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Could today's Gas Price increases be the final tipping point for the housing market
m00m00
Posts: 1,755 Forumite
With British Gas (and the others soon to follow) announcing massive increases in bills to come this winter, I feel this is going to have a double edged impact on the housing market. Firstly those struggling to meet repayments at the moment, and currently falling onto the SVR 'trap' will be hit very hard by the increase in their fixed costs, along with the certain general inflationary effects of these rises.
Secondly older people currently sitting on big, expensive to heat old houses, will be more incentivised to downsize to smaller, easier to run properties.
those energy efficiency ratings for the HIPS are going to get ever more important going forward now.
Secondly older people currently sitting on big, expensive to heat old houses, will be more incentivised to downsize to smaller, easier to run properties.
those energy efficiency ratings for the HIPS are going to get ever more important going forward now.
It's a health benefit ...
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Comments
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That's a bit simplistic (wotw).
It will cause house prices to rise and end the crash, IMHO.
People will turn to portable heaters to heat their homes. These are more dangerous than central heating systems and loads of houses will burn to the ground. Supply and demand.
GGThere are 10 types of people in this world. Those who understand binary and those that don't.0 -
I was particularly staggered by the Gas rise news; somehow it felt like a very 'real' bit of bad news, whereas the prophesies of banking collapses, etc. which are really far more significant seem somehow more distant.
More salads and less personal hygiene from now on...0 -
Open fires are the future. I know a tight fisted farmer who has a good wedge in the bank from the sale of 2 barns and he can quite often be seen cutting up the hedge row for some fuel back in the colder months. If a tree goes over he doesn't mess about it's soon cut up and put in the barn. They laugh at us paying through the nose for gas.I came in to this world with nothing and I've still got most of it left. :rolleyes:0
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>those energy efficiency ratings for the HIPS<
Perhaps we will finally get building regulations (and the skilled builders [oxymoron]) to match Scandinavian levels of thermal efficiency in property.
It's high time that Georgian properties with ill-fitting (but Grade II) casement windows were upgraded too with double-glazing.0 -
bo_drinker wrote: »Open fires are the future.
I thought they were woefully inefficient - 30%? Stoves are meant to be much better 65%+0 -
I think it definitely could. We have capped our rates today. At present I pay £105 for gas per month and £95 for electricity per month. When we had our mortgage it was at £1600 per month. If we were still to have it at todays rates it would cost £2800 per month. In addition if we had not capped our rates for gas and elecricity then they could go up another 35%.
Thank goodness we have no mortgage and therefore only have to pay the extra utility costs and petrol costs.
We are just so lucky we have had great jobs with decent earnings. I hate to think how the average familly will manage at the moment.
In short I think it will definitely tip people over the top.0 -
I'd be inclined to gas myself if I could afford it.0
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bo_drinker wrote: »Open fires are the future.
Open fires look very nice but aren't very efficient in heating large areas, ie. all the rooms in your house. There's also small things to consider like the vast majority of properties in the UK are in smokeless zones and also the cost of "fuel" (wood/pellets/corn etc) to put on the fire is substantially more per "chunk" of heat than gas is.
Rob0 -
Properly constructed new houses and flats do use less energy and are actually warmer.amcluesent wrote: »>those energy efficiency ratings for the HIPS<
Perhaps we will finally get building regulations (and the skilled builders [oxymoron]) to match Scandinavian levels of thermal efficiency in property.
There is nothing stopping people who live in period properties in either conservation areas or properties that are listed from using internal secondary glazing in the winter. One of my friend's has it.amcluesent wrote: »It's high time that Georgian properties with ill-fitting (but Grade II) casement windows were upgraded too with double-glazing.
The real issue with old buildings is the lack of insulation in the walls due to their construction.I'm not cynical I'm realistic
(If a link I give opens pop ups I won't know I don't use windows)0 -
Could be the tipping-point for the "forget inflation and slash BoE rates" brigade...0
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