Did you queue to get a new build house

Grawns

Hi

Looking for some information from anyone who has queued before a launch. How does it work? I How early did you start queuing? Did you get the south facing garden house you wanted or were they mysteriously reserved already?

Would appreciate any information or anecdotes

Gumbo

Grawns wrote: »

Hi

Looking for some information from anyone who has queued before a launch. How does it work? I How early did you start queuing? Did you get the south facing garden house you wanted or were they mysteriously reserved already?

Would appreciate any information or anecdotes

Depends where you want to buy.
RCP in Dublin had que's from Friday morning for a Saturday release and they all sold out on the Saturday.

If you want a particular house, you'd be best to study the planning drawings, or the press booklet and be first in que in order to get it.

TheBlock

Back in 2003 I was purchasing a new build. I went to the estate agent 3 days prior to launch and was brought out the back to put a pin in the property I wanted and to pay the deposit. I wasn't the first pin in the map and I believe (due to my messy demeanor at the time) the estate agent mistook me for one of the workers on site.

Might be worth a go.

irlrobins

Started queuing Wed morning for a launch on the Saturday.

We started a list of names amongst ourselves as people joined. Many people worked in relays, swapping with spouses, friends, parents, but general rule of thumb was to have a continuous presence there. Good fun meeting potential new neighbours.

Slept in car on the Wed night, but on the Thursday evening the selling agent issued numbered tickets in the order based on the list of names. Security guard was put in the show house to give tickets to anyone who came to queue after that.

A sensible approach so people didn't have to queue in very cold weather. On the morning of the launch people were called in order to select which property you wanted. So obviously the higher in the queue you were the better your chance of getting the property you wanted. There was about 24+ people going for 10 houses to give you an idea of the demand.

Ginger83

The country has gone mad again.

irlrobins

Ginger83 wrote: »

The country has gone mad again.

Or the reality of short supply and high demand. A need for housing is not madness.

Grawns

irlrobins wrote: »

Started queuing Wed morning for a launch on the Saturday.

We started a list of names amongst ourselves as people joined. Many people worked in relays, swapping with spouses, friends, parents, but general rule of thumb was to have a continuous presence there. Good fun meeting potential new neighbours.

Slept in car on the Wed night, but on the Thursday evening the selling agent issued numbered tickets in the order based on the list of names. Security guard was put in the show house to give tickets to anyone who came to queue after that.

A sensible approach so people didn't have to queue in very cold weather. On the morning of the launch people were called in order to select which property you wanted. So obviously the higher in the queue you were the better your chance of getting the property you wanted. There was about 24+ people going for 10 houses to give you an idea of the demand.

That is very helpful, thank you.

wandatowell

Not surprised this has started again. Not gonna judge it either. People will want the better houses and shortage of builds means that people are gonna compete.

Grawns

irlrobins wrote: »

Or the reality of short supply and high demand. A need for housing is not madness.

It's more to do with aspect from my point of view, if there's 60 houses but only 20 with decent gardens for instance. It's going to be worth your while to get in first.

irlrobins

Yes, I think there a couple of people who said they wouldn't settle for a house with a unfavourable aspect. They'd rather hold out for further phases or other developments than compromise on that. You can make improvements to the property, but you can't reorientate it towards the sun!

Lumen

irlrobins wrote: »

Or the reality of short supply and high demand. A need for housing is not madness.

wandatowell wrote: »

Not surprised this has started again. Not gonna judge it either. People will want the better houses and shortage of builds means that people are gonna compete.

"Short supply and high demand" is an insufficient explanation, because people usually compete in the property market by paying more money, not by forming an orderly line.

So you have to ask yourself whether the queue represents real demand. Why would the developers not just raise the price until the queue shortens?

Porsche have a legendary strategy to maximize profit. They attempt to build one less car than the market demands. Personally I think that's a myth to spread another myth that Porsches keep their value, but that's off-topic

Bandana boy

The people who think queuing for something means the world has gone mad , what would you suggest as an alternative if 11 people want something there is only 10 of?
You really only have queue or open it up to highest bidder and that only drives house prices even more nuts.

Ginger83

irlrobins wrote: »

Or the reality of short supply and high demand. A need for housing is not madness.

There are 182k properties on daft.ie alone for sale across the whole country. Sleeping in cars for a box in Portmarnock is how we got into this mess the last time.

whiskeyman

Ginger83 wrote: »

There are 182k properties on daft.ie alone for sale across the whole country. Sleeping in cars for a box in Portmarnock is how we got into this mess the last time.

High supply of X does not satisfy a high demand of Y...

Bandana boy

Ginger83 wrote: »

There are 182k properties on daft.ie alone for sale across the whole country. Sleeping in cars for a box in Portmarnock is how we got into this mess the last time.

No
Borrowing more than we can afford to pay more for something than it was worth caused the last problem.
Queuing for houses did not contribute one cent to the problem , I am genuinely interested in how you think otherwise .

Ginger83

Bandana boy wrote: »

No
Borrowing more than we can afford to pay more for something than it was worth caused the last problem.
Queuing for houses did not contribute one cent to the problem , I am genuinely interested in how you think otherwise .

Yes it did, it drove the price up due to demand.
I know of one guy in particular who had a deposit on an apartment and was offered €20k to withdraw by another interested buyer.

Lumen

Bandana boy wrote: »

No
Borrowing more than we can afford to pay more for something than it was worth caused the last problem.
Queuing for houses did not contribute one cent to the problem , I am genuinely interested in how you think otherwise .

Queuing for houses is a symptom of madness.

Lots of people could afford to pay before they lost their jobs or their incomes got slashed.

As for worth, housing has very little intrinsic worth. It's value depends on having a mass of people competing to live in it.

This really shouldn't need to be elaborated only a few short years after total housing market implosion.

EricPraline

Ginger83 wrote: »

There are 182k properties on daft.ie alone for sale across the whole country. Sleeping in cars for a box in Portmarnock is how we got into this mess the last time.

But where are they located? Of those 182k, a grand total of 22 properties are currently for sale in Portmarnock on Daft. Location might be rather important if prospective buyers have family, friends, jobs, children in schools etc in that specific area.

izzyflusky

Ginger83 wrote: »

Yes it did, it drove the price up due to demand.
I know of one guy in particular who had a deposit on an apartment and was offered €20k to withdraw by another interested buyer.

How did they even get his details?

lawred2

Bought new in 2015. Not far from where all this hullabaloo was over the weekend in Portmarnock..

There were no overnight queues. And houses took a while to sell. Not the biggest estate either.

I think the adjusted FTB/deposit rules have made some difference. That and the banks lending more.

lawred2

Ginger83 wrote: »

There are 182k properties on daft.ie alone for sale across the whole country. Sleeping in cars for a box in Portmarnock is how we got into this mess the last time.

What sort of point is that? Where are these properties?

whiskeyman

lawred2 wrote: »

I think the adjusted bank rules have made a difference.

Bank rules have...
And don't forget, people have been saving in the background for many years and with the improving economy, many are getting better jobs / salaries / bonuses etc...
It's not out of the realm that demand for such apparent expensive housing is out there now.
Many people who want to live in places like Portmarnock have been holding out years to buy there, and will wait for the right property to come up.

Ginger83

izzyflusky wrote: »

How did they even get his details?

Its amazing what people will do when they're desperate enough for something like camp in cars. It'll turn into an American black friday next, we'll have fist fights over properties.

Spanish Eyes

New house = tax credit. Second hand house = no tax credit.

recyclops

i queued overnight for my house last june. 2 simple reasons why and 1 was not madness.

1.the house was affordable ( for myself and my gf).
2.was near the property we wanted.

We were not the only people in the queue, everyone there was in the same boat and i dont believe any of us paid over the odds for the house, prices ranged from 199,000 for two bed to 260,000 for 4 bed detached i believe.

Now whilst some think even that is excessive, you then need to look at what you want from a house. But for us it was perfect and we happily moved in a few weeks ago.

One thing people need to do is suck it up and realise some houses will be out of there affordable price range and should not stretch to make it to a property, once people continue to do that then the property market should be fine as people can afford to pay a mortgage

ThisRegard

Ginger83 wrote: »

Sleeping in cars for a box in Portmarnock is how we got into this mess the last time.

Drawing down unaffordable mortgages was the biggest problem. Queuing now for a house you can afford relatively easy is not a big issue.

Ginger83

ThisRegard wrote: »

Drawing down unaffordable mortgages was the biggest problem. Queuing now for a house you can afford relatively easy is not a big issue.

So who pays the mortgages after the next crash?

ThisRegard

So you want to do away with mortgages altogether?

Gumbo

Ginger83 wrote: »

So who pays the mortgages after the next crash?

Give us a minute, I'm just routing out the crystal ball from under the stairs.

poeticjustice

Ginger83 wrote: »

So who pays the mortgages after the next crash?

So nobody should get a mortgage? People should continue paying ridiculous rent instead?

Grawns

recyclops wrote: »

i queued overnight for my house last june. 3 simple reasons why and 1 was not madness.

1.the house was affordable ( for myself and my gf).
2.was near the property we wanted.

We were not the only people in the queue, everyone there was in the same boat and i dont believe any of us paid over the odds for the house, prices ranged from 199,000 for two bed to 260,000 for 4 bed detached i believe.

Now whilst some think even that is excessive, you then need to look at what you want from a house. But for us it was perfect and we happily moved in a few weeks ago.

One thing people need to do is suck it up and realise some houses will be out of there affordable price range and should not stretch to make it to a property, once people continue to do that then the property market should be fine as people can afford to pay a mortgage

Again, very helpful. I can afford the house I have my eye on I just don't want to get there and there are none left. 😸

Bandana boy

Lumen wrote: »

Queuing for houses is a symptom of madness.
.

Do you think anybody buying a house ever is madness ?

Assuming No for a moment Surely then buying a house with no queue would suggest you are paying over the market rate and "madness" is buying a house nobody else wants at that price.

The queue is just a method of managing order of purchase it has no intrinsic affect on anything other than that .The fact there is a queue suggests that the price point is below market rates.

Mitten31

I feel like I've stepped back in time to 10 years ago when I read threads like this......4/5 years ago the estate agents couldn't sell anything now we have week long ques. How has it come to this again?

Bandana boy

Ginger83 wrote: »

Yes it did, it drove the price up due to demand.
I know of one guy in particular who had a deposit on an apartment and was offered €20k to withdraw by another interested buyer.

Demand is demand ,Whether people queue , outbid each other or have a melee on day of purchase does not change the demand.

listermint

Mitten31 wrote: »

I feel like I've stepped back in time to 10 years ago when I read threads like this......4/5 years ago the estate agents couldn't sell anything now we have week long ques. How has it come to this again?

Supply and people's rush to get on to the ladder. Queue the same people coming back out indicating the place is 2 small in 2 years time.

Gumbo

listermint wrote: »

Supply and people's rush to get on to the ladder. Queue the same people coming back out indicating the place is 2 small in 2 years time.

The thing is, the new houses been built are bigger and better than what was built 10 years ago. For example, th Belltree development in clongrifffin, not one 2 bed built. All 3 and 4 beds with gardens.

Same goes for RCP iirc.

whiskeyman

Mitten31 wrote: »

.4/5 years ago the estate agents couldn't sell anything now we have week long ques. How has it come to this again?

More availability of credit, but with CB rules.
People have increased savings levels for deposits.
Recent tax credits for FTBs on new builds.
Economy has picked up with better employment / increased salaries - leads to greater demand.

It's been on the cards for a long time now that demand was growing, so no surprise really for queues in areas with high demand.

listermint

kceire wrote: »

The thing is, the new houses been built are bigger and better than what was built 10 years ago. For example, th Belltree development in clongrifffin, not one 2 bed built. All 3 and 4 beds with gardens.

Same goes for RCP iirc.

Tbf they had to be.

Still lack of space both communal and personal greenery is a constant theme

Gumbo

listermint wrote: »

Tbf they had to be.

Still lack of space both communal and personal greenery is a constant theme

We have to offset that with living in the city I suppose. If I wanted more space and more greenery, I'd go to the likes of Ashbourne, ratoath etc
But, cabra is too far away from Finglas for me , never mind Ashbourne!

Viscount Aggro

Looking back to 2007 era - it was obvious house prices were overvalued. I get the same feeling nowadays.
Stick to one of the golden rules of personal finance - never sepnd more than 25% of your disposable income on housing. Ignore what your peers are doing. i am not buying into this "cult" of home ownership at any cost.

kev22185

Queued up myself for a few hours. There was only 3 of the house types I wanted in the development and I’d already spent hours traipsing across the city looking at houses over two years. I'd gone sale agreed on two houses in that time only for the vendors to pull out long after going sale agreed on both occasions so I thought it prudent to get down early and get my pick of the houses. I was second in the queue and we were all given numbers by the security guard. It was all very orderly and well organised. Just as well as people were rocking up and just interrupting conversations with agents etc…

I wouldn’t go getting on a high horse about people queuing when you’ve no idea of the circumstances around it.

Best of luck to the OP on their house hunt.

recyclops

Mitten31 wrote: »

I feel like I've stepped back in time to 10 years ago when I read threads like this......4/5 years ago the estate agents couldn't sell anything now we have week long ques. How has it come to this again?

Just on this my situation was this

moved in with gf mother to help save for a deposit, we didn't want to pay excessive rent to landlord and this really helped.

we found the development we wanted, felt phase 1 was too much of a stretch so we said we would wait, save more and then be in a better position come phase 2, more of deposit, less to borrow etc.

so phase 2 launch gets announced, we have now been saving for close to a year and a half and in a healthy situation financially to buy, we are made aware that people are queuing for the homes and we should do the same. so we head down and queue.

Now this to me was a fairly well thought out and planned process, the queuing up took me by surprise but it was necessary to get what we want.

i am just wondering what you believe is "madness", is it the fact i bought an affordable house i wanted or the fact i queued for an affordable house i wanted?

Grawns

recyclops wrote: »

Just on this my situation was this

moved in with gf mother to help save for a deposit, we didn't want to pay excessive rent to landlord and this really helped.

we found the development we wanted, felt phase 1 was too much of a stretch so we said we would wait, save more and then be in a better position come phase 2, more of deposit, less to borrow etc.

so phase 2 launch gets announced, we have now been saving for close to a year and a half and in a healthy situation financially to buy, we are made aware that people are queuing for the homes and we should do the same. so we head down and queue.

Now this to me was a fairly well thought out and planned process, the queuing up took me by surprise but it was necessary to get what we want.

i am just wondering what you believe is "madness", is it the fact i bought an affordable house i wanted or the fact i queued for an affordable house i wanted?

Congratulations on getting the house you saved for. How long were you queuing for? I am figuring on the night before being enough, at a stretch 24 hours and I don't have a big network of people who are free to help out with the queue.
Everyone is working, and has kids to mind etc.

recyclops

Grawns wrote: »

Congratulations on getting the house you saved for. How long were you queuing for? I am figuring on the night before being enough, at a stretch 24 hours and I don't have a big network of people who are free to help out with the queue.
Everyone is working, and has kids to mind etc.

thanks for that it was worth it, we queued from around 10 the night before, since then another phase has gone on sale in the development emails went out at around 5 on a Friday, people queued from then until 11 the next morning.

goose banker

A development I was interested in announced via email at 17:00 on a Friday evening that the next phase was to go on sale the next morning, Saturday, at 11:00. I went to queue at 19:45 on the Friday evening and was far too late as there were only 57 houses far sale and there were waaay more than 57 people in front of me already. These were bought off the plans, qualified for the 1st time buyers help to buy scheme and were a lot cheaper than the second hand, 25 to 40 year old alternatives available in the area that still need money spent on them when you move in. It wasn't madness to queue overnight, it was economic sense. Most second hand properties in the surrounding 5km radius are dearer, no help to buy scheme, they're crap to be frank at the prices that are being asked.

Grawns

recyclops wrote: »

thanks for that it was worth it, we queued from around 10 the night before, since then another phase has gone on sale in the development emails went out at around 5 on a Friday, people queued from then until 11 the next morning.

Am I right in reading that the emails about the launch were sent the day before?

recyclops

Grawns wrote: »

Am I right in reading that the emails about the launch were sent the day before?

yep 5 pm the night before because of this they were allowing a bank transfer of funds for deposit

goose banker

Yes, in my example the emails went out 18 hours before the sale started. If you weren't at the sales location within 2 hours of that email going out then you didn't get there on time to get a house.

Grawns

goose banker wrote: »

Yes, in my example the emails went out 18 hours before the sale started. If you weren't at the sales location within 2 hours of that email going out then you didn't get there on time to get a house.

That's extreme!

Lumen

goose banker wrote: »

A development I was interested in announced via email at 17:00 on a Friday evening that the next phase was to go on sale the next morning, Saturday, at 11:00. I went to queue at 19:45 on the Friday evening and was far too late as there were only 57 houses far sale and there were waaay more than 57 people in front of me already. These were bought off the plans, qualified for the 1st time buyers help to buy scheme and were a lot cheaper than the second hand, 25 to 40 year old alternatives available in the area that still need money spent on them when you move in. It wasn't madness to queue overnight, it was economic sense. Most second hand properties in the surrounding 5km radius are dearer, no help to buy scheme, they're crap to be frank at the prices that are being asked.

How would you feel if there was no queue? Would you still want to buy?

goose banker

How would you feel if there was no queue? Would you still want to buy?

Not sure what you mean? I went up to buy a house but was too late, why wouldn't I want to buy if there was no queue? The previous houses sold after people slept/camped on the street over night. The only difference having no queue would have made was that it would have made me think I went to the wrong place!

The houses were good value, much cheaper than anything else of similar size in the area -say 5 to 10 km away, A BER rated and need no work done on them, just move in - when they're built that is, they were sold off plans. You could get a 3 bed semi for €265k then get 5% back off with the help to buy scheme if you qualified. Or you could spend €295k on something built c1980, most likely needs a new bathroom, kitchen in a few years, roof felt before long, E BER rating, etc.