Dublin house price rise to instantly rise national prices.

Eldarion

circadian wrote: »

Sadly this trend is making a comeback in Dublin, I've seen houses jump 25k in some areas in the North City after being on the market a few days.

I don't see that happening this time again anywhere outside Dublin though. Cork and Galway might see some bursts but nothing along those lines and it certainly won't happen in the other counties/rural areas.

Dublin is a problem that badly needs addressing and I do see something being done in the near future about it. Whether it stops the madness before it gets worse or too out of control is the real question though.

MouseTail

Eldarion wrote: »

Dublin is a problem that badly needs addressing and I do see something being done in the near future about it. Whether it stops the madness before it gets worse or too out of control is the real question though.

There are straegies and actions in place to address the supply crisis, however due to the nature of the construction sector now, eg shortage of skilled labour, you are looking at at least 3 years before there is a noticeable difference.

Zamboni

A nice simple TV campaign targeting active retirees in Dublin with no mortgage, to sell and relocate and buy a beautiful property in a scenic part of the country.
Play golf, walk on the beach and support locals restaurants and bars.

Help all of us so it would

riclad

Most of the big building companys are bankrupt,
do the banks want to finance new build housing estates?
They might want prices to rise and reduce houses they own that are in negative equity.
.
I don,t think local authority s have to money to build social housing
any more on a large scale .
Ballymun may be the last big project we have in regard to social housing .
They only stopped building in ballymun about a year ago.
There was enough builders to build 1000s of houses, apartments over the last 7 years ,in ballymun.
Many people want to sell, but are locked in by negative equity situation.

TheDriver

riclad wrote: »

Most of the big building companys are bankrupt,
do the banks want to finance new build housing estates?
They might want prices to rise and reduce houses they own that are in negative equity.
.
I don,t think local authority s have to money to build social housing
any more on a large scale .
Ballymun may be the last big project we have in regard to social housing .
They only stopped building in ballymun about a year ago.
There was enough builders to build 1000s of houses, apartments over the last 7 years ,in ballymun.
Many people want to sell, but are locked in by negative equity situation.

This last point is the main thing, people are stuck in neg equity. I was talking to an EA last year who said the number of people who put the house up for sale without considering IF they can afford to sell and that the bank might say no. He said it was frustrating wasting peoples time and his own.

ted1

Zamboni wrote: »

A nice simple TV campaign targeting active retirees in Dublin with no mortgage, to sell and relocate and buy a beautiful property in a scenic part of the country.
Play golf, walk on the beach and support locals restaurants and bars.

Help all of us so it would

The folks were going to do this, large detached house in South dublin, but decided againest this as they would be away from their network of friends and family ( myself and my siblings are all around south dublin)
As they got in latter life being isolated on the countryside wouldn't suit them.
In years to come they may decide that a garden free apartment in the area may suit.

riclad

Maybe the government could bring in some kind of tax incentive,
to encourage people over 50 to move to rural area,s or move into apartments .
Freeing up more houses in dublin ,or other citys .

The Spider

riclad wrote: »

Maybe the government could bring in some kind of tax incentive,
to encourage people over 50 to move to rural area,s or move into apartments .
Freeing up more houses in dublin ,or other citys .

That scheme is already in place, it's called rising prices, besides people over 50 in Dublin may not have family in rural areas unless they had sons or daughters that bought outside in the boom.

All their friends and family are in Dublin, they aint gonna move, but like everything in life, if the price is right they'll sell, unfortunately prices aren't high enough for them to sell now.

Everyone remembers the boom, when the lad down the road sold his semi-d for a million, you may say those prices were out of whack, but people still think of them, and they see prices rising, so ask themselves why would they sell now?

Wouldn't make much difference anyway, if ten thousand retirees decided to sell up over the next 3 years, if 85'000 are required as an outside estimate, in 3 years it'll probably be more.

Nope prices ain't going down.

gaius c

TheDriver wrote: »

This last point is the main thing, people are stuck in neg equity. I was talking to an EA last year who said the number of people who put the house up for sale without considering IF they can afford to sell and that the bank might say no. He said it was frustrating wasting peoples time and his own.

Lots of supply-side restriction/messing going on and it's a big part of why the current market is so warped. An example from this forum.

John_Rambo

Zamboni wrote: »

A nice simple TV campaign targeting active retirees in Dublin with no mortgage, to sell and relocate and buy a beautiful property in a scenic part of the country.
Play golf, walk on the beach and support locals restaurants and bars.

Why would they when they can do just that in Dublin and be close to the city?

ezra_pound

riclad wrote: »

Maybe the government could bring in some kind of tax incentive,
to encourage people over 50 to move to rural area,s or move into apartments .
Freeing up more houses in dublin ,or other citys .

It's called the lpt.

MouseTail

Certainly in terms of the crisis in social housing I would like to see a disincentive for people remaining in houses too big for their needs, such as the bedroom tax in the UK.

Villa05

ezra_pound wrote: »

It's called the lpt.

Have they not put a payment freeze in dublin thus taking away most of that incentive. relatives in england have sold up and bought an apt there and a house here bcos of the empty bedroom tax Seems a much more effective tax and very little whinging and moaning about it like u get here

riclad

Yes i understand ,prices are cheaper ,in say meath, than dublin,
BUT there,s no special tax break for older people in to move outside dublin.
The bedroom tax is a disaster as it hits people with children,
and people on welfare ,the hardest ,
ie it effects people on lower incomes worst.
And reduces their choice re finding a rental property.
IF i was cynical i,d say the banks, nama,
own lots of land ,in dublin.
They have no incentive to encourage building on it ,as this might only serve to stop
prices rising on the 1000,s of houses they own.
And reduce their potential profits in the future.
Nama is there to make a profit,
not to stop house price rises in dublin.

I,M against another new tax,
we are already snowed under with new taxes ,
which is making it hard for the economy to recover.
There s is an incentive for people to move out from large houses,already .

Santa Cruz

Zamboni wrote: »

A nice simple TV campaign targeting active retirees in Dublin with no mortgage, to sell and relocate and buy a beautiful property in a scenic part of the country.
Play golf, walk on the beach and support locals restaurants and bars.

Help all of us so it would

Have you lived in the country in the Winter? Short days, no public lighting, no public transport, miles from decent hospital services, knackers calling to the homes of elderly trying to flog tarmacadam or repair imaginary roof defects, no broadband etc. As for local restaurants and bars, most closed down for the off season. I wouldn't go there if they paid me.

riclad

I lived in a large country ,town,
very quiet, people are friendly,
good pubs, restaurants.hotels, very little crime.
NO theres 10- 20meg broadband,upc,sky fibre ,etc
upc, good train,bus service.2 large hospitals within 2 miles.
I would be happy to live there again.
I could walk ,or cycle every where,
no need for public transport .
PUBS open 7 days a week.
Nothing closes off season.
Most shops or pubs, etc were 20 mins walk away at the most.
3 or 4 supemarkets, aldi,dunnes etc
OF course dublin is a haven ,of peace ,and tranquility.
Theres no crime there,or junkies hanging around , at all.
The gardai have nothing to do apart from checking for out of date tax discs.

There,s plus,es and minus .s on both sides ,
some people may find rural towns , boring, narrow minded,
or limiting,
you can disappear in dublin.
NO one cares what you do .
You have total privacy if thats what you want .

I think we have moved on a bit since the 70s,
your post paints a very bleak picture of rural towns.
Many towns have cable tv,sky tv, and fast broadband.
do abit of research before you move somewhere .
The house,s and gardens in rural area,s tend to bigger ,
than in dublin.
Some might say its a better environment to bring up kids .

asingrang

We were thinking at one stage of selling the family home in Dublin. But we would be going from a 5 bed house on Dublins South side to maybe a 2 or 3 bed, close enough to where we live now anyway.

But the fact is that even downsizing you do not make that much on the difference in price.
Neither of us could even consider the idea of leaving the area we've made a life in, just to have to start again somewhere else.

People have a lot more invested in their local area over time, than just the house they live in. Friends, hobbies, contacts, neighbours, all yer mates in the local at the weekend. Its hard making all of that all over again when you move away.

So what we think we might do when we retire is rent a nice house in a nice area of Spain or France for the 6 winter months, but always come back home for the Summer. Also we could fly home relatively cheaply and stay in our house if we got bored when we tried out that plan.

Might do it for 2 months first and then increase if we like it. Certainly dont think a move to the country in Ireland is worth it though.

riclad

IF you have a 5 bedroom house on the southside,
you have loads of options ,as its worth a lot of money.
Maybe some people could sell the house ,buy a 2 bed apartment ,
in the same area,

ie not everyone has to move to the country ,to put more houses on the market.
I understand some people who live on the southside ,would be reluctant to move anywhere else ,
regardless of the difference in price.
And living in the country does not suit everyone.

Cuddlesworth

ezra_pound wrote: »

It's called the lpt.

Needs to be much higher, the current percentage is pitiful.

asingrang

riclad wrote: »

IF you have a 5 bedroom house on the southside,
you have loads of options ,as its worth a lot of money.
Maybe some people could sell the house ,buy a 2 bed apartment ,
in the same area,

ie not everyone has to move to the country ,to put more houses on the market.
I understand some people who live on the southside ,would be reluctant to move anywhere else ,
regardless of the difference in price.
And living in the country does not suit everyone.

If we went to a 3 bed semi in good nick with a decent sized garden in the same general area, we would pocket about 75k after all the costs. Not worth it. Prefer to stay with the neighbours we have, a nice garden and a detached house.

And besides if we sold our house and bought a 3 bed semi in the area, isnt that taking one of the ones that FTBd are interested in off the market and putting on one that they cant afford instead.

We spent years trying to get out of apartments, why on earth would we move back into one. We also put a lot of blood sweat and tears into getting into a house we wanted retire in and getting it paid off. Moving now would just be throwing away everything we have worked for,