[Deleted User] wrote: » Remember a few months back, when the radio talk shows were full of estate agent guests, talking about how they're inundated with people wanting to buy the ramshackled cottages around the country now that they can work from home.. did that ever materialise? Haven't seen any real sign of those cheap and cheerful houses being snapped up (just yet)? Or is it just me with my blinders on?
Zenify wrote: » Honestly, you would think some of the posters here are working full time putting up their predictions of property growth. I'm actually so tired of it, I've switched off boards a good few times because of it. I would really like a proper debate about the property market but as others have stated only one argument is allowed by some posters.
Reversal wrote: » But the narrative is that the demand has been there all along, only supply has been constrained.
Hubertj wrote: » I think there are opportunities in hospitality medium term. Commercial rents will/are falling. Sadly, I think a lot of bars/restaurants/hotels etc will not reopen or will go it of business. Opportunity for someone else to take on a lease at lower rent with lower overheads etc...
Timing belt wrote: Almost 7 in 10 people in Ireland are living in homes ‘too big for their needs’
markodaly wrote: » A quote I heard during the week. "Hundreds of thousands of people in Ireland are out of a job and unemployed, they just don't know it yet." With Covid biting right now, but good news about vaccines rollout coming every day, we will see a re-opening of the economy come spring and full opening come the summer, which will see all the state supports to businesses and people being cut off, while many will then need to go it alone. Some will be fine, others not so fine. I saw something interesting about insolvency, where there are x number of businesses or companies going insolvent every year, a natural order of things. Apparently, last year has seen a massive drop in this number, so there will be a pent up demand of the number of businesses going bang, never mind covid damaged businesses that are saddled with extra debt. How this affects the wider economy and property market is anyone guess. Things seem to be upside down now. Big demand for property, right in the middle of a pandemic.
Timing belt wrote: » Almost 7 in 10 people in Ireland are living in homes ‘too big for their needs’https://www.independent.ie/business/personal-finance/property-mortgages/almost-7-in-10-people-in-ireland-are-living-in-homes-too-big-for-their-needs-39958654.html
Official statistics released by Eurostat reveal that 69.6pc of Irish people were living in dwellings deemed too large for their needs in 2019 in terms of excess rooms – more than twice the EU average of 32.7pc.
Only 3.2pc of the Irish population were classified as living in overcrowded households in 2019, although the figure has increased from 2.7pc the previous year. It is still the second lowest rate among the EU’s 27 member states where 17.2pc of people on average live in households without enough rooms for their needs.
schmittel wrote: » Some interesting stuff in there: Housing crisis my foot!
The highest housing costs in 2019 compared to the EU average were found in Ireland (77 % above the EU average),
schmittel wrote: » Whilst we are an extreme outlier in terms of cost, the EU says we are good in terms of affordability - EU average people spend 20% of disposable income on housing costs whereas we spend 15.7%. This surprised me.
Zenify wrote: » wow that is surprising. I wonder if they broke it down into age groups would we see something different? I think our older age group are paying less and our younger age group are paying more...? any thoughts?
Timing belt wrote: » If you take into account 1/3 of homeowners own their houses outright it will lower the average
schmittel wrote: » Might be something to do with the fact that mortgage payments are optional in Ireland!
Timing belt wrote: » I am struggling to find underlying data for this..... What I did find was how we was this graph from the ESRB report on housing
6541 wrote: » https://www.independent.ie/business/personal-finance/property-mortgages/timeline-ten-years-of-chaos-36156646.htmlThis just got posted in another thread. it shows a timeline of Irish property - it's fairly shocking to be honest.
2007- There are signs that all is not well in the property market - new developments aren't selling out, buyers are pulling out of sales and a daft.ie report indicates a slowdown in prices in the second quarter of the year. But vested interests are still talking a buoyant game and not everyone is happy with those who question the strength of the market.
schmittel wrote: » The only way that 1/3 of people own their houses mortgage free would skew our affordability figures would be if that was considerably higher than EU average - doesn't look like from that graph.
schmittel wrote: » If you believe in cycles (as I do) I'd say we are at a similar point to 2007, or at least we were in Jan 2020 pre Covid.new developments aren't selling out - tickbuyers are pulling out of sales - not sure if this was commonplacedaft.ie report indicates a slowdown in prices - tickvested interests are still talking a buoyant game - ticknot everyone is happy with those who question the strength of the market - tick History does not repeat itself, but it tends to rhyme!
markodaly wrote: » A quote I heard during the week."Hundreds of thousands of people in Ireland are out of a job and unemployed, they just don't know it yet." With Covid biting right now, but good news about vaccines rollout coming every day, we will see a re-opening of the economy come spring and full opening come the summer, which will see all the state supports to businesses and people being cut off, while many will then need to go it alone. Some will be fine, others not so fine. I saw something interesting about insolvency, where there are x number of businesses or companies going insolvent every year, a natural order of things. Apparently, last year has seen a massive drop in this number, so there will be a pent up demand of the number of businesses going bang, never mind covid damaged businesses that are saddled with extra debt. How this affects the wider economy and property market is anyone guess. Things seem to be upside down now. Big demand for property, right in the middle of a pandemic.
Timing belt wrote: » I have got the data source will pull the data together by age income etc in a bit.. The one thing that I did think of is that the ownership v renting may be different and older people would still be paying rent where as owners would have little cost
Timing belt wrote: » The following is the breakdown of the housing burden for Ireland
Louis Friend wrote: » That had to have been spoof. There’s too much uncertainty for people to do that. For all we know, things will be back to normal 11 months from now. You’d feel pretty stupid leaving Dublin, for example, only to have to come back.
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