Property Market 2018

I just checked the new homes section in Daft without adding any price bracket or specific areas in Dublin, the asking prices are astronomical, we are talking 700K plus for the majority of houses.

There is a housing crisis in Ireland, the hard working people aren't looking for a 700K+ house, they are looking for affordable houses/apartments. Why can they not be built instead?

The vast majority of potential buyers will pay between 180K to 350K for a 1, 2 or 3 bed apartment within 15 to 20KM to Dublin city center, why these type of apartments aren't being built?

Long is gone the time when big houses were a priority. Nowadays, based on my circle of friends/family, buyers no longer want a big house and a 35 years long mortgage. They want a small house, cheaper/shorter mortgage to repay and travel abroad/enjoy their life.

Samuel T. Cogley wrote: »

The profitability of such developments is questionable. What isn't questionable is developers will make much more plonking 150+SqM houses down in desirable locations, on plots barely large enough for the house and postage stamp garden and selling at astronomical prices to people trading up.

Your point is very valid, developers will look for profitability as they run a business and thus look for a maximum profit.
My comments were more for the government. They will announce that 20K plus houses were built and pretend that their job is done, but if the vast majority of these houses are worth 700K+ then the housing crisis isn't resolved.
There is a need to find a balance and build both expensive and affordable housing instead of throwing the tax payer money in that ridiculous first buyer help scheme that did nothing but increase the price of both new and second hand houses.

alwald wrote: »

They will announce that 20K plus houses were built and pretend that their job is done, but if the vast majority of these houses are worth 700K+ then the housing crisis isn't resolved.

The vast majority are not 700k+, in fact it's the opposite. 194 results on Daft up to 700k, 24 results over 700k, for new homes in Dublin + commuter towns.

Samuel T. Cogley wrote: »

Where you both checking new homes? I've not seen many new homes come on stream at anything like affordable prices.

Yeah there's an option to check a box for new homes on Daft, which I was doing.

I don't mean to be smart but the reason for those 700k houses is there's profit to be made on them and people are willing to pay that in particular areas. I also don't agree people are mostly looking for small places at the moment, as that doesn't especially suit couples looking to start a family.

Marius34 wrote: »

I just took data from property price register, and divided into the price range for New properties sold for 2018 for County Dublin:
Only 6.4% was properties over 700K.

Upto200 74
200To300 462
300To400 377
400To500 298
500To600 116
600To700 92
From700 96

Ppr lists new build prices ex VAT of 13.5%. Did you include the 13.5% in your figures?

Including VAT it would be 10.8% of New properties were sold over 700K.

Upto200 59
200To300 238
300To400 483
400To500 306
500To600 170
600To700 90
From700 163

Henbabani wrote: »

i read it on one of the websites - Ireland have an apartment crisis and not housing crisis, there's no chance to build every year 20-25K in Dublin because there's no land for that in the long term. they have to change the 6 storey rule and start build up and fast, at least 8-10 storey, even in the suburbs. i live in Carrickmines manor and recently big project in Kilternan has refused because they want to build a 6 storey buildings in an area of Detached houses, this solution maybe can help to tackle the crisis.

Yes I presume you are referring to David McWilliams’ opinion piece a few weeks ago and he’s right.

But there are still 2 problem with this:
- it is still very strong in Irish mentality that a proper home has to be a house
- if we want them to be seen as suitable long term homes, we also need to redefine what apartments are, i.e. increase storage, include way more 3 and 4 bedrooms apartments in developments, etc (and also plan properly to build proper high density neighbourhoods with good public transports, shops, and public services and not just dump an apartment block where we would otherwise built a few houses)

beauf wrote: »

I don't believe that.



http://www.thejournal.ie/house-price-increase-report-daft-3928615-Apr2018/

I can find apartments for under 300k in decent areas and within 15k of the city center.

It doesn’t come as a surprise but this sentence summarises how bad things are in terms of housing: “In Dublin rents are 30% higher than their previous Celtic Tiger peak.”

Bob24 wrote: »

Yes I presume you are referring to David McWilliams’ opinion piece a few weeks ago and he’s right.

But there are still 2 problem with this:
- it is still very strong in Irish mentality that a proper home has to be a house
- if we want them to be seen as suitable long term homes, we also need to redefine what apartments are, i.e. increase storage, include way more 3 and 4 bedrooms apartments in developments, etc (and also plan properly to build proper high density neighbourhoods with good public transports, shops, and public services and not just dump an apartment block where we would otherwise built a few houses)

agree with everything you wrote.
take an example a project like clay farm, build in 2018, on the green luas station, next to big supermarket, in south Dublin which is the expensive area in the city, and they actually losing land for building a detached homes. projects like this will make people cry for those mistakes in next years, i look at that project and didn't believe this is happening, everyone is talking about missing land, no land next to public transportation and than to see project like that, just make me feel bad for the Irish people.
I just move here to Dublin few months ago, originally from Israel, in Tel Aviv (our main economic capital) no one is building houses for 10-15 years, only apartments but in high buildings like 15-45 storeys.

awec wrote: »

Storage and size is the big one. Many apartments don't even have a cupboard of a semi-decent size.

Families need places to store suitcases, prams, kids toys and general crap like christmas decorations that stay in storage for 11 months of the year.

I am not sure if it is purely cultural or if there is a technical reason for it, but one thing some other countries have and we could do with is storage units in the basement of apartment blocks. For exemple I know in France each apartment comes with an extra small room in the basement which historically is a wine cellar type of thing but they are now fairly neatly finished and insulated so they are mostly used as storage for large items and things which are not regularly needed inside the apartment.

beauf wrote: »

The majority of the population does not live near the Dart.

Those (and driving) are the only real viable transport links. The buses are worse than the LUAS. Okay there's one or two good routes but the majority of it is the pits.