House Prices

x12yhp

One still wonders.... apparently one of the BP stations outside holywood has plans to knock down or build in the grounds a bunch more apartments. Locals are not said to be pleased.

Why? Sure there is an abundance of apartments sitting unsold?! I am all for a bit more freedom in planning but this seems to be a bit absurd.

mumoffour77

LOL just Pmd you tara!!

seatzie

x12 that'll be the one on the Bangor out of Belfast side I'd guess since the other has been renovated and extended - can't see them selling myself!

warmhands.coldheart

seatzie wrote: »

warmhands, out of curiosity which area are you in if you don't mind

The Lost City :rotfl:
Surely everyone knows where that is?? Ask Newton Emerson!

warmhands.coldheart

seatzie wrote: »

developers have cottoned on because they NEED to sell or rather the banks need them to sell lol, individuals dont necessarily need to sell as presumably is the case with the vacant house near you though 2 years at same price is a bit misguided me thinks

OK if you have no mortgage etc but you would still need insurance to cover any accidents like fire etc and as the property is empty I'd imagine you'd have to pay a premium for that..
It's not even rented out.... Crazy...
the interest alone on £135,000 (A more realistic price for the house) at 2.5% is nearly £7000 over those 2 years...
he could also have rented it out for £500/month which would have made him potentially over £10,000..
Also is it not liable for Capital Gains Tax after 3 years as he has built a new house which he lives in with wife and kids...

seatzie

lol me thinks you know too much about this unoccupied house lol

seatzie

warmhands.coldheart wrote: »

The Lost City :rotfl:
Surely everyone knows where that is?? Ask Newton Emerson!

lol just googled that! very good

caz2703

Our neighbour has had his house on the market for somewhere approaching 18 months. He's now on his 2nd estate agent as the first one told him that he could get more than £170K for his house. Now over a year later he's acccepted an offer around £135K plus he's been paying £800/month on a mortage so one heck of a drop. Scary thing is that we bought our house for around £170K and we've spent 3 years and a few thousand modernising it and now we can't even get a joint mortgage as the LTV figures don't work in our favour.

I too think that people need to wake up and smell the coffee. Yes, house prices have reduced and our next step up would be almost within reach apart from the whole negative equity thing! I was actually talking to my mum about this recently as she couldn't figure out why it takes 2 salaries to run our house (3 bed semi in Bangor) when they were able to manage on one salary (3 bed semi E. Belfast). They were able to get a mortgage of 2.5x combined for their house. We would have been able to get 2.5x combined for our house so what's the difference? Well the salaries myself and hubby are earning dwarf those that my parents were on in their day plus the mortgage we do have (in hubby's name only) was at one stage 1/4 of our combined salaries until the interest rate plummeted. I think it has finally hit home that just because we earn good money doesn't mean that we spend money on fancy holidays, instead, our salaries pay for the house with a bit left over which is now paying for my maternity leave.

Old_Git

warmhands.coldheart wrote: »

The Lost City :rotfl:
Surely everyone knows where that is?? Ask Newton Emerson!

I thought it was roundabout city

warmhands.coldheart

Old_Git wrote: »

I thought it was roundabout city

Hmmmmmm well you could say that but the number of roundabouts links well in with the "Lost" City title as it's very easy to get lost on all the bl**dy roundabouts...

I still take a wrong turn now and again and I've lived there 5 years now!!
Makes for exciting journeys..... you never have to take the same route each week :rotfl::rotfl: