Queue to buy houses

TheDriver

http://www.rte.ie/news/2014/0903/641302-house-hunters/

Oh My God, I never thought I would see this happening again in my lifetime! Brings me back to the days...........

Thoie

I'm hoping they're shills for development company. Didn't watch the video - were the people interviewed? Did they seem like real people?

NightOfTheHunt

Thoie wrote: »

I'm hoping they're shills for development company. Didn't watch the video - were the people interviewed? Did they seem like real people?

One of them is 23 years old and working in retail, with €30k saved for the deposit and €250k mortgage offer on the table.

How dare you question the authenticity of these people!

Thoie

NightOfTheHunt wrote: »

One of them is 23 years old and working in retail, with €30k saved for the deposit and €250k mortgage offer on the table.

How dare you question the authenticity of these people!

Based on the 3.5 times your salary (is that a thing?), I'm in the wrong job. Unless...

♫Her name was Lola...♫

jay-me

Based on the fact renting a shoddy bedsit has soared to 650 a month and beyond I am not in the least surprised! Even if you got a house to rent out you would do well! Landlords in this country would make you sick!

Ipso

NightOfTheHunt wrote: »

One of them is 23 years old and working in retail, with €30k saved for the deposit and €250k mortgage offer on the table.

How dare you question the authenticity of these people!

Where's their NAMA?

davo10

Queues are not necessarily because houses are nice nor good value, they are because they are for sale and right now what is rare is desirable.

jay-me wrote: »

Based on the fact renting a shoddy bedsit has soared to 650 a month and beyond I am not in the least surprised! Even if you got a house to rent out you would do well! Landlords in this country would make you sick!

Landlords can only put rent up to market rate, if there are a lot of tenants vying for each property, it would be ridiculous not to expect the rent to be set at that rate. You may be sick, but if you move a side just a little, the people coming in behind you want to rent the property.

the groutch

taken from another website's article

he houses, 45 of which are three beds, have been built to strict new building guidelines, and as a result are bigger (1,280sq ft) than the average built during the boom, and all come with high A3 energy ratings. The prices of the properties are fixed and will be between €280,000 and €290,000 for three beds

if there are anyway big queues, I'd expect the sellers to add another 100k to the price by Saturday.
and the fools will pay it too.

Elessar

Couldn't believe it myself when I saw the news. Though Swords is a high demand area in general and has (or had) the fastest growing town population in the country. There are a good few multinationals here and it's close to the M1/M50 so a perfect urban town for many people. And then there's the airport just down the road, which is a huge local employer.

Combine this with the shortage of houses and complete lack of new homes being built in the area and you have what we see here. Celtic Tiger? I'm not so sure...

zl1whqvjs75cdy

Lack of supply yet again driving the Dublin market. Enda et al. would want to pull the finger out here and start stimulating the construction sector in Dublin in particular. More people working, more stamp duty, more property tax etc. Win win. Our economy should not be judged on how expensive a 3 bed semi in D4 costs, although the media and the government seem convinced that that is the key performance indicator of growth at the moment.

seamus

One would wonder if someone has fronted up a bit of cash to these people. €500 to park outside a development for week? Grand job. Get a journo down there to light the fire and then watch the name of the development and the developer get splashed all over the news. Hey presto, prices go up.

Dublin isn't that short on property yet that queueing up is necessary.

Sunny Dayz

How can they queue up all week? I know one person said she is taking it in turns with her fiancé, but the rest of them? Have they not got a job to go to? Did they take a few days annual leave to queue up to look at a house??

Heisenberg.

This post has been deleted.

EricPraline

My initial reaction is as above. But looking more closely, it appears that only a handful of people are queueing for 60 houses. It looked like 6 people in the footage. Hardly back to the Tiger days when desperate queueing buyers completely outnumbered the properties available.

In other words this is a non-story, which curiously seems to be receiving a considerable amount of frenzied coverage in the media.

Ronan|Raven

seamus wrote: »

One would wonder if someone has fronted up a bit of cash to these people. €500 to park outside a development for week? Grand job. Get a journo down there to light the fire and then watch the name of the development and the developer get splashed all over the news. Hey presto, prices go up.

Dublin isn't that short on property yet that queueing up is necessary.

There were people sleeping in their cars overnight for the latest development near Aikens Village in Stepaside. This was around 6 months ago.. pure madness!

seamus

Sunny Dayz wrote: »

How can they queue up all week? I know one person said she is taking it in turns with her fiancé, but the rest of them? Have they not got a job to go to? Did they take a few days annual leave to queue up to look at a house??

*cough*

seamus wrote: »

One would wonder if someone has fronted up a bit of cash to these people. €500 to park outside a development for week? Grand job.

Brego888

seamus wrote: »

Dublin isn't that short on property yet that queueing up is necessary.

Clearly it is and has been for some time now. Especially where new good quality houses are concerned.

Sunny Dayz

EricPraline wrote: »

My initial reaction is as above. But looking more closely, it appears that only a handful of people are queueing for 60 houses. It looked like 6 people in the footage. Hardly back to the Tiger days when desperate queueing buyers completely outnumbered the properties available.

In other words this is a non-story, which curiously seems to be receiving a considerable amount of frenzied coverage in the media.

I would imagine, as I think someone else has suggested above, they have been given a little sweetener by the developer or the estate agent to create a bit of hype and frenzy over these houses.


Another thing I noticed it that the potential buyers queuing are actually quite young IMO. Early 20's. Me & hubbie considered ourselves lucky to be first time buyers last year being late 20's/early 30's and being largely in full time employment throughout the recession so far (touch wood!). Did we do it wrong?!

Saint Sonner

Hypothetically speaking - If you were to rent out one of the two bedroom houses how much would you expect to get in rent?

quadrifoglio verde

Saint Sonner wrote: »

Hypothetically speaking - If you were to rent out one of the two bedroom houses how much would you expect to get in rent?

450 at the moment. Maybe 500

Saint Sonner

quadrifoglio verde wrote: »

450 at the moment. Maybe 500

??? Per week I take it?

drumswan

quadrifoglio verde wrote: »

450 at the moment. Maybe 500

What?

quadrifoglio verde

Saint Sonner wrote: »

??? Per week I take it?

Per month. And looking at it there, 400 would actually be more like it for a double room.

Saint Sonner

quadrifoglio verde wrote: »

Per month. And looking at it there, 400 would actually be more like it for a double room.

I'm confused!!!! What are you on about?

drumswan

2 bed properties are renting for 1200 a month in Swords, not 400...

endacl

These houses? Do they come with decking, or would I have to sort that out later?

Saint Sonner

drumswan wrote: »

2 bed properties are renting for 1200 a month in Swords, not 400...

Yeah sounds more like it - And if the standard and the interest in these are as stated you could probably increase that by €200 per month?

Reg_hurley

Saint Sonner wrote: »

I'm confused!!!! What are you on about?

quadrifoglio verde is talking about renting a bedroom and you're talking about renting the full house.

zl1whqvjs75cdy

You'd wonder how heavily the Irish media outlets are invested in the Irish property market? They seem to do their best to fan the flames whenever possible. Me thinks their pension plans are heavily skewed towards Irish property.

EunanMac

endacl wrote: »

These houses? Do they come with decking, or would I have to sort that out later?

I think they come with a free patio heater if you buy today

endacl

EunanMac wrote: »

I think they come with a free patio heater if you buy today

I'm in so!

EunanMac

endacl wrote: »

I'm in so!

Good decision, you need to get on our property ladder. Now we just need you sign a 100% mortgage and get your parents to sign as guarantors. Would you like a new car with that as well ?

All the ballsy people are buying property these days.

Thoie

EunanMac wrote: »

I think they come with a free patio heater if you buy today

endacl wrote: »

I'm in so!

I've always wanted a patio heater! endacl - I'll race you to the queue!

superman28

The houses are built to a half decent standard.. with a BER rating of A3 and 1200 sq feet.

I still wouldn't touch one with a ten foot barge poll...and queueing OVERNIGHT to view a house is a sad reflection of the distorted and controlled housing market in Dublin.. but good luck to them..

Ush1

If there is only 6 people and 60 houses available, why are they bothering queuing at all?

EunanMac

superman28 wrote: »

The houses are built to a half decent standard.. with a BER rating of A3 and 1200 sq feet.

I still wouldn't touch one with a ten foot barge poll...and queueing OVERNIGHT to view a house is a sad reflection of the distorted and controlled housing market in Dublin.. but good luck to them..

That would depend on who is certifying said houses. He who pays the piper calls the tune.
We've been there before as well.

Interestingly NAMA are the ones giving Gerry Gannon the money for this project.

Get your property supplements and recycle bins ready. Heavy 'news'papers are back.

gaius c

superman28 wrote: »

The houses are built to a half decent standard.. with a BER rating of A3 and 1200 sq feet.

I still wouldn't touch one with a ten foot barge poll...and queueing OVERNIGHT to view a house is a sad reflection of the distorted and controlled housing market in Dublin.. but good luck to them..

A3 is actually the legal minimum for new houses nowadays.

jmayo

It's nice to know "poor" old gerry gannon is still in business.
And this is after he was one of the Maple 10 and it is believed he had transferred over 12m in assets to the missus in 2009.

Can someone remind me how much has he cost the Irish taxpayer ?

Oh wait shure isn't he going to repay his debts to NAMA by getting NAMA to fund his developments.

BTW I wonder has anyone noticed that the land that got planning permission for a Islamic centre in Clongriffin is owned by NAMA and gerry gannon.
And the bould mr gannon gave his consent to the "Dublin Welfare Society" to make the application for the development on his land.

EunanMac

In case anyone has forgotten who the developer of this project is :

From wiki

Gerry Gannon, so-called 'man in the hat', is an Irish builder and property developer since the 1980s. Gannon plays a significant and leading role in the build-up and demise of the Irish property bubble. Gannon was at the center of the Anglo Irish Bank hidden loans controversy, which is a contributing element in the development for the 2008–2011 Irish banking crisis.

he 'Maple 10', also known as the Anglo 10 or the Golden Circle, was a group of Irish investors. The Maple 10 besides Gerry Gannon include Jackson O'Sullivan, John McCabe, Paddy McKillen, Jerry Conlan, Joe O’Reilly, Patrick Kearney, Brian O’Farrell, Gerry Maguire and Sean Reilly.

The Irish Office of the Director of Public Prosecutions (DPP) 'examined the file' on Anglo's "Maple 10" deals.

As reported by the Irish Independent newspapers on February 20, 2011, "a portfolio of properties worth about €12m was transferred into the name of developer Gerry Gannon's wife, Margaret, between 21 May and 10 December 2009".

Now NAMA is giving him the money to build these houses and RTE is acting as his estate agent

Isn't it lovely to see where your new water charges are going.

EunanMac

The next news will be that Lord Ballsbridge will be coming home

Grandpa Hassan

jay-me wrote: »

Based on the fact renting a shoddy bedsit has soared to 650 a month and beyond I am not in the least surprised! Even if you got a house to rent out you would do well! Landlords in this country would make you sick!

How is this the landlord's fault?

EunanMac

EunanMac wrote: »

Good decision, you need to get on our property ladder. Now we just need you sign a 100% mortgage and get your parents to sign as guarantors. Would you like a new car with that as well ?

All the ballsy people are buying property these days.

There are no 100% mortgages available today.

Eric Cartman

mariaalice wrote: »

There are no 100% mortgages available today.

Soon, the ink is probably still wet on the forms

Eric Cartman

Eric Cartman wrote: »

Soon, the ink is probably still wet on the forms

If that happens we are doomed, but I don't think it will. I am intrigued with all the post about 100% morgages, patio heaters, getting the deposit from the credit union( which you wont because of the ICB ) and very little posts about the increase in employment and gasp! some people can acutely budget and save for a deposit, and as someone pointed out its 6 people queuing.

dudara

Having to queue is terrible though. Whoever is in charge should do some form of pre-vetting and allocate numbers to interested parties. Then you just show up on the day according to your slot. But that wouldn't gather so much publicity would it?

seamus

mariaalice wrote: »

There are no 100% mortgages available today.

Well.....technically that's not true. All of the lenders are offering negative equity mortgages which allow 100%+ mortgages on a property.

But you're right that 100% mortgages are not available as a general retail product.

moxin

Look at their ages though, 23, 22, 27, and 20. Very young to have the ability to meet the lending criteria to afford a 240k minimum 2bed house in that estate, although they are couples. Anyone else suspect 35 year mortgages? (Banks still offer them)

http://www.independent.ie/business/personal-finance/property-mortgages/firsttime-buyers-queue-for-five-days-in-bid-for-homes-30560868.html
http://www.independent.ie/business/personal-finance/property-mortgages/house-hunters-queuing-for-five-days-before-new-homes-go-on-sale-30559705.html

Two-bed townhouses are €240,000, while the three-beds, of which there are 45, are between €280,000 and €290,000. Nine 149sq m (1,600sq ft) detached four-beds, all on corner sites, are priced at €400,000

quadrifoglio verde

Saint Sonner wrote: »

I'm confused!!!! What are you on about?

Sorry I read your initial question as how much one one room rented in one of the two beds go for with the other occupied by the owner under rent a room. Apologies

handlemaster

http://www.rte.ie/news/player/2014/0904/20643488-hopeful-housebuyers-queue-for-new-homes/

http://www.rte.ie/news/player/2014/0904/20643613-are-we-experiencing-a-house-bubble/

NightOfTheHunt

Tv3 lunchtime news covered the story just now and interviewed some of the people queuing

might be up on their tv3 player soon...

BeerSteakBirds

jay-me wrote: »

Based on the fact renting a shoddy bedsit has soared to 650 a month and beyond I am not in the least surprised! Even if you got a house to rent out you would do well! Landlords in this country would make you sick!

Price gouging rents are explained very well. Unlike other rental markets such as Germany there is a cartel operating and no rent regulation. Official Ireland is setting prices with a nod and a wink and trying to subjugate the renting class of people who form the backbone of the economy.

How can we regulate the cost of a mobile phone, landline (water charges?) etc and then turn around tell Vodafone et al that they cant charge above a certain amount for roaming data etc and we cant regulate something as basic to life as having a roof over your head ? There is no lack of supply. The country is awash with empty properties even in the city centre. I know Dublin inside out. The issue is that landlords are refusing to lower their prices to the market level. It's a cartel with government backing.
If you search properly you can get much lower than the rents advertised ''officially'' by official Ireland. I know people with ridiculously cheap rents and for commercial buildings in prime city centre locations they even got rent holidays and long leases for commercial buildings which are at lower rents than the rent of a house in the suburbs.



A fool and his money are soon parted. The smart money wont take out an article in the national newspapers. And you cant fix a market for any length of time without trouble. Pyramid schemes dont work. El stupido in his deckchair will be left holding the hot potato and nobody to pass it to. However Irish people are not that dense are they ? This has got to be the work of shills the same way they pay teens to camp outside the gigs of newly formed boybands who havent even played one gig yet. This is just a short term money grabbing con which will create more bankruptcies and wage slaves.
Remember what happened when Ireland and the UK tried to fix the price of their currencies in the ERM early 90s ? Soros and hedge funds tore the ass out of the exchequer in both cases. You cant beat the market. Anyone who thinks you can is frankly delusional, a dumbass or a liar.