cubatahavana wrote: » Quick screenshot. Sales way below other years it seems
Hubertj wrote: I think if you have a chance to sell all at once it is more attractive than selling over much longer period? How long does it take for a development to sell out - 3-18 months depending on number of units or price? For the developer it delivers liquidity quickly meaning they can move to next project/take profit. Or maybe it is a conspiracy
Villa05 wrote: » There can only be one reason why a gov would pursue current policy and that is to prop up prices
Graham wrote: » Or to keep the cost of property off the books.
Timing belt wrote: » That argument is gone now that they have all the additional covid debt on the books.
Graham wrote: » I don't think it has. 'We've already borrowed billions so what's a few billion more' is unlikely to wash. Don't get me wrong, I don't necessarily agree with it. I'd like to see more government spending to mitigate the effects of coronavirus across the economy.
Hubertj wrote: » https://www.google.ie/amp/s/www.irishtimes.com/business/technology/bt-sets-up-irish-procurement-business-with-14-5bn-budget-1.4407704%3fmode=amp Positive for Ireland. Highly skilled jobs with people relocating here as well as more employment opportunities. Eaton, Verizon and others have done similar over last few years. Procurement CoEs are very positive for the economy. Nice to have some positive news amid this sh*t show.
Hubertj wrote: » This is as plausible and opinion as some of the others proposed on this thread over the last few days. I think property prices will increase because contact will be made with alien life and these aliens will move to Ireland. They will need somewhere to live and will have loads of cash. That’s just my opinion though. My opinion is back up by the fact that there are definitely UFOs out there. When we see them in the sky they are actually viewing properties.
mcsean2163 wrote: » The area we're looking is Kildare. It's hard to know, we put the offer in last Monday and were told the seller has been notified but that there's a lot of others doing second viewings this week, etc. I would have thought time of year etc would be in our favour, might be best to pull the offer and let it go back to the lower one which was 30k less. I guess they're holding out for the best offer etc. whereas we're on a tight schedule. Then again maybe increasing 10k might be worth it if we closed fast. It's a tough one surprised by the level of interest the auctioneer is reporting...
PropQueries wrote: » They’re not being sold at current market values as many are not being sold at all IMO There was one poster recently who put up an example of an 80 unit development in Malahide that was completed last year and only 4 sales were recorded on the PPR as of this month.
Villa05 wrote: » The state has access to finance at 0%, have their own land to build on and know that building on the commercial side will come under downward pressure freeing up labour. why would they be entering into multiple long term leases at market price. That price offered for 1 unit could deliver 3 units were they to build there own There can only be one reason why a gov would pursue current policy and that is to prop up prices
Cyrus wrote: Because they have shown no ability to deliver properties at a reasonable cost all of the above notwithstanding and taking leases on already built property is quicker .
PropQueries wrote: » Interesting shovel ready site for sale in the docklands with FPP for 9 apartments and asking €800k. So that’s less than €90k per apartment site. Link to MyHome here: https://www.myhome.ie/commercial/brochure/church-road-abercorn-road-east-wall-dublin-3/4467724
Timing belt wrote: » That argument is gone now that they have all the additional covid debt on the books. If they don’t do something substantial to address housing now then I think FG/FF may as well go out and start canvassing for SF.
Hubertj wrote: They don’t have the expertise or resources to build themselves. It sounds great but would result in cost over runs and seats running into years. To suggest otherwise is naive.
PropQueries wrote: » Well, the supply of both second-hand homes and new builds are back to near 2019 levels. So the reduction in transactions is not due to a lack of supply, so it must be due to the demand side. Covid hasn’t stopped viewings and the narrative has been that renters are doing everything they can to buy a home due to been locked up due to Covid. Only reason left for the reduction in transactions, given that supply hasn’t really fallen, is lack of demand IMO.
New listings for sale on MyHome have returned close to 2019 levels through July to September, a welcome sign of confidence in the market from vendors. However, this hasn’t made up for the enormous shortfall in new listings for sale through April and May. Hence, the stock of residential properties listed for sale on the MyHome website in September was 17,800 - still down 25% on 2019 levels. There were 4,600 properties listed in Dublin, again down sharply - by 19% on the year. Similarly, housing completions in Q2 2020 were 3,290, down 32% on the year. Clearly, the impact of COVID-19 has been to reduce housing supply within the market.
In contrast, demand from homebuyers appears robust. The data show that PUP claimants have been focused on sectors such as construction, hospitality and retail where homeownership levels tend to be low. The negative impact of COVID-19 on the labour market has therefore had a limited effect on demand. Figure 4 illustrates that traffic on the MyHome website from prospective homebuyers through Q3 was up 40-60% on 2019 depending on which measure is used.
Villa05 wrote: » When we had nothing we set up a successful power generating company, gas supply network, telecoms industry, peat harvesting and power generation amongst others I get your point regarding county councils. I honestly don't know what purpose they serve anymore. If they stopped working would we notice any difference I disagree with the argument that we are incapable of building a few houses. The will not the ability is the problem
beauf wrote: » They've managed do to nothing on housing for many decades. Through the Celtic Tiger and the crash that followed. Has the pandemic has stalled SF momentum. Remains to be seen. It certainly has stalled delivery of state housing.
Sweet.Science wrote: » I'm finding im not being outbid on houses but the sellers just aren't accepting the bids because it hasn't worked out like they had hoped
thefridge2006 wrote: » EHHHH What? It didnt go into shutdown? you mean i stayed indoors for weeks on end by mistake????? More people were still working in 08 too....that worked out well also....:rolleyes::rolleyes::rolleyes:
Marius34 wrote: » So you agree supplies for properties advertised on myhome didn't fall? Demands did fall? Then you are welcome to explain, how Number of properties on myhome fell from 21,5K to 15,6K in a year?
CorkRed93 wrote: » Don't mention those peasants they were never in the market anyway
Cyrus wrote: » Would you lend to an airline worker at the moment ?
Hubertj wrote: » They don’t have the expertise or resources to build themselves. It sounds great but would result in cost over runs and seats running into years. To suggest otherwise is naive.
