derekgine3 wrote: » I'll try be positive about things: Seeing quite a few properties hit the market in multiple areas in Dublin within the past two weeks. Restrictions on viewings haven't even been officially lifted yet, do many people here predict a lot more stock to come on stream within the coming weeks and throughout the summer? If i was a gambling man, i would say yes, whether it's enough to modestly drop prices by a couple of % remains to be seen.
fliball123 wrote: » The only thing is demand, demand will also rocket up if people who were on pup payments come back to the market they have essentially been locked out for the the majority of the lockdown. Its hard to know what way things will turn out.
combat14 wrote: » thats if banks will be rushing to give out mortages to those who have been on covid payments for the last year....
Marius34 wrote: » If we look at the both sides of equation on demand vs supply. I fairly confident there will record high demands on second half of this year from accumulated First Time Buyers (since Celtic tiger). What I'm not sure on level of demands from Council and Investors. What I'm not sure on level of supplies hitting the market from all parties.
bubblypop wrote: » Very thinly veiled there..... It's not 'new arrivals ' that have caused any housing shortage.
First-time buyers will be deprived of the chance to buy almost 300 apartments at one of the country’s biggest new developments. The 282 properties, which are still under construction at the Citywest Quarter development just outside Dublin, have been put up for sale in one block by builder Cairn Homes. ... The proposed Cairn sale is the latest in a series of similar transactions. Last week, the country’s biggest landlord, a property investment company called Ires Reit, snapped up 118 family homes in the Dublin suburbs in a single deal from builder Glenveagh. ... The UN recently criticised the practice of selling homes to investors en masse. In a scathing assessment of the housing market, UN special rapporteur on the right to adequate housing Leilani Farha wrote to the Government, accusing it of facilitating the “financialisation of housing” through preferential tax laws and through weak tenant protections, among other measures.
cnocbui wrote: » The REITs being essential as funders of developments is bogus. In 2019 REITS bought up apartments that had been completed, en masse, without them being offered to the market, bought finished houses and bought apartments under construction. So egregious was this that the UN criticised the Irish government for it.https://www.independent.ie/business/personal-finance/property-mortgages/cuckoo-funds-elbow-young-buyers-out-of-housing-market-37973743.html
schmittel wrote: » If the UN criticised this in 2019 what on earth lit the touch paper in Maynooth to kick off all the reaction this week?
combat14 wrote: » investors might have to be put back in their box and stopped from buying up properties en masse if the ff-fg government are to survive the next election this will have to be done shortly - the level of public outrage even amongst the elderly with houses who typically dont care is unreal
PropQueries wrote: » So costs have increased by over 100% since 2018 as that’s the difference between Sisk Livings costs in 2018 compared to DCC stated costs this year?
Bass Reeves wrote: » Small builder ( foreign national) that is in the house extension market was pricing at 1400/sq meter last year. He has a lot of work lined up so quoted 2k/sqM for a few job's. He quoted for 6 jobs got 4 of them. Materials are supposed to have increased 25-30% in last 6-8 month
EddieN75 wrote: 1/3 of all tenants are getting the bulk of their rent paid by the government (taxpayers) While the other 2/3 are paying extortionate rents and taxes too. Who sounds like they have a better deal
mcsean2163 wrote: It's not racist to have an immigration policy. IMHO, we've benefited enormously from immigration. It's a massive positive but if the system is falling apart the government could easily institute a 6 month immigration pause to enable housing resolution. I don't see why it would be that big a deal if it was phrased in a positive manner.
Villa05 wrote: » Landlords/ladies I think your confusing cause and effect Would it not be housing policy rather than immigration that has failed
combat14 wrote: » We would support a percentage of houses in new developments for sale to first-time buyers,’ says cuckoo funds grouphttps://m.independent.ie/news/we-would-support-a-percentage-of-houses-in-new-developments-for-sale-to-first-time-buyers-sayscuckoo-funds-group-40399417.html how kind of them .... and they are only seeking modest not nose bleed profits too. .... no wonder fg/ff are so keen on the vulture funds lol
“Where it is viable to do so, we would support the concept of a percentage of houses in a residential estate development being required to be available for sale to first time buyers and individual home purchasers generally.”
WhiteWalls wrote: » Is materials going up a way of somehow regulating supply of houses and everyone in the building industry basically milking the system? Simplified version but why would developers/builders build enough houses if doing so will bring down demand and profit margins?
Robson99 wrote: » A lot of things are adding to the costs. Material shortages Shipping costs Some gob****e preventing felling licences in this country Labour shortage. House prices are only going one way and that's up. Developers will stop building if they are not making their margins
beggars_bush wrote: » Huge issue with labour shortages for builders at the moment
Amadan Dubh wrote: » But there is an affordability ceiling with salaries and credit availability. Also, supply at such lows the past year with a lot of individuals putting off selling due to covid restrictions and Brexit uncertainty will start putting their houses on the market for sale. More supply more likely to reduce prices, ignoring the new builds for a moment.
Bass Reeves wrote: There is a finate amount of labour in the he building industry. We have been at 100% employment since before COVID.
