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House Price Crash Forum


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About BelfastVI

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  1. I have been posting here regurally over the past 5 or 6 years. welcome back to everyone else. good to hear from you all again.
  2. One agent told me that enqueries about houses and plots in the country side has 'gone through the roof'. Not sure if that means he got 10 calls or 100. Not what I want to hear, in my VI world, but interesting. If that materilises it starts to show how people are re-viewing what they want in a home.
  3. Last year the NI market was somewhat subdued due mainly to the uncertainly around Brexit etc. Whilst I am not claiming that the election of Borris should settle anyones anexity over the impact of Brexit it did calm the market and both sales and prices have increased since. This will not show up until the next NIRPPI Report. The arrival of Cronavirus may have a bigger impact on the market. We simply don't know if it will be as bad as Italy or if there is any reason it shouldnt be. I imagine there will be more important things to worry about in the coming weeks and months than House Prices.
  4. Q4 2019 NIRPPI REPORT LINK Quarter Change +0.2% Annual Change +2.5% Number of Sales 6,021
  5. too much even to get my head around the implications that our unique position will take us without thinking about that. Whilst there is some head wind for a UI I imagine it is far in the future.
  6. London sells alot of extreemly expensive apartments to mainly overseas people who, for various reasons want to have Sterling assets. this completely distorts the prices there and the price of these multi million pound apartments has no relation to average income in London.
  7. It is true we have an aging population. the impact of this is people are holding onto housing stock longer before it recycles. Aqnd you retirement villages, rather than retirement homes are the answer which would allow the 'empty' nesters to release their family houses back into the market place.
  8. As stated below I am a builder. The answer is no. There is good supply of mortgage availability and has been for the last 5 years. It is only when mortgages lenders pull back their Loan to Value ratios that Cash becomes King. I imagine if someone is saying 'cash buyer only' it means he dosnt want a suveyor or solicitor looking too closely at it. draw your own conclusions.
  9. You are right of course. they dont evaporate and should have explained further. they are been purchased by people to live in rather than to rent out. Which is one way is a good thing but on the other hand, and the point I was making - it is depleting the rental stock. The net effect is not zero as there are aprox 20,000 people come of age every year. some stay at home, some rent and some buy. If the rental stock is decreasing every year then we will have a problem.
  10. Something that has to be taken into consideration is the differance in the alternative which is renting. I believe it is this differance that drives people towards buying rather than renting and vice versa. Rents have been rising in NI. I believe this will continue as the BTL bandwagan are exiting due to pressure from their bank, rising prices allowing them out, and the change to the Tax allowance on interest. There are no new private BTL entrainties. There are some inst' investors in the Build to Rent schemes, but these are aimed at high rent locations. Therefore the number of properties for rent is and will continue to decrease and the number of people looking to rent has and will continue to increase.
  11. Yes this is increasingly the case. I would say 90% of the houses we sell are to couples.
  12. Guys this is a forum to discuss House Prices, particularly those in Northern Ireland. Whilst I am interested on opinions on the possible impact Brexit may have on house prices we do not need to hear the whole debate on Brexit here. There are many other forums specifically set up for such.
  13. Its not a multiple of 'household income' but a multiple of Median individual income.
  14. Q3 2018 NIRPPI REPORT Link Quarter Change +2.3% Annual Change +4% Number of Sales 6,002
  15. Its went 'Sale Agreed' whats the point you wanted to make?
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