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Debate House Prices
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Prices in NI fall by 10% in one quarter
Comments
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NI isn't going to influence UK that much, it makes up what c. 3% of the population. Assuming that the housing market is proportional it's not going to make a serious impact on UK HPI."Mrs. Pench, you've won the car contest, would you like a triumph spitfire or 3000 in cash?" He smiled.
Mrs. Pench took the money. "What will you do with it all? Not that it's any of my business," he giggled.
"I think I'll become an alcoholic," said Betty.0 -
Guy_Montag wrote: »NI isn't going to influence UK that much, it makes up what c. 3% of the population. Assuming that the housing market is proportional it's not going to make a serious impact on UK HPI.
Edinvestor clutching those last remaining straws.0 -
EdInvestor wrote: »It would be interesting to see the overall figures for the last few years with the NI distortion excluded. They might show that prices in many other parts of the UK have not moved up much at all - and will likely not move down much either.
The number of houses that the Nationwide drew its figures from would have been low. Very little is selling here.Stercus accidit0 -
i would be more interested in seeing the breakdown of wages to mortgage debt by area.
house prices are lower in scotland but there is near unlimited space space, a static/dropping population, wages are a lot lower(1), thay are building more social housing and its not had to get so btl aint as hot a prospect.
oh and the real kicker, stuff that is going up in price at an alarming rate of knots like petrol/food will be a much higher proportion of peoples income.
prices have tripled for no other reason than the banks lent out lots of cash, banks ain't lending so daft prices arent sustainable.
(1) and almost entirely dependant on government spending which will start dropping in a recession as they have p! ssed away all the money they had on giant tents and massive pay rises for no productivity gains.
I've read this post a number of times now and still cannot see any facts there.
I'm thinking you must have plucked them all out of thin air.:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
Laughing_Man wrote: »I think mystic's point is that the rises in scotland are no more sustainable than they have been anywhere else.
I do not dissagree with this, however I did not take this from Mystic_Trev's very short post.
He decided to focus on one area specifically, but when presented with facts which proove the opposite current status, he chose not to respond:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
For Scotland:IveSeenTheLight wrote: »I've read this post a number of times now and still cannot see any facts there.
I'm thinking you must have plucked them all out of thin air.
population density: 0.66 people/hectare That's pretty low, when you think about it
population growth rate: 0.4% (2005 est) (population was in decline until 2002 & is still below 1994 levels) So population is below what it was during the bottom of the last house price slump
There has been a drop of 9% in levels of social housing betwixt 2000 & 2005 vs. an 8% drop in Engurland. I think I'veSeen wins this one, by a whisker
My word I had to trawl through a lot of !!!!!! public policy reports for this, I hope you appreciate it epz & I'veSeen
Damn, missed wages off. Someone else can do that one if they can be arsed."Mrs. Pench, you've won the car contest, would you like a triumph spitfire or 3000 in cash?" He smiled.
Mrs. Pench took the money. "What will you do with it all? Not that it's any of my business," he giggled.
"I think I'll become an alcoholic," said Betty.0 -
for those interested in the NI market
http://www.treesdontgrowtothesky.com/PropertynewsNI/05.04.08.php
Wow, every week now there are 800+ properties with price drops averaging about 7%. Anyone who isn't dropping their price isn't really interested in selling.Stercus accidit0 -
Guy_Montag wrote: »My word I had to trawl through a lot of !!!!!! public policy reports for this, I hope you appreciate it epz & I'veSeen
Why do you bother - it's pretty clear that the more bullish posters here pay absolutely no notice to trivial things like facts and figures
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Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.0 -
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Guy_Montag wrote: »Damn, missed wages off. Someone else can do that one if they can be arsed.
I appreciate your efforts Guy.
I would not want to try and compete with your research into the wages issue, however from Nationwide Quarter 1 2008 report, Nationwides Chief Economist Fionnuala Early states that : -
"Scotland's relatively good performance in comparison to the rest of the UK is proably due to the fact that mortgage affordability in Scotland is less stretched thand elsewhere. Despite having seen double digit growth in 5 out of the last 6 ywears, the average house in Scotland is still the second lowest in all of the UK regions, while the house price to earnings ratio is lower than in any other region"
http://www.nationwide.co.uk/hpi/historical/q1_2008.pdf
This backs up what I have been saying in that there is still affordable housing in Scotland, although granted, I think the last few years has been stretching the affordability:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0
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