Northern Ireland Residential Property Price Index

qwert_yuiop

I don't think anyone who failed to buy at the bottom of the market (if indeed we're past it - I don't know either), should be too hard on themselves, since we're still around 2005 levels. I'm sure I could look up what the pound of 2005 is worth today, but at an educated guess would say, not very much.

qwert_yuiop

motorguy wrote: »

Really?

Wrong price wrong house wrong area wrong attitude

Loads of reasons I guess

Na - wrong price. Sorted.

qwert_yuiop

Well, it seems the pound of 2005 bought the same as £1.33 today. So the truth is, we're back at a point several years prior to then. 2000? There wasn't much profit in the buy and hold policy was there?

motorguy

qwert_yuiop wrote: »

Well, it seems the pound of 2005 bought the same as £1.33 today. So the truth is, we're back at a point several years prior to then. 2000? There wasn't much profit in the buy and hold policy was there?

No if bin 05 the time to get out was early 07.

I don't think anyone who bought in 05 as an investment and held on is doing anything other than getting their money back - well I guess they would have tenants paying their mortgage so would be getting a return from the selling price minus reduced mortgage

marathonic

I think the big question now is 'will we see double digit growth or double digit drops in the next few years'?

A lot of people predict low-mid single digit changes for years to come but I think the nature of the property market, especially in this country, means that double digit movements in either direction are inevitable.

For this year, I reckon we'll still see movement towards the upper end of my previous +3/4% for 2015 prediction.

motorguy

marathonic wrote: »

I think the big question now is 'will we see double digit growth or double digit drops in the next few years'?

A lot of people predict low-mid single digit changes for years to come but I think the nature of the property market, especially in this country, means that double digit movements in either direction are inevitable.

For this year, I reckon we'll still see movement towards the upper end of my previous +3/4% for 2015 prediction.

I guess its a possibility. Houses here are ridiculously cheap compared to the mainland. I was talking to a guy who lives in slough where semi detached houses are £500,000, yet the average wage isnt that much higher than here. Not exactly city living nor a nice place to live.

qwert_yuiop

motorguy wrote: »

I guess its a possibility. Houses here are ridiculously cheap compared to the mainland. I was talking to a guy who lives in slough where semi detached houses are £500,000, yet the average wage isnt that much higher than here. Not exactly city living nor a nice place to live.

Like anyone who lived here around 2005 to 2007, we know what a bubble looks like.

"I earn more from my house than my work."

motorguy

qwert_yuiop wrote: »

Like anyone who lived here around 2005 to 2007, we know what a bubble looks like.

"I earn more from my house than my work."

Wont affect me for a long time now anyway.

I'd say we'll stay in ours either indefinitely or at least 10 years.

marathonic

Well, the latest report is out and the -1% blip for Q1 has been revised to 0%.

There was a 3% rise in each of Q2 and Q3 giving a rise so far in 2015 of 6%. The overall annual rise, however, is noted as 7%.

Volume is down a bit on last year, but still over double what it was back in 2008.

motorguy

marathonic wrote: »

Well, the latest report is out and the -1% blip for Q1 has been revised to 0%.

There was a 3% rise in each of Q2 and Q3 giving a rise so far in 2015 of 6%. The overall annual rise, however, is noted as 7%.

Volume is down a bit on last year, but still over double what it was back in 2008.

There does seem to be a reasonable flow of house sales. Whilst i dont think anyone wants to see the unsustainable rises that we were seeing 2005-2007, small rises yearly would be good.