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Northern Ireland Developer - We give in

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  • 27-08-2008 8:53pm
    #1
    Dublin1600
    Closed Accounts Posts: 62 ✭✭


    A development near Belfast is in difficulty, "We're finding it hard to sell and you're finding it hard to buy"

    http://www.fraserhouses.com/

    I posted this earlier but "somehow" my post was deleted without explanation :mad: WHY:confused:


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    #2
    Duckjob
    Registered Users Posts: 2,859 ✭✭✭Duckjob


    Dublin1600 wrote: »
    A development near Belfast is in difficulty, "We're finding it hard to sell and you're finding it hard to buy"

    http://www.fraserhouses.com/

    I posted this earlier but "somehow" my post was deleted without explanation :mad: WHY:confused:

    Interesting. Thats around 175k euro for a 3bed semi.

    Where is Glengormley?


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    #3
    SimpleSam06
    Closed Accounts Posts: 4,048 ✭✭✭SimpleSam06


    Dublin1600 wrote: »
    A development near Belfast is in difficulty, "We're finding it hard to sell and you're finding it hard to buy"
    I love the little white flag waving, heh. They at least are being realistic though, a lot of sellers are still aiming around the €100k per bedroom mark, depending on where you are buying, which is still overpriced imho.


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    #4
    Duckjob
    Registered Users Posts: 2,859 ✭✭✭Duckjob


    SimpleSam06 wrote: »
    I love the little white flag waving, heh. They at least are being realistic though, a lot of sellers are still aiming around the €100k per bedroom mark, depending on where you are buying, which is still overpriced imho.


    That's nothing. You've still got some jokers posting asking prices of 360k for 2 bed apartments in the arse-end of North County Dublin. I don't know why they bother posting those ads at all.


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    #5
    Colonel Sanders
    Closed Accounts Posts: 7,669 ✭✭✭Colonel Sanders


    Duckjob wrote: »
    That's nothing. You've still got some jokers posting asking prices of 360k for 2 bed apartments in the arse-end of North County Dublin. I don't know why they bother posting those ads at all.

    2 reasons I can think of

    1. Denial isn't just a river in egypt as the lads on the pin say. A lot of people are firmly entrenched in 2006 prices, others are convinced its only a blip and other hope beyond hope its only a blip as they are screwed otherwise

    2. Anyone making an offer these days will take the p!ss with their first offer. A high asking price means an offer 25-30% below asking is around the ballpark figure they'll accept. No idea if tactic works but I've heard a few people mention they were doing it or people they knew were doing it


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    #6
    mrgaa1
    Closed Accounts Posts: 759 ✭✭✭mrgaa1


    Glengormley is north of Belfast - maps.google.co.uk there are some great offers out there for those looking to buy. Developers are probably staving off the interest rates on their "mortgage" on the lands and build costs and this is why the need for price drops. Personally I think developers and such likes will dictate the bottom of the market - and it looks like we're nearly there.


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    #7
    martian1980
    Registered Users Posts: 370 ✭✭martian1980


    mrgaa1 wrote: »
    and it looks like we're nearly there.

    We're probably nearly there in the north alright


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    #8
    SimpleSam06
    Closed Accounts Posts: 4,048 ✭✭✭SimpleSam06


    mrgaa1 wrote: »
    Personally I think developers and such likes will dictate the bottom of the market - and it looks like we're nearly there.
    If they could dictate the bottom of the market, they already would have. We're nowhere near "there".


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