I was surprised to read that in many areas of England property sells at or even sometimes below the asking price. Is this really the case? In Belfast, where I live, and N. Ireland in general, you can expect a bidding war and easily 20-30K to be added on to some properties. One possible reason for this is that agents post a lower price to attract more interest, but even so the difference can be crazy. A house near to us had an asking price of 300K and is now at 355K. Is this the case over the water and/or Scotland/Wales?

The situation you are describing was the case in Sheffield up intill about 18 months ago. The market has now slowed right down now. I assume Belfast is just at a different phase in the property cycle?

Neil - what's sustaining the market in NI? The current situation (i.e. silly over-bidding when prices are already at an all time high) sounds like a very frothy market where people are going to get their fingers burnt soon. Problem is, unlike in the rest of the UK, NI has no recent history of property prices falling so everyone views property as a 100% guaranteed investment - a dangerous situation! (No one in their right mind would over-bid in England at this point in time - most deals are probably 5%-10% below asking price.)

Interesting - I don't think anyone sees it slowing down here for quite some time but who knows for sure? There is so much new build here, loads of apartments in the city. First time buyers are really being squeezed out now and you'll be bidding against investors too. There are a few factors such as recent planning restrictions around towns and new school catchment rules that I think will continue to push prices up. I don't think new build has caught up with demand yet, if you drive through any smallish country towns there is not as much development available on the edges as you might expect. In Belfast the most desirable areas are now crazy prices (and still rising) so the rush for families is to buy on the edges of that. I would be a little cautious of buying loads of flats in the next few years as they may had almost had their day, or at least are not such a great buy as two years ago. When we bought our own house two years ago we faced stiff competition and had to go to 22K over the ask (as cash buyers) to get it. The alternative was to go to a 'worse' area and a house with some features like a loft extension that we didn't like/want. Anyway, just my 2 cents...

Hi Neil Where are some good areas to look at then in your opinion. Thanks Mark

Mark, what kind of property and what city?

Neil - you said "In Belfast the most desirable areas are now crazy prices (and still rising) so the rush for families is to buy on the edges of that." So where do you think meets the following criteria? - still reasonably priced (relatively speaking) - within commuting distance of Belfast - nice area to live

Sam, in my own humble opinion, a lot of East Belfast around upper Cregagh, Bloomfield, Ballyhackamore, Orangefield. It's not that big a city so most areas are handy for a commute. I'm not so familiar with the West/North so there could be something similar happening there. Local agents tell me that there's a big rush on small terrace houses at the moment - the problem is that the rush is in full swing - a year ago would have been the time!