House price boom continues…

Despite rising prices in Northern Ireland buyers from the Republic are taking advantage of lower rates north of the border to find affordable housing.

  • Bill

    Hope the folks over at ATW don’t see this headline. Many restless nights for Mr. Mc Cann as he contemplates the large-scale acquisition of properties by more ‘fenian insurrectionists’! LOL 😉

  • sluggette

    A house in my estate just sold today for £70,000 more than I bought mine for last year. Thats a hell of an appreciation in 12 months.

    All very well of course, but pity the children that cant afford to buy in the area at all. Rostrevor was always a little pricier than surrounding parts, but there would be no hope at all of my ones buying here. Its certainly a pattern you see here, with off spring moving to Hilltown or Newry for reasonably affordable housing.

    I;ve thought for a while that Belfast is like the Dublin I knew in the 70’s, when I could have bought a house in D4 for 20k. What a difference now?

  • West Belfast blog

    Sluggette what a difference also in west belfast. The cost of housing here has rocketed. It was always expensive to buy in a ‘safe’ area, but now its just expensive all over. A lot of the smaller houses are renting out at £500 per month from private landlords, otherwise its a hefty mortgage. Altho there has been some nice new council housing springing up around west belfast, from the HE and housing associations, which if you are lucky to get one are much more affordable.

  • crataegus

    We have all the signs of a housing shortage coupled with liberal lending environment.

    If you are a first time house buyer in part thank Rooker, blame the Planning Service and ask why with a relatively small population we should not be building enough houses for everyone?

    Rising house prices only help those intending to move to another region who own a house, or those with a portfolio of property, or those wishing to get up to their necks in debt by borrowing against their property. Also helps the Chancellor when we snuff it and keeps us up to our eyes in debt with the bank.

    You don’t need chains to make someone a slave all you need is enough debt.

  • Harry

    Those who seek to profit from other’s need for shelter always tread a fine line between providing a service and being a parasite. In Dublin the parasites have long ago passed that line and now we are required to provide very heavy monthly rents to a class of people who produce nothing and suck the maximum amount they can from other people’s monthly labours. The house price boom in the south has seen great pressure on all to conform to a very narrow set of economic concerns and greed. Typical of the southerners, after having failed to build up a decent economy over three quarters of a century, to concentrate – now that money has arrived in the economy – upon the least productive and most exploitative sector of financial growth – property speculation – as a means of extracting the highest amount the fastest possible from their fellow citizens. Gombeenism – the very mentality which failed to create wealth in the first place.
    What we are witnessing in Dublin is abusive and extreme.

  • Harry

    I have more faith in the northerners to kick up a fuss and defend their rights in the face of rackrenting landlords – should they begin to appear – than I have in the passive southerners. I hope that the house price boom in the north does not reach the levels of extremism it has in the south, with the pressure and social damage that is to be seen down here.

  • TOT

    The biggest issue is fundamentally enough houses arent being built.

  • Paul

    “In Dublin the parasites have long ago passed that line and now we are required to provide very heavy monthly rents to a class of people who produce nothing and suck the maximum amount they can from other people’s monthly labours.”

    Not only in Dublin.

    For the last three years, Irish property speculators from both sides of the border have been rampaging all over the new EU, basically buying up anything that hasn’t been chained down.

    Because of them, the housing market, in the capitals especially, has been completely thrown out of kilter, with many locals now being priced out of their own neighbourhoods.

    I only hope that more than a few of the leeches get their fingers burnt when they start trying to realise thir investments in the years to come.