Where in belfast area for first time buyer?

jetboy

I made an error in my initial calculation in that I compiled the figures based on interest only at £700. You have said that would be the rate for a repayment mortgage in your case which makes the argument for buying even stronger. I based the figures on a growth rate of 5% which is in and around the savings rate. Even if you believe the most pessimistic of pundits the rate of growth on housing in NI will not fall below this mark over the next 2 years. However if you want a guarantee, buy a toaster.
As I said before you're already made your mind up so where is this thread going? lets all come back in 2 years and see what's happened.

leftieM

House prices rose by 5% on average here in October alone. It was as high as 7% in some areas and as low as 3% in others. The data came from valuers/ surveyors.
I read it in the Belfast Telegraph 16th of November. Unfortunately it's been moved to their pay-to-access service.

NAR

talksalot81 wrote:

If anyone takes the time to look at my posts, I am confident in my views but have repeatedly stated to the effect 'if I am right'. I never said that I am definitely right, it is the other posters who are telling me that I am definitely wrong!

Your post #1 states

We have been doing a bit of searching on our own, but the combined resources of MSE are something we cannot hope to match!

Make your mind up, are you going to accept advice or not?

PropertyGuru

be very careful about over-extending yourself in the irish market at the present time. EC rates have only 1 direction to go. Up.

leftieM

I think, looking at post #9, that the OP wanted us to tell him that he could get a semi in Dundonald for 180k. We all knew it wasn't a goer (I had looked into moving there in May and the semis were hitting the 180k+ mark back then.)
I suppose it's a shock to find that the listed house price isn't the price you pay. I don't know when I cottoned on to this myself - probably when I discovered Templeton Robinson's website!

leftieM

PropertyGuru wrote:

be very careful about over-extending yourself in the irish market at the present time. EC rates have only 1 direction to go. Up.

EC rates may well have only one way to go but what does that have to do with this discussion? You're either very astute in that you know there is a lot of Dublin money invested here that could be pulled out suddenly if there was a crash in Ireland or you don't realise that Northern Ireland is part of the UK. Please let it not be the latter or I will cry with despair.

A_Fool_&_His_Borrowed_Mon

talksalot81 wrote:

Yup, but it cannot happen here.

I Agree wholeheartedly,

People who say that there's a prices crash are just plain nuts. There's as much chance of Elvis Preley Landing landing in a UFO in my back Garden & telling me im a millionaire, than a hpi crash occuring.

ginger_nuts

Does a FTB really need a semi detached house ( Regardlesss off price ).Whats wrong with starting off in a terrace like the rest off us and working upwards .
Some people need to learn to walk before they can run.

A_Fool_&_His_Borrowed_Mon

PropertyGuru wrote:

be very careful about over-extending yourself in the irish market at the present time. EC rates have only 1 direction to go. Up.

You're cuckoo, rates are on the way down. My EA told me so, and as you know, Estate agents never lie.

Thriftylady

[/QUOTE]Would anyone have predicted five years ago that the housing market boom was about to take place? Hindsight is a wonderful thing. But the main positive that we can all see is that it looks as if we will have peace in this country for quite a period of time, which will continue to have a very strong positive influence in the housing market.[/QUOTE]

so true! when I bought my first house people told me I was mad to pay the money I did, as the housing market was due for a crash in the very near future. I took the risk, and its just as well I did. The £41k I paid for an ex-council terrace seems laughably low now. I'm not suggesting for a second that this means it will continue this way in future, but when I've discussed this with other people I've been amazed by the number of people who have said exactly the same thing - that when they bought their houses people said they were mad. And the funny thing is that people have been saying this not just for the past five years but for the past 40 years - my parents bought their house in the early sixties and people said exactly the same thing then. Its just a thought....