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Thread: NI house sales go up, prices drop slightly in last quarter of 2012

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    Politics.ie Member RahenyFG's Avatar
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    Default NI house sales go up, prices drop slightly in last quarter of 2012

    A University of Ulster study shows an increase in the number of house sales and greater stability in property prices. Does the stability in house prices mean a potential return to growth in the NI economy?

    Interesting stats in the report are
    -South Belfast remained the highest priced area in NI with properties averaging at £185,137.
    -Derry/Strabane was the least expensive area in the province with an average house price of £86,986.
    -NI house prices dropped 1.4% in a year
    -The average NI house price is £135,000

    Further reading hereHouse sales up, prices slightly drop - UTV Live News
    I have closed down this account, I am now The Rahenyite.

  2. #2
    Castle Ray
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    Seems like prices have bottomed out and are stable in areas in the east. The correction in prices took some time but at least the market values are now known.

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    Politics.ie Member RahenyFG's Avatar
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    Quote Originally Posted by Castle Ray View Post
    Seems like prices have bottomed out and are stable in areas in the east. The correction in prices took some time but at least the market values are now known.
    At least the North's house prices didn't go as crazy as they did in the South.
    I have closed down this account, I am now The Rahenyite.

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    Castle Ray
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    Quote Originally Posted by RahenyFG View Post
    At least the North's house prices didn't go as crazy as they did in the South.
    They didn't go as crazy but they were still inflated. The amount of people with "property portfolios" was frightening and was one of the reasons that I was scared off from getting involved in speculation. I did buy a property in 2005 for my business but it has lost 25%+ so there has been a lot of personal pain; just not as much as others. As a home owner I bought in 2005 also but my estimated house value is currently about the same as it was when I bought it; no negative equity but no growth as was expected.

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    Quote Originally Posted by RahenyFG View Post
    At least the North's house prices didn't go as crazy as they did in the South.
    It was worse than the South.
    How SF/DUP escaped the wrath that FF faced is simply sectarian tribal voting.
    If it was a stand alone country, rather than coming under the "UK' bracket in surveys, it would've recorded the biggest property collapse in the World.
    Northern Ireland
    Also, I believe Lurgan /Craigavon area have the lowest house price average in the North.

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    NAMA have 4 billion in property stock in the North.
    That will send house prices lower still, when they finally hit the market.
    We're not at the bottom yet.

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    Politics.ie Member Mackers's Avatar
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    This is a pile of crap. Let me explain.

    Every week in the for sale section of local newspapers there are adverts put in by Estate Agents selling houses for Financial Institutions that are way below so called normal prices. Example house in North Belfast with an offer being accepted for £30,000 in such a section. Whilst in the same paper in the full property section a house in the same street is being offered for sale for £85,000, in some cases by the same estate agent. Talk about flogging a dead swallow. I have been listening to the same eejits coming on the TV for the last 3 years spouting this sh1te about prices rising. It is bunk. The truth is these fire sales are only beginning.
    War doesn't work. Give peace a chance.

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    Quote Originally Posted by Mackers View Post
    This is a pile of crap. Let me explain.

    Every week in the for sale section of local newspapers there are adverts put in by Estate Agents selling houses for Financial Institutions that are way below so called normal prices. Example house in North Belfast with an offer being accepted for £30,000 in such a section. Whilst in the same paper in the full property section a house in the same street is being offered for sale for £85,000, in some cases by the same estate agent. Talk about flogging a dead swallow. I have been listening to the same eejits coming on the TV for the last 3 years spouting this sh1te about prices rising. It is bunk. The truth is these fire sales are only beginning.
    A mirror image of whats happening in the South.
    I sold a house in 2000 for 54 k. Just saw a house in the exact same street for sale going for........54k. Today.
    With less mortgages available, and very few real, longterm jobs, prices will fall more as supply outstrips demand.
    What price a typical 3 bed terrace, when based on this 5 bed for example?
    12 Jubilee Avenue, Antrim Road, Belfast - PropertyPal.com

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    Politics.ie Member Mackers's Avatar
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    Quote Originally Posted by Truth.ie View Post
    A mirror image of whats happening in the South.
    I sold a house in 2000 for 54 k. Just saw a house in the exact same street for sale going for........54k. Today.
    Will less mortgages available, and very few real, longterm jobs, prices will fall more as supply outstrips demand.
    What price a typical 3 bed terrace, when based on this 5 bed for example?
    12 Jubilee Avenue, Antrim Road, Belfast - PropertyPal.com
    You are 100% right. These Estate Agents would sell their mothers for a quick buck. They extrapalate a house in Cultra going for sale by some black art calculation into the average for a house in the rest of Belfast. Thus prices are on the rise. Complete bollix. By the way the house in Jubilee Avenue would have been going for about £150,000 or more at the height of the madness.
    War doesn't work. Give peace a chance.

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    Quote Originally Posted by Mackers View Post
    You are 100% right. These Estate Agents would sell their mothers for a quick buck. They extrapalate a house in Cultra going for sale by some black art calculation into the average for a house in the rest of Belfast. Thus prices are on the rise. Complete bollix. By the way the house in Jubilee Avenue would have been going for about £150,000 or more at the height of the madness.
    You reminded me of the Belfast Estate agent who hired models to queue outside his business for a photo op to try and provoke a buying rush.
    Scroll down for photos.
    http://www.thepropertypin.com/viewto...=22552&start=0
    And this was in 2009.
    Hilarious.

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