Str

crusty_toenail

HAMISH_MCTAVISH wrote: »

Actually, according to Nationwide, N.I. average prices have risen by 9.5% in the last quarter.

NI saw bigger than average gains, and has also seen bigger than average falls. The worst is over, even there.

lol:rotfl:everyone here knows house prices are not selling, they are falling daily.

These Nationwide results are showing the only homes selling are the bigger, 2nd, 3rd time buys, first time buyers still priced out of the market here Hamish. So, of course it will show the average is going up!

Transaction levels are so low, the market here is pretty ill.

Wonderful news for first time buyers as prices are going to hit fundamentals re wages and great news for those that want to trade up, less money to put to your bigger purchase. Also fantastic news for people who sold (at the right time) and now rent.

What people don't understand is the same economic conditions that created the boom will not be there for the bust, money never flows back into a bubble, it gets directed elsewhere.:cool:

Really2

crusty_toenail wrote: »

I live in Northern Ireland, we had the biggest housing bubble fuelled by Republic of Ireland speculators, now the bubble has burst big time here and in the south, still falling too.

Cheers Bud, Don't feel I was trying to disbelieve you, but some times it is hard to look past your own locality on house prices.

I never thought of NI.

Davesnave

Selling and renting worked and was profitable for us, despite being told here that we'd 'missed the boat.'

We didn't intend to rent, but timing a sale with the availability of a fairly specific kind of property, is hard. Having sold a good house we'd enjoyed living in, and not wanting to move again for a long time, it would have been a bit daft to accept something second best.

So, yes, when our sale from the peak of September 2007 went down the pan, we were forced to do a lot of rethinking. Now, we realise that buying in 2007 would have been the riskiest strategy of all.

We hold that view because the two properties which were then making us excited are still on the market! Though one is £50k cheaper, it is still overpriced. The other one is now totally off the silliness scale.

If they were our 'boats,' we're glad we took the longer overland route to where we are now!:D

Really2

To tell you the truth I don't think there would not be much different between STR and just selling to buy if you got a good deal.:o

Even if you did purchase last year without much of a discount if you got a tracker I dare say you will be paying back a fair bit now in over payments.

If you went in to either with your eyes open and an ear to the ground STR or selling to buy would have or will have worked for you.

I am still very happy with when I purchased but more than that I am happy with what and where I purchased.

HAMISH_MCTAVISH

crusty_toenail wrote: »

lol:rotfl:everyone here knows house prices are not selling, they are falling daily.

.:cool:

Yes, because anecdotal tales are much better proof than national indices.:rolleyes:

Pete111

Totally empathise with Cleavers previous post!

We bought in late summer 07 and rented our flat out at the same time. The main rationale for that was that we were moving to Kent from London and wanted to ensure we had a pad back in the city if we didn't like the rural way of life.

We got the agents to value the flat for sale at the same time as they did the rental valuation and...well we would have made a killing (nearly 150k in 3.5 years) but we chose not to sell for the resaons above - Hindsight is a wonderful thing!

On the plus side, our current house is apparenty not far off the value we paid for it (according to a surveyor and relevant sold prices in our immediate area) and we are enjoying living out of the smoke. A new mortgage has just kicked in saving us over £500 per month and we have knocked nearly 25% off the mortgage balance in under 2 years (in no small part due to my extremely bright & hardworking wife!)

The flat still has at least a 30% equity cushion and is making 15%+ net rental returns p/a. So far playing landlord has been ok...

In a nutshell then, although it would be nice to have banked that 150k and possibly saved a chunk on our current place - Things could be an awful lot worse!!

crusty_toenail

HAMISH_MCTAVISH wrote: »

Yes, because anecdotal tales are much better proof than national indices.:rolleyes:

Not just anecdotal Hamish, there is websites set up which have been tracking the Irish (both north and south) housing market for over 2 years, which show price drops/rises per week, 'sale agreed' figures and 'back to sale' figures etc........... anyone interested can go to:

treesdontgrowtothesky.com :T

just one example of non-anecdotal evidence, I have done my own research;)

geoffky

I took big risk three times in my life lost twice and cost me so much its still painful but the third time i was lucky and it paid off but i put it down to luck in the right person coming along..

geoffky

gorden brown...and his miracle economy..:beer:

Really2

geoffky wrote: »

gorden brown...and his miracle economy..:beer:

I like the Sig Geoff, Reminds me I have purchased 14% below that level and have already paid off 7% in the last year.