Tragic case... "This website has failed"

tara747

A house exactly like this sold for £880,000 at the peak to a developer.

http://www.propertynews.com/brochure.php?r=1&c=10&s=122912238&i=9&p=SACSAC0976&fp=1&sort=l2h

:rotfl: :rotfl: :rotfl:

Even now, it won't sell for more than 50% of asking.

AD9898_2

tara747 wrote: »

A house exactly like this sold for £880,000 at the peak to a developer.

http://www.propertynews.com/brochure.php?r=1&c=10&s=122912238&i=9&p=SACSAC0976&fp=1&sort=l2h

:rotfl: :rotfl: :rotfl:

Even now, it won't sell for more than 50% of asking.

I think a simple calculation for house prices is find out what it was worth in 2000, add wage inflation to that figure and hey presto, the new price.

If it's more, it's too much. £880k !?! Jesus some folk are just plain dumb.

Graham_Devon

AD9898 wrote: »

I think a simple calculation for house prices is find out what it was worth in 2000, add wage inflation to that figure and hey presto, the new price.

If it's more, it's too much. £880k !?! Jesus some folk are just plain dumb.

Remember though, people risked missing the boat if they didnt hand over 880k.

Think it's a reasonable price now for the house. 4 bed, 3 receptions, good size, family home.

Just hope prices in the UK reflect this later on.

AD9898_2

Graham_Devon wrote: »

Remember though, people risked missing the boat if they didnt hand over 880k.

Think it's a reasonable price now for the house. 4 bed, 3 receptions, good size, family home.

Just hope prices in the UK reflect this later on.

i think you're right, the only problem is if you find an area where a house of this type is this much, I bet average household income is 30k.

Same if it was somewhere where it was 880k, I bet average household income would be around 70-80k and the only way they can afford a house like this would have been if they'd sold 3-4 houses before, passing the debt on down the line (ladder) until there current property was worth say 500k, making the 880k house affordable.

That's how the housing market seems to work, with ever increasing amounts of debt, we've now reached debt saturation point, hence the stalling in prices and the collapse of approvals.

tara747

Graham_Devon wrote: »

Remember though, people risked missing the boat if they didnt hand over 880k.

Think it's a reasonable price now for the house. 4 bed, 3 receptions, good size, family home.

Just hope prices in the UK reflect this later on.

Can I just point out that this house is not in London, it's in a really dodgy and unsafe part of Belfast where the average wage is about £15k and unemployment is high. £250k is WAAAAY too high a price for it. You'd have to pay someone to live there (danger money). It may sell for £100k (that's if the seller can AFFORD to sell for that, they may be in NE up to their necks).

Sibley

Graham humiliated yet again.

Graham_Devon

Sibley wrote: »

Graham humiliated yet again.

You've got a funny idea on what humiliation is.

doire_2

LydiaJ wrote: »

Rightmove does have some Northern Irish properties, and so does www.daft.ie, which covers all of Ireland, including both the Republic and NI. However, www.propertynews.com describes itself as "Northern Ireland's largest property website", so probably has more properties there (although I'm only guessing). Or when you say "the north of Ireland" did you mean the more northern parts of Eire? If so, I would think www.daft.ie would be the place to look.

Property Bee works with all these sites.

Sorry my mistake regarding Rightmove

PropertyPal is much better than property news though.

By north of ireland i mean northen ireland but due to my political views i dont recognise northern ireland but thats another story

Pobby

I have customers in both N.Ireland and in Eire. Seems grim to me. Not sure about the facts on this, however a very long standing customer in County Cork told me a tale. The story was that a guy had bought a house not far from him. Cost 300k euro. Handed the keys back and is up for sale from the bank for between £30k to 40k euro. Can`t vouch for how true that is but that is the tale.

tara747

Pobby wrote: »

I have customers in both N.Ireland and in Eire. Seems grim to me. Not sure about the facts on this, however a very long standing customer in County Cork told me a tale. The story was that a guy had bought a house not far from him. Cost 300k euro. Handed the keys back and is up for sale from the bank for between £30k to 40k euro. Can`t vouch for how true that is but that is the tale.

I would well believe it. In the Republic of Ireland there are 250,000 empty houses, some on half-finished ghost estates. A lot of them simply have no value as they unsaleable.

In NI the oversupply is not as bad, but it's still bad, and the boom prices went soooo high that they have a way to fall yet.