Irish Property Market chat II - *read mod note post #1 before posting*

Gael23

Family member just gone Sale Agreed 37k over asking after 10 days on the market in South Wexford

https://www.boards.ie/discussion/comment/118206627#Comment_118206627

People don't seem to want council estates

I would like to see the state providing housing to everybody in a much more affordable level, estates with social housing, cost rental, affordable to buy altogether.

Mad_maxx

https://www.boards.ie/discussion/comment/118206627#Comment_118206627

thats like asking a liberal progressive why gender quotas are important

its an article of faith for them that they are

MacronvFrugals

In the last week we've learned BAE systems (pension fund) and Katie Taylor are leasing gaffs to the councils.

When the ECB talk about "pockets of exuberance" are they actually referring to the Irish state lol

It really seems like there's a tsunami of capital falling over themselves to take advantage of 25-year inflation linked leases.

https://www.businesspost.ie/houses/olympic-star-taylor-leasing-investment-properties-to-dcc-for-social-housing-0dd882ad

Timing belt

https://www.boards.ie/discussion/comment/118206932#Comment_118206932

The conclusion paragraph of the central bank states a different perspective to your conclusion.

wassie

Seems to be the view quite a few Central Banks, including the Federal Reserve earlier this month;

Inflation is elevated, largely reflecting factors that are expected to be transitory. Supply and demand imbalances related to the pandemic and the reopening of the economy have contributed to sizable price increases in some sectors. Overall financial conditions remain accommodative, in part reflecting policy measures to support the economy and the flow of credit to U.S. households and businesses.

And Australia's Reserve Bank;

Inflation has picked up, but in underlying terms is still low, at 2.1 per cent. The headline CPI inflation rate is 3 per cent and is being affected by higher petrol prices, higher prices for newly constructed homes and the disruptions in global supply chains. A further, but only gradual, pick-up in underlying inflation is expected.

Danzy

https://www.boards.ie/discussion/comment/118207240#Comment_118207240

You need to look at the continent to see the financial exuberance.

Here is restrained in comparison.

That's a reflection on the wild approach elsewhere.

Villa05

Some interesting demographic stats in the I. T article written by the BNP employee.

Net migration peaked in 2018, reduced birth rate and increased death rate

New homes beginning to outpace household formation

The Student

https://www.boards.ie/discussion/comment/118205976#Comment_118205976

You refuse to accept what people believe that they don't want to live with or near social housing. Again I will reiterate it is the minority of social housing tenants that destroy it for the majority.

It is also the states unwillingness to deal with said minority.

You have previously posted that you have 500k to spend on a property and do not mind living in working class areas or close to social housing. If you purchase in a traditional working class area then you should be able to purchase a property that meets your requirements and still have funds left over.

I am not sure of the purpose of your continous posting. Other posters have expressed views which you refuse to accept that they differ from yours. You may not agree with them but you seemed determined to argue that your viewpoint is right.

It may be right for you but it's not for others and you just can't accept that.

Amadan Dubh

https://www.boards.ie/discussion/comment/118207467#Comment_118207467

The fact they make no mention of housing shows how utterly lost they are and no one should for one second think our regulators have moved on from '08 and won't let us down again. Too tied to traditional barometers and modelling that is not that useful in the modern era.

Although to be a bit fair to our own central bank; the ECB is really our central bank so our guys in Dublin are just talking heads and data collectors. The real work happens at the level of the ECB.

Amadan Dubh

Maybe there's some sort of conscience between the civil servants at DCC after all. The social housing lease with BAE Systems is being reviewed apparently.

I would still like to see the Davy long term leases investigated by some journalists in the context of the link to Owen Keegan. There is just such a huge volume of Davy entities in long term social housing leases with DCC compared to any other corporate entity that it is a bit peculiar.

https://www.irishtimes.com/news/social-affairs/construction-of-850-dublin-homes-at-oscar-traynor-site-approved-1.4735849

Meanwhile senior council housing officials are to seek legal advice on Tuesday on the proposed lease of social housing from the pension fund of British arms manufacturer BAE Systems.

Councillors on Monday night said they were opposed to the council officials proceeding with an agreement to lease the homes recently purchased by the company. These include a mix of newly-built apartments and houses, as well as refurbished homes on different roads in Kimmage and Crumlin which were snapped up by the pension fund.

Dave Dinnigan, the council’s director of housing delivery acknowledged councillors had concerns and said he believed they were “well meant” he said: “I will be talking to our law agent in the morning on what options are available to us and I will come back to the members with our decision. I don’t want to get into the particulars of that case tonight, but we will be making a decision on this as soon as I’ve talked to the law agent tomorrow.”

https://www.boards.ie/discussion/comment/118208490#Comment_118208490

it is right and they are wrong. Very simple. They just don't have any good reason.

we don't want large social housing estates, we don't want social housing in our private estates. What would you suggest?

Also, not one single person has been able to show anymore chance that your neighbour will be anti social if they are social tenants, then if they are private tenants.

Timing belt

https://www.boards.ie/discussion/comment/118208587#Comment_118208587

The Irish regulators do not set monetary policy it’s the ECB and they are afraid that tightening monetary policy will cause a recession throughout Europe.

Have a read of the latest speech on the topic

https://www.ecb.europa.eu/press/key/date/2021/html/ecb.sp211119~3749d3556c.en.html

The Student

https://www.boards.ie/discussion/comment/118208653#Comment_118208653

You are now just trolling. Multiple posters have highlighted personal experiences of anti social issues in social housing estate and with a minority of social tenants and you refuse to accept people's personal experiences.

You are not getting the answers you want to hear so refuse to accept the answers you are being given.

For this reason I see no point in engaging further with you on this topic as its pointless.

https://www.boards.ie/discussion/comment/118209231#Comment_118209231

I am not refusing, I have no doubt posters have those personal experiences.

There are also many many people who have had the same experience with private tenants. I think the fact that you think it's somehow ok and perfectly justified to tar all people of a certain social background As criminals and anti social deviants, says a lot about you.

Maybe you should listen to the many many posters who have had issues with their neighbours who own their houses? Or rent privately?

So long as there are attitudes like yours in this country we will have a housing problem

The Student

https://www.boards.ie/discussion/comment/118209362#Comment_118209362

I would suggest you read my posts carefully again. You are blinded by your opinion. I said it was the minority of people but sure hey interpet my posts to suit your narrative.

klose

https://www.boards.ie/discussion/comment/118206970#Comment_118206970

"asking price" is a bit meaningless these days, estate agents will list for under the actual valuations to get the ball rolling.

On to that, what standard median income style homes have gone for below or at asking price in the last 18 months? Very few if any I'd imagine.

If you're looking at homes in your area and the asking is 200k I'd say slap 15 on top of it minimum before you get close to getting it, if you go into the housing market thinking you're getting a "good deal" at the moment you're deluded I would say.

mcsean2163

https://www.boards.ie/discussion/comment/118208377#Comment_118208377

Do you have a link to the article?

Gael23

https://www.boards.ie/discussion/comment/118209453#Comment_118209453

There’s not much in the area so we weren’t expecting to get past asking, mostly people live there to commute to bigger areas because houses are affordable

Asking prices are way under the bidding. Presumably estate agents are not taking the lack of supply into consideration.

I viewed a house, normal 3 bed semi, in Blanchardstown, close to the village, a few weeks ago. Wasn't a great house, just an ok house, asking 370,000 i bowed out at 420,000.

There's a house a friend of mine is bidding on in Palmerston, asking 260,000 bidding currently at 320,000 and likely to go higher. Good house, but needs work.

Lack of supply is pushing all houses up and up.

mcsean2163

https://www.boards.ie/discussion/comment/118213353#Comment_118213353

I find you confusing. You keep talking about how you love social housing but seem to be ignoring affordable properties in d15.

Care to explain?

Villa05

https://www.boards.ie/discussion/comment/118211651#Comment_118211651

It's the 1st of 3 linked by Amadan Dubh yesterday

https://www.boards.ie/discussion/comment/118213930#Comment_118213930

I'm not sure what you mean? I look at houses that suit me, and my list of requirements.

There are lots of houses in lots of areas that I don't look at.

Ray Palmer

https://www.boards.ie/discussion/comment/118209362#Comment_118209362

the majority of prisoners in Mountjoy come from 4 council estates in Dublin. It isn't some hazy detail about anti-social behaviour in council estates versus private. You can get anti-social behaviour from anybody but is just a fact the less educated you are the less social responsibility you will have. The less educated the less you earn the more likely you will need social welfare accommodation. These are known things and it doesn't mean all people in these council estates are bad but they have their own social issues. One of the reason for mixed estates it to break up that concentration so peer pressure is balanced out.

I grew up near Coolock, never saw a burnt out car in our estate but when I went to Coolock there were multiple burnt out cars. The flats by Nortside shopping centre regularly had a fire going against the block and people would just add to it by throwing their furniture out. Blach has the highest drop out rate of schools in the entire country. If you don't think this is a result of poor social housing policies then you are ignoring reality.

https://www.boards.ie/discussion/comment/118214748#Comment_118214748

I agree with everything you said. I'm not ignoring anything.

We don't want big council estates, but yet we don't want social housing beside our houses in our private estates. What's the answer?

mcsean2163

https://www.boards.ie/discussion/comment/118214579#Comment_118214579

You keeping banging on about the benefits of social housing but seem to be avoiding social housing areas in Blanchard.

Pot, kettle, black.

https://www.boards.ie/discussion/comment/118214778#Comment_118214778

Don't be ridiculous. I avoid houses in Lucan also, but they're all private.

I saw a house in cabra the other day, is that ok?

What's your point?

Fattybojangles

https://www.boards.ie/discussion/comment/118214786#Comment_118214786

I'd love to live on the planet those fools live on.

Timing belt

https://www.boards.ie/discussion/comment/118214786#Comment_118214786

It’s undervalued based on rental prices in the report. It does doesn’t take into account that the majority in the rental sector can’t get a mortgage because of CBI rules.

iColdFusion

https://www.boards.ie/discussion/comment/118214764#Comment_118214764

Make those people to buy their own houses like everyone else? If they cant afford to buy in Dublin they need to move out to somewhere cheaper like working families have to, why should the taxpayer have to subsidise their housing? Why don't we subsidise housing for nurses instead, they actually contribute to society and have a very tough job?

There is something fundamentally wrong with the system when the economy is booming, massive employment opportunities for good wages but the social housing list keeps getting longer and longer.