Any other home buyers in NI?

GlynD

So was I right or wrong? The market had bottomed out is what I said.

steveymp

GlynD wrote: »

So was I right or wrong? The market had bottomed out is what I said.

Matter of opinion, EA's and bankers will tell you Yes and now is the time to line their pockets again as they have had it up them for a few years :rotfl:

Most sane people will tell you there is a long way to go

Even in our wee country we can be very regional on house prices, just because Cherry Valley is stable or rising does mean the rest of the country is on the up.

missma

We are currently sale agreed Terrace in East Belfast, it seems this market has really bottomed out and have agreed at 13.5 k less than we bought for 9 years ago. We decided to bite the bullet as have been hanging on in hope for about 4-5 years and putting more and more money into maintanence of house. We had offers of 185k on this house in peak before new kitchen and other work.

We are probably going for new build and short term rental. Looked at several 3/4 bed properties in East/ South Belfast and most we viewed bidding started almost right away and were sale agreed in no time. I feel first time buyers are jumping past terrace to 3 bed semi.

tara747

missma wrote: »

We are currently sale agreed Terrace in East Belfast, it seems this market has really bottomed out and have agreed at 13.5 k less than we bought for 9 years ago. We decided to bite the bullet as have been hanging on in hope for about 4-5 years and putting more and more money into maintanence of house. We had offers of 185k on this house in peak before new kitchen and other work.

We are probably going for new build and short term rental. Looked at several 3/4 bed properties in East/ South Belfast and most we viewed bidding started almost right away and were sale agreed in no time. I feel first time buyers are jumping past terrace to 3 bed semi.

I think that you may be a tad biased, this sounds like hopeful thinking.

Wishing you well with your new house. :A

steveymp wrote: »

Matter of opinion, EA's and bankers will tell you Yes and now is the time to line their pockets again as they have had it up them for a few years :rotfl:

Most sane people will tell you there is a long way to go

Even in our wee country we can be very regional on house prices, just because Cherry Valley is stable or rising does mean the rest of the country is on the up.

Very true. I'm in the 'sane people' camp.

lazer

missma wrote: »

We are currently sale agreed Terrace in East Belfast, it seems this market has really bottomed out and have agreed at 13.5 k less than we bought for 9 years ago. We decided to bite the bullet as have been hanging on in hope for about 4-5 years and putting more and more money into maintanence of house. We had offers of 185k on this house in peak before new kitchen and other work.

We are probably going for new build and short term rental. Looked at several 3/4 bed properties in East/ South Belfast and most we viewed bidding started almost right away and were sale agreed in no time. I feel first time buyers are jumping past terrace to 3 bed semi.

If they have sense they will - Its what I did, I waited until I could afford a house that i could live in forever, that way I won't feel trapped if I happen to go into negative equity (Which I don't think I will anyway).

If I had done what many family memebers were encouraging me and bought a flat in Belfast about 7 years ago - then I would have been up s**t creek without a paddle.

I would encourage everyone to buy a house they could live in forever if they needed to.

saverbuyer

With interest rates at 0.5%, and price falling 3% in the past 12 months, it's a brave man who calls this the bottom. The government will carry on throwing the kitchen sink at the "problem" regardless.

It might be the bottom for the bottom section of the market, but then these are held up by housing benefit. With a U.K. housing benefit bill of £27 billion and N.I. one of £700 million:eek:, it would be an obvious choice for future cuts. The only one to suffer would be the landlords.

GlynD

Just nice to know my judgement was reasonably sound. I'm no expert when it comes to buying and selling houses but I had a gut feeling.

tara747

GlynD wrote: »

Just nice to know my judgement was reasonably sound. I'm no expert when it comes to buying and selling houses but I had a gut feeling.

Have you managed to determine whether the market has bottomed out, then?

I don't think that it has, FWIW. South Belfast is still overpriced IMHO, as are several commuter towns near Belfast.

When's the next house price report due? The official one from NISRA, not the b*llsh*t one from Ulster Bank and the University of Ulster. :rotfl:

tara747

Just checked - it's to be published on 20 November.

GlynD

tara747 wrote: »

Have you managed to determine whether the market has bottomed out, then?

I don't think that it has, FWIW. South Belfast is still overpriced IMHO, as are several commuter towns near Belfast.

When's the next house price report due? The official one from NISRA, not the b*llsh*t one from Ulster Bank and the University of Ulster. :rotfl:

tara747 wrote: »

Just checked - it's to be published on 20 November.

Tara I'm not going to get into a deep discussion about this. I just don't have the knowledge, nor do I have the inclination at the moment. The last time we discussed it I felt more passionate about the subject.

From where I'm sitting and from what I've heard on the news and elsewhere it does seem as if market recovery has started. Ok that may be largely bummed up to make it all sound great but there's always a kernel of truth.

I stand by what I said some months ago however; that you'd be doing yourself no harm to buy now because if prices haven't bottomed out, they're pretty close to it and I think within fives years you'd see the value of your property come up respectably. I can see that happening in my own area although things are still very slow. We've been here nearly four years now and sold prices have gone up about £10,000 for similar properties to ours.