Any other home buyers in NI?

tommie

2012Saver wrote: »

Hi everyone, I'm a MSE forum newbite from NI.

I am currently saving up for a house deposit, I will be a first time buyer.

I just wanted to know if there is anyone else out there who has recently bought a house in NI, be it first time buyers or otherwise, what kind of a deposit did you need and what percentage of the total house price was this?

Just to get an idea of what kind of a figure I need to have in mind as a target!

Looking forward to hearing from you all!

2012Saver

this post by another N.I. member relates the pitfalls of being a first-time buyer in northern ireland
https://forums.moneysavingexpert.com/discussion/4377581

`buyer beware`:(

GlynD

tommie wrote: »

this post by another N.I. member relates the pitfalls of being a first-time buyer anywhere. [STRIKE]in northern ireland[/STRIKE]https://forums.moneysavingexpert.com/discussion/4377581

`buyer beware`:(

Corrected it for you.

tommie

tommie wrote: »

this post by another n.i. Member relates the pitfalls of being a first-time buyer, especially in northern ireland
https://forums.moneysavingexpert.com/discussion/4377581

`buyer beware`:(

"edited" !!!

GlynD

tommie wrote: »

"edited" !!!

So you're saying the negative equity problem is worse in NI? Care to back that up with figures?

tommie

easy!!!

bigger percentage Boom pre `07

hence

bigger percentage Bust post `07

(please reread that link i`ve posted again)

GlynD

tommie wrote: »

easy!!!

bigger percentage Boom pre `07

hence

bigger percentage Bust post `07

(please reread that link i`ve posted again)

Same thing is happening to the same extent in the south of England. It happened before in the 80's and it'll likely happen again before I shuffle off this mortal coil.

It's life - get over it :cool:

saverbuyer

35% of all house purchases since 2005 (in N.I.) are in negative equity.
That's 69,000 houses. :eek:

The figure is 10% for the whole of the UK since 2005.

So pretty big difference there then.

tommie

London/Home Counties completely different set of factors,

this is the most educational piece on the Housing Market in N.I.

take your time and go through all the pages..

http://www.slideshare.net/Ramseconomics/northern-ireland-housing-market-december-2012#btnNext

GlynD

saverbuyer wrote: »

35% of all house purchases since 2005 (in N.I.) are in negative equity.
That's 69,000 houses. :eek:

The figure is 10% for the whole of the UK since 2005.

So pretty big difference there then.

What are the numbers for GB?

tommie wrote: »

London/Home Counties completely different set of factors,

this is the most educational piece on the Housing Market in N.I.

take your time and go through all the pages..

http://www.slideshare.net/Ramseconomics/northern-ireland-housing-market-december-2012#btnNext

Look - if England sneezes we catch a cold. We'll get over it. It's all happened before and I lived through it - and made a little money, even when the market was depressed. There's no point in whinging and crying about it now. Just sit tight and it'll pass.

saverbuyer

GlynD wrote: »

What are the numbers for GB?

See above. 10%

Interestingly for the south of England it's only 5%.

Not really similar to the N.I. figure of 35% you'll admit.