Springy Turf wrote: » Those approvals are for final approval I believe, not AIP, in case anyone reads into it as a leading indicator. It would correlate closely with the number of transactions completed.
MattS1 wrote: » Not in my experience. Area is always the most important factor.
Iceman29 wrote: » https://www.irishtimes.com/business/economy/mortgage-approvals-down-31-in-june-but-rates-remain-high-1.4330259?mode=amp Mortgage approvals down 31% in June but rates remain high
Shelga wrote: » My limited, tiny experience of looking to buy is that apartments are going for under asking; houses are not. I think because of the pandemic, people want access to outside space even more than before. It's certainly true for me. I would now prefer a house to an apartment, even if it's in a worse area.
accensi0n wrote: » I'd be willing to bet €100 that sells for more than 450K if anyone wants to take me up on it.
Cyrus wrote: » It’s autumn now is it ? And when it doesn’t happen in autumn it’ll be q1 next year and so on Eventually you will be right like a stopped clock
schmittel wrote: » Is this the wait and see argument? I.e if you don’t have to sell you would be better off staying put to see how all this plays out?
Hubertj wrote: » Thank you, will take a look - productivity summary gives a couple of interesting highlights. If employment levels are high why has productivity fallen so much.
PropQueries wrote: » I don't think there is a shortage of construction workers in Ireland at the moment or for the foreseeable future. The latest Build 2020 Report in July 2020 from the Department of Public Expenditure and Reform states: "that while construction sector employment in 2019 exceeded the level of employment in the year 2000, the number of new dwellings completed in 2019 is estimated to be approximately 60 percent, or over 30,000 units, lower than in the year 2000. This suggests that there is easily enough construction labour in Ireland to meet the housing demand." You can read it here: https://www.gov.ie/en/publication/c19a5-build-2020-construction-sector-performance-and-capacity/
PropQueries wrote: » Good point. But it would also provide reliable data on the number of vacant homes coming back into use. Maybe they should re-introduce the ESB connections data alongside the new build data to give us a picture of both new builds and previously vacant homes re-entering the market.
Graham wrote: » which implies it was previously connected and the second connection would be when the house was sold as a second hand house. I don't see any benefit at all to adding second-hand houses into the new build counts. There are many counties where your suggested approach would leave the impression there had been enormous amounts of construction activity over the last 10 years when there has in fact been none.
PropQueries wrote: » I don't think so as it had to be disconnected for at least two years previously before being counted.
Graham wrote: » that could mean a single property is counted as a 'new build' multiple times. Probably better that we don't start double counting properties.
PropQueries wrote: » Surely, if a house was previously vacant for two years and then re-enters the market, that's the equivalent of a new home entering the market
schmittel wrote: » Ok, so why in your opinion will the availability of property go down?
JamesMason wrote: » The US economy is in tatters...the UK economy has fell into the deepest recession in living memory. However, in Ireland sure it's grand..quick buy a house now...demand is high ...get in now before it's too late. It's like CoVid never happened. Bat**** crazy behaviour. When the penny drops in the autumn the SWHTF.
Hubertj wrote: » There are also some such as yourself who say there is no housing shortage. If so why should there be any construction? Whatever about demand or availability of credit, there looks to me like a requirement of accommodation. This will have to be provided by the government in some form. There are some idiots that believe the waven pipe spouted out by Sinn Fein. Irrespective of what policy you have there is a finite number of construction operatives in this country which determines the number of units that can be delivered. You could always increase the number of migrants to work in construction that could magically build the houses they will live in as well as the houses they will build for commercial purposes. The rest is just noise. To add, only an idiot would think that prices won’t be adversely affected by current economic issues.
schmittel wrote: » My belief is based on facts. Though plenty of posters have told me that those facts are from discredited data sources. Like the CSO. I’m yet to hear an intelligent argument that has persuaded me otherwise.
Hubertj wrote: » I believe Manchester United were the best team in England last season and will win the league next season. Both of those beliefs are bollo*x as they are not supported by fact. I have a vested interest in that I support United. I read articles by the toss*er hearne and he said the type of units being delivered has to be correct so there could of be a point there.
schmittel wrote: » There will always be demand for new build houses in a growing population, hence there will always be construction. My point is I believe the current discourse is flawed and if it leads to building 35,000+ per annum units, majority of which are 3/4 bed family homes in the suburbs/commuter belts it will lead to a massive oversupply in the relatively near future.
fliball123 wrote: » A number of reasons firstly very few new builds have been completed over the last while with covid, secondly people have been believing that prices will drop and were pulling back from selling until prices start to rise but it turns out prices didnt go down. thirdly sellers are also buyers and with lending down it means a lot more people are staying put for the time being while Corona is still in play. Also this is not an opinion this is what has happened over the last 6 months.
fliball123 wrote: » It wont if the availability of property goes down as well as the numbers that can buy go down the status quo continues supply vs demand = price this has always been and always will be the basis of any price
Nijmegen wrote: » They don't - but as long as demand for household formation outstrips the supply of dwellings available for purchase, the prices will not fall dramatically and will tend to go up over time.
![Photo of [Deleted User]](https://w6.vanillicon.com/v2/6b0748b4741870baaad828fe92174b3c.svg)
