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BelfastVI

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  1. It is all very interesting and with nothing set in stone it is impossible to make major strategic decisions to relocate. However I imagine manufactures in England have been putting off expansion plans for that very reason. If the dice rolls a certain way NI may be the only location that can export, without taffifs to bot GB and the UK. That may place it at an advantage over ROI and GB for an English speaking location. Had we obtained the power to set our own C Tax then we could have become a player. Re the block grant there are many parts of GB that run at a neg tax/grant with somet
  2. Very small amount with us >5%. I am hearing that this is what is boosting the north coast prices.
  3. Public sector, which is probably greater than 30% wont have to worry. Many purchasers who had mortgage offers had these later rescinded as they were furloughed so no they didn't slip through. I lost a few sales under these circumstances.
  4. People on Furlough cannot obtain a mortgage. Indeed many people who are in full time work but working in an at risk industry such as retail and tourism cannot obtain a mortgage.
  5. Q3 2020 NIRPPI REPORT LINK Quarter Change +1.5% Annual Change +2.5% Number of Sales 4,630
  6. Went over the sales on our largest site, over 250 dwellings. Those, at time of booking; Not subject to sale 47%, Subject to Sale 13%, Own house agreed 40% Therefore those booking who owned a house =53%. Call it 50/50. It will differ on different sites depending on product and location. Duration from reservation to completion on that site is averaging 5 months. To be honest this is not necessary the duration of conveyancing but more a product of when we release and sell the houses which is generally at foundation stage. If the market is going well the duration will be longer as
  7. In my experience 16 weeks is average for booking to completion for the houses we sell and this is pretty much the same over the last 20 years or so. Maybe our buyers are slow but I expect that to be industry standard. I don't know if there is data out there on this. If it is an existing house with no chain I expect your timescale may be correct. I am coming from the new build sector and we generally release at around foundation stage. A buyer may have their own house to sell and that can take time to achieve. hopefully it all comes together in and around the construction completion
  8. 4 months is fairly standard for booking to completion. We seen the same increase in bookings over the summer but that was just catch up from 2 months of hardly any. those completions ar thankfully happening now. will that continue- I have no idea.
  9. I can see the market slowing to almost a stop year end and Q1 of next year but that is likely to be caused by a stall in the issue of mortgages rather than a lack in actual demand. There has been no let off in demand and prices have increased throughout all this. Output of new housing stick in NI will be 25% to 30% of what is needed. A lot of people were predicting large drops in April/May. I can understand why they thought that but as the OP states there was no froth to blow off and this shock to our lives (which is far from over) has made us reassess housing.
  10. Q2 2020 NIRPPI REPORT LINK Quarter Change +0.3% Annual Change +3% Number of Sales 1,652 (One quarter of normal)
  11. The want to increase living in the City Centre. Tribeca is part of that. They want to go high and want to have people 'living above the shops'. As I say I am not so sure thats what people wanted in Belfast and Covid-19 has made my view on this even stronger.. Manhattan has 15,000 vacent apartments for the first time ever. There may be many reasions for this i.e. the normal influx of people has stopped etc. However property prices in up state New York has 'rocketed' (estate agent speak for any price increase) but it would indicate, whilst not a flight to the countryside, a re-consi
  12. if unimployment increases overall average earnings decreases. Will the income of those still in work also decrease? that will be interesting to see. certianly there will be little in way of presure for wage increases. Always difficult to lower pay but hours worked could well decrease.
  13. during the boom there were 5 quarters averaging in double digit increases ending in Q3 2007. Starting in Q4 2007 and for the next 6 quarters there was a 45% drop. These reports are showing the activity in the quarter before. so the music stopped around Sept 2007 and both volumes and prices collapsed. If we had average prices of £230k and similar multiple of household income now then this undoubtablewould have triggered a similar, if not larger collapse. In 2006/2007 the industry was delivering around 14,000 new houses pa. Over the dozen or so years since it has been less than half th
  14. 90% and 95% has been the norm for some time for housing (They do limit apartments to 15%). Offered from both local and UK providers. They have all pulled back. The Help to Buy is a big factor in the rest of GB (not available in NI). Basically the Gov pays the 15% deposit for FTBers up to £600k dwellings. I think they should have weened the market off that years ago.
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