Reversal wrote: » This 'small supply and ever lasting demand' argument has already been debunked. Just two days ago there was an IT article posted here. Construction slowdown in Dublin due to investors getting nervous about the amount of unsold stock that is starting to build up. So in Dublin right now, unsold new build stock is building up to the point investors think the market is too risky to put any more of their money near it. And this is in the highest demand market in the country... But I'm sure they're wrong, sure doesn't everyone want a house!
SozBbz wrote: » Well if someone posted a newspaper article it must be true. I'm not saying there no slow down, but posters predicting a cliff edge are completely wrong in my opinion. I've posted previously that I think we've reached affordability limits, but that doesnt mean that prices are going to rapidly fall. And yes, Irish people do always want to buy houses, its been ever thus. There is a fascination with home ownership in this country. Just take a look at the alternative, the rental market, and its easy to see why.
SozBbz wrote: » People still need houses and still want to put down roots. Due to the last recession the average age of home buyers has now risen significantly. Many people are now 30 or above buying their first place, and may have already started their families or are looking to do so in the immediate future. People can't/won't wait indefinitely to get on with their lives. Irish people will always want to buy houses. The demand factors are still going to be strong and the supply is still limited. Oh and for the cheap seats in the back - its been said a million times but it appears some people still need to hear it - current prices are not built on credit, so this is not the same as 2008.
terrydel wrote: » Given the 3 years of utter chaos that was followed the referendum, and the fact that the same idiots who've presided over that 3 years will also in all likelihood preside over the enactment of brexit in whatever form that will take, the idea that it can be managed and is little to worry about, is optimistic to say the least, and far more likely to be delusional.
JamesMason wrote: » No, just wide awake.
hmmm wrote: » Brexit can be managed over the long term when there is a series of deals in place, which now looks like the most likely scenario. The biggest danger to Ireland was a sudden "no deal" exit with a significant and overnight impact on our economy. There is a partial upside, but the influx of rich fund managers some were suggesting isn't going to happen. Anyone who was waiting to see what happens with Brexit for its impact on Irish property prices is now going to be waiting years, if not decades to get a conclusion. It's not a major factor anymore, people can't wait that long. The risk of a sudden Brexit-induced crash has significantly reduced.
SozBbz wrote: » Alarmist much?
JamesMason wrote: » The IMF and most major economists are warning of a global slump (compounded by any form of Brexit). We are especially vulnerable and it is that uncertainty which is causing the wobble. Look at the construction output figures released today - they have crashed. Property market sentiment has softened. Things can go south (or pop) very quickly. We are on a cliff edge here.
Cyrus wrote: » what any market hates is uncertainty, the unresolved brexit issue has caused uncertainty which has certainly contributed. the other factors are pretty obvious, the growth in prices of houses has surpassed the growth in earnings and has still as the CB rules have kicked in. In a functioning market with tight lending rules house prices should more or less rise with inflation.
Mic 1972 wrote: » Brexit may not be the biggest impact on property market then, as the market has reversed the positive trend and something must have triggered that
chicorytip wrote: » I do wish builders could dream up more original and appropriate names for their developments. The Paddocks in Donabate, for example. Is there some horse breeding or racing activity associated with that particular area?
Sheeps wrote: » Had a look at Beresford and the Paddocks in Donabate today and they're both lovely developments. There's only three or four homes left in the next phase of Beresford but in terms of location they're excellent (right opposite the park and close enough to the train station). The Paddocks are are really beautiful homes. Think I'll be trying to snatch one of the next phase up on those if I haven't found somewhere by the time the come available. Not much garden space, but I've come to expect that for new builds these days.
nerrad01 wrote: » how have you come to this conclusion? we literally have no idea how brexit is going to play out never mind the subsequent economic impact it will have on ireland.
hmmm wrote: » Brexit is now largely off the table as a risk. Builders are building only where there is demand. Banks are lending prudently. High hopes of a US/China trade deal. Markets are moving out of bonds into equities signalling optimism. The 'For sale' market certainly looks to have reached a reasonable equilibrium - the overhang of landlords looking to sell has largely cleared, prices aren't doing much up or down, stuff is selling. The 'Rental' market is still completely screwed. I'm seeing signs of it driving workers we need out of the country (tech mostly). We need to build rental apartments, we need lots of them, and we need to build them quickly. I'm very happy if large institutional buyers own them, or a large chunk of them, let them take the macro-economic risk.
Mic 1972 wrote: » New estates do look crammed. The Hansfiled development in Ongar, D15 is a typical example of that with parking space instead of front lawn and very narrow lanes to drive through.The estate is still being expanded so there must be damand, but they no longer advertise on Daft which is interesting
hmmm wrote: » Brexit is now largely off the table as a risk.Builders are building only where there is demand. Banks are lending prudently.High hopes of a US/China trade deal. Markets are moving out of bonds into equities signalling optimism.
Bigmac1euro wrote: » I’ll always keep an open mind, but I’ve been thinking this for a while now. I find some of the new estates feel quite crammed, in saying that the hollystown development is impressive in that it’s not as crammed feeling. The prices just keep going up with each phase in most developments though I do think this has stopped now. When I started looking at new builds the price just kept getting too unrealistic and I wouldn’t like to commit to a mortgage of 400k I’m trying to stay under 300k if possible. And you won’t get a new build for that unless. I head out to Meath. With terrible transport and no family or anything around. I am glad that the new property market appears to be taking a lot of the pressure away from the 2nd hand market. So hopefully people keep buying and opting for new builds. I’m currently going by a new estate on the bus now. This new development was reasonably priced though the layout looks terrible. Also it backs onto a halting site. So no thanks. Some of the houses seem to have no privacy to the front or back. Everything’s on top of each other.
bdmc5 wrote: » As someone who had the same dilemma as you, all i can say is keep an open mind as the reasons you state for dismissing new builts are sweeping generalisations or incorrect in many cases. As one of the posters mentioned above there a new builds and plenty of them in established areas with great infrastructure and services. There are certainly no 2nd home 100k cheaper than new builds in Cork where i bought unless there are serious compromises to roofing issues, insulation, plumbing or layout etc. Theres perhaps 40k to 50k in the difference but taking off the FTB grant and the cost involved in bringing the 2nd hand house to any semblance of spec to a new build and new builts worked out the same if not 20-30k cheaper where we looked in Blackrock. Theres no doubt there are compromises in garden size Vs 2nd hand home but for us it was all about the interior. A more spacious home to your spec rather than have to work around other peoples tastes. I get alot of satisfaction in knowing my wife and i and small baby are the first to make memories in our house built for us. Just my 2 cents:)
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