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N Ireland: Remortgaging Soars As Ulster Debts Rise 61%

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http://www.belfasttelegraph.co.uk/news/sto...sp?story=698610

Remortgaging soars as Ulster debts rise 61%

Consumer spending the biggest problem area

By Helen Carson

14 July 2006

Record numbers of
homeowners are remortgaging their properties
compared to those actually moving house, according to the Council of Mortgage Lenders.
But the news coincides with Citizens' Advice Bureaux findings of a 61 per cent increase in debt in Ulster - with housing debt recorded as the largest area after consumer spending.

Good thing the sheeple in the rest of the UK don't do that init?

A HPC accident waiting to happen in NI then. :o

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Guest Cletus VanDamme

I have heard reports of "panic buying" in Belfast, with thousands of FTBs and BTLs desperate to avoid missing the boat.

New build "apartments" in average suburban areas are selling for £200k.

The peace dividend eh? Have the punishment beatings stopped now or are they just no longer reported? An NI friend told me this good joke, but she claimed it actually happened to her:

'Are you a catholic or a protestant?'

'Neither, I'm an atheist'

'So are you a catholic atheist or protestant atheist'

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Guest Homer

"A HPC accident waiting to happen in NI then."

I hope so!

I have heard reports of "panic buying" in Belfast, with thousands of FTBs and BTLs desperate to avoid missing the boat.

New build "apartments" in average suburban areas are selling for £200k.

Can confirm this too. I lived down a street last year which was heavily loyalist (someone got shot 7 times about 100 m away; punishment beatings consisted of sandwiching people's fingers between concrete blocks etc. etc.) and houses were 50 K. Now they are double that. Seriously- double in 1 - 2 years.

http://www.propertynews.com/brochure.php?r...&p=PNC43158

Must buy; next big boom area; so-and-so has made x000 K in 2 weeks; i want to BTL- this is all people talk about here.

If it doesn't crash in 2 years I'm off.

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Guest Homer

Lots of people keep saying "they are off" if prices don't drop. Off where? Where has not been drawn into the global credit bubble and associated global housing bubble?

I guess you have a point. I would not be leaving because I cannot afford a house, but more because I cannot stand the constant crap about property. It's just so boring. There must be somewhere left on this planet where people think there is more to life than F-ing property. It's just a place to live FFS!

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Guest Homer

I remember being in NZ a couple of years ago and drinking at Starbucks and reading about crime and immigration and house prices in the paper and thinking - there is no escape.

I think you're probably right. I went to SA and thought it was by far the best place I'd been- but look at the state they're in. Cape Town must be one of the biggest bubble cities in the world. I wonder how that will pan out? Will SA go the way of Zimbabwe?

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Lots of people keep saying "they are off" if prices don't drop. Off where? Where has not been drawn into the global credit bubble and associated global housing bubble?

Do you think it's fair to say this has generally been a problem in English-speaking regions? i.e. UK, Ireland, USA, Australia, New Zealand, Coastal Spain (Ex-pats), Canada(?)...

Surely France, Italy, Germany, Northern/Central Spain, Belgium, Holland, Scandanavia, and most other places in the world haven't been affected to the same extent? The obvious exceptions are 'investment hotspots' such as Dubai, E. Europe etc.

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Do you think it's fair to say this has generally been a problem in English-speaking regions? i.e. UK, Ireland, USA, Australia, New Zealand, Coastal Spain (Ex-pats), Canada(?)...

Sorry to report no.

In Vietnamese cities (Ho Chi Min and Hanoi) prices are astronomical. Similatly Chinese coastal cities (Shanghai etc) .

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Sorry to report no.

In Vietnamese cities (Ho Chi Min and Hanoi) prices are astronomical. Similatly Chinese coastal cities (Shanghai etc) .

Fair enough.

To answer Durch's original question then, there are numerous European countries (non-English speaking) which haven't seen the same ludicrous levels of HPI as the UK & Ireland. I'm looking into moving to the continent next year if there's no sign of a) falling house prices or B) dramatic UK interest rate rises. The language barrier is going to be the biggest challenge as the entire English-speaking world has temporarily gone house price bananas. We have, quite frankly, missed the boat, and the next one's not due for another 5+ years IMO.

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  • 301 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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