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

leftieM

The market has fallen by up to 20% from its peak so far (probably 10% is a fairer average though). IMHO 50% falls will only be seen if we have a bad recession. Despite the Northern Rock fiasco, the recession isn't imminent (although, in a capitalist system, it is inevitable).

Norman001

House prices have fell back already but I think or should I say hope that this is a temporary slump in the market. They will come back again.

kgrant

Thanks everyone for your comments. My partner and I agreed that we should contact the estate agent about that £165,000 property last weekend. Upon ringing them up and pretending to be 'fresh' on the property scene (i.e. because they did not take my name/details during the conversation); I asked what the house price was sitting at? How long has it been on the market/ Number of viewings/offers etc. Well.......when I asked all the questions I was answered with 'the market is quiet' a few times and 'the property is still at an excellent price' quotes. Once I received all that I knew already about the property (i.e. we were the first to few it back in September so we had done our homework) I cheekly asked would the vendor be willing to accept a 'lower offer'? Surprisingly the agent said they probably would due to the property being on the market for 3months+.

We do not know whether we shall try will a cheeky £130,000 offer (i.e. around affordable mark for us both at the minute) but as this may not even reach the vendor through the estate agent-if anyone has any further opinions on our situation or even on any advice for a possible 6month rental contract in the East Antrim area (by the way we are engaged and plan marriage for 2010) that would be appreciated?!

Thanks.

agal

kgrant wrote: »

We do not know whether we shall try will a cheeky £130,000 offer (i.e. around affordable mark for us both at the minute) but as this may not even reach the vendor through the estate agent

I believe that estate agents are legally obliged to pass on any and all offers to the vendor.

talksalot81

Norman001 wrote: »

House prices have fell back already but I think or should I say hope that this is a temporary slump in the market. They will come back again.

Why would you hope this?

Colin_Kee

Comment on Radio Ulster by Pooler EA's in Belfast. About 1/5 of the houses on their books have now droped in price. Rest are obviously holding on (Daft gits) to see if things rise again. Just looking through some property websites recently (right move etc.) and I could buy a 3 bedroom house in Newbury, Berkshire for £220,000. Same as over here really but over there If I were to rent it out I'd get £850/week, over here you'd get £500/£600. Doesn't take a genious to work out the best place to invest now (If you had the money)!!!

Sigur_2

The City is betting on UK house prices falling by 7 per cent next year in new tradeable derivatives contracts. This is probably a good a guide as any.

leftieM

Colin_Kee wrote: »

Comment on Radio Ulster by Pooler EA's in Belfast. About 1/5 of the houses on their books have now droped in price.

Was there anything else interesting said about the housing market? Was he giving the ole 'there's never been a better time to buy property' line or was he saying that we're all ****ed (in sweeter language of course!)

If the estate agents who say that there's never been a better time to buy property (messrs Cairns and Templeton to name two) were putting their money where their mouths are I might believe it. I suspect they are in selling rather than buying mode at present.

talksalot81

leftieM wrote: »

Was there anything else interesting said about the housing market? Was he giving the ole 'there's never been a better time to buy property' line or was he saying that we're all ****ed (in sweeter language of course!)

If the estate agents who say that there's never been a better time to buy property (messrs Cairns and Templeton to name two) were putting their money where their mouths are I might believe it. I suspect they are in selling rather than buying mode at present.

One or other of Pooler and Watson has turned quite bearish (though I cannot recall who it is), the other is just doing a cairns.

leftieM

I'd say they are all bearish, they just aren't saying so in public!