Wednesday, February 20, 2008
The average price of a house in Northern Ireland has fallen by £20,000 in a QUARTER….but still no crash!!
"The end of 2007 saw prices drop so that the average house was worth £230,000 compared with a peak last summer of £250,000." Prices in Belfast - currently less affordable than London or Sydney and in the list of 10 least unaffordable cities on the planet - have dropped by about 13% in a quarter, but apparently there's no crash. The reason? Well apparently (according to the author of this survey on the radio) a drop of a few more % - no doubt bringing Belfast on a par with London and Sydney - will make property 'affordable' again for buyers. Also, it's those 'strong fundamentals' again - the world economy has no effect on us - hadn't you heard that Belfast is the new Monaco?