Property Market 2018

Pussyhands

Mickiemcfist wrote: »

New houses are cheaper than second hand in most cases I've seen?

The 2nd hand house must be furnished then.

These prices are INSANE

https://www.daft.ie/kildare/houses-for-sale/maynooth/house-type-f-carton-wood-maynooth-kildare-1948387/

Mickiemcfist

Pussyhands wrote: »

The 2nd hand house must be furnished then.

These prices are INSANE

https://www.daft.ie/kildare/houses-for-sale/maynooth/house-type-f-carton-wood-maynooth-kildare-1948387/

Sorry I was speaking specifically about Dublin, even more specifically South County. People seem to be willing to pay a premium to live in an established area.

545k for a house in Maynooth does sound absolutely absurd to me.

Interested Observer

1800+ sqft a train ride from the city centre... Yeah I'm not shocked.

Samuel T. Cogley

174Sqm. Now I know some people seem to think anything less than 200sqm is too small for a couple and a cat but realistically it perfectly reasonable to bring up a family in a 100Sqm house. Plus you have to add the massive premium people will pay for a fresh coat of paint.

Samuel T. Cogley

Are we even at profitability for stuff at the lower end of the market yet? My understanding (albeit perhaps flawed) was that a one bed apartment was the guts of 250K to build.

beauf

The issue is when the kids are still living with you at 20+ starts getting a bit claustrophobic then...

M.Cribben

Mickiemcfist wrote: »

Sorry I was speaking specifically about Dublin, even more specifically South County. People seem to be willing to pay a premium to live in an established area.

545k for a house in Maynooth does sound absolutely absurd to me.

+ they're adjacent to a halting site. I don't think the agents will be advertising that fact in the brochure though! Maybe people are willing to pay a premium to live in a culturally enriched area?

Villa05

JDD wrote:

I actually find someone wishing for a recession as offensive, just so they can have a reasonably priced weekend away or rent an apartment closer to town. You can be sure they kept their job over the past ten years.

Don"t be offended. Recessions exist to correct mismanagement of an economy. What should happen is the powers that be should reflect and implement policies that support sustainable growth into the future

This appears to be where the problem lies. The authorities appear to think that the solution to a crash caused by excessively high house prices is to implement policies that return house prices to excessive heights.

This can only end one way. As with the last crash, the longer the price increases go on the bigger the crash will be when it comes. An early recession would probably spare much greater hurt later on

I find it deeply offensive that our overpaid politicians are following this course of action to the detriment of society as a whole

phunkadelic

Interested Observer wrote: »

They're not about Ireland they're about the OECD/EU.

There's an ESRI paper on this, published in July. The first line of the abstract is "Over the past 30 years, there have been periods of boom and bust, but average household incomes have grown strongly in Ireland".

https://www.google.ie/url?sa=t&source=web&rct=j&url=https://www.esri.ie/pubs/BP201903.pdf&ved=2ahUKEwiC6eObmcXeAhUQAXwKHbCMA0MQFjACegQIBxAB&usg=AOvVaw1Mo7SQha_0XXMDypnHg0Kn

You've no evidence to back up anything you've said do you?

Last I checked, Ireland is part of the OECD. Is it not?
Nice work quoting a paper about the last 30 years. We're not talking the last 30 years though are we? We are talking about the latest 'recovery'.
https://www.irishtimes.com/business/economy/is-ireland-s-booming-economy-just-a-illusion-1.3444645
There may be slight percentage point increases, but not even close to the increases in house prices and rent.

snotboogie

mike_cork wrote: »

The lack of properties to rent in Cork City is scary at the moment. When I go onto Daft.ie for a cursory look at available properties to rent i am shocked at how few are available/how expensive they are/how many views each available property is getting i.e.people desperate to find somewhere.

Absolutely loads in the pipeline though; 800 in Carrigaline, 600 in Glanmire and 200 in Ballincollig all under constructuon. Douglas alone has nearly 1,000 units in the fast track planning, with another two sites with capacity for over 1,000 again on the market. Mahon got planning for 600 units, Glounthane and Sundays Well got planning for 200 units each and the docklands Marquee site sold and has capacity for 1,000 apartments. All of this in a city with a population of just over 200,000. If the economy stays strong and the rampant NIMBYs are kept at bay, the discussion in Cork will start to move away from housing and towards chronic transport congestion.

theboringfox

snotboogie wrote: »

Absolutely loads in the pipeline though; 800 in Carrigaline, 600 in Glanmire and 200 in Ballincollig all under constructuon. Douglas alone has nearly 1,000 units in the fast track planning, with another two sites with capacity for over 1,000 again on the market. Mahon got planning for 600 units, Glounthane and Sundays Well got planning for 200 units each and the docklands Marquee site sold and has capacity for 1,000 apartments. All of this in a city with a population of just over 200,000. If the economy stays strong and the rampant NIMBYs are kept at bay, the discussion in Cork will start to move away from housing and towards chronic transport congestion.

Cork is booming because it's allowing development to happen. What Dublin is doing with it's NIMBYism and BANANAs is madness

Samuel T. Cogley

Okay what's BANANAs?

tigger123

Samuel T. Cogley wrote: »

Okay what's BANANAs?

This **** is bananas.

mike_cork

snotboogie wrote: »

Absolutely loads in the pipeline though; 800 in Carrigaline, 600 in Glanmire and 200 in Ballincollig all under constructuon. Douglas alone has nearly 1,000 units in the fast track planning, with another two sites with capacity for over 1,000 again on the market. Mahon got planning for 600 units, Glounthane and Sundays Well got planning for 200 units each and the docklands Marquee site sold and has capacity for 1,000 apartments. All of this in a city with a population of just over 200,000. If the economy stays strong and the rampant NIMBYs are kept at bay, the discussion in Cork will start to move away from housing and towards chronic transport congestion.

Great points.
I would add that it would be great to see further apartments/houses being built in the city centre to get more people living/working/spending in the city centre.

As you say the transport situation though is dire and an improvement on this front is badly needed.

AlmightyCushion

Samuel T. Cogley wrote: »

Okay what's BANANAs?

Build anything not anywhere near anything?

theboringfox

Samuel T. Cogley wrote: »

Okay what's BANANAs?

Build Absolutely Nothing Anywhere Near Anyone

beauf

theboringfox wrote: »

Cork is booming because it's allowing development to happen. What Dublin is doing with it's NIMBYism and BANANAs is madness

The issue in Dublin is the transport infrastructure can't cope with the new development. The city grinds to a halt in a regular basis.

Amirani

beauf wrote: »

The issue in Dublin is the transport infrastructure can't cope with the new development. The city grinds to a halt in a regular basis.

That's because the NIMBYs block every transport proposal. Metrolink and overhauls of the bus infrastructure being the latest to fall victim.

beauf

There's been a lot of daft proposals.

No surprise they are blocked.

Often calls of NIMBY is to drown out any opposition to corruption or bad planning.

Carlos Orange

Amirani wrote: »

That's because the NIMBYs block every transport proposal. Metrolink and overhauls of the bus infrastructure being the latest to fall victim.

People having an opinion about what happens to where they live. How terrible.

Nobody blocks anything. They object and then some combination of government bodies adjudicate.

tigger123

psinno wrote: »

People having an opinion about what happens to where they live. How terrible.

Nobody blocks anything. They object and then some combination of government bodies adjudicate.

It's political pressure though, that's what swings it. Politicians don't want to disrupt anything in their constituency so they go with what the mob want, which is no more building.

It's all about getting re-elected.

Bluefoam

tigger123 wrote: »

psinno wrote: »

People having an opinion about what happens to where they live. How terrible.

Nobody blocks anything. They object and then some combination of government bodies adjudicate.

It's political pressure though, that's what swings it. Politicians don't want to disrupt anything in their constituency so they go with what the mob want, which is no more building.

It's all about getting re-elected.

Which politicians site on the planning authority?

tigger123

Bluefoam wrote: »

Which politicians site on the planning authority?

https://www.rte.ie/news/ireland/2018/0316/947958-county-councillors-planning/

That's an article from March.

And that's before you consider the soft, in party pressure that would come from sitting Deputies in Government and oppostion to their party brethren in city and county councils.

It's pretty naive to think that local elected representatives can't and dont influence the decisions that are made in their locality.

Not housing related I know, but look at Shane Ross and the reopening of Stepaside Garda station. The station was closed by The Garda Commissioner for operational reasons and reopened within a year of him being elected.

Carlos Orange

tigger123 wrote: »

Politicians don't want to disrupt anything in their constituency so they go with what the mob want, which is no more building.

Democracy isn't a mob.

Pussyhands

There are NIMBYs but it's difficult to know by a headline "local man objects to new housing development" whether it's a NIMBY or someone with relevant concerns.

I know in the town I live people are always complaining about traffic consequences in the town which already has traffic problems. Same with schools etc.

Zenify

Does anyone think the decline in the stock market may have an effect on property prices here? Investors have less capital to bid against first time buyers... or from what I was seeing from buying whole apartment blocks.

Samuel T. Cogley

Zenify wrote: »

Does anyone think the decline in the stock market may have an effect on property prices here? Investors have less capital to bid against first time buyers... or from what I was seeing from buying whole apartment blocks.

Don't know much about investment I have to say but if the stock market is on a downward trend does that not mean they'll look for alternative investments like property?

Pussyhands

Zenify wrote: »

Does anyone think the decline in the stock market may have an effect on property prices here? Investors have less capital to bid against first time buyers... or from what I was seeing from buying whole apartment blocks.

What decline?

Zenify

Yeah I heard an estate agent from the states saying people wanted something tangible and starting buying property at the start of the year over there. I'm not sure if people would be that confident about property here?

This decline:
https://www.google.ie/amp/s/www.irishtimes.com/business/personal-finance/stocktake-investors-bid-good-riddance-to-october-1.3684428?mode=amp

KingCong

tigger123 wrote: »

https://www.rte.ie/news/ireland/2018/0316/947958-county-councillors-planning/
Not housing related I know, but look at Shane Ross and the reopening of Stepaside Garda station. The station was closed by The Garda Commissioner for operational reasons and reopened within a year of him being elected.

Bit off topic but the station still hasn't re-opened and 3 businesses were burgled just this week directly across the road from the (closed) station. I believe that's the second time in a little over a year 2 of these premises have been robbed. There's a clear need for the garda station (also huge population increase in the area over the last few years).

https://lovindublin.com/news/break-in-stepaside-dublin