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House Price Crash Forum


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Everything posted by BelfastVI

  1. As a buyer of land I have the same fears when told there is an offer. when do you believe them? I rank them as slightly below second car dealers. That said we use them to sell our houses but they are at a fixed price so the issue never arises. How much if this is the agent or instructions from the houe owner?
  2. Nice area. houses are 25 years or so old. One on market for £230k at moment. Lot of money for a not to big house. paying for location.
  3. In England and RoI there are minimum density settings which are higher that even developers would like. its all to do with best use of land. In NI thats not the case and whilst there was ramping up of density in 2006/07 (as anything would sell) that has decreased since and any schemes we are involved in are well below the max and sometimes min density recommendations in the area plans. the 1.2 parking space rule is generally only for city center apartment schemes or social housing schemes with good public transport links. Any of the housing schemes we are involved with have a requirement of 2 in curettage spaces per dwelling plus overflow visitor spaces throughout the development.
  4. I don't believe the depreciate faster
  5. I can't see a down side to that. It has surprised me that the whole Brexit issue hasn't had a bigger impact on house prices and sales. Or perhaps it has and prices would have increased more only for it but I find that hard to believe. Whilst we are only one builder our sales since the start of the year have been our best ever. I cant really explain it. I honestly expected the uncertainty of what is going to happen with Brexit to put people off making big decisions. I was completely wrong about that.
  6. As well as building a lot of houses I have also has to demolish lots. All the old Belfast housing I replaced was replaced at a lower density. Most of the old houses had a small back yard and no garden. They were also smaller. There are fine examples of period houses that will stand the test of time however the majority had no cavity, no insulation, single glazing and no treated timber. The building control regs were of a dramatically lower standard.
  7. Interesting comet. You do realise all houses were new once. What decade of construction 60's, 70,s etc do you consider to be superior to to days?
  8. Q4 2018 NIRPPI Report NIRPPI Link Standardised Price £136,669 Quarterly Change +1.3% Annual Change +5.5% Number of Sales 5,736
  9. Nationwide holds such a small part of the NI Housing Market than no one takes their report serious anymore. At one time they were one of the larger players and their report carried a lot of weight. The best report is the NIRPPI Report that is issued every quarter. Although looking at the houses that completed in the previous quarter, therefore reflecting the sales activity in the quarter before that it covers all sales and is therefore the most accurate. It has showed no such increase..
  10. Not at all an expert but if you don't pay you are in breach. You may well have a claim if you feel the Landlord has not acted properly and you may have good reason but before you take the decision to simply remain in the property but not pay for it, take legal advice. You have strong rights as a paying tenant.
  11. I think there are a few games to be played yet. There will be a fudge on wording around the backstop and the DUP will be able to blow that fudge up into a hard won concession and how they saved the union. I care little about this and the internal politics and am just keen to see NI gain the advantage of open trade with both GB and EU.
  12. the recent reliance on the DUP has been a one off. prior to that successive UK governments supported NI. Just as they supported parts of the north of England to a similar extent in extent to £/person. The biggest risk is that the general GB public has now become aware of what a noisy, troublesome and expensive people we are. Some people in GB believe the DUP are the only ones standing up to the EU others think the DUP have punched away above their weight and are holding the rest of the place to ransom. The DUP are banking on the former but we will only know the impact of this after the next election when the mathematics are unlikely to place them in the same position.
  13. Q3 2018 NIRPPI Report LINK Standardised Price £135k Quarterly Change +2.3% Annual Change +4.8% Number of Sales 5,722 (4% fall on same quarter) figures for Q1 2018
  14. The Q1 annual change is looking at the change from Q1 2017 and Q1 2018 The Q2 annual change is looking at the change from Q2 2017 and Q2 2018 so it is not only the change in the last quarter which impacts the new annual figure but also the change between Q1 & Q2 2007.
  15. The figures you mentioned £600 to £750 were my thinking too. As I say I have been approached about it but can't see it working here.
  16. This build to rent proposal is coming from the funds that, as you say do this in other areas. I'm not talking about the Buy to Let boys. I understood rents have been going up but average rent is something around £600 to £700 per month. However averages, as we know are misleading and it includes all the hovels as well. The German model, which I understand is only in a number of cities is state subsidized housing for rent. Its not means tested and the theory is if they control enough of the market they can control the overall market and for quite a while that has worked.
  17. According to wikipedia. However going by the Cambridge Dictionary a Penthouse is defined as: "an expensive apartment or set of rooms at the top of a hotel or tall building"
  18. Some penthouses may very well have their own separate elevator. I haven't seen any and wouldn't like to be paying for the maintenance fees for this luxury. I think this would perhaps something you would see in top end in London etc. I have seen some that required a code to be entered into the lift to allow access to the upper floors. 'The definition' above uses the word "usually" which means that it can still be classified as a penthouse without its own exclusive elevator. I would expect, in this part of the world that this would be the exception rather than the norm.
  19. not sure on the size. they were wanting to talk to me about bringing housing into the model. i just heard them referring to the rental figure they were working on for these apartments. I understand it may include heating and electric etc but it was higher than I expected. Perhaps this should be a topic on its own but do you think the market is shifting towards that, These people appear to be putting their money (or as 2buyornot2buy says your money) where their mouth is.
  20. COllins English Dictionary "A penthouse or a penthouse apartment or suite is a luxurious flat or set of rooms at the top of a tall building."
  21. One think that has shocked me recently is approaches from the Build to Rent funds. they are factoring in rents of £1,400 pm. I can't get my head around this. is it possible people will pay that.
  22. Well it's nor normal to have some quarters positive and some negative. I think, apart from one drop of 0.2% there have been 20 quarters on the trot that were negative. we have not been putting prices up over the last 12 months but both land and build costs have shot up significantly.
  23. That would be my definition of a penthouse, although I haven't built too many. A private lift of your own is nice but you will have no one to share the heavy maintenance costs with.
  24. I have to say 4 bed council houses are not the norm. I have knocked down lots of tiny council houses and their little back yards and replaced them at a ratio of about 6 houses for every 10 that existed. There are many fine examples of housing from the past but I think you will agree the above house is not typical of the council housing in the Markets.
  25. Had a look but it says "SORRY! THIS PROPERTY HAS GONE!" Havn't seen that before so not sure if it has been taken or simply removed
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