Northern Ireland House Prices

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Russ
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Re: Northern Ireland House Prices

Post by Russ »

Rocket wrote:
pythagoras wrote:Well I think it's a scummy way to make money.
You're relying on scarcity (real or engineered) or inflation to make a return.
Both come at the expense of others, newbies or savers.
it's making a living the same way a leech does.
Buying and flipping properties is very high risk and if that is the case I would avoid the market. But that is not the case at the moment in Northern Ireland.

However for example i would avoid London all together things over there are madness. Rents won't cover even half the mortgage. 4-5 people in there 40s living in shared accommodation. I worked with someone who lived with 3 other and they were each paying £800 a month plus bills at clap ham junction. Think what you can buy in Northern Ireland for that even if you took a pay cut you would have a better standard of living.

As for cat baggers. What is the alternative? Saving for an annuity which would take a pot £400k to get £20k a year, I would never be able to save that on my salary, or living of the state pension when I retire. What is worse.

The problems with the crash was misinformed uneducated bank managers lending to every would be property developer without a sound financial plan or clue about building. I blame the bank managers not the stockbrokers.
It was a mixture

Bank managers started it. Stock brokers bet it against each other and some fat american lost his nerve

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ColinM
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Re: Northern Ireland House Prices

Post by ColinM »

Jackie Brown wrote:Houses generally selling for 10% below asking price.

Sounds obvious but depends on the asking price.

Things that have been on the market 1yr+ are sitting around because the asking price is too high. Things priced correctly, in strong demand areas such as the QUB areas Russ refers to are, I'm told selling above asking price, with several bidders.


Which gets me onto something for the 'what annoys me' thread, is the practice of estate agents in this godforsaken place sitting on offers and essentially conducting blind auctions. People of the UAFC, join me in placing limited time offers. I'll tell then they've 24/48hrs to accept or decline, after which the offer is withdrawn. One sleazy abominable good for nothing agent once did his client out of £5k of my money when he tried to screw me only to find I'd reduced an offer after the time period and he had to get on his measly knees, lowlife.
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Shan
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Re: Northern Ireland House Prices

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pythagoras wrote:Well I think it's a scummy way to make money.
You're relying on scarcity (real or engineered) or inflation to make a return.
Both come at the expense of others, newbies or savers.
it's making a living the same way a leech does.
Py, The issue isn't with what Russ and some others are describing which is a legitimate way to invest in property. The issue in a general sense is that we are sold the notion we have an open free market in which to play when actually the complete opposite is the case. Govt interference, on the back of influence from powerful vested interests, is what drives the socialist outreach programme for the wealthy and most powerful to maintain their stranghold on the property and other markets. The ordinary person might, if they are lucky while playing by the rules, manage to secure a little return on investment which is altogether reasonable but they are not in any way creating the situation whereby folk are struggling to even dip their toes in the water. Thing is there is also going to be a need for rental property so the small owner is playing a valuable role in providing this necessary service.

As in the economy in general we either need true and unhindered free market capitalism or we need true and complete socialism. This wishy-washy capitalism for the poor, socialism for the rich is just a complete an utter stitch up. Still we've been getting up the 'arris for long enough. I think we even encourage it, though not without being conditioned to do so.

http://www.youtube.com/watch?v=e7H-63vMo9A
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Shan
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Re: Northern Ireland House Prices

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ColinM wrote:
Which gets me onto something for the 'what annoys me' thread, is the practice of estate agents in this godforsaken place sitting on offers and essentially conducting blind auctions. People of the UAFC, join me in placing limited time offers. I'll tell then they've 24/48hrs to accept or decline, after which the offer is withdrawn. One sleazy abominable good for nothing agent once did his client out of £5k of my money when he tried to screw me only to find I'd reduced an offer after the time period and he had to get on his measly knees, lowlife.
I hear that Colin. Estate agents down here were in cahoots with the banks. They had an arrangement whereby the banks would let them know how much the person could get in a mortgage and the estate agents would play the person while telling the person they were in competition with others for the property. Everyone's a winner except the poor fecker who pays well over the odds for their property. I know I paid over the odds but like everyone trying to buy in 2005/2006 was in a situation where all we saw was the prices continuing to rise, as they did up to about 18 months after I bought. But I know people living down the road from me who purchased in 2007 houses for €300k plus and now those houses are going for €150k.

A friend of mine bought an average 2 bed townhouse in the city for €156k in 2006 which he is renting but has bought his own lovely 4 bed house 5kms from the city centre in late 2012 for €150k. It is f-cking insane.

The only satisfaction I can manage to get is that I know there's a ton of halfwitted clowns who were working in estate agents who will probably never work again as they has no discernable talent at all. It's pretty easy to sell a thirsty man water and that is all they were good for. Most of the ones I came across were so far up their own árses I'd delight in any misery which comes their way, and I don't say that lightly as ordinarily I'd be right behind anybody struggling. I'd feel the same way about any of the others involved in this unholy scam over the years. Shower of me-feiner ballixes.
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Russ
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Re: Northern Ireland House Prices

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The problem I see in Ireland across the island is the lack of affordable city centre housing.

The troubles in NI and the push to build massive out of town estates in the South have killed cities.

Add DCC to the mix and bob is your uncle. Dublins docklands could be a thriving young community who all work and socialise in that area. Unfortunately what was built was brad pitt and inadequate

Same with Belfast. Titanic Quarter has real potential but is being held up by eejits

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Shan
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Re: Northern Ireland House Prices

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Russ wrote:The problem I see in Ireland across the island is the lack of affordable city centre housing.

The troubles in NI and the push to build massive out of town estates in the South have killed cities.

Add DCC to the mix and bob is your uncle. Dublins docklands could be a thriving young community who all work and socialise in that area. Unfortunately what was built was brad pitt and inadequate

Same with Belfast. Titanic Quarter has real potential but is being held up by eejits

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It's a fair point Russ. The suburbs are sprawling here and they even went and built up what were small villages further out while the city is in decline.

I was down in Cork over the weekend around by the area where I spent much of my time as a youngster. Back then there was a few thousand living in the little town approx 13kms from Cork City but now there is over 25k. Mind you I'm not sure there's much more room in the city to house people and unlike Limerick City, Cork City is alive and kicking very well.
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ColinM
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Re: Northern Ireland House Prices

Post by ColinM »

Titanic Quarter and Scirocco works sites have enough space to house 3 times the number of people who would want to live there.

Belfast is too small to need millions of flats, and there's plenty of places a half hour away to get more for your money.
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Re: Northern Ireland House Prices

Post by mikerob »

Liveable city centres are important from an economy point of few. There are benefits from clustering different types of jobs close together so they feed off each other and spin off new employment and attract further people to the area. Places like Bristol and Manchester are vibrant while some other city centres are just dying.
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Northern Ireland House Prices

Post by Rocket »

The other thing that drives me crazy is the banks would now right of part of the loans for the property developer gamblers and the developer would only pay part of the debt. Meanwhile poor joe on the street is stuck with negative equity.

Secondly shares in property companies where certain individuals setup companies to get savers to invest money in a new company to buy property. Whilst a loss is a loss you can't do anything about it. Unsuspecting people got took to the cleaners as the company would then use the money to invest in other companies which took it outside their control. This is legal apparently. This was all assisted by estate agents, banks and accountants.
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Russ
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Re: Northern Ireland House Prices

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What about the politicians rocket! May as well tar them too. I did a bit of searching yesterday regarding house prices in and around QUB. Massive discrepancies in valuations

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Rocket
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Re: Northern Ireland House Prices

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Russ wrote:What about the politicians rocket! May as well tar them too. I did a bit of searching yesterday regarding house prices in and around QUB. Massive discrepancies in valuations

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Probably worth taring you as well just to be sure.
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ColinM
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Re: Northern Ireland House Prices

Post by ColinM »

mikerob wrote:Liveable city centres are important from an economy point of few. There are benefits from clustering different types of jobs close together so they feed off each other and spin off new employment and attract further people to the area. Places like Bristol and Manchester are vibrant while some other city centres are just dying.

Hmm, build and they will come? You couldn't shift an apartment in Manchester city centre 10 years ago, ie pre crash. New developments just flooded the market, and a lot were bought up by Irish investors scared out of Dublin by the soaring prices there, but now the demand has caught up it is vibrant indeed.

It doesn't change my view that Belfast is too small for places like the TQ and Scirroco areas to be flooded with flats. There should be a good mixture of affordable housing, quality (spacious) apartments and a wee bit of high end housing. 10 storeys of flats in the Odyssey car park doesn't really float my boat tbh.
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Russ
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Re: Northern Ireland House Prices

Post by Russ »

ColinM wrote:
mikerob wrote:Liveable city centres are important from an economy point of few. There are benefits from clustering different types of jobs close together so they feed off each other and spin off new employment and attract further people to the area. Places like Bristol and Manchester are vibrant while some other city centres are just dying.

Hmm, build and they will come? You couldn't shift an apartment in Manchester city centre 10 years ago, ie pre crash. New developments just flooded the market, and a lot were bought up by Irish investors scared out of Dublin by the soaring prices there, but now the demand has caught up it is vibrant indeed.

It doesn't change my view that Belfast is too small for places like the TQ and Scirroco areas to be flooded with flats. There should be a good mixture of affordable housing, quality (spacious) apartments and a wee bit of high end housing. 10 storeys of flats in the Odyssey car park doesn't really float my boat tbh.
For me neither.

But! New city streets would be fantastic with affordable 2 3 4 bed flats and small houses

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pythagoras
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Re: Northern Ireland House Prices

Post by pythagoras »

Shan wrote:
pythagoras wrote:Well I think it's a scummy way to make money.
You're relying on scarcity (real or engineered) or inflation to make a return.
Both come at the expense of others, newbies or savers.
it's making a living the same way a leech does.
Py, The issue isn't with what Russ and some others are describing which is a legitimate way to invest in property. The issue in a general sense is that we are sold the notion we have an open free market in which to play when actually the complete opposite is the case. Govt interference, on the back of influence from powerful vested interests, is what drives the socialist outreach programme for the wealthy and most powerful to maintain their stranghold on the property and other markets. The ordinary person might, if they are lucky while playing by the rules, manage to secure a little return on investment which is altogether reasonable but they are not in any way creating the situation whereby folk are struggling to even dip their toes in the water. Thing is there is also going to be a need for rental property so the small owner is playing a valuable role in providing this necessary service.

As in the economy in general we either need true and unhindered free market capitalism or we need true and complete socialism. This wishy-washy capitalism for the poor, socialism for the rich is just a complete an utter stitch up. Still we've been getting up the 'arris for long enough. I think we even encourage it, though not without being conditioned to do so.

http://www.youtube.com/watch?v=e7H-63vMo9A
Yeah you're right I think. Likely it will probably never change, money talks.
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UlsterNo9
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Re: Northern Ireland House Prices

Post by UlsterNo9 »

http://www.belfasttelegraph.co.uk/news/ ... 33784.html

Amazing how misleading a carefully worded article using statistics can actually be
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