Any other home buyers in NI?

saverbuyer

GlynD wrote: »

I see in the news today they're saying that the construction industry is out of recession here now. I'm sure a lot of this has been effected by the introduction of govt cash but I also see some former ghost estates near me coming to life again. Would you agree this is a sign of market recovery?

I thought I read yesterday it was still contracting?

GlynD

saverbuyer wrote: »

I thought I read yesterday it was still contracting?

The article is here: http://www.bbc.co.uk/news/uk-northern-ireland-24611885

Make what you will of it. I'm afraid I don't know enough to make an informed comment.

qwert_yuiop

motorguy wrote: »

When we got the estate agents out some years ago when we were going to attempt to sell, it was a perception then that we "might" get £100,000 for it, if we were to put it on the market, however it was perceived at that point it would take a year at that price.

We are talking at the bleakest of the bleak time. Complete dispair. Weeping wailing nashing of teeth by buyers, banks, estate agents, solicitors, etc, etc.

Therefore the figure that was bandied about was that it would have had to have been put on at a heavily discounted price - a - say £80,000 to get it sold quickly.

Finger in the air stuff, but we took our decision to rent based on that "worse case" scenario.

I am sure saverbuyer will be along in a minute or two to undermine that and tell me it was really only worth a pound then, and its only worth 50p now and its a liability that i need to pay someone to dispose of.

Well maybe he will, but it is definitely worth less than it was "some years ago". The idea of something taking a year to sell is quite simply an absurdity. If it was priced at £x then ,after a year it was worth much less than £x, so to sell it at all meant one thing - "a heavily discounted price".

The gnashing etc has only become less prevalent because we've all accepted the crash by now. Most of us. People eventually get used to everything to some extent.

saverbuyer

motorguy wrote: »

Neither does saverbuyer, not that that will stop him.:eek:

Jaysus, talk about throwing the toys out of the pram Paul.

GlynD

saverbuyer wrote: »

Jaysus, talk about throwing the toys out of the pram Paul.

Ah come on now guys. Let it drop. We had enough nonsense on the NI board yesterday afternoon. I don't want to see you two at each other's throats as well.

qwert_yuiop

GlynD wrote: »

Ah come on now guys. Let it drop. We had enough nonsense on the NI board yesterday afternoon. I don't want to see you two at each other's throats as well.

They're enjoying it. I think it's quite entertaining.

GlynD

qwert_yuiop wrote: »

They're enjoying it. I think it's quite entertaining.

Aye I know. *sigh*. It wasn't so much fun yesterday though when I was the one getting it in the neck.

saverbuyer

motorguy wrote: »

You read wrong then.

http://www.bbc.co.uk/news/uk-northern-ireland-24611885

Did I?

http://www.belfasttelegraph.co.uk/debateni/press-feed/statistical-press-release-latest-labour-market-figures-29666169.html

You worked for a bank for 7 years Paul. Maybe you could break this part down for me.

Construction sector output

· The total volume of construction output in Northern Ireland in the second quarter of 2013 decreased by 5.4% compared to Q1 2013 and was 5.1% lower compared to the same quarter in 2012. This latest quarterly decrease follows two successive quarters of positive growth in construction output

· The value of construction output in real prices in Q2 2013 was estimated to be £452 million, the lowest quarterly value reported in the current series. The level of output reported in Q2 2013 is in the region of 40% lower than the levels of output reported in the quarters before the downturn in 2007. All the sub-sectors of construction experienced a decrease in Q2 2013.

saverbuyer

motorguy wrote: »

You read wrong then.

http://www.bbc.co.uk/news/uk-northern-ireland-24611885

motorguy wrote: »

And why would having worked in a bank qualify me to comment on the construction industry?

You're the "expert" here telling us how we're all wrong

You explain to us why theres conflicting reports.

You were telling me I "read wrong". I thought having worked for so long, you might have a grasp of percentages and could explain how a % decrease actually translates into "coming out of recession". I thought if I “read wrong” you could explain how you read right?

I didn't tell anyone apart from you, you were wrong.

Anyway I'll give you a clue on the "conflicting reports".

One is from Royal Institution of Chartered Surveyors (RICS).

One is from Northern Ireland Statistics & Research Agency (NISRA).

One's very livelihood is based on spending on construction. The other reports statistics. Can you guess which is which?


One of the groups members also consists on estate agents. Guess which one?

qwert_yuiop

motorguy wrote: »

We were told by several estate agents at the time that the house *could* take a year to sell.

Now, of interest, the one next door subsequently went on the market at around the £100k odd mark and it did take easily a year to sell.

The message was along the lines of "its bleak, theres nothing selling. You will have to practically give it away to sell it quickly. If you put it on the market it could take a year to sell and you may have to drop the price anyway". Or words to that effect.

.

So it took a year to sell in a rapidly and continuously deteriorating market. Therefore I am happy to gamble the price of one fine house that the price paid was much less than £100k.

"We're in no hurry to sell. Just waiting for the right price." In a slump?

And prices since 2008 have only gone down.