Author Topic: Property Prices in Belfast  (Read 28590 times)

aussietrekker

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Re: Property Prices in Belfast
« Reply #30 on: May 20, 2007, 07:44:20 AM »
Well I am a regular stickybeak at propertynews.com , and there's a high proportion of giant houses on the market at  only 2-5 years old. All in brand new condition, and not lived in long enough for the dust to settle. All with sumptuous new furniture and other trappings,conservatories, and new cars in the driveway. People make mistakes and get out of their depth, but these properties in any district are in epidemic proportions. Can't all be mistakes, there must be an epidemic of greed going about. You can only live in La-la land for so long before reality sets in, then the bank or the divorce court puts an end to it all. Even lots of folk I know who came into some dollars by legacy or whatever, instead of quitting while they were ahead,spent what they had and got into more debt as well. Instead of accepting the chance of a smooth ride home in middle age, are complaining that they'll both have to work till retirement. Or end up renting because their greed made them bankrupt when things went sour.
I can't believe there are so many new houses for sale in Norn Iron. Banks must have been giving out housing loans to kids like balloons.
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giannineo

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Re: Property Prices in Belfast
« Reply #31 on: May 21, 2007, 12:49:00 AM »
OZ, prices here in Perthshire have not gone completely mad but are going higher. My son was offered a 40 year mortgage with six times his salary being what he could borrow.
   230k would buy you a new 4 bed detached house/garage with good spec. and a good area.

aussietrekker

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Re: Property Prices in Belfast
« Reply #32 on: May 21, 2007, 03:07:30 AM »
I can only imagine with horror a 40-year mortgage.
Ours was bad enough at 25.
No wonder so many Brits are flittin' to Australia. Houses are half the price, and better value. Nearly all our houses are detached, what you call bungalows. Two-storey houses are becoming more frequent, but at a huge price. And it's mostly the "wannabes" that build them.
My brother built a new house 2-3 years ago at the foot of the hills. It sprawls over 3 or 4 regular house blocks, and is on 5 acres  of bush at the edge of a mega gated housing estate. He's in the rare situation of not needing a mortgage, and can genuinely afford this place. They started off with a very modest house, his wife gave up work when they had the kids. Went about things in the right order, and they're still together. He worked his way from salesman up to managing director, he deserves it all and we're proud of him. But when we go to visit, it's scary to see the ridiculous amount of debt taken out all around him. Street after street of potential misery and stress. The folk next door spent $40,000 to have a row of palm trees established alongside their swimming pool.
I guarantee, next time we go there, the inevitable cycle of FOR SALE signs will have begun.
"Never confuse religion with spirituality."
-Father Bob Maguire, South Melbourne. 2011.

subby

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Re: Property Prices in Belfast
« Reply #33 on: May 21, 2007, 02:04:06 PM »
http://www.housepricecrash.co.uk/forum/index.php?showtopic=37941

that website is devoted to house price crashes...I love it and lurk on there all day

that link I've posted above is the Northern Ireland property market thread...73 pages long at last count!!!  :o

Christopher

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Re: Property Prices in Belfast
« Reply #34 on: November 01, 2007, 03:10:57 PM »
A two bedroom, one reception, property in the quiet Grace Avenue, Bloomfield BT5 area of Belfast was on the market for 189,950 (281,185 ... US$ 385,768). Click here to have a look.

BLOOMFIELD

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Re: Property Prices in Belfast
« Reply #35 on: November 03, 2007, 03:40:44 AM »
That house is in the next street to where I lived, but our house was a 3

bedroom, semi - detached, with small garden back and front.

My Father bought it for 900 Pounds, about 1951
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sj

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Re: Property Prices in Belfast
« Reply #36 on: November 03, 2007, 05:48:00 AM »
Along with buying the house in Australia the cost includes the land so property prices are not as bad here as in the U.K. O0

HOWEVER THE GOVERNMENT COULD BRING DOWN HOUSE PRICES IF THEY MADE MORE LAND AVAILABLE FOR BUILDING.  :-[    They choose not to release more land so the pressure on existing house stocks increases and prices go up. >:(  Who is making the profit... :-[  Certainly not the ordinary person. >:(  Am I cynical or are we being manipulated by outside forces ???
I'm patient with stupidity but not with those who are proud of it ...

BLOOMFIELD

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Re: Property Prices in Belfast
« Reply #37 on: November 03, 2007, 07:02:48 AM »
In Canada we buy the land, plus house.

We are all manipulated by, Governments, Big Business, and Big Banks,

and very few of us make it out of the rut.

Just look at the average wage, of the average " Working Man ", compared

to Politicians, Senior Management in Big Business (who seem to get

performance BONUSES, even when the Business is going down the toilet,

and have EXPENSE ACCOUNTS ),  :o

Doctors and Dentists.
Soldier F Supporter, equal Justice for all.

When will the I.R.A. pay Compensation to their Innocent Victims or Relatives.

abbey

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Re: Property Prices in Belfast
« Reply #38 on: November 03, 2007, 08:01:07 AM »
A two bedroom, one reception, property in the quiet Grace Avenue, Bloomfield BT5 area of Belfast was on the market for 189,950 (281,185 ... US$ 385,768). Click here to have a look.

Does NIR have capital gains tax or can you buy and sell as many properties as you like?

Christopher

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Re: Property Prices in Belfast
« Reply #39 on: November 03, 2007, 11:25:18 AM »
Some people have quite a collection of properties ... their Belfast house, their Donegal hideaway and their Spanish holiday home. The Assets Recovery Agency have cottoned on to the idea of having a few properties and have recently collected a few cars as well as other financial assets including properties. There are one or two Belfast citizens who now have fewer properties as a result of the ARA's actions. It seems to be a bit like
a game of Monopoly with real cars, houses and money. I'm not too sure about the "Get out of Jail Free" cards though.

bobby b

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Re: Property Prices in Belfast
« Reply #40 on: November 03, 2007, 12:22:17 PM »
I once sold a house in Belfast for 60.000 ,the council went berserk. >:( ;D
Should you go first and I remain,one thing Ill have you do . Walk slowly down that lonesome path ,for soon Ill follow you.

BigAgiesMan

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Re: Property Prices in Belfast
« Reply #41 on: November 03, 2007, 12:33:45 PM »
Does NIR have capital gains tax or can you buy and sell as many properties as you like?

Yes, there is Capital Gains Tax, but not on your principal residence, i.e. the house that you live in.

sj

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Re: Property Prices in Belfast
« Reply #42 on: November 03, 2007, 10:15:40 PM »
I feel a bit left out....I don't own any property outside Australia

You can't own any domestic property in Australia unless you are a permanent resident( you have to prove that) or an Australian citizen.

What surprised me on my visit in July was the number of apartments being built or already built. .makes sense if property prices are so high.
I'm patient with stupidity but not with those who are proud of it ...

Mageeka

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Re: Property Prices in Belfast
« Reply #43 on: November 03, 2007, 11:54:26 PM »
After heavy rises the US property market has levelled out and indeed started to decline in price.  There are now some "Johnny come latelys" who will end up with negative equity.

twocoats

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Re: Property Prices in Belfast
« Reply #44 on: November 04, 2007, 12:42:46 AM »
After heavy rises the US property market has levelled out and indeed started to decline in price.  There are now some "Johnny come latelys" who will end up with negative equity.

If it has levelled out M then it is only a stutter. They will keep going up. Unfortunately the US has got themselves in a little bit of a bind what with owing money to China and India of all places. Go figure.
BTW. I see the US Dollar is now $1-07 Canadian.First time in 60 years.
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