schmittel wrote: » Many people, not least the government, think that is a good thing.
Cyrus wrote: » so there is an increased FTB grant and the decrease in vat will bring prices down yet you arent happy?
Rossvet wrote: » Nothing on affordable or social housing but we can give a subsidy to people buying €600k houses. Right wing rules again.
brisan wrote: » Builders will not drop prices They will charge what the market will bear and pocket the difference
schmittel wrote: » Of course I am thrilled, I was just responding to CorkRed's point about FTB's having to pay higher prices. I think it is fantastic that FTB's have an increased grant, I'm sure it will make their day. I am not convinced the decrease will bring down prices though. Nor do I think it will do anything to address the homeless problem. I think it is poor policy, but ultimately it suits me down to the ground, as I plan to sell my house within the next year. And in order to get top dollar I need plenty of FTBs armed to the teeth bidding madly at the bottom of the chain. Happy as a pig in sh*t. But I'm not the one that needs help.
fliball123 wrote: » Its all location people that why somes areas are higher. I have seen 2 houses in the same estate one had nothing done to it, the other had an attic extension, a kitchen extension, underfloor heating, bathrooms done up to the nines, a side extension, porch extension and a shomra room out the back. The back was all decked out in expensive granite stone and both were up for sale at the same time and the difference in price was 15k even with all of the work above done. Someone had pumped easily 150k in and they only got 1/10th back. So location is probably the biggest driver of price after demand
Cyrus wrote: » according to everyone what the market will bear is decreasing at an alarming rate so this must be good news for FTBers?
Cyrus wrote: » wont help you i wouldnt have thought its for new builds.
Cyrus wrote: » this is for all new builds is it not? and if its a 600k house you are capped at a max of 30k or 5%. and you understand this is an economic stimulus plan, pumping money into free houses for people who dont contribute to the tax take isnt the agenda here.
SozBbz wrote: » Not to rain on your parade, but this might actually hurt you. The HTB scheme has always been for new builds, and this is just making new builds more attractive to FTBs than 2nd hand properties.
Hulk Hands wrote: » And it's still capped at 500k is it not?
Smouse156 wrote: » I think your a little confused! The FTB grant is only for new builds, therefore your second hand house isn’t eligible. It’s is highly likely this will depress second hand homes as everyone will go towards the zero deposit new builds. Think about it logically, a 300k new build where the buyer needs zero down vs a second hand one where the buyer needs 30k saved on Irish wages. Outcome, the new build flies off the shelf and the second hand house drops it’s asking to 275k
schmittel wrote: » I get that but there is no way an FTB is buying my property anyway, or if they are they are not worried about the government HTB scheme. But, as above, helping FTBs paying increased prices for new builds feeds into prices across the entire market.
schmittel wrote: » Asked and answered a couple of times. Unless FTBers buying new builds operate in a vacuum, I am not the one that is confused.
Smouse156 wrote: » Actually all it does is help demand in one particular segment of the market! Builders and FTBs. It helps the rent slaves break their chains and become home owners so bad for landlords as well. Builders making more cash will help them increase output further increasing supply which depresses prices. This is the thinking of the Dun Laoghaire-Rathdown second house sellers. They wondered why the prices dropped 7% in 2019 when the whole market only fell 1%. The average price was held up by the new builds coming on stream but it hurt second hand expensive houses
Dylan94 wrote: If its only until the end of the year though, so I can't imagine it having that much of an effect on output. New builds take a long time to get after purchase so it will mostly effect those that have already purchased and are waiting for the house to be ready.
Shelga wrote: » Please, point me to new builds costing €300k anywhere within Dublin. Another policy that does nothing for single people, because buying a new build is so laughably far removed from what I can afford! Yes yes I know, 2 people equals more money, blah blah.
Smouse156 wrote: » You don’t understand! It won’t help your second hand house, when it depreciates due to buyers flocking to all the new builds and ignoring your place. Then you’ll get it
schmittel wrote: » For years my property has been appreciating in a large part thanks to buyers flocking to all the new builds in the area. Long may they continue to flock at ever increasing prices. The people buying new build houses in my area are not consciously ignoring my house in favour of a new build, but it’s just so far off their radar it might as well be in a different county. However you’d need to be a serious half wit to consider that the confidence in their segment of the market does not have a positive impact on the confidence in my segment. This holds true at a local, regional and national level to some extent.
TheSheriff wrote: » This is putting money in the pockets of builders. This will undoubtedly cause a creep up on new builds first; second hand homes will follow general market trends. The 300k house will now become 330k. Bigger mortgage repayments etc. Coupled with the housing ministers "go forth country councils and buy up all the houses for social housing". What is this government thinking.
