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Low Inventory


Canyon78
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Sorry for being Belfast focused but  I'm pretty sure this trend is everywhere. 

The number of houses for sale in Belfast on propertypal dipped below 1200 this week. I'm pretty sure this is the lowest I have seen in the last few years. I know its seasonal as well. 

Does anyone know the usual numbers for this time of year. When are highs and lows?

Also what were the numbers around 2006 to 2007? 

And finally whats the driving force behind it? And the future?

Sorry just looking people's options and see where my own biases are in my thinking I currently have a deposit and I'm looking to buy. 

 

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17 hours ago, Canyon78 said:

Sorry for being Belfast focused but  I'm pretty sure this trend is everywhere. 

The number of houses for sale in Belfast on propertypal dipped below 1200 this week. I'm pretty sure this is the lowest I have seen in the last few years. I know its seasonal as well. 

Does anyone know the usual numbers for this time of year. When are highs and lows?

Also what were the numbers around 2006 to 2007? 

And finally whats the driving force behind it? And the future?

Sorry just looking people's options and see where my own biases are in my thinking I currently have a deposit and I'm looking to buy. 

 

I know BT9 and the north coast towns are very low in inventory.  BT9 had about 180 for sale at the start of last year.  Even with loss of the student rental houses are shifting there.

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On 08/04/2021 at 19:53, Canyon78 said:

Sorry for being Belfast focused but  I'm pretty sure this trend is everywhere. 

The number of houses for sale in Belfast on propertypal dipped below 1200 this week. I'm pretty sure this is the lowest I have seen in the last few years. I know its seasonal as well. 

Does anyone know the usual numbers for this time of year. When are highs and lows?

Also what were the numbers around 2006 to 2007? 

And finally whats the driving force behind it? And the future?

Sorry just looking people's options and see where my own biases are in my thinking I currently have a deposit and I'm looking to buy. 

 

there actually was a thread on here years ago that tracked the number of houses on propertynews. I cant remember the numbers.

Firstly a lot of the available houses has been booked.

Secondly, in a rising market people hold back placing their house on the market using the dangerous logic they will get even more for it in a few months time. For people offloading houses they bought in 2006 this is somewhat understandable. They may feel they could get what they paid for it.

However, as I say, dangerous logic. 

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3 hours ago, BelfastVI said:

there actually was a thread on here years ago that tracked the number of houses on propertynews. I cant remember the numbers.

Firstly a lot of the available houses has been booked.

Secondly, in a rising market people hold back placing their house on the market using the dangerous logic they will get even more for it in a few months time. For people offloading houses they bought in 2006 this is somewhat understandable. They may feel they could get what they paid for it.

However, as I say, dangerous logic. 

Buddy of mine bought a house for 200k, I find it hard to believe that the EA is telling the truth when he says they were 400k in 2006

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1 hour ago, satsuma said:

Buddy of mine bought a house for 200k, I find it hard to believe that the EA is telling the truth when he says they were 400k in 2006

I know someone who bought a house for £320K that, when they saw the reposession documents, had been originally bought for £700K. This is in Belfast.

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5 hours ago, BelfastVI said:

there actually was a thread on here years ago that tracked the number of houses on propertynews. I cant remember the numbers.

Firstly a lot of the available houses has been booked.

Secondly, in a rising market people hold back placing their house on the market using the dangerous logic they will get even more for it in a few months time. For people offloading houses they bought in 2006 this is somewhat understandable. They may feel they could get what they paid for it.

However, as I say, dangerous logic. 

Yes my parents sold their place for 10% over asking at the end of last year, but have yet to find anywhere that wouldn't involve spending money for essentially a smaller fixer upper.

Dad's latest comment to me was "I think the house is probably worth more now than it was when we sold it in December, we should really take it off the market and re-list it for more so we can afford to move".

Bear in mind the same house, pre-pandemic, was failing to sell for 15% less than the current sale agreed price.

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1 hour ago, satsuma said:

Buddy of mine bought a house for 200k, I find it hard to believe that the EA is telling the truth when he says they were 400k in 2006

And my parents bought a house from the builder for £170K that idential models were bought (actually queued up for) £300K in 2006.

And my mate bought a house in larne for £90K where the geezer over the road paid over £200K for an only slightly bigger house.

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One more - there is a flat for sale for £200K at the moment (admittidly with no buyers) that I know for a fact the idential flat downstairs was repo-ed and on for £110K about 8 years ago.

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10 hours ago, getdoon_weebobby said:

Our house was bought off bank in early 2012 for 62.5% less than developer was asking in 2007. Prob now worth 80-85% more than we paid. But still it’s at 30% below what developer was asking. 

I bought in 2013, similar story but not a report. We spent money modernising and adding a orangery. Looking at a couple of others sold on the same streets in the last 3 months I'd say we're up similar, perhaps as much as 100%.

I'd have to earn close to a million to get that sort of money. Puts it in perspective. 

 

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