Quitting current PhD programme and impact on future PhD applications.
My thoughts on this:

Stay or Go: You said the following, so just by that, it is a big red flag and it is time to move on.


  My advisor (Who is excellent in his research area) has very little
  knowledge in my research topic and avoids technical discussions with
  me in the group meeting because of this.


Future Applications: Actually I saw many cases like this who doesn't move on quick enough and stay in an unhealthy situation. So it is good that you figure out the situation and want to change that. As long as you can present yourself in an interview with the new supervisor and explain your situation, you should be fine. 

Main Drawback: Obviously the time is a huge issue here. Can you financially take a hit and spend 6 months to a year to find another position?

Alternatives: You can either find another supervisor from the same university or even research group, or you can find a supervisor from your old university were you did graduate for your Bsc/Msc.