House prices....

avenida

I had my house on mrkt 4 a year and took it of as a result of one stupid offer and a handful of viewers, was now thinking of putting house on market again but at a very competitive price this time.

Not sure if theres any point as I read that the average deposite for a first time buyer is £29K:eek:

Is there any point in trying to sell in Northern ireland with high deposits and jobs being cut in the public sector?

tara747

Thanks for the bear food, going to be an interesting 2011!!!!!

mark206000

avenida wrote: »

I had my house on mrkt 4 a year and took it of as a result of one stupid offer and a handful of viewers, was now thinking of putting house on market again but at a very competitive price this time.

Not sure if theres any point as I read that the average deposite for a first time buyer is £29K:eek:

Is there any point in trying to sell in Northern ireland with high deposits and jobs being cut in the public sector?

Many are perhaps in the same boat as myself. I've been waiting on buying a house for the best part of 2 years now. I have the money and the deposit to do it, but I simply won't pay what some people are asking for their houses. (Not saying this is you!)

Checking on property bee (get it if you dont have it!) houses I've been looking at when they were £160k - £170k are now down to £120k -£130k, sometimes even less.

Job cuts still to come, fuel and everything else going sky high, what's pushing me into buying a house at the moment ?! I've resigned myself to another year of waiting and saving unless something I like comes up at a great price, I won't hold my breath tho !

Plenty of bear food about at the minute Tara747, from the BellyTele just the other day, interesting comments also..

http://www.belfasttelegraph.co.uk/news/local-national/northern-ireland/ulster-house-prices-lsquowill-keep-falling-into-2012rsquo-15043326.html#ixzz19z6Z1wO1

avenida

mark206000 wrote: »

Plenty of bear food about at the minute Tara747, from the BellyTele just the other day, interesting comments also..

http://www.belfasttelegraph.co.uk/news/local-national/northern-ireland/ulster-house-prices-lsquowill-keep-falling-into-2012rsquo-15043326.html#ixzz19z6Z1wO1

Just reading that article and this was interesting quote "House prices are being kept artificially high because of the low interest rate policy of the Bank of England. When interest rates begin to rise, and they will have to rise in the near future, that is when the carnage will begin"

I would have to put another 25-30K onto my mortgage to move not to mention estate agent, solicitor and stamp duty fees, probably best just to settle for what I have even though I would love to move, maybe a freshen up of the rooms and a bit of diy to do up the bathroom might help If we were to move there would be no more family holidays thats for sure which wouldnt be good, I just want my cake and eat it

tara747

mark206000 wrote: »

Many are perhaps in the same boat as myself. I've been waiting on buying a house for the best part of 2 years now. I have the money and the deposit to do it, but I simply won't pay what some people are asking for their houses. (Not saying this is you!)

Checking on property bee (get it if you dont have it!) houses I've been looking at when they were £160k - £170k are now down to £120k -£130k, sometimes even less.

Job cuts still to come, fuel and everything else going sky high, what's pushing me into buying a house at the moment ?! I've resigned myself to another year of waiting and saving unless something I like comes up at a great price, I won't hold my breath tho !

Plenty of bear food about at the minute Tara747, from the BellyTele just the other day, interesting comments also..

http://www.belfasttelegraph.co.uk/news/local-national/northern-ireland/ulster-house-prices-lsquowill-keep-falling-into-2012rsquo-15043326.html#ixzz19z6Z1wO1

Can't see the comments, are they censored??? Things are that bad :rotfl:

I am the same as you, just sitting tight as asking prices are still on the high side

motorguy

avenida wrote: »

Just reading that article and this was interesting quote "House prices are being kept artificially high because of the low interest rate policy of the Bank of England. When interest rates begin to rise, and they will have to rise in the near future, that is when the carnage will begin"

I would have to put another 25-30K onto my mortgage to move not to mention estate agent, solicitor and stamp duty fees, probably best just to settle for what I have even though I would love to move, maybe a freshen up of the rooms and a bit of diy to do up the bathroom might help If we were to move there would be no more family holidays thats for sure which wouldnt be good, I just want my cake and eat it

Funny in the report i read, it said "One would anticipate that correction is more or less complete"

motorguy

tara747 wrote: »

I take no notice of LPS, UPS, RBS, AIB, propertynews or anyone else when I decide how much a house is worth. It's worth what I'm prepared to pay and not a penny more.

Only 'to you'.

The seller may not be prepared to sell it for what you can afford to pay.

x12yhp

pgilc1 wrote: »

Funny in the report i read, it said "One would anticipate that correction is more or less complete"

What report would that be and how do they get around the inevitable job cuts and the highly likely interest rises?

pgilc1 wrote: »

Only 'to you'.

The seller may not be prepared to sell it for what you can afford to pay.

Think about this... buyers are not leveraged. They may want to buy but they never actually need to. Sellers are the opposite. Sellers may not want to sell but, sooner or later, they will need to.

Raise the interest rates and a lot of sellers will transition from want to need. So unless you have a crystal ball telling you about interest rates... I find it unwise to be too bullish on sellers and their pricing!

leftieM

pgilc1 wrote: »

Funny in the report i read, it said "One would anticipate that correction is more or less complete"

Can I borrow Prof. Adair's crystal ball when he's finished with it? I assume he had one when he made that comment because he didn't bother to produce any facts to back up his statement. On the contrary, his report talks of continued falls in prices and sales at a thrid of their 2005 levels. Not the stuff of completed price corrections.

tara747

pgilc1 wrote: »

Only 'to you'.

The seller may not be prepared to sell it for what you can afford to pay.

Quite true. And that is why we have the mother of all house price crashes happening here.