Housing Issue

aj1888

Is there any plans for the future to develop new housing estates in Waterford City it seems to me that at the moment supply is very low.

As a first time buyer looking to make a purchase in the next 12 months or so there is not a lot of options out there. At the moment Foxwood seems to be the only development building surely demand is higher than this and would warrant further developments around the city.

If you do a search on daft there is only 260 houses in the city for sale and then that gets a lot smaller as to what is affordable to a first time buyer. I might be wrong but that figure was at least double that not so long ago so houses are selling but to me supply doesn't seem to be keeping up with demand.

cookie.monster

aj1888 wrote: »

Is there any plans for the future to develop new housing estates in Waterford City it seems to me that at the moment supply is very low.

As a first time buyer looking to make a purchase in the next 12 months or so there is not a lot of options out there. At the moment Foxwood seems to be the only development building surely demand is higher than this and would warrant further developments around the city.

If you do a search on daft there is only 260 houses in the city for sale and then that gets a lot smaller as to what is affordable to a first time buyer. I might be wrong but that figure was at least double that not so long ago so houses are selling but to me supply doesn't seem to be keeping up with demand.

mcdonalds have plans to build more houses at the back of kill st lawrence, and kents are building in tramore

endacl

cookie.monster wrote: »

mcdonalds have plans to build more houses at the back of kill st lawrence

Are Burger King up to much in the trade?

cookie.monster

endacl wrote: »

Are Burger King up to much in the trade?

funny how ya say that coz the construction company is R McDonald and sons ltd lol

Jambo

There's a few estates in Ferrybank but unfortunately NAMA is choosing to rent the (available) properties on 20yr social housing leases to housing bodies rather than offering them for open sale to the public, investors or otherwise in order to provide a good return to the tax payer which is what I understand is their remit.

Finnbar01

Jambo wrote: »

There's a few estates in Ferrybank but unfortunately NAMA is choosing to rent the (available) properties on 20yr social housing leases to housing bodies rather than offering them for open sale to the public, investors or otherwise in order to provide a good return to the tax payer which is what I understand is their remit.

How could that be a good return to the taxpayer if the houses are set aside for social housing ?

fuzzy dunlop

Finnbar01 wrote: »

How could that be a good return to the taxpayer if the houses are set aside for social housing ?

I think its called passing the buck.......

alibab

They are not building as it doesn't pay them to build at the cost they are selling at the moment . With the new regulations etc the cost of building has gone up so much that with current sale prices there is little to no profit to be made . Very little for sale out there at the minute . I bought this time last year and there was more then . Because supply was low then for what I was looking for I was out bid in many . Don't know if new mortgage rules have made a difference

Jambo

Finnbar01 wrote: »

How could that be a good return to the taxpayer if the houses are set aside for social housing ?

It's not, in pure simple terms its a government driven agenda being pushed on a area which has almost no facilities or services for the residents, an agenda being pushed on Nama by government just so they can massage / meet their pre election housing figures at the expense of everyone else.

50 Social housing units have been put into Clover Meadows and Aylesbury beside Aldi in recent months , some are premium 4 bed detached houses which had asking prices of 450k+ during the boom, the sale of which could have still produced a reasonable return to the taxpayer should they have been offered for sale even given the current market.

Wanderer78

this whole housing situation is getting damn serious. it aint gonna end well!

wellboytoo

alibab wrote: »

They are not building as it doesn't pay them to build at the cost they are selling at the moment . With the new regulations etc the cost of building has gone up so much that with current sale prices there is little to no profit to be made . Very little for sale out there at the minute . I bought this time last year and there was more then . Because supply was low then for what I was looking for I was out bid in many . Don't know if new mortgage rules have made a difference

This post is the answer, you can buy a house in Waterford cheaper than it costs to build it. Simple as that ,nothing will be built to any great degree until prices increase by at least 10 %.

fiachr_a

Can't you buy a second-hand one?