Dumping Ground of Ireland

giles lynchwood

www.rte.ie/news/2013/1111/485871-rent-rises/
Rents riseing everywhere except Waterford,this cannot be good for our image nationwide.Is it because there are so many slum type appartment blocks between the glen and the quay due to more bad planning decisions by our (imho) totally inept city council.Can anyone throw some light on the reason for this trend.

Taxburden carrier

Most expenditure appears to go to the "Viking triangle" and the quay "improvements". Not much left to go around after that.

Dum_Dum

There's plenty of ugly places in the world with high rents. It's the complete and utter lack of jobs that's the problem.

The Hill Billy

Sweet sufferin' Jaysus! If rents were rising it'd be all "We've no effin' jobs, Waterford is in an economic crisis & now they are pushing up our rents!"

I'm baffled, really...

Smiley Burnett

loads of apartments in Waterford??? Never!!!....please note the sacracsm!!! Now ye know why every developer in Waterford threw money at martin Cullen's re-election camapaign in 2002!!...he was great for the city you know

Cabaal

I'm confused, if rents were going up you'd be posting here complaining about the high cost of rents and how this affects people's ability to live in Waterford or operate a business. You can't have it both ways here.

Rents represent supply and demand, if there isn't demand then they'll be lower then an area with high rents. So of course rent is going to be lower.

mike65

Rental Accommodation in Waterford remains plentiful and affordable as people in Dublin are driven out, could be a selling point for this city if you ask me!

Max Powers

Giles, you could have used a better title (dumping ground is a horrible image) but yes i get (and agree with) your sentiment on the waves of disappointing news and data. Its a struggle to try to be positive in this environment. rents dropping not a bad thing but the reason they are dropping (lack of jobs) is a very real and a very bad thing. Where are our reps? Paudie might reckon he is ok as he has a few thousand votes in the bag with new fire station in portlaw, deasy ditto dungarvan....all in all they have been an embarassment.

giles lynchwood

A major concern of mine is with less rent comming in for landlords they will be less inclined to spend money on maintenence,if you drive down Barker street and look at the apartments on the left they are a disgrace,as I live nearby I can tell you that the building has not been painted since the day it was built and all the ground floor apartments are riddled with damp,and an element of unsavoury types,I hope this does not become the norm in Irelands oldest city.

hardybuck

Basically what's happening in Dublin anyway is that there is a lack of family homes, 3-4 beds. People are feeling confident about buying homes again, and a little more certain about their job prospects/the economy. We're also in the middle of a baby boom. If you want to rent or buy 3-4 bed, you're nearly going back to the pre-recession ways of queing outside for viewings.

Apartments aren't selling, but they are a popular rental option with the large numbers in the 20/30's age group who can't afford to buy. Also, because groups of single professionals are finding it more difficult to get 3-4 bed homes, they are being pushed into 1-2 bed apartments instead.

Most of the established areas of Dublin are already fully developed, and the construction of apartments now is back up and running. You can see that new houses are starting to pop up again in commuter towns.

However, a huge amount of people are now in arrears on their mortgages. A large amount of these are investment properties. It's only a matter of time before banks start to repossess the investment properties, and some family homes, in greater numbers, which should help to ease some of the supply issues which are present currently.

Waterford isn't suffering the same increases as young professionals and young families haven't been able to locate themselves there for work. I'd love to get a stat for the amount of people in the 18-35 age group who've left Waterford in the last five years. I can't see these people returning in any great numbers in the medium term at least, and until they do Waterford's property market will not recover.

Max Powers

hardybuck wrote: »

Basically what's happening in Dublin anyway is that there is a lack of family homes, 3-4 beds. People are feeling confident about buying homes again, and a little more certain about their job prospects/the economy. We're also in the middle of a baby boom. If you want to rent or buy 3-4 bed, you're nearly going back to the pre-recession ways of queing outside for viewings.

Apartments aren't selling, but they are a popular rental option with the large numbers in the 20/30's age group who can't afford to buy. Also, because groups of single professionals are finding it more difficult to get 3-4 bed homes, they are being pushed into 1-2 bed apartments instead.

Most of the established areas of Dublin are already fully developed, and the construction of apartments now is back up and running. You can see that new houses are starting to pop up again in commuter towns.

However, a huge amount of people are now in arrears on their mortgages. A large amount of these are investment properties. It's only a matter of time before banks start to repossess the investment properties, and some family homes, in greater numbers, which should help to ease some of the supply issues which are present currently.

Waterford isn't suffering the same increases as young professionals and young families haven't been able to locate themselves there for work. I'd love to get a stat for the amount of people in the 18-35 age group who've left Waterford in the last five years. I can't see these people returning in any great numbers in the medium term at least, and until they do Waterford's property market will not recover.

you would be doing well to get it. I think the CSO even if they collected such data would be stopped by the govt from releasing it. Just look at the vague stats/crap they spout out about falling unemployment, little to no mention of emigration on stats, unemployment black spots etc.