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House Price Crash Forum

BelfastVI

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Everything posted by BelfastVI

  1. Larger room and garden size are not "structural" or "quality issues". They are size issues. You could buy a small house 30 years ago and you can buy one now. I am not sure if there is data to show the average size of housing over the years. Perhaps LPS might have that sort of info but I don't recall ever seeing it. As for sound proofing it was not a big item of cencern 20 or 30 years ago. There was very little, that I recall in the old Building Regs concerning sound. I know we have more apartments now (people living above and below) but we had just as many semi and town houses or terrase housing back then. In recent years it is certainly a big issue. I will not go through all the steps and when they have been introduced but they are signficant.
  2. I just don't get how you can say a house built 30 years ago is of better quality than a house built today. I have been around in the industry, almost that length of time and I can assure you that is not at all the case. I (obviously biased) believe the company I work for builds quality homes. However what we build now is way ahead of what we or indeed the industry in general was building when I started. Thirty years ago there was basic insulation and little notion of air tightness. Presure treated timber and kiln dried joists were not in circulation. ground floor insulation was not in the building regs.
  3. 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.
  4. 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.
  5. 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.
  6. Q4 2019 NIRPPI REPORT LINK Quarter Change +0.2% Annual Change +2.5% Number of Sales 6,021
  7. 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.
  8. 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.
  9. 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.
  10. 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.
  11. 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.
  12. 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.
  13. Yes this is increasingly the case. I would say 90% of the houses we sell are to couples.
  14. 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.
  15. Its not a multiple of 'household income' but a multiple of Median individual income.
  16. Q3 2018 NIRPPI REPORT Link Quarter Change +2.3% Annual Change +4% Number of Sales 6,002
  17. Its went 'Sale Agreed' whats the point you wanted to make?
  18. He has no idea. Has he? But we wish England the best of luck. I am sure England (along with Wales) will be have an outstanding future, and will indeed stand alone as a shinning example of clear stratigic planning in the current complex world of trading agreements.
  19. Q1 2019 NIRPPI Report NIRPPI Link Standardised Price £134,811 Quarterly Change -1% Annual Change +3.5% Number of Sales 4,272
  20. I too wired my house with CAT5 but since realised it was a waste/ Wi-Fi has come on so much and most of the devices are mobilr anyway. if doing it again I would have limited it to the main TV locations.
  21. Firstly it is as important to pick your builder as it is to pick your house. Secondly chect who is supplying the warrenty bond. In my book the NHBC is the only one worth the paper it comes on. Good builders will want to create a good impression not only in the hand over of the new house but also in they way they take care of repairs. I have seen people employ these experts to snag the house prior to completion. They make a project of it and appear to forget that most defects dont appear until 6 months later. If they have signed off upon completion there could be a problem. We try to have everything perfect at hand over but always tell purchasers that things will occour over the next few months. A radiator may become air locked. a tap may have a drip. doors might swell etc. We ask people to note them all down and sumbit them in a few months, unless it is urgent orcourse. W e then arrange a time to sort it out. If we dont then they turn to the NHBC and they do it if it is a defect. You wouldnt by a phone, a TV or even a kettle without looking at the brand. Why then buy a house from an unknown 'ABC Builder Ltd'.
  22. osts largely depend on what stage the house is at. For example if the electrical work is not done yet then an extra scoket should be fairly cheap. however if the house is plastered and someone has to come back and retrack then that is a big mess and price. Sometimes it can be easily managed if you can back to back. IF one new socket in a bedroom, in the same position as one on the opposite side of the wall in another bedroom. Same goes for the aditional door to teh En suite
  23. He has been calling a crash in UK since 2004. I wish he had been right might have saved people lost of money. But he was wrong. Yes the crash did come in GB 4 years later and they suffered a 20% fall in price. His claim to fame was NI which surrered the 55% crash he had been prediction for so many years. NI is 3% of the UK population. Last I heard of him was on Nolan in 2013 predicting the falls would continue to 70%.
  24. its a transformers that step down the voltage to household voltage. They appear all over the country. No I dont believe they cause any harm apart from being somewhat unsightly.
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