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Realistbear

N I : House Prices Fall 4 Months In A Row

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http://u.tv/newsroom/indepth.asp?id=84212&pt=n

http://u.tv/newsroom/indepth.asp?id=84212&pt=n

WEDNESDAY 15/08/2007 09:37:42
House prices fall for fourth consecutive month
There has been another slow-down in the rate of house price inflation in Northern Ireland, according to a newly published survey.
The Royal Institution of Chartered Surveyors (RICS) and Ulster Bank study said the rate of price rise eased back in July for the fourth month running.
They predicted the trend was likely to continue to the end of the year - but said there was little chance of a serious decline in values.
Just to confuse home owners, the figures were released the day after the Government said the rise in Northern Ireland house prices had been actually accelerating up to the end of June.
:lol::lol::lol:

One says yes, one says no, who to believe I just don't noooooooooooooooo whoah-oh oh!

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NI has seen a very fast rises

But the RICS said 37% of its members reported a rise in prices of between 0% and 2% in July, with another 23% recording inflation at over 2%.

A third of members questioned said prices had been static and 7% said the had fallen back by as much as 8%.

In July :

1/3 say no rises, static prices

7% say its fallen by 8%

23% say over 2% for July

37% say between 0 and 2%

NI.png

post-552-1187168154_thumb.png

Edited by moosetea

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Unless Brown can keep paying for the civil service backed NI economy they will crash the hardest among the UK "nations."

I can picture three stages in NI:

1. ROI and UK investors dashing for the door

2. ROI and UK investors getting stuck in the door

3. ROI and UK investors getting badly burned.

I honestly don't believe that an Ulster civil servant can afford a NI house. No way.

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House prices fall for fourth consecutive month

...

There has been another slow-down in the rate of house price inflation in Northern Ireland, according to a newly published survey.

One of those statements is wrong.

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One of those statements is wrong.
They predicted the trend was likely to continue to the end of the year

If it continues to slow the MoM data will go negative and in a few more months YoY negatives begin to show up. Crashes always begin with de-acceleration. Much like a car test where you have a 0-60 time and then a 60-0 time before hitting the proverbial wall.

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Yes, but the headline is wrong. Prices didn't fall, they rose more slowly.

It reflects a mindset that hpi is permanent and any signs of slowing is perceived as falling. This is interesting as it may be setting up the market for panic when the first actual negatives show up. TBH, I am surprised there has not been more panic than is evident given NI HPI has been the highest in the world and they have nothing to back those prices up as employment growth has relied on construction jobs and Brown's expansion of the public sector. Could it be that prices are actually falling faster than the VIs are letting on? In todays world there is so much cover-up going on and we have to wait for the news to become obvious before the VIs admit it. Countrywide is a case in point.

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NI has seen a very fast rises

In July :

1/3 say no rises, static prices

7% say its fallen by 8%

23% say over 2% for July

37% say between 0 and 2%

like i said, 7% of eas say falls of upto 8%

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Yes, but the headline is wrong. Prices didn't fall, they rose more slowly.

Now I hate spin as much as the next person. But! The article actually said (and I have highlighted the important bits):

House prices in Northern Ireland fell by up to 8% in July, a local survey revealed today.

The Royal Institution of Chartered Surveyors (RICS) and Ulster Bank housing survey showed 7% of surveyors recorded house prices falling by as much as 8%.

The latest findings confirmed fears expressed by local estate agents in the Belfast Telegraph last week, who claimed there has been a summer slump. They said house prices had dropped by up to 7% in July but at that stage it was just anecdotal.

The RICS report is significant as it is the first official source to confirm that property prices here are down. But with government figures up until June recording record-breaking property price growth in the province of over 55% - outstripping even London, industry sources have been left guessing as to which way the market will go next.

The RICS figures revealed the vast majority of surveyors recorded either no house price growth, or values up by the smallest of margins - 2%.

And the RICS has claimed this is a trend with four months of prices going down.

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http://u.tv/newsroom/indepth.asp?id=84212&pt=n

http://u.tv/newsroom/indepth.asp?id=84212&pt=n

WEDNESDAY 15/08/2007 09:37:42
House prices fall for fourth consecutive month
There has been another slow-down in the rate of house price inflation in Northern Ireland, according to a newly published survey.
The Royal Institution of Chartered Surveyors (RICS) and Ulster Bank study said the rate of price rise eased back in July for the fourth month running.
They predicted the trend was likely to continue to the end of the year - but said there was little chance of a serious decline in values.
Just to confuse home owners, the figures were released the day after the Government said the rise in Northern Ireland house prices had been actually accelerating up to the end of June.
:lol::lol::lol:

One says yes, one says no, who to believe I just don't noooooooooooooooo whoah-oh oh!

The Royal Institution of Chartered Surveyors (RICS) and Ulster Bank study said the rate of price rise eased back in July for the fourth month running.

They predicted the trend was likely to continue to the end of the year - but said there was little chance of a serious decline in values

Prices are still increasing. The rate at which they are increasing is slowing.

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