I`m sure this will appear in trees don't grow in the sky, but its nice to see South Belfast cracking

339950
http://64.233.183.104/search?q=cache:vEQJU...;cd=1&gl=uk
299950
http://www.propertynews.com/brochure.php?r...1209HF142227810


Rateable value 215k
http://vlistdcv.lpsni.gov.uk/propertydetai...nce+Edward+Park

I wonder if a cheeky offer of 215k would secure it?

Another one:



(from http://www.poolerestateagents.com/)

Sure, it makes sense! And will make even more sense to reduce it even more - might really sell then

Nice find Vespasian!

and the rateable value is...

http://vlistdcv.lpsni.gov.uk/propertydetai...Greenville+Road

This seems to be a standard Price/RV ratio for those dog kennels these days...

"I wonder if a cheeky offer of 215k would secure it? "

Its worth it. I bid down a property a few months ago from 180 to 145. (35k off), still wasnt worth it though, just testin the waters.

It all depends on the vendors position ofcourse.

I really do encourage you all to give it a go. Be deadly serious with the agent. They respect balls, plus will help to drive expectation down to more normal levels. (and its better than complaining on a forum about it no dig intended)

Another one from Pooler-Watson:

.

If they take off another 20%, I may be tempted to go and view it, and - may be! - make an offer some 10% below he asking price... something like 100-110K...

Not that I want this one, but the price is heading in the right direction (£110K - > £95K):

http://belfast.gumtree.com/belfast/26/17479126.html

And the sitting tenant is dutifully paying a whopping £350 a month!

Where's my BTL (Buy-to-Lose) calculator? -

These are all very interesting, nice to see that even South Belfast is not immune! The Tele and Helen C are going to look like prize idiots very soon.

Sustantiate please, or they will sue you!

I think they should move her to weather reporting. She can predict that, 'now the snow has melted, winter is over! Summer comes in January for Northern Ireland - while the rest if the nothern hemisphere are starting winter.' Allegidly

I wonder does her editor honestly believe what she is writing, because nobody else seems to.

new issue of treesdontgrowtothesky 5.1.08 203 reductions - what a good start to the year.


http://www.treesdontgrowtothesky.com/Prope...NI/05.01.08.htm


I take my hat off to the hypothetical person in Downpatrick who allegedly increased the prices of the sites on the Demesne by about 50k. Balls of steel.

203 reductions!

And I thought the party would start next week!

I think we will see panic stations estate agencies across Northern Ireland come beginning Feb - get ready for the big shakeout.

Is this the biggest ever amount of reductions?

I have to say big ups to the people behind this fascinating website. If stats like these dosn't turn the last bull- bear then they are not sane. This must remove any lingering doubt that we are headlong into the biggest crash this countries ever known.

Thanks H.P.C. and T.D.G.I.T.S. You will save many young people from the misery of being debt slaves for the best years of their lives.

Just spare a thought for those who weren't so lucky

Anyone see the 64.7% drop in co. Clare?
http://www.treesdontgrowtothesky.com/Prope...EP/05.01.08.htm

needs a bit of work though
http://www.propertynews.com/brochure.php?p=PNC154514

I haven't seen this type of ad before.

Price reduced for one month only.

http://www.propertynews.com/brochure.php?r...amp;p=PNC277622

http://64.233.183.104/search?q=cache:eVAFo...lient=firefox-a

Then it goes even lower?

Horribly overpriced (capital value 49k)

You can have this for 260k


http://www.propertynews.com/brochure.php?r...amp;p=PNC292398


or go a few doors down for this 205k

http://www.propertypal.com/property/reside...#property/11830

How about this street?

http://www.propertynews.com/brochure.php?r...mp;p=FDPFDP2589
295k

http://www.propertynews.com/brochure.php?r...mp;p=BMCBMC1599
215k

Main difference I understand is a conservatory as they are the same house type!

Sorry I haven't been able to contribute much to this thread Vespasian - I'm waiting for a couple of years at least before I purchase an investment property in NI - I want to see how the failing economy affects asset values. However if inflation goes stratospheric I may be looking sooner.

Good posts from everyone really enjoyed reading them.

EA speak for reductions!



http://www.freddalzellandpartners.com/late...view&nid=25

i.e.
Now 210k
http://www.propertynews.com/brochure.php?r...mp;p=FDPFDP2439
Was 245k
http://64.233.183.104/search?q=cache:nenpe...;cd=1&gl=uk


And:



http://www.freddalzellandpartners.com/late...view&nid=24

Just found it 45k reduction (I think!)
Was 195k
http://64.233.183.104/search?q=cache:7vvFQ...;cd=4&gl=uk
Now
150k
http://www.freddalzellandpartners.com/broc...lopment&d=8

new graphs of drops in prices on TDGTTS


http://www.treesdontgrowtothesky.com/PN_NI_charts.htm



Hope we start seeing blue take over.

[quote name='FrustratedFTB' date='Jan 10 2008, 07:56 PM' post='920603']
EA speak for reductions!



Good find FFTB - the more info on drops the better.

"Currently marketed at 220,000 but would consider any offer over 205000 for a quick sale.":

http://belfast.gumtree.com/belfast/03/18293703.html

What would you do in the following scenario:

High inflation of goods and services BUT deflation in house prices - i.e. your money has less spending power in some areas but as a % of house prices it's increasing.

Two pages worth from one agent/one branch!

http://www.propertynews.com/results.php?s=35341826&p=1

I like that big red slogan style. Very eye catching!

Good grief 767 price reductions this week - that can't be right surely? I thought the market was picking up?

http://www.treesdontgrowtothesky.com/Prope...NI/12.01.08.htm

It's not.

There were "only" 755 reductions. 12 changes were increases!

How right you are

This is taking me totally by surprise I thought it would be February before the crash began in earnest. I think the media is getting through to the people.

did you see the amount of REDUCED PRICE notices up with them too

755 reductions? Its NICE!

This is crazy! AND this is just the start!

Well folks, with 755 this week and 203 last week, that represents only 4.35% of the 22000 odd on propertynews. These may seem like big numbers, but we have a long way to go to the bottom.
Anyone have any idea how much below offers are coming in below asking prices? Estate_agent_NI?

I was talking to a friends brother last night who is trying to sell in Lisburn. They had a viewer last week. Him and his wife were joking about it being the only viewer in Lisburn. I wonder how this lack of business is affecting EA cashflows? Business has been pretty slow for 6 months

The January sales have started! Just check out the charts The blue (greater than10% price drops) is growing at a rate of knots.

Yes, the EAs are starting to become desperate! They are going to be doing our work for us soon by advertising the price reductions in BIG RED LETTERS.






Good news.



I would say EAs are a in big trouble with so little business going on. Some are consolidating, it remains to be seen who will survive. But I'd say there will be fewer EAs by this summer than there are now, and fewer again by Christmas etc etc.

I would say EAs are a in big trouble with so little business going on. Some are consolidating, it remains to be seen who will survive. But I'd say there will be fewer EAs by this summer than there are now, and fewer again by Christmas etc etc.
[/quote]




Yes - they are the victims of their own greed, and I for one have no sympathy for them. They effectively talked up the hype of the market for a quick buck to the detriment of FTBs etc. Now there is anecotal evidence that nothing is selling and jobs in that area are being lost. Had they collectively had the foresight to add a degree of rationality to the whole bubble thing, then their prosperity would be a longer vision.

I agree EA's are a bit stuffed at the moment with very little turnover by all accounts, but they aren't dumb either. Pretty soon they'll start talking the market down and trade margin for much needed volume- evidence Pooler Watson guy on Newsline last week in a not-so-subtle attempt to moderate seller expectations. The depressing truth is E.A's win both ways! (provided they haven't invested in BTL that is!).

So much for all the talk about detached houses being the last to fall - 270 quid per day sounds good to me.

http://www.dailymail.co.uk/pages/live/arti...in_page_id=1770


Did anyone hear last night's UTV news at 11pm - I am almost sure I caught a bit about house prices over here dropping 6% in November? I don't have the plug in needed to listen to it again

That's what we're all waiting for - the EAs becoming our allies.




Anyone else hear this?

http://www.sharecast.com/cgi-bin/sharecast...tory_id=1853248

Interesting!

Btw it looks like apartments from Margarita Plaza are coming down in price quite a bit, I can't find the link to compare prices but these 2 apartments were around the £250K - £240K mark no more than 1 or 2 months ago

http://www.propertynews.com/brochure.php?r...amp;p=PNC309398 (210K)
http://www.propertynews.com/brochure.php?r...amp;p=PNC285758 (220K)

They seem to be dropping slowly by around £10k at a time, they still have a long way to go though!

Have to stick up for my estate agent - Vision. Went with them for a few reasons: I met Jeff at a business networking event when he was just starting up last year and had a good gut instinct about him, because he wanted to bring in BEST practice - not worst practice - from years of experience in England. Including a set fee for selling your property - of £850. (So less than 0.75% commission - on properties over 115k or so - than most estate agents were then offering.) Which meant of course that there was no 'business case' for ramping up property prices, and that each client's as important as the next. He hasn't engaged in any 'spin' in the press or via leafleting (I got a leaflet from another EA recently saying 'you may have noticed we sold a house in your area recently - so there are still people buying' - says it all really!) and in fact was the person who pointed me to this board last year so I could read up. Has been honest since day one and I'm hoping that if there is a 'cull' of EAs in the UK it'll be EAs like this who aren't 'flash Tony' types but actually have integrity with their business who will survive and succeed.

QUOTE
Northern Ireland saw the average price of a house fall from £241,159 in October to £225,890, while growth on London dropped from 17.7% to 14.1%.

Wow. £15K drop looks even more impressive on paper.

Agreed. Like any industry there are good eggs and bad apples.



Wooo-hooo. Thats 6% if my maths serves me right! Bring it on! This is only the beginning mind. 20% by years end and after that...who knows.

Correct me if I am wrong! but

This is a reduction of 20k from 180k (when it first went on sale and I noticed it, I think it was 120k (or 140k) but during the crazyness went to 180k even though it is CASH PURCHASERS ONLY, as I believe it is impossible to get a mortgage on it due to type of construction and I don't think it has ever sold)

http://www.propertynews.com/brochure.php?r...mp;p=FDPFDP1969