brisan wrote: » I think someone stated we are heading for deflation ?????
IAmTheReign wrote: » My point was in response to a poster claiming new builds were selling quickly. Now that might be the case for some developments but I was pointing out that this is not the case for all new builds. In 2017 the first phase at Shackleton Park sold out off plans. The latest phase has units lying empty. The demand that was there 3 years ago has calmed. Units in Rokeby Park have been ready to move into since 2015 and there is still some available. Yes, they're expensive so you would expect them to sell slower than other developments but 5 years is a long time to shift 71 houses in a period of supposed high demand.
MacronvFrugals wrote: » 37% of FG TDs being landlords might answer some of those questions.
Bass Reeves wrote: » With a semi lockdown still in place people will still continue to build up savings. Any vaccine will be another 9-12 months before general population are vaccinated and total lockdown ends. From that savings will continue to climb. What posters are failing to accept is that while all the savings will not effect property prices some of it will. Not everyone is savings extra but some are. Not everyone is saving a deposit but some are. Savings are more likely to be spend on big ticket items rather than whittle away on weekends away. Some will spend this extra savings on cars or once in a lifetime holidays. But for other its will help them to reach there deposit sooner. It will also help breach( or maybe increase them) differences between house prices and mortgages. If only a faction of those extra savings are directed at house purchases it will impact the market through higher labour and building costs and extra house buyers It will not protect against inflation
Wanderer78 wrote: » Sure why would you be landlord, what a train wreck of a business, the market is not truly capable of providing us with all our needs, particularly in relation to housing
Cuddlesworth wrote: » The fall in landlords could be attributed to capital gains. But they are not being replaced and the number of tenancies is falling, meaning decreasing supply. The country is still growing, one of the stats should at least be increasing, not decreasing. Even if they remained static over 4 years, its still a relative decrease.
PropQueries wrote: » Maybe. But would a c. 3% fall in the number of landlords between 2016 and 2020 be regarded as "bailing hard"? I think it's more to do with landlords buying investment properties between 2012 and 2014 to take advantage of the capital gains tax reliefs. They initially had to hold onto them for 7 years to take advantage of this tax relief. Two budgets ago, that was reduced to 5 years. I think this explains the slight c. 3% fall in registered landlords between 2016 and 2020.
Marius34 wrote: » One thing would be that they have 71 houses for 5 years empty that not selling, another thing is that the development is slow, developed by smaller constructions teams. It still ongoing development. Although it's very common that houses over 500K, takes much longer to sell.
awec wrote: I think a significant factor is the accidental landlords after the 2008 crash finally getting back into equity, selling up and moving on with their lives. But this is just a hunch, nothing to back it up.
awec wrote: » Do you have the figures from 2008-2016?
awec wrote: » I am pretty sure the number of landlords has been trending down every year for almost a decade? Even when prices were going up, and rents going up, the number of landlords was going down. Someone will correct me if I'm wrong I'm sure. I think a significant factor is the accidental landlords after the 2008 crash finally getting back into equity, selling up and moving on with their lives. But this is just a hunch, nothing to back it up.
awec wrote: » Um, obviously? The number of unsold units would be higher if houses weren't being bought to house the people who need housing. Deleted. Replied to wrong post. Apologies.
IAmTheReign wrote: » Well for Rokeby Park I mean I don't need to wander around the estate to know not fully selling a development of 71 houses in 5 years isn't good! The Shackleton development was started so long ago there's already some coming up for sale second hand. It's not an area of Lucan I would want to live but the quality of houses seem to be very good for the price. It all reminds me of the Adamstown development in the lead up the recession where there was houses and apartments lying empty for years before they eventually sold.
PropQueries wrote: » I think most people living in Dublin have noticed the ever increasing number of unsold/ unrented new built units over the past three years. This was then backed up by the Goodbody report last year.I would assume the number of unsold units in Dublin would be even higher if the county councils weren't buying up or renting a significant proportion of them.
Cuddlesworth wrote: » 1- REIT's are mostly purchasing developments, so I would be making a assumption they would count for new tenancies in new housing stock, not existing tenancies in exisiting housing stock. 2- Sure, I'm not sure that many private landlords have really continued investing but its a possibility. 3- Housing body's have been purchasing and adding to exisiting stock, their tenancies are shown now days though and their impact is minimal. 4- They fell. Will get back to this. 5- Councils don't register with the RTB. And councils are not adding stock, housing associations have taken over that role. 6- I think there will be a lot of this coming online using the new planning laws but I don't think there would be significant impact on the market. Lets get back to the landlords fell during the last 4 years and why it significant. First thing is that the number of private tenancies fell during that period too, trending with the decrease in landlord numbers. REIT's and housing body's should have added significantly to the number of tenancies but they still fell. The rent to own ratio is currently around 20% in this country. So if you get 20k new homes in 2019, you expect to see a increase of 4k in private tenancies as new landlords enter the market. If in a 4 year period you build 60k new homes, you expect to see a rough increase of 12k new tenancies, REIT, housing body, private landlord etc. Lastly, RTB don't publish the number of landlords who register pre-existing tenancies who were not registered before. I don't know what the impact So what do we know with certainty. Significantly high rents across the country in the last 4 years. Significant legislation put in place regulating the rental market in the last 4 years. New housing stock being added at a increasing rate across the country in the last 4 years. Number of private tenancies decreasing during that period. Number of private landlords decreasing during that period. Seems fairly easy to extrapolate that something is wrong, most likely smaller scale landlords bailing hard.
Marius34 wrote: » Goodbody report probably tells that large number of property are not getting sold in open market. There is growing number of BTL, self builts, government programs like PPP. This is backed as well by Property price register, there is always less registered sales, than numbers of new build completions. In addition the vacancy rate in country is going down, so nothing to back up on the numbers of increase on empty new build units.
Marius34 wrote: » I have no clue about Lucan, but houses next to me in Dublin 13, gets sold before completion. Although Lucan might be not a case, and might be that houses in Lucan doesn't sell well. But my question on which basis do you know that houses in those development are not selling well? Do you see many empty completed new builds (not show house) that has not been sold for a while? which street? From what i see it's an ongoing development, so it's normal to see adds until development gets completed.
PropQueries wrote: » Link to RTB landlord registration statistics is here: https://www.rtb.ie/research/rtb-registration-statistics Attack at will. I don't mind being corrected. It's how we learn.
PropQueries wrote: » I think most people living in Dublin have noticed the ever increasing number of unsold/ unrented new built units over the past three years. This was then backed up by the Goodbody report last year. I would assume the number of unsold units in Dublin would be even higher if the county councils weren't buying up or renting a significant proportion of them.
IAmTheReign wrote: » From my experience new builds aren't selling out quickly at all. As an example, I'm from Lucan originally so naturally I keep an eye on things there as I know the area. There's a recent development Shackleton Park that is aimed squarely at first time buyers that has multiple units available, despite the fact that they were advertising in February of last year that there was only a few left/ At the other end of the scale there is a 'luxury' development of large detached houses called Rokeby Park that still hasn't sold out despite first coming onto the market in 2015!
Bass Reeves wrote: » More than likely all the work was done after buying. What looks like having being done is an attic extension, paving, outside landscaping, new doors and windows.I imagine there was some money spend inside as well, new Kitchen, flooring, tiling bathrooms etc. If it was done in the he 2012-14 period 50k would have completed a lot if that. Even up to 2017 100k would have covered it. It unlikely that the money was spend in the last 2-3 years as selling a house is not a spontaneous decision.
schmittel wrote: » ......... Of course I may be wrong on all of the above and they spent the guts of 400k on the house to achieve a shinier version of what was there before..........
gourcuff wrote: » when people say they would have bought if it wasn't for Covid, i am not sure they understand how competitive it is for housing when you are trying to buy. Even if you find a place you really like, in my experience there are 20+ other couples at the viewings all with the same idea, and many with deeper pockets than you. We got outbid on maybe 7 properties before we got our place. In the end we had to increase the amount we wanted to spend to get a nice place in an area we liked and to outbid the competiton. Similarly with new builds, the better units go quick , those little red stickers fly up on the board and you get left with the mid-terrace with tiny garden thats way over-priced. I would advise you budget a year for house hunting.
IAmTheReign wrote: » This despite the fact that rentals across Ireland are at an all time high, and that there was an estimated population increase of 64k in 2019 and these people need somewhere to live. See here
Augeo wrote: » As I said, in 2011 it was as it was for decades before. It got more then a paint job
![Photo of [Deleted User]](https://www.boards.ie/applications/dashboard/design/images/banned.png)
