Jump to content
House Price Crash Forum
Sign in to follow this  
pod

Belfast Houses More Expensive Than London

Recommended Posts

Vespasian posted a link to this article on the Northern Ireland thread.

House prices in some parts of Northern Ireland are more expensive than those in London, it emerged today.

The latest figures from the Nationwide Regional House Price Report show that the average home will set Ulster buyers back £225,447 - up 54% on last year.

And, according to the study, a house in Belfast now costs a staggering £300,229 on average - compared with a mean price of £292,409 in London.

http://www.belfasttelegraph.co.uk/homefind...icle2750947.ece

Share this post


Link to post
Share on other sites

In a place that has the lowest wages in the UK.

In a place that has well over 50% of people working in the public sector.

Madness. Absolute bloody madness.

I think I should just stop visiting this site and worrying about house prices, and just get on with my life. I think this will probably be the last day I post on this forum - I've had enough of worrying about this. It achieves nothing, and is just depressing. Life is too short.

Share this post


Link to post
Share on other sites
In a place that has the lowest wages in the UK.

In a place that has well over 50% of people working in the public sector.

Madness. Absolute bloody madness.

I think I should just stop visiting this site and worrying about house prices, and just get on with my life. I think this will probably be the last day I post on this forum - I've had enough of worrying about this. It achieves nothing, and is just depressing. Life is too short.

"And, according to the study, a house in Belfast now costs a staggering £300,229 on average - compared with a mean price of £292,409 in London."

In a place where there are countless able bodied people on DLA and still able to work you can't not believe in miracles. It won't be long before people see the light. B)

Share this post


Link to post
Share on other sites
Like all boils it must come to head to be cured. This is the top of the mountain - its downhill all the way now. Look on propertysnake at the number of days houses are on the market. Some have been on for much longer than the days quoted since they were listed before propertysnake started. The best is yet to come Joe - don't fall at the last fence. Enough cliches now I think. ;)

At the end of the day, when all said and done, the chickens will come home to roost, a fool and his money are easily parted. :P

Share this post


Link to post
Share on other sites
In a place that has the lowest wages in the UK.

In a place that has well over 50% of people working in the public sector.

[sNIP]

they must be some *damn* well paid public sector jobs. where do i sign up? :P

Share this post


Link to post
Share on other sites

"Recent growth rates appear unsustainable, and it would be healthy for the market to see some cooling," added Ms Earley.

Todays award of the bleeding obvious goes to Ms Earley i think!!!!!

Share this post


Link to post
Share on other sites
Well I work in the public sector in NI and my FTE is 15k for a responsible post. Average labourer rates in Mourne area are advertised at £6.22 per hour plus attendance allowance. How anyone can afford the 350k houses down here is anyone's guess

This is a really important point IMO - just who is buying the property there?

Share this post


Link to post
Share on other sites
This is a really important point IMO - just who is buying the property there?

Many will tell you that it is Southern money investing in our market. I think this probably is a reasonable claim but I think one will also find that there are more than a few 'well off' Northerners who have been feeling plush with a couple of houses, seen how much they can borrow and have just gone bananas - that is IMHO though.

Share this post


Link to post
Share on other sites

I'd have thought it is people who bought or built houses in the countryside years ago for about 10k that are now able to sell them for about 300k. Or people who have inherited money or housing.

Share this post


Link to post
Share on other sites

Well quite. I sold my £440k house to a couple where one was a Dr and one worked in London and they were selling their house for a £120k profit over what they paid for it. So to take simple average earnings and multiples gets you nowhere - only first time buyers are relevant to that figure.

But it will pop. The sharper the spike the sharper the drop and NI has seen an amazing spike.

ANDY

Share this post


Link to post
Share on other sites

Obviously not the major driver behind all this but I wonder how much crime/para-military money has flooded into property? I reckon with galloping HPI no one has the time or inclination to fight. It would explain why even Ian Paisley is smiling and having a laugh with the ex-provos. Will be intersesting to see what effect a crash has on sectarian violence.

As for the prices in Belfast, they are an example of speculation gone mad. There is apparently nothing to underpin these valuations except hot air.

I very much look forward to NI house prices skewing HPI negatively when this baby blows!

Share this post


Link to post
Share on other sites
Obviously not the major driver behind all this but I wonder how much crime/para-military money has flooded into property? I reckon with galloping HPI no one has the time or inclination to fight. It would explain why even Ian Paisley is smiling and having a laugh with the ex-provos. Will be intersesting to see what effect a crash has on sectarian violence.

As for the prices in Belfast, they are an example of speculation gone mad. There is apparently nothing to underpin these valuations except hot air.

I very much look forward to NI house prices skewing HPI negatively when this baby blows!

Indeed. Their 'principles' seem to have taken a back seat to rampant HPI and other moneymaking opportunities.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 355 The Prime Minister stated that there were three Brexit options available to the UK:

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.