new development is now wrong time to buy in Northern Ireland

tight_arze

Money_Grabber13579 wrote: »

Was that Cooper's Mill? We looked at those, but they were pretty expensive considering it didn't seem the best ever area to live and traffic would be a nightmare.

Yes it was Coopers Mill. I spoke to the agent about the 1st phase and they said the developer wanted the asking price, no lower offers would be considered.

Be interesting to see if the next phase shifts at those crazy prices.

missma

Yea that is an option, think it has to be considered selling to be chain free would be bit scary though, though can understand how it would put us in better position.

Old_Git

assuming you get your own house sold ,would you be able to get a mortgage for the amount you need .

Remember the ormeau bakery .A developer can and will hold you to the purchase even if you cant get a mortgage .

motorguy

Indo77 wrote: »

Hi all,

We really need to move at some point, was never the plan to stay in this property long term, (not sure if we would get it sold it would probably suit a first time buyer). We went and looked at a new development in Belfast recently and our still considering it, the houses would not be ready for 9-12 months. Are we crazy even thinking about it?

I think all the subsequent talk on this thread RE: negotiating the developer down, etc, only holds water if you can sell your own house and therefore not be in a chain. Any developer will laugh at you if you try to negotiate money off when you are not in a position to buy anyway - he'll have heard it a thousand times before.

Also, make sure you can get the mortgage for the amount you need first. Mortgage companies are incredibly sticky at the moment - all the old rules no longer apply.

Put your own house on the market, IF it sells, consider renting for a short time until you get the right house at the right price.

BatCat

You do know Cooper's mill is right next to Ballybeen don't you?

warmhands.coldheart

On BBC Website today... Interesting though Rents are apparently going up..... Wonder if this is only in Belfast.... Certainly no shortage of housing around Craigavon!!

southantrim3

I think she could also be talking about Blackrock in Mallusk which is also in it's 2nd phase. I looked at a few of these and they look way over priced. £185k for a 3bed semi is a bit much, don't think I'd want to pay any more than £150k at present and even that figures going down after the news on the BBC website today.

tara747

Rents are definitely not going up lol. There is a massive oversupply of houses for sale and to let.

Asking rents may be going up but this is just optimism. We are paying less than last year in the same house, just negotiated down!

mypie

tara747 wrote: »

Rents are definitely not going up lol. There is a massive oversupply of houses for sale and to let.

Asking rents may be going up but this is just optimism. We are paying less than last year in the same house, just negotiated down!

Your very lucky. we did rent until 6 mths ago with rent costing 450 per mth and they wanted to put it up to 500. I seen it on the net for let with a property agent for 555 permonth. That was a 2 bed flat in a not so good area. My Brother in law has been looking for a new place to rent too and can't find anything to suit his budget.

tara747

mypie wrote: »

Your very lucky. we did rent until 6 mths ago with rent costing 450 per mth and they wanted to put it up to 500. I seen it on the net for let with a property agent for 555 permonth. That was a 2 bed flat in a not so good area. My Brother in law has been looking for a new place to rent too and can't find anything to suit his budget.

Goodness!!!! Whereabouts is this?