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. 😸