The UAFC

Anyone bought or sold recently, whats the general consensus?

Trying to get a feel for the market as I'm looking to buy.

How much are houses selling for below asking.... etc?

I was looking to get a consortium together to do up some old student houses in Stranmillis and Lisburn Road.

Called up an estate agent friend of mine about 2 months back who told me that the time for that was not right yet.

So for buying in South Belfast the market may not be ready yet.

Then again he is only new to the scene and may not have wanted me to take the risk when the market is actually ready

Sent from my GT-I9505 using Tapatalk

I am looking to buy a couple of houses to let at the moment I think the time is right. In certains areas rental incomes will cover the mortgages and rates. I tend to value houses on the rental income not estate agents opinion.

The key is getting the deposit, or if you are a cash buyer you can get a really good deal. When renting try not to use letting agents, they eat up your profits, and the tenants they get could move out just as easy before the end of the contract as any other at least if they move out when you rent it you aren't out the fee and have the deposit to cover an extra month until you get another tenant.

I bought two houses about 5 years ago, the price after that dropped but, just last week the one next door went for almost the price I bought at back then, in the mean time the tenants have been paying the mortgage, so I think things are moving up.

You have to look at these things long term and don't always follow the sheep.

That's my issue with renting at the moment. I am paying someone else's mortgage. Rent in the student areas of Belfast is almost guaranteed so it is a no brainer

Sent from my GT-I9505 using Tapatalk

http://lpsni.gov.uk/vListNDN/search.asp?submit=form

Used this website a few times. My predicament is that I have a decent wedge for a mega property deposit wise or I could split it and buy two maybe even three properties rent two live in one.

I'm basically just uncertain how to gauge advertised prices against what houses are actually selling for.

Houses generally selling for 10% below asking price.

Carpetbaggers the lot of ye!!!!

Plenty of new builds in the repooblic

Sent from my GT-I9505 using Tapatalk

pythagoras wrote:Carpetbaggers the lot of ye!!!!

They're known as entrepreneurs these days py

Snipe Watson wrote:

pythagoras wrote:Carpetbaggers the lot of ye!!!!

They're known as entrepreneurs these days py

Sell a property before you pay for it for twice the price and you're a man of substance.
Do the same with a match ticket and you're scuum.
It's because it's only a crummy ticket, it's a matter of degree.

pythagoras wrote:

Snipe Watson wrote:

pythagoras wrote:Carpetbaggers the lot of ye!!!!

They're known as entrepreneurs these days py

Sell a property before you pay for it for twice the price and you're a man of substance.
Do the same with a match ticket and you're scuum.
It's because it's only a crummy ticket, it's a matter of degree.

Not what I am advocating at all

Buy a house, pay it off through legitimate means of renting it out, sell it when the time is right as a nice pension pot

No plans to be a mogul, flip it, nor what not.

Provide legitimate social housing for the students of QUB - no Jtown scuumers, no rioters either - means no-one who likes St Padraig

If the prices continue to reason, that is simply the market, and would indicate a future crash again

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.

Thats just the state of the economy these days though py, not everyone can win no matter what happens - the majority of ways people make money or desire to increase income comes at the expense of others in some ways, monetary or otherwise.

As far as housing and property goes in all for it and would 100% agree with Russ on the whole students idea, someone has to supply the housing after all

I get the impression things are looking up a bit. I needed to sell a property in a rural area and there weren't even any viewers for the best part of a year, then some ridiculously low offers, then quite a few viewers after Christmas and a sensible offer.

I don't know much about the market in NI but I'm guessing the greater Belfast area is quite different from the country.

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.