Irish Property Market chat II - *read mod note post #1 before posting*

You have no idea of my personal circumstances nor do I of yours. I am just pointing out that a downturn doesn’t impact everyone the same way and if MNC’s lost jobs it would also be felt by people not working In Them. Whether it be increase in tax or a slow down at work

Which was the point of the original article, when developers are stopping, Gov be ready with shovel ready projects when builders are idle

It's also important to understand why projects are potentially put on hold. Cian o Callaghan explains it well below on Pat Kenny

Basically lobbyists are campaigning for lower standards on the promise of cheaper housing, then developers are submitting planning with more units, they then flip the land at a much higher price resulting in lower standards leading to higher prices.

All the main lobbyists are former ffg politicians for developers, banks, investment funds and landowners

It's also notable that raw materials have collapsed in price over the past 4 to 6 weeks in anticipation of recession

And how do you intend to regulate house prices. Who decides what is a fair price. Not all houses that are sold are build, you have houses in different conditions for sale, some need as much or more than what they are paid for in upgrades

If tomorrow morning we decided that there was a housing agency that would decide on a maximum price for all houses. What would happen. Money would be handed under the table and only benefit those that had money left over after the deposit.

At present on one off houses there is massive resistance to present building costs. I know of houses that have come to a full stop at wallpaper level. Houses with windows installed and have come to a complete stop. A plumber said he had 10 houses where the preliminary pipe work was complete and the building have stopped. Similar I have heard of electricians who have multiple houses chased and the complete job has stopped.

Unfortunately our build costs due to regulation, energy rating and size in many cases have become unaffordable. Materials have escalated in price exponentially. Some of this is due to supply, some due to increased supplier margin. Labour has increased exponentially as well.

Twenty years ago planning and development costs were about 2-3k for a one off houses. Now it's nearer 15k. And you chance of getting planning is 20-40% less. The real cost when everything is factored in is nearer 25k

its fair to say the estate agents involved should have a decent handle on prices in galway, its also fair to say that someone looking to build something similar, if they could get planning wont have much change from the asking price. Be interesting to see what they go for, they do seem toppy but i have given up being surprised at the prices paid (for new builds especially).

Well could it be that they might be able to afford to buy a house in the future in a different country, I dont know just saying what I see on the ground and wondering if anyone else is seeing a similar pattern.A agree with Dav people always head off for the year or so but its the first time I heard lads saying they wont be back.

Eliminate all policies that increase price and push up land prices

Copy and paste Northern Ireland's independent low cost regulation model

Introduce a tax that covers the environmental and energy benefits of new homes. The tax would be based on the increasing savings of such technologies. The tax will be no greater than the benefit in financial terms and tied to the home. In effect 0 cost max energy rating.

Introduction of such measures may put us on track for a median income couple to be able to afford there own home in most areas.

For people under this income threshold, state build on state land for affordable rent prioritising working couples. The trickle down effect of increased supply eventually benefits all and for the state housing becomes a revenue stream rather than a yearly escalating cost

A number of posters asked why young people would leave for Canada/Aus/New Zealand to escape High housing costs in Ireland. The answer may well be in the recently completed construction defects report

The state systems facilitate cowboy builders to build rubbish/firetraps through the use of shell companies. The shell companies are dissolved on completion of the project and the developers are held unaccountable for any defects

Not only are they unaccountable, but serial offenders continue to operate today, many are "reputable" members of the Construction Industry Federation which through there ex ffgpd politician leader lobby the government for favourable conditions that benefit their industry

The investigative panel attempted to find other redress schemes across the world that they could model ours on, however they could find none. This is guaranteed Irish problem

Who would make the biggest purchase of their lives in such a market? Knowingly flouting fire regulations should be classed as mass attempted murder and be a criminal offence. Operators on medical device assembly lines are criminally liable for poor work