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House Price Crash Forum


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About BelfastVI

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  1. the only thing local politicians can do is zone more land to increase the supply of new housing but there are no votes in that.
  2. not trying to encourage you but you will equally be getting more for the sale of your own house now. It is the overall increase in debt as a result of the move that you will have to look at. Same applies if house prices start to fall-yours goes down too. whilst the gap to move up may decrease banks retract into their shell.
  3. 20 to 25 years still the norm and must be repayment
  4. The last time the banks fueled the boom by dishing out the money 100%, 105% no questions asked with self certified income reports. Its no where near that now.
  5. Always to give advice on this matter as I have a vested Interest. Despite that I am always nervous when prices rise fast as if it keeps going there is only one outcome. However, the cost increases we are seeing in the industry are eyewatering (from 10% on some materials to 40%. I have never experienced anything like it. is hyper inflation here? that only impacts the new-build market and we make up less than 20% of the market but the newbuild market will be forced up in price.
  6. I would speak to a mortgage advisor first. I would ask for quotes for 5 or even 10 year fix rather than a two year teaser.
  7. there actually was a thread on here years ago that tracked the number of houses on propertynews. I cant remember the numbers. Firstly a lot of the available houses has been booked. Secondly, in a rising market people hold back placing their house on the market using the dangerous logic they will get even more for it in a few months time. For people offloading houses they bought in 2006 this is somewhat understandable. They may feel they could get what they paid for it. However, as I say, dangerous logic.
  8. If the 'spare' 5 acres is decent agri condition then it could have a value of £25k to £40k which brings the cost of the actual site down to £60k to £75k for comparison sake. if it has good lake views then its up to you to value how much that is worth to you. For build cost start at £100 per sq foot. the price goes down the bigger the house gets so a 3,500 sq foot house will be cheaper per sq foot than a 1,200 sq foot house. However, we are experiencing massive inflation at the moment 40% in timber for example. Passive Housing is a lifestyle as much as a building standard and whilst y
  9. of a specific property yes, in Land Registry but unlike England it is not free or easy to access.
  10. there is serious increases in building costs. Inflation is here!
  11. SDLT duty, for first time purchasers was basically free in Ni (all houses under £150k) for some time. there have been low interest rates for several years. I don't agree borrowing is lax.
  12. The Pandemic has actually increased demand and thus prices as people revaluated their living accommodation, made and are continuing to make decisions to mover to better accommodation. All the time there are constraints on supply - slow planning no new zoning of land. Brexit and Covid together have increased the cost of build substantially.
  13. In most 'traditional built' houses the ceilings and most of the upstairs internal walls are formed in timber studs or joists and plasterboard. If constructed right there should be no problems. Timber frame houses can be build to a higher air tightness level. but if depends who you go for the kit. If its the cheapest quote then expect the problems referred to above. If you go for the established more professional firms you will get a better product. Traditional is still cheapest but if you are self managing you will have more trades and materials to look after. As for build cost allow £100
  14. I see Q4 2019 sales numbers have indeed been revised up from the 6021, as first published to 6,757 (736 increase). The Q4 2018 figures were similarly revised up by, in that case over 1,000 units so it would be safe to assume that Q4 2020 will over time be revised up as well. My comparison of 17% was the first release of Q4 2020 with first release Q4 2019. we can look back in a years time and review. It is t no one's surprise that the overall 2020 sales numbers were down given the complete shutdown over a number of months. I think all, including myself have been surprised at the
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