Britain is a big place you know

dprovan

Hi all,

please excuse my petulance (I am about to ask advice on another thread, so who am I to comment). However I read post after post about people being mad, stupid, bonkers offering anything remotely close in todays market.... Can I suggest that this may be the case in your area, some areas, even most areas but it is not the case everywehere.

I live in N Ireland and have been looking for 3 years now,house prices are not only healthy here but continue to sore comfortably at 8-10% per year and are still rising, to offer below asking price here just now. I looked at a house on market offers over 285k it was on market a week and was already sitting at 291k and wasn't out of the ordinary or particularly unique. I also bid on a house 9 weeks ago offers over 215k which eventually went for 250k......so please remember whilst it may be mad where you live it is not the case everywhere.

meanmachine_2

"sore" being the operative word for today's house prices.

And you're right - some northern areas have experienced increases of late. That's just lag in the market.

Where London goes, the rest of the UK follows - and London has seen a y-o-y fall of 2.5%, so expect the same in NI in another six months' time.

And don't say you weren't warned when it happens.

EDIT: In fact it's NI that has been holding up the national figures overall. Take NI out of the stats and already we'd be very close to national negative indices.

ReportInvestor

A good edit, MM on top of accurate observations from dprovan.

Mortgage Introducer link

Northern Ireland housing market goes from strength to strength

Fifer

It's not just NI. Many areas of Scotland are still very active too. We just offered 11% over asking price on a property which sold after two weeks on the Market and we were outbid (we won't know what it achieved until the price appears on nethouseprices but our solicitor was told that we weren't close). Generally, property appears to be going for 10-15% over upset price around here.

EDIT: The comment about where London goes, the rest of the UK follows just isn't true IMHO. We've seen neither the explosive growth nor the negative equity experienced by the London market over the past few decades up here. The economic drivers are completely different.

frugal_dougal_3

dprovan wrote:

.... Can I suggest that this may be the case in your area, some areas, even most areas but it is not the case everywehere.

I couldn't agree more. In fact............

1. There are future hotspots warming up all over the UK.
2. In the price crash in the early 90's there were some areas that were not affected at all.
3. London is not the be all and end all of everything.

bridiej

I wish the government realised the UK is a big place and would start investing in other areas instead of turning Kent into one large housing estate!