Any other home buyers in NI?

motorguy

I thought this made interesting reading, though its only indirectly related to this particular thread....

Business recovery in Northern Ireland 'gathers pace'


http://www.bbc.co.uk/news/uk-northern-ireland-25261947

motorguy

Heard this on the news this morning, although the BBC website hasnt picked it up yet...

House prices rise for sixth month


http://www.u.tv/News/House-prices-rise-for-sixth-month/016454ca-6d5b-41f9-9e4e-68cff4645d14

motorguy

RICS predicted 4% increase in house prices next year.

http://www.bbc.co.uk/news/uk-northern-ireland-25441153

warmhands.coldheart

motorguy wrote: »

RICS predicted 4% increase in house prices next year.

http://www.bbc.co.uk/news/uk-northern-ireland-25441153

They Would !!

motorguy

warmhands.coldheart wrote: »

They Would !!

I dont see why.

According to common thinking on here, prices need to be lower for more people to buy.

Prices going up could mean less people being willing or able to buy = less sales = less money for them.

So surely they're shooting themselves in the foot but forecasting prices going up, which could put buyers off buying?

Either way, the market seems to have bottomed out some time during 2013, so it doesnt seem unreasonable to be predicting a modest rise.

warmhands.coldheart

motorguy wrote: »

I dont see why.

According to common thinking on here, prices need to be lower for more people to buy.

Prices going up could mean less people being willing or able to buy = less sales = less money for them.

So surely they're shooting themselves in the foot but forecasting prices going up, which could put buyers off buying?

Either way, the market seems to have bottomed out some time during 2013, so it doesnt seem unreasonable to be predicting a modest rise.

Couple of months of reports of house prices rising and people start to think. "sh.it, prices are going up again, better buy now when we can nearly afford it or else we'll miss the boat!" and so the cycle begins again !!

motorguy

warmhands.coldheart wrote: »

Couple of months of reports of house prices rising and people start to think. "sh.it, prices are going up again, better buy now when we can nearly afford it or else we'll miss the boat!" and so the cycle begins again !!

Nah, not as simple as that.

Confidence is returning, those who have been renting are wanting on to the property ladder, mortgages are more buyer friendly, house prices are more realistic, new developments are opening up, outlook is more optimistic, pay rises are starting to kick in again, unemployment is down, etc, etc.

Another big influence is, we're now seeing a new generation of first time buyers coming through who have no baggage at all from the price crash of 7 years ago, and are seeing the market differently than those who were through what was for a lot of people a traumatic time.

All of these are factors towards price increases, not "oh i must buy a house now even though no other circumstance in my life has changed"

warmhands.coldheart

motorguy wrote: »

..... outlook is more optimistic, pay rises are starting to kick in again, unemployment is down, etc, etc..."

.... ahhhhh then we have the new council boundaries coming in a year or so, meaning people being made redundant !!


inevitable the DVLA will close in Coleraine as car tax is going on-line. more redundancies......


Unless private sector grows more and quicker, nothing will change

motorguy

warmhands.coldheart wrote: »

.... ahhhhh then we have the new council boundaries coming in a year or so, meaning people being made redundant !!


inevitable the DVLA will close in Coleraine as car tax is going on-line. more redundancies......


Unless private sector grows more and quicker, nothing will change

There are always + / - events in employment. Lots of jobs out there and the market is improving.

Will be interesting to watch as it pans out.

warmhands.coldheart

motorguy wrote: »

There are always + / - events in employment. Lots of jobs out there and the market is improving.

Will be interesting to watch as it pans out.

It will, and there will always be Hotspot areas where prices will rise and Belfast will always perform better than all the other areas. Then you'll get the black spots out in the more rural locations where it'll be quite some time yet before things improve..