comments although in this case, most could comfortably afford the mortgage pre-covid. Most from a position and profession not exactly underpaid. On the other hand I know a couple with debt that would certainly have an affect on my mental health, particularly now.

7 figures is shocking. Didn't realise Malone Medows went that high. Must have been an easy 70% fall from peak there. I bought one a street further down. Not sure the falls were quite so significant here.

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I think I achieved the best price ever in malone meadows, especially as I was one of the original purchasers, I put it up at the time for £799k it went for £1050k , at the time I sold I knew there would be a crash, everyone did as the prices were crazy, people used to come in of the street and bid on houses without even seeing them, quite often relisting them as soon as they completed, I didn’t think the crash would of been as serious my old house would probably go for around £500k earlier this year, I know the people buying it took a mortgage of nearly 700k on it , madness , I’ve never had a mortgage for more that 80k

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2 hours ago, stingray192 said:

I think I achieved the best price ever in malone meadows, especially as I was one of the original purchasers, I put it up at the time for £799k it went for £1050k , at the time I sold I knew there would be a crash, everyone did as the prices were crazy, people used to come in of the street and bid on houses without even seeing them, quite often relisting them as soon as they completed, I didn’t think the crash would of been as serious my old house would probably go for around £500k earlier this year, I know the people buying it took a mortgage of nearly 700k on it , madness , I’ve never had a mortgage for more that 80k

Crazy. When I was looking in 2012 detached there were going for 300k. You did well, it's a nice enough part of malone but 1050 should have set alarms off even in 2007. 

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11 hours ago, 2buyornot2buy said:

Crazy. When I was looking in 2012 detached there were going for 300k. You did well, it's a nice enough part of malone but 1050 should have set alarms off even in 2007. 

I know they really dropped,  when I first bought I absolutely loved the development , the kitchens 30 years ago started at £30000  , they were ultra modern at the time but I think the original houses look extremly dated 

Edited by stingray192
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'Dream' Apartments.... Neighbours of these apartments were certainly not living the Dream of apartment life in Belfast or enjoying sweet dreams..

Once again the issue of short-term rentals in residential apartment blocks, not specifically designed blocks with full concierge type services rears its extremely ugly head. If Belfast City Council seriously wants to promote city centre living and try to develop and support  communities action needs to be taken as has been done by other cities to curtail the proliferation of unregulated short-term lets. 

https://www.belfasttelegraph.co.uk/news/health/coronavirus/belfasts-high-rise-partying-potential-covid-19-time-bomb-expert-39212127.html

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  • 4 months later...

Hopefully this has an impact on the Airbnb rates here post covid. We don't do rental tax in NI. I expect some are in for a tax demand shock. 

https://www.accountingweb.co.uk/tax/personal-tax/hmrc-receives-airbnb-letting-data

HMRC receives Airbnb letting data

Landlords should realise that HMRC will know about their lettings through Airbnb, so full disclosure of all their taxable property income is essential, including for all prior years.

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  • 3 weeks later...

Sitting watching a very boring film I had a good look through Airbnb putting in various dates and locations round Northern Ireland, literally hundreds lying empty with little or no bookings, which is to be expected, what did shock me is the price people are trying to charge for them, not to many bargains, the real shocker though is the amount of people who have converted garages and lofts and charging £100 plus per night 

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  • 442 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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