fliball123 wrote: » I don't know where you are seeing that if you look at the myhome.ie homepage available properties 16414 yesterday there was 50 more available so it is actually going down on a daily basis. Maybe the area you have set up for your notifications have had a few properties up for sale but its not typical of the rest of the country
PropQueries wrote: » Dublin City Council seeks to use Docklands tower block for social housing "A 15-storey privately developed apartment block in Dublin’s south docklands could be used exclusively for social housing if permission is granted by An Bord Pleanála. The council’s head of housing, Brendan Kenny, said any agreement with the developers would be pursued only if planning permission was granted and would also be subject to negotiations on price. However, he said the council would be “very, very interested” in acquiring the entire block. We would get a lot of criticism over the scarcity of social housing in Dublin 4, so to have an opportunity like this, we would be very, very interested, if the place gets planning permission, if it gets built, and if the price is right.” Given all this social housing being leased or purchased in Dublin 4, Dermot Desmond wasn't too far off for calling them 'Ballymun Towers South Dublin'. Full story in Irish Times today: https://www.irishtimes.com/news/social-affairs/dublin-city-council-seeks-to-use-docklands-tower-block-for-social-housing-1.4393441
JimmyVik wrote: » How much are they going to pay to lease that I wonder. Would they not be better off doing what we all do, when we look at D4 and realize buying there is going to break us, and look for value by leasing in a cheaper location.
combat14 wrote: » Banks turning the screw on some covid mortgage applicants Bank defends asking mortgage applicants whether their employer is seeking State Covid assistancehttps://www.thejournal.ie/banks-ewss-mortgage-applicants-5245714-Oct2020/
Deleted User wrote: » I've a pretty broad range for my filter on daft.ie and there have been 2 new properties listed since the 23rd of October, if anything I've noticed things dry up
CorkRed93 wrote: » Yep , same here in Cork.
fliball123 wrote: » But surely with the 50% price decreases coming before the end of the year everyone would be saturating the market with their property in order to get as much as they can .. God the amount of properties available on myhome is just drying up so fast. Anyone a take on why this is happening?
Deleted User wrote: » Are you selling a house?
Billythekid19 wrote: » Theres a clear chronic supply issue whilst at the same time pent up demand for from the last last 6 months of lockdowns ect. It would be a very risky move for a family to put their house on the market in the current climate, I know I certainly wouldnt. Whos to say the seller will have a job in 6 months time, would be reckless to plan a move with so much uncertainty and almost impossible to search for a new house with the 5km travel limit.
fliball123 wrote: » But people have been spouting on herewith the amount of air bnb and rentals coming on stream (this was 8 or 9 months ago) and the fact that there is no tourism, no students and no immigration inwards, we would have a huge property range to choose from and the opposite has happened.
TheSheriff wrote: » I would expect supply to remain low until we are well out of this, why would you move now unless you absolutely had too; too many factors at play. Rather than causing a dramatic decrease in the market as expected, it's possibly and looking likely covid will just cause it to seize up for the foreseeable. Obviously this is not good for both buyers and sellers, irrespective of prices achieved.
Smiley11 wrote: » I think its safe to say that the market is utterly unpredictable for the foreseeable future. We're chain free buyers & the market in Cork City is chronically bad in my humble opinion. A few high end properties coming on, a few nice 3 bed semis in desirable areas. Seems to be a lot of former rentals being marketed but none of the above appeal to us to be honest. We're dying to buy a house & have a good upsizing budget but the supply is awful. If I was selling, I'd be laughing & would probably get a bit more than we did this time last year. We don't know when we're going to find a house & worse, we may have an awful bidding war as seems to be standard these days. Spoke to my friend today who is a manager in one of the "big" banks & she said they're very busy with mortgage applications...same lady told me in March that we'd do very well out of all this as the banks wouldn't be lending. Again, utterly unpredictable. I wish prices would drop but I just don't see it happening any time soon.
PropQueries wrote: » But wouldn't that just result in a zero-sum i.e. if someone sells to buy another home, the two homes just cancel each other out and has no impact on the supply/demand dynamic. If that reason is true and it does make sense, the reduction in supply is probably not as big a deal as many believe. It basically just leaves the FTB in the market and that should result in them getting better deals as they're the only buyers around (if that reason is true).
Billythekid19 wrote: » We dont have any immigration but we dont have any emigration either. There are a huge amount of ex air b and b's on daft.ie as it happens, they are just looking for 2 grand for 1 and 2 bed apartments and not getting any tenants in. Paying a mortgage is still significantly cheaper than renting a house so demand for properties remains high. This might change somewhat when rent prices drop in early 2021
jill_valentine wrote: » Rental market is the twilight zone at the moment, so the change is certainly visible there. The question is whether a critical mass of landlords can either hold out for 2019 rents with empty units or accept that they'll have to get less for the unit from now on, or whether they'll bow out of the rental game.
fliball123 wrote: » Well they have held out for 9 months already a lot of these landlords would be REITS and other big investment co.s I reckon they could wait it out no bother
Claw Hammer wrote: » Few if any new builds have commenced since March. Those that were under construction at that time are the last new builds which will be on the market for quite some time to come. The trading up market is bedevilled by uncertainty. People are saving rather than spending. It is also extremely difficult and inconvenient to market and occupied property due to the restrictions and also messy and inconvenient to view property. All repossession cases in the courts have been halted since March, so again there are fewer properties from that source coming to the market. Demographically, household formations are occurring at a high rate due to the Celtic Tiger baby boom.
jill_valentine wrote: » You could well be right. We'll see though. The guaranteed returns you used to get for rental properties aren't coming back for a very long time and there are a lot of risks and unknowns about how well that property will hold its value while you play the long game and pay for its upkeep. At some point that investment money would work harder in something else. Whether we'll get to that point, we'll find out soon I think.
PropQueries wrote: » If that's true, that doesn't bode well for the 145,500 construction workers in Ireland. Construction workers are generally highly skilled and can move to the UK and start work pretty much immediately. Before anyone says it they're still building in the UK, many Irish construction workers have relatives where they can stay for the quarantine period and be working within two weeks from leaving Ireland. More emigration, less demand for housing and so forth and so forth. If that is true that 'Few if any new builds have commenced since March' though.
fliball123 wrote: » Well the only thing I will say about your comment is that yes we will see anything can happen. But someone with a rental and having difficulty renting it out currently has the final option of giving their property to the government and getting 80/85% of the rental value for 20 years + , not sure where you would get that with other investments these days a state guarantee ROI and your property back to you the way you gave it to them. So while that is still an option and judging by the constant moaning from the left about the need for housing this option is going nowhere fast.
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