Malthus Posted August 6, 2008 Share Posted August 6, 2008 It's here bang on time! (well press release at least). PDF of the full report not available just. That will feed through in the next few days I'd imagine. Cheers paul65 , looking forward to the full report . Very strange that apartments are holding up average prices according to the report , i would have thought they would be leading the charge to the bottom . There must be a lot more young professionals in NI than i thought Quote Link to comment Share on other sites More sharing options...
paul65 Posted August 6, 2008 Share Posted August 6, 2008 Cheers paul65 , looking forward to the full report . Very strange that apartments are holding up average prices according to the report , i would have thought they would be leading the charge to the bottom . There must be a lot more young professionals in NI than i thought Yes like you (and from all the reading around city centre apartments I have done recently) I would have thought that apartments would be leading the downward charge. They certainly are in mainland UK city centres. Maybe NI and Belfast in particular is different from the UK after all? Or maybe the apartment developer cannot discount prices any further and those sales prices really are as low as they can go? Or maybe they are investors / speculators jumping out of the market as quick as they can? Lots of unknowns. I'd like to see what the report would really look like however if you took the masking/skewing effects of the apartment market out of the equation. That would be interesting. Quote Link to comment Share on other sites More sharing options...
trebor21 Posted August 6, 2008 Share Posted August 6, 2008 (edited) Yes like you (and from all the reading around city centre apartments I have done recently) I would have thought that apartments would be leading the downward charge. They certainly are in mainland UK city centres. Maybe NI and Belfast in particular is different from the UK after all? Or maybe the apartment developer cannot discount prices any further and those sales prices really are as low as they can go? Or maybe they are investors / speculators jumping out of the market as quick as they can? Lots of unknowns.I'd like to see what the report would really look like however if you took the masking/skewing effects of the apartment market out of the equation. That would be interesting. It could be that lower end cant reduce prices, but higher end has reduced them. so for instance penthouses and larger apartments have came down and people have bought these rather than the smaller aprtments. So if you had an apartment valued at £450k last year and you sell it for £250k this year, if these were the majority of apartments selling it would appear prices were actually rising as there is no sales in the lower end to bring the average dwon. Edited August 6, 2008 by trebor21 Quote Link to comment Share on other sites More sharing options...
Malthus Posted August 6, 2008 Share Posted August 6, 2008 Yes like you (and from all the reading around city centre apartments I have done recently) I would have thought that apartments would be leading the downward charge. They certainly are in mainland UK city centres. Maybe NI and Belfast in particular is different from the UK after all? Or maybe the apartment developer cannot discount prices any further and those sales prices really are as low as they can go? Or maybe they are investors / speculators jumping out of the market as quick as they can? Lots of unknowns.I'd like to see what the report would really look like however if you took the masking/skewing effects of the apartment market out of the equation. That would be interesting. Do you think the apartment sales are being quoted at full price to the survey when in fact there are discounts and other incentives being offered ? At least it will give the UU/BOI graph a nice bull trap , should help sell the economics text books that will be written about the boom . Quote Link to comment Share on other sites More sharing options...
paul65 Posted August 6, 2008 Share Posted August 6, 2008 Do you think the apartment sales are being quoted at full price to the survey when in fact there are discounts and other incentives being offered ? I really don't know. All I know for certain is that the transaction values are reported to the UU survey by EA's. Who knows if discounts, inducements, sweetners or other incentives are offered by way of the deal going through at the elevated rate? Incentives were used in the past with property sales and this would have been rolled in with past 1/4erly HPI figures. However the BBC Panorama programme uncovered the issue of Gifted Deposits recently and I thought that the regulator was trying to clamp down on the free car or holiday in the Bahamas with the sale transaction. I could be wrong though. One thing is for certain I shall have to do more Columbo work ! At least it will give the UU/BOI graph a nice bull trap , should help sell the economics text books that will be written about the boom . Spot on! Quote Link to comment Share on other sites More sharing options...
getdoon Posted August 6, 2008 Share Posted August 6, 2008 apartments doesnt add up - probably a mix of all factors mentioned plus big deals all going through - eg titanic / victoria square Belfast - up 3.3% - Templeton Robinson etc will be using this to justify their stance on refusl to lower asking price / refusal to accept you should be offering below asking in Belfast Quote Link to comment Share on other sites More sharing options...
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