House prices....

Mistral001

saverbuyer wrote: »

I'm confused. This one said they were down a lot more. £98,000 now the average price.

http://www.bbc.co.uk/news/uk-northern-ireland-18175464

I think that is for NEW houses only.

freddiemae

Mistral001 wrote: »

I think that is for NEW houses only.

I think you are wrong - this index that has been produced by Land and Property services in conjunction with HMRC and uses data on nearly all sales including auction sales. Only exempt transfers are excluded. This includes all houses not just new houses. Read all about it here.
http://www.newsletter.co.uk/news/business/business-news/house-prices-remain-in-turmoil-1-3875634

You will not read about it in the Belfast Telegraph since they chose to repeat the mantra of the UU/BofI report which is opinion based hearsay by estate agents. Advertising revenues must be more important than quality journalism.

Mistral001

freddiemae wrote: »

I think you are wrong - this index that has been produced by Land and Property services in conjunction with HMRC and uses data on nearly all sales including auction sales. Only exempt transfers are excluded. This includes all houses not just new houses. Read all about it here.
http://www.newsletter.co.uk/news/business/business-news/house-prices-remain-in-turmoil-1-3875634

You will not read about it in the Belfast Telegraph since they chose to repeat the mantra of the UU/BofI report which is opinion based hearsay by estate agents. Advertising revenues must be more important than quality journalism.

You got me worried that I had been seeing things. The article I was referring to stated the following.

"Last week a new house price survey produced by
government statisticians, which used stamp duty returns, put the average house price in Northern Ireland at the much lower figure of £98,500."

Well, it could be interpreted wrongly. Couldn't it?

warmhands.coldheart

Completely agree with comments about private sellers still asking way over the odds...... they will learn... eventually!

saverbuyer

I've just read the details of the new index. Looks good and contains all sales (including repos). I didn't realize the university one was based on information given by estate agents and thought that there were actual checks on this. It seems the data is pretty useless.

Great to see average prices falling by 7% in the last 3 months alone. £99,000 as an average is still pretty high even if we are at 2003 prices. I don't think I would be comfortable paying anywhere near rateable value now.

It looks like on the whole little is even selling and as others say sellers need to get real. I blame the developers and estate agents; they seem to think the "good times" are just around the corner.

I pity anyone who bought or built recently, you'll probably never see the money you spent never mind the interest payments.

Mistral001

Average house prices going by what estate agents tell some academics is £134K.

Averages houses prices going by what people actually pay stamp duty on is £98K.

To me that is the story the journalists should be concentrating on.

wanchai_2

Well, of course, the University/Ulster Bank survey is a pile of nonsense :rotfl: Never trust an EA!

saverbuyer

I can't get over how such a comprehensive report was miss by the Belfast Telegraph. Do they have something to hide? Why have a story about the EA sponsored one, but completely miss this other one with a £99,000 average?

It's not like they didn't love to write about the boom in house prices on the way up.

Mistral001

saverbuyer wrote: »

I can't get over how such a comprehensive report was miss by the Belfast Telegraph. Do they have something to hide? Why have a store about the EA sponsored one but completely miss this other one with a 99,000 average?

It's not like they didn't love to write about the boom in house prices on the way up.

Look at the advertising space taken by estate agents in the various newspapers and you might get a clue. Golden eggs and gooses come to mind.

neilem

Mistral001 wrote: »

Look at the advertising space taken by estate agents in the various newspapers and you might get a clue. Golden eggs and gooses come to mind.

Unreal.

Belfast Telegraph had the article on their website recently which referenced the UU/BoI "research" to this £134,560 average. They had the comments initially turned on, and of course the majority of users commented about asking prices still being too high, also linking the more accurate RPPI report which gives a sub-£100K average.

....Belfast Telegraph then disabled and removed all comments.