Hubertj wrote: » Would falling prices not be positive? I would also like to see a survey of people who bought outside Dublin due to affordability. If prices decrease would they take opportunity to move back to Dublin to be closer to family, friends and Starbucks?
schmittel wrote: » Who'd have thought it. Remote working more appealing to certain age groups, study finds Two in every five - 40% - workers are happy to stay working from home post-Covid, according to a new study I think we can assume that this almost 50% of would be WFHers are in the same age range as the bulk of would be FTBers. If almost 50% of late 20s/30s workers want to WFH and 1 in 10 of all workers would like to leave larger urban centres, it would suggest that more than 1 in 10 of FTBers would like to leave larger urban centres. If this survey is even close to representative that is a serious headwind for Dublin prices.
decreds wrote: » Fwiw, my company has offices in Belfast, Dublin and London. I have been with the company years and know most of the people in the Dub office. There is roughly 90-100 in the Dub office with around 30 of them from the countryside (all under 35), around 25 of them have all moved back home and now that we have been given the green light with full time WFH the majority of them will now be purchasing outside of Dublin. Colleagues in Belfast and London have reported similar patterns. It's a drop in the ocean but people in MNC have been WFH for years on a semi-regular basis, now that most of them are offering full time WFH we could see a huge amount of FTB opt out of Dublin.
PropQueries wrote: » This is a completely new initiative from DCC and I don't believe anyone could have foreseen this. According to the Irish Times: "Dublin City Council to consider using public parks for Traveller housing schemes" DCC also said "We will face opposition to proposals and we would welcome strong political leadership to support new development proposals brought before Councillors for approval." I don't think anyone can now now seriously disagree with building social homes on Phoenix Park if this latest proposal goes through IMO. And, I'm not saying that in jest. Link to Irish Times article here: https://www.irishtimes.com/news/social-affairs/dublin-city-council-to-consider-using-public-parks-for-traveller-housing-schemes-1.4479511
Timing belt wrote: » It won't be the first time that they build on public parks. They built 50 odd houses on a public park in Clondalkin 2/3 years ago.https://consult.sdublincoco.ie/en/consultation/part-8-proposed-new-rapid-build-social-housing-development-st-cuthberts-park-clondalkin
PropQueries wrote: » So there we go. We have the solution to the supposed lack of land problem for building houses in the city. It's called Phoenix Park
Timing belt wrote: You would need to see a drop in rents of about 30% for rent to be on par with a mortgage repayment (assuming 30 yrs @ 3%) so there should still be demand to buy for people wanting to live in Dublin and they may have more choices as supply comes online and return it to a more normally functioning housing market with the exception of DLR/Wicklow that will find it more difficult to sell at current prices as these areas have already maxed out on property prices.
schmittel wrote: Bit speechless reading that. Hubert's assessment of councillors IQ seems to be spot on.
Villa05 wrote: » Every bubble needs a decent hot air system to blow it up In fairness it always seems to be DCC that come out with these hair brained plans while the surrounding councils seem to be far more efficient and deliver affordable housing albeit in low numbers @ value for money for taxpayer If this thread has proven anything. DCC should not be left to look after your back garden nevermind the centre of our capital city
Hubertj wrote: I wouldn’t ldnt confine acts of stupidity and incompetence to Dublin City council.
PropQueries wrote: » Here's an interesting investment property for sale in Ahascragh, Co. Galway. It was initially looking for €680,000 (price in the original brochure), then it was €490,000. Now it has dropped it's price to €390,000. I does seem to show that noone knows how to value anything, propertywise, in Ireland anymore IMO Link to MyHome here: https://www.myhome.ie/residential/brochure/main-street-ahascragh-ballinasloe-galway/4257369
PropQueries wrote: I does seem to show that noone knows how to value anything, propertywise, in Ireland anymore IMO
Cyrus wrote: » surely an investment property is valued in relation to its yield? im not sure no one knows how to value anything any more, id argue more expensive stuff outside the more desirable areas is harder.
PropQueries wrote: » Fully agree with that. And, that's where the state comes in relation to property valuations in Ireland. If the state aren't interested in renting a particular property, even in the cities, what's the potential yield and hence the valuations? I think this explains all the empty new built apartments and houses in Dublin. If the state won't rent them or subsidise the rent through HAP etc., the demand simply isn't there for the rents they're seeking, so the potential yields and valuations are all out of whack IMO The state should realise by now that they're the only real customer in town and should act accordingly in their negotiations IMO
Villa05 wrote: » The senior public servant that repeatedly and strongly advised against the shared ownership scheme appears to be moving to the department of health Just saying!
schmittel wrote: » Not sure about the precise taxation position, but the article I linked yesterday highlights a notable difference. The difference in government attitude and thus policy is why investors can get twice the yield in Ireland as they do in Germany.https://www.irishtimes.com/opinion/david-mcwilliams-a-solution-to-irish-house-price-silliness-1.4476967?localLinksEnabled=false
PropQueries wrote: One point he made that I thought was interesting was: "For example, when rents start rising in the German capital, the Berlin authorities impose rent controls. This sends a clear signal to everyone that the State will not tolerate rents that rise far above income – such rents serve only to enrich landowners while penalising everyone else."
Villa05 wrote: » A simple no cost solution to affordabilty Sends a signal to land speculators/hoarders as well. A city's wealth is derived from its people not property. Policy should reflect that. Taxpayers funds provide much of the infrastructure that allows cities to function, yet private funds can hold the taxpayer to ransom for affordable housing while they are the greatest beneficiary of taxpayer funded infrastructure Organised theft
Interested Observer wrote: The Berlin rental market has been a complete mess over the last few years. Rent controls have no solved all their problems and they aren't going to.
Interested Observer wrote: » The Berlin rental market has been a complete mess over the last few years. Rent controls have no solved all their problems and they aren't going to.https://www.irishtimes.com/news/world/europe/berlin-s-rent-cap-could-fall-victim-to-law-of-unintended-consequences-1.4411756https://www.bloombergquint.com/global-economics/berlin-rent-freeze-cuts-prices-but-it-s-harder-to-find-a-flat
In September, the number of Berlin homes for sale was up 13% from the year before, and the increase for those built before 2014 was 23%, ImmoScout reports. Traditionally, Berlin has been a city of tenants, with more than 80% of the population renting. If the trend of buying homes continues, that number will shift toward the national average of about half.
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