Property Market 2019

Twenty Grand

ZX7R wrote: »

At least two apartment blocks in Dublin were planned to be like this both had there planning denied

What's the difference between this and a house share?

4ensic15

Twenty Grand wrote: »

What's the difference between this and a house share?

The bedroom in a co-living unit has to be an en-suite. Co-living does not come under the RTB either.

Twenty Grand

4ensic15 wrote: »

The bedroom in a co-living unit has to be an en-suite. Co-living does not come under the RTB either.

Would have thought most new builds would come with en-suite as standard in most rooms.

Reminds me of the student blocks in DCU. Each unit has 2 en-suite bedrooms. One door in the bedroom opens to the kitchen you share with your neighbour, a second door opens to a corridor that leads to a common room you share with your floor.

L1011

ZX7R wrote: »

At least two apartment blocks in Dublin were planned to be like this both had there planning denied

There are also a few actually in operation though - smaller scale, and bigger rooms I believe.

ZX7R

L1011 wrote: »

There are also a few actually in operation though - smaller scale, and bigger rooms I believe.

I didn't know that, but I just can't see how it will work to be honest, Irish people aren't known for sharing there space at the best of times.
Then throw in different cultures and one rotten egg and it's a recipe for disaster .
I hope I will be proved wrong about it in the future.

Eric Cartman

4ensic15 wrote: »

The bedroom in a co-living unit has to be an en-suite. Co-living does not come under the RTB either.

Only reason its being done, our eviction process is crazy long here, that one detail being fixed would correct the banks understandable concern about lending for BTL's

astrofool

ZX7R wrote: »

I didn't know that, but I just can't see how it will work to be honest, Irish people aren't known for sharing there space at the best of times.
Then throw in different cultures and one rotten egg and it's a recipe for disaster .
I hope I will be proved wrong about it in the future.

The nation of the 3bed/1bath(upstairs) has problems sharing?

Eric Cartman

astrofool wrote: »

The nation of the 3bed/1bath(upstairs) has problems sharing?

+1

theres some fierce amount of people who just seem to disregard sharing or treat having to share any room or facility with anyone unbearable torture.

Interested Observer

riclad wrote: »

Theres an article in move sunday times newspaper ,this week
about co living.Buildings with shared kitchen, common spaces, each tenant
gets 1 bedroom.It says if these are popular with investors .it could push
up prices on house,s and apartments as site values will rise.
These will be the new bedsits .It may be cheaper to build a co op living
space than an apartment block, as 5 plus people will be sharing one large kitchen .
So it will be cheaper to build as there will not be 1 kitchen space for each tenant .

I really don't see the problem with this.

4ensic15

Twenty Grand wrote: »

Would have thought most new builds would come with en-suite as standard in most rooms.

.

New builds might have a master en-suite. They certainly wouldn't have every bedroom en suite.

SozBbz

Twenty Grand wrote: »

Would have thought most new builds would come with en-suite as standard in most rooms.

Reminds me of the student blocks in DCU. Each unit has 2 en-suite bedrooms. One door in the bedroom opens to the kitchen you share with your neighbour, a second door opens to a corridor that leads to a common room you share with your floor.

Are you talking about the first year accommodation? Those are tiny!

sweetie

SozBbz wrote: »

Are you talking about the first year accommodation? Those are tiny!

If these are the ones that were there circa 25 years ago, you could still have one heck of a party in them!

ZX7R

astrofool wrote: »

The nation of the 3bed/1bath(upstairs) has problems sharing?

That's why most try to move out and get there own place and space

SozBbz

sweetie wrote: »

If these are the ones that were there circa 25 years ago, you could still have one heck of a party in them!

Oh yeah, good times, don't get me wrong, and its more like 15 years ago in my case :P, but they were pretty old even then. I've great memories of them, but in hindsight they were very poky and you were living at extremely close quarters. I think they were called Larkfield if I remember rightly?

Anyway, as you went through the years at DCU the standard of accomodation definitely improved. There were ones for second year whereby it was more like a 5 bed apartment with shared living rooms and kitchens. By 3rd or 4th year they were pretty impressive, really nice big rooms, all ensuite etc.

I'd have no issue whit accommodation being built like the better DCU accommodation - apartments purpose built for sharing - I think they each had 4 or 5 bed rooms, but each was an equal size, you'd a double bed and a desk and still room to move about, as well as a decent sized ensuite. Shared open plan kitchen and living room. I can see how that would appeal to young professionals.

Mad_maxx

Fan of Netflix wrote: »

Buyers should wait until next year. They'll begging you take their houses for far less than on offer now. Sit tight, save up and watch supply catch up and the no deal brexit + economy slump.

I'd take the other side of that bet, Brexit won't be as bad and prices will rise again, prices might have eased or fallen in Dublin but they are doing nothing of the sort elsewhere

We will begin the third leg up since the bottom inside a year

Leg 1 ( in Dublin, rest of the country bottomed later) was from spring 2012 to end of 2014,we then paused for eighteen months until right around the brexit vote in June 2016, instead of falling after the vote, prices began rising again from autumn 2016 on and rose another 20% since

rireland

The only problem with the co-living examples in Dublin is the price, which is a result of the market.

There was a big ruckus about the plans for the Dun Laoighre one and I saw loads of people mocking the size of them or having to share a kitchen with 7 others or such.

Mad_maxx

FutureGuy wrote: »

I think we have to take each area on it's own merits.

Take limerick for example. Not a lot of new housing stock, and it seems one of the more prominent new builds has ceased building 2 months ago and a second looks like it may be following suit.

We are also seeing a lot of investment from US and International firms who seem to be happy to set up and expand here in the shadow of Brexit.

I can't really see a hit on second-hand prices any time soon, particularly if the help to buy scheme is not renewed.

Limerick is a market I know very well, Limerick is unusual in that it bottomed two full years after Cork and Galway, never mind Dublin

Prices only began to move properly in Limerick in the second half of 2016, as recent as three years ago, it was 40% cheaper to rent or buy than Galway which made no sense, Limerick right now is booming and is every bit as expensive to rent as Galway and no more than 10% cheaper to buy

Limerick is not going to get any cheaper bar a major iceberg, it was far too cheap for far too long and it's not like there was an over supply of property four years ago either

Limerick was the steal of the century in an Irish context in that it was cheap even when money was available, Dublin was for nothing in 2012 but no credit worth talking about, the one drawback to Limerick was that it being a small place, the local auctioneers done their best to ensure quality property wasn't sold cheap to those outside the loop

rireland

Mike Ashley plans to buy up the whole high street in the UK in a bid to drive down rents. The plan is to threaten to shut down all businesses on a street if they don't reduce rates so he has leverage.

I wonder if all these reits and funds buying all these places will keep rents artificially high.

These funds can afford to keep a place empty until someone meets the price whereas a normal landlord will reduce their price to get an income.

Sheeps

The Central Bank seem to be warning now that a hard Brexit will lower the price of property, where before there was speculation that it could result in an increase in prices as funding dries up in the construction sector. Interesting times ahead.

https://www.irishtimes.com/business/economy/irish-house-prices-may-be-hit-by-a-hard-brexit-central-bank-warns-1.3953908

beauf

Sheeps wrote: »

The Central Bank seem to be warning now that a hard Brexit will lower the price of property, where before there was speculation that it could result in an increase in prices as funding dries up in the construction sector. Interesting times ahead.

https://www.irishtimes.com/business/economy/irish-house-prices-may-be-hit-by-a-hard-brexit-central-bank-warns-1.3953908

Both might happen. Funding dries up, supply dries up.

Roulette to be honest. Anything could happen.

Fan of Netflix

Sheeps wrote: »

The Central Bank seem to be warning now that a hard Brexit will lower the price of property, where before there was speculation that it could result in an increase in prices as funding dries up in the construction sector. Interesting times ahead.

https://www.irishtimes.com/business/economy/irish-house-prices-may-be-hit-by-a-hard-brexit-central-bank-warns-1.3953908

Well, well, well. I've been saying so for quit a while. But the usual suspects here thought the party would never end. Buying overpriced poor quality houses with monopoly money.

Butterface

Fan of Netflix wrote: »

Well, well, well. I've been saying so for quit a while. But the usual suspects here thought the party would never end. Buying overpriced poor quality houses with monopoly money.

Yeah I was just thinking to myself that Fan of Netflix has been saying that for quite a while.. since May 2019 in fact. :cool:

The Student

beauf wrote: »

Both might happen. Funding dries up, supply dries up.

Roulette to be honest. Anything could happen.

I suspect you are right. The cost of building will increase as we import a lot of supplies from the UK for construction. These will no doubt be subject to tariffs which will increase the cost of materials and thereby the cost of building.

If the Central Bank rules are maintained then it will even less attractive for developers to develop the land they have so property supply will not increase.

There is speculation that the Cuckoo funds might sell up and go if there is a risk that property prices will fall. I personally am not so sure on this, these funds don't normally sell to individuals rather they sell on to institutional investors. As such the availability of property to purchase by individuals will not increase.

Ush1

Sheeps wrote: »

The Central Bank seem to be warning now that a hard Brexit will lower the price of property, where before there was speculation that it could result in an increase in prices as funding dries up in the construction sector. Interesting times ahead.

https://www.irishtimes.com/business/economy/irish-house-prices-may-be-hit-by-a-hard-brexit-central-bank-warns-1.3953908

If funding dries up, jobs dry up also. Sounds like the economy overall will be taking a dip.

ZX7R

The Student wrote: »

I suspect you are right. The cost of building will increase as we import a lot of supplies from the UK for construction. These will no doubt be subject to tariffs which will increase the cost of materials and thereby the cost of building.

If the Central Bank rules are maintained then it will even less attractive for developers to develop the land they have so property supply will not increase.

There is speculation that the Cuckoo funds might sell up and go if there is a risk that property prices will fall. I personally am not so sure on this, these funds don't normally sell to individuals rather they sell on to institutional investors. As such the availability of property to purchase by individuals will not increase.

Uk import more construction materials from us than we do from them would you believe.
Proper percentage can be found on the UK government website

The Student

ZX7R wrote: »

Uk import more construction materials from us than we do from them would you believe.
Proper percentage can be found on the UK government website

Might result in a decrease in construction in both Ireland and the UK so.

Twenty Grand

The Student wrote: »

Might result in a decrease in construction in both Ireland and the UK so.

Possibly, but we can always switch to continental suppliers, provided theres a ferry capacity.

The Student

Twenty Grand wrote: »

Possibly, but we can always switch to continental suppliers, provided theres a ferry capacity.

The current costs will still rise otherwise we would have been purchasing from continental suppliers all along. The increase in costs would still be lower than the increase in costs from UK if tariffs are imposed.

ZX7R

The Student wrote: »

The current costs will still rise otherwise we would have been purchasing from continental suppliers all along. The increase in costs would still be lower than the increase in costs from UK if tariffs are imposed.

Not really we will just import from main land eu , with help in subsidy and tax breaks for the government

voluntary

In case of any large job losses there will be no need to build any more and therefore no more pressure on material and labor costs. When economy retreats property prices retreat, is that not obvious?

These are just risks for now, whether they materialise or not is up to speculation. I wouldn't be too pesimistic just yet. I wouldn't be overly optimistic either. Today is not the best time to get a massive debt on your neck. Be reasonable when buying.