Property prices in NI

chunter

It's not the lower end of the market that will see the first drops, and I do mean drops.
There will always be a market for the sub 200K properties
It's the middle range, the 200-300k that can't be let for enough to cover the mortgage, and are fast becoming too costly to keep up the payments.
These start to flood the market. People can't get rid of them so prices start to wobble and drop. They drop into the 200k area and the buyers in the lower end then has the choice. The outcome being the lower end of the market then gets lower.

The thresholds my not be right, but the times they are a changin'.

exasperated_2

I just want my house to sell!!

Buick_Lewish

Parisien wrote: »

A good house, in the right location will always command a good price, less prone to market vargaries, investors/speculators will eventually get their fingers burnt unless very smart...always been the way of the world, nought has changed, as for reading the tea-leaves posts, laughable!!!

Even though I love to see investors get their houses burnt..ergh...I mean fingers burnt, Im afraid that society as a whole will pay a price for it.

Take Holylands for example, it starts to look like a ghost town and no family wants to live their anymore as their is no 'social infrastructure' in place. :eek:

talksalot81

Buick_Lewish wrote: »

Even though I love to see investors get their houses burnt..ergh...I mean fingers burnt, Im afraid that society as a whole will pay a price for it.

Take Holylands for example, it starts to look like a ghost town and no family wants to live their anymore as their is no 'social infrastructure' in place. :eek:

And what happens to these well located investor houses if tuition fees continue to rise? If we get a government which wishes to push universities for quality and not quantity? I suspect the holylands would go from a guaranteed income investment to being a very shaky one!

On a different note, did you guys see the quotes in the press comparing Belfast to London? The figures reported that the average Belfast price was in excess of £300k whereas the average London price is a mere £292k - aka Belfast is more expensive than London.

I must admit, like the rest of you will surely agree, I am just fed up seeing those executive types in the local bars tossing around their £200k salaries and likewise I am sick of those damned Russian billionaires who are buying over our local football clubs....

Colin_Kee

Yeah and I just hate that "Belfast" weighting that is added to people's salaries just because they work in Belfast!! !#!*!#?*?#?*

People have to wise up!! £300K average house price in Belfast. Honestly, who can afford that??.. People can only climb the property ladder if they have a property to sell. In this relativly small captive market, eventually everyone who wants to move will have moved and then what happens. the boom is over.. prepare for the reprocussions!!

[Deleted User]

I cant wait until the boom is over so that wants its all crashed and the over mortgaged idiots that fell in love with the beige walls and/or wanted to be city centre battery hens laying golden eggs for the developers become bankrupt and house prices half, i can then take the bus on the next wave and become a millionaire too. Thank god for beige walls.

Parisien

Purveyors of doom and gloom...sad really.

motorguy

Colin_Kee wrote: »

Yeah and I just hate that "Belfast" weighting that is added to people's salaries just because they work in Belfast!! !#!*!#?*?#?*

I think employers have to pay extra to get ppl to work in belfast. i worked there for 7 years, travelling from lurgan. over an hour each way commute, plus expensive parking, motorway traffic jams...

... i work in armagh now and i go across the backroads - 25 mins each way, no rush hour traffic, and my biggest problem is the odd bunny on the road!

It would take an extra £5K min to get me to even think about travelling to belfast again.

Buick_Lewish

Other countries are more familiair with work-travel expenses. In Northern Ireland they dont. However, it is a question of supply & demand. There are more people than jobs so they get away it.

And even though I agree that they should pay (part) of your travel expenses I have to be honest, one hour each way is not the end of the world...

motorguy

Buick_Lewish wrote: »

Other countries are more familiair with work-travel expenses. In Northern Ireland they dont. However, it is a question of supply & demand. There are more people than jobs so they get away it.

And even though I agree that they should pay (part) of your travel expenses I have to be honest, one hour each way is not the end of the world...

I was merely pointing out to the previous poster that whilst salaries may be higher in belfast they are so partly to make it worth peoples while to travel, thus i don't begrudge those who work in belfast their extra money.