Is it too late to sell a house in Northern Ireland???

thriftyminx13

I think it depends on what kind of price range people are looking at. I know three people have completed on properties less than 110k and 2 above 130k, one at 150k. Mt friend didn't go for Soudan, thanks for the advice she got a place in Ravenhill off an investor. I think she got it for a very good price.

Was there not something about prices stabilising slightly? Oh here found it

http://news.bbc.co.uk/1/hi/business/7977683.stm

nothing is really moving around mine although the rentals that were empty have been filled.

warmhands.coldheart

After all the big hype of House Prices in Northern Ireland rising at the fastest rate in the UK back 2 years or so ago. Interesting to see they have now fallen the most.... Private Salers still need to get a grip and drop their house prices as the Developers have done. You can now buy new houses cheaper than older houses in our area as Developers have dropped prices so much to get things shifted. ( Private Sellers are still living in CooCoo land )

Milko

warmhands.coldheart wrote: »

Private Salers still need to get a grip and drop their house prices as the Developers have done. You can now buy new houses cheaper than older houses in our area as Developers have dropped prices so much to get things shifted. ( Private Sellers are still living in CooCoo land )

Every 3rd house for a developer should be profit ... therefore money to play with / discount their properties with. Afterall it is their business.

Home owners will rely on their equity that they have accumulated often over many many years for future pensions / retirement etc... Therefore they don't need to drop prices as much as developers (who maybe now have the bank knocking at their door :eek:)

warmhands.coldheart wrote: »

You can now buy new houses cheaper than older houses in our area

That has always been the case (in any new development I've ever seen / been a party to)

People buy new builds, decorate, install kitchens, bathrooms, tile them, floor them & then usually end up selling them on for more than houses in the next phase of the development ... or is this just a Northdown thing ?

warmhands.coldheart

Milko. don't agree with you on this...
There are new Turnkey Finish semi's (Kitchen, Bathroom etc. etc. etc... all in) for sale in our area for £110,000 from Developers. Similar sized 10 Year old houses are up for sale privately on neighbouring developments for £140,000. Now your arguement that homeowners don't need to drop prices as much as developers doesn't make sence from a buyers prospective. Why would I buy a house for £140,000 when I can buy one for £110,000 No Brainer Really! My point is that if Private individuals really want to get their house sold then they will have to drop the price to that similar to what the Developers are selling for or they just won't sell. There are houses around us that have had For Sale signs up outside them for well over 1 year now. Now in my opinion that would indicate that it ain't worth it. and it only takes a quick scan through the Estate Agents website to see just how much more expensive these private sale houses are.

I wouldn't agree either with your view that New Houses have always been cheaper than old houses... Definatly think that must be a North Down thing!! Besides I'll bet at least 80% of people who do buy an older house will have it completely re-decorated within 2 years anyway.

saverbuyer

Thought I would resurrect this thread.

It really make interesting reading. How did the OP get on selling the house? How have people's attitudes changed to property buying? Lots of people said "no chance of 50% falls", or "you'll never see a 180K semi in a good area".

How do we feel now, is anyone still looking at buying and how do the people who bought/built/BTL in the last 10 years fee?

x12yhp

saverbuyer wrote: »

Thought I would resurect this thread.

It really make interesting reading. How did the OP get on selling the house? How have people's attitudes changed to property buying? Lots of people said "no chance of 50% falls", or "you'll never see a 180K semi in a good area".

How do we fell now, is anyone still loooking at buying and how do the people who bought/built/BTL in the last 10 years fee?

Dig another bit back in time and you will find that most people laughed at you when you said that a correction was coming. If you mentioned the term 'crash', many people would have hounded you for it!!

wanchai_2

Interesting thread - just had a read through.

Well, the falls have not stopped! We are still saving and holding off, as are all the FTBs we know.

BigAl94

Further 40% fall before it bottoms out imho.

gawa75

ballyblack wrote: »

.......they are waiting for the house market to tumble which I can't see happening especially on houses in your price bracket

Rent it out for six months to weather this 'storm'

PS. Don't panic Mr Mannering

A post from mid 2007. If he only knew...

steveymp

wanchai wrote: »

Interesting thread - just had a read through.

Well, the falls have not stopped! We are still saving and holding off, as are all the FTBs we know.

We sold in April this year and have been homeless since sold for £23,000 over rateable at the time and £9,500 under the asking price which I thought at the time was very generous of me:rotfl:

It doesn't seem so generous now as 3 bed semis in the same area we sold are now up for £20,000 less than we got and not shifting :eek: having said that our sold house was ready to move into and freshly decorated and carpeted throughout and in very good repair.

I have been searching for a new home everyday and the vendors and EA's to some extent are living in a dream world still with pricing:eek: One particular house I made an offer on in May this year turned me down flat and felt insulted at such an offer, they phoned me last week to say they would now accept that offer :rotfl:Needless to say I told them in no certain terms that my offer was no longer on the table and I would reassess the house and make a new much smaller offer when I get time they hung up on me:rotfl: my wife had changed her mind about the house anyway and no longer wanted to do all the work that would of needed doing, but I thought I would have a laugh at the vendor and EA.

January, February and March will see an influx of Repo's once again as banks try to balance their books for April, so prices still have a long way to fall IMHO