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Realistbear

N I Sees 18.3% H P I In Just One Quarter

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http://www.belfasttelegraph.co.uk/news/sto...sp?story=692630

Word of warning for all first-time buyers

By Ben Lowry

26 May 2006

Soaring property price rises in Northern Ireland in recent weeks have sparked concern that the market could be overheating.
First-time buyers are taking out loans of up to four-and-a-half times their income in a frantic bid to get onto the property ladder.
And existing homeowners, who were planning to move to a bigger house, are finding that they are unable to fund the increase required to trade up.
A recent report by the Halifax confirmed this trend. It found that the average property price in Northern Ireland leapt from £129,554 in the last quarter of 2005 to £153,427 in the first quarter of this year.
This was a remarkable 18.4% increase over three months - bigger than even the rises seen in the greater London area over an entire year.
You can see the desperation in their eyes as they sign away their lives on loans with small print that is not even glanced at. Estate agents whip buyers into a frenzy by playing jungle beat music in the background while chanting messages such as "you better get in now or pay much more next week," "house prices can't fall here because there are too many immigrants that are willing to buy if you don't," "house prices only rise in the Miracle Economy."

:lol::lol::lol:

Can you visualise the hot air balloon being filled with a rushing wind sending it skyward at Mach 3 speeds straight into the no oxygen zone?

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A recent report by the Halifax confirmed this trend. It found that the average property price in Northern Ireland leapt from £129,554 in the last quarter of 2005 to £153,427 in the first quarter of this year.

:o:blink::unsure:

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:o:blink::unsure:

Im bloody annoyed I missed an opportunity right under my nose. Should have invested here a couple of years back!

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Im bloody annoyed I missed an opportunity right under my nose. Should have invested here a couple of years back!

According to Halifax there is still time as strong employment growth, immigration and low IR are undergirding the property market for the foreseeable future. <_<

http://www.belfasttelegraph.co.uk/news/sto...sp?story=692633

Belfast Telegraph Home > News

'It took a windfall to buy my one-bedroom flat'

By Helen Carson

26 May 2006
When 28-year-old Jenny Ray returned to Northern Ireland after working near London for several years, she was shocked at the sharp rise in property prices here.
"My friends living here told me how much their houses had gone up in value, but I was shocked when I saw the prices," she said.
It was only due to a small inheritance that Jenny could afford the deposit on a property she moved into last week.
She is now the proud owner of a one-bedroom apartment in Sydenham, bought for £86,500.
While the administration manager loves her flat,
she had initially looked at local terraces and found they were well out of her price range.
She said if it weren't for the inheritance, "it would be a very long time before I could ever afford anywhere".
And she will still have to live on a budget: "It won't be the easiest year, but I'm very happy to be in my own property."

I wonder if she will vote for Gordon's Miracle Economy party next time? :lol:

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  • 331 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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