House prices....

x12yhp

This I appreciate but the data does not yet tell us what has happened in the last year (previously there was still growth, albeit at a slower rate than before). Realistically this should not surprise us massively... things like external investment cannot be expected to be high in times like these and the lack of competitiveness in our home market means that money will start flowing out, sooner or later. I am not a convert of QE at the best of times to be honest...

More important is where the M4 is currently sitting. Compare it to late 80s and early 90s... there is a LOT more money out there and (as previously discussed) there is the potential that it represents a runaway train if it got moving at any speed.

A.L.D.A

x12yhp wrote: »

More important is where the M4 is currently sitting. Compare it to late 80s and early 90s... there is a LOT more money out there and (as previously discussed) there is the potential that it represents a runaway train if it got moving at any speed.

Of course there is more money now!!!!!!!!!!!!!! A fish supper in the 60s cost 9 pence (less than 5p) . It now cost what? If we had the same money supply now as then our economy would cease up. If you charge interest then you either need inflation or growth, or both. If money supply was ballooning now well then we could say that inflation may be looming. The risk now is the very opposite the economy is in danger of imploding.

x12yhp

A.L.D.A wrote: »

Of course there is more money now!!!!!!!!!!!!!! A fish supper in the 60s cost 9 pence (less than 5p) . It now cost what? If we had the same money supply now as then our economy would cease up. If you charge interest then you either need inflation or growth, or both. If money supply was ballooning now well then we could say that inflation may be looming. The risk now is the very opposite the economy is in danger of imploding.

Yeah but that is making as many assumptions as I made with my thoughts! The fact is that inflation is NOT looming, it is happening and it is not showing any signs of decreasing. Stimulating the economy can only make it worse. This line of thought cannot be dismissed as easily as you attempt - were that the case, economic experts would be agreed and life would be simple. The reality is that a great many see serious inflation as a risk.

A.L.D.A

x12yhp inflation will come but not just yet. It is bound to happen for many many reasons, but there is a good side to this for Inflation is the great leveller!

We are getting way off subject.

saverbuyer

A.L.D.A wrote: »

x12yhp inflation will come but not just yet. It is bound to happen for many many reasons, but there is a good side to this for Inflation is the great leveller!

We are getting way off subject.

This makes no sense to me.

Mistral001

If you really want to know what's going on in the housing market, go to the auctions and find out at what price the hammer falls on each property or ask people you know what they got for their house when they sold it. There are very few dependable stastitics because so few houses are being sold in the traditional way (ie. to someone wishing to get a mortgage).

warmhands.coldheart

I've just been looking at a house in Ravenhill Area and the house next to it was originally on earlier in the year at about £350,000, was then reduced to offers around £300,000. and speaking to the EA yesterday and it's sale agreed at £249,950. On the LPS website it's capital value for rates purposes is £260,000. So it goes along the lines of what I’d heard before of, find out what the capital value for rates purposes is and knock 5% or 10% off and you’ll have value house should be priced at..

saverbuyer

warmhands.coldheart wrote: »

I've just been looking at a house in Ravenhill Area and the house next to it was originally on earlier in the year at about £350,000, was then reduced to offers around £300,000. and speaking to the EA yesterday and it's sale agreed at £249,950. On the LPS website it's capital value for rates purposes is £260,000. So it goes along the lines of what I’d heard before of, find out what the capital value for rates purposes is and knock 5% or 10% off and you’ll have value house should be priced at..

I would even go a step further. I think a lot of houses (particulary Belfast) have a their RV overvalued. In some cases 30%+. I've seen houses with EA's in stranmillis and Ormeau at RV-10% asking price and still not selling.

warmhands.coldheart

saverbuyer wrote: »

I would even go a step further. I think a lot of houses (particulary Belfast) have a their RV overvalued. In some cases 30%+. I've seen houses with EA's in stranmillis and Ormeau at RV-10% asking price and still not selling.

I Agree, I suppose it may also be to do with the "Popularity" and the demand of some areas to...

saverbuyer

warmhands.coldheart wrote: »

I Agree, I suppose it may also be to do with the "Popularity" and the demand of some areas to...

I think these areas were “benefiting” from the money that was coming from the South before and during RV setting. Prices were rising and people were buying up buy to lets and doing up houses for flats. It was the place to live with all the “most expensive house in NI” stories.

Thanks God those days are gone.