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

I always found that funny too. Its human nature though.

The parent who might have given a class on something once in their live to 5 year olds telling the principle of the school who might have 40 years coal face experience everything that they are doing everything wrong.

Someone who might have had a few bouts in amateur boxing telling us what Tyson Fury SHOULD be doing and what he has been doing wrong, when Fury has hundreds of years worth of professional experience at a world level in his corner advising him in real time.

Recent example. My friends from the UK who played a few football matches down the park, watching the match in the pub, screaming at Gareth Southgate and then going into detail how he should manage the England squad as if he has less experience than they do.

Those of us who have experience buying a house or two in our lifetimes thinking we somehow know more about it than a company who have been involved in buying and selling houses. Sometimes you just have to be aware that you are not as experienced or knowledgeable as you think you are and the professionals are most likely far better at this than you could ever hope to be.

In Ireland now everybody is an expert economist, an expert politician, and expert developer or an expert estate agent. Its just that they are doing it from their keyboard with little to know experience at all.

This is a strange one → https://www.daft.ie/for-sale/detached-house-17-barnwell-avenue-clonsilla-dublin-15/5751977

It was only bought a couple of years ago, now selling at 100k loss? I'd love to know what the story is here.

I seen that, but to write off 100k so quickly?

Edit: I did a quick image search, you're right, same pics from a couple of years ago https://www.myhome.ie/residential/brochure/17-barnwell-avenue-clonsilla-dublin-15/4585075

What are the barriers to entry into the profession? State regulated apprenticeship program? A series of rigorous professional exams? Meaningful requirements for ongoing CPD credits?

A lot of those "professionals" spent the mid-2000s basking in their genius only to crash and burn in 2009.

I wouldn't be giving them too much credit. All they know is what the other property on their books went for recently. Which - while somewhat useful - is probably something that a person looking for a house will be even more in tune with as they will be looking at all property from all agents

"The property is being sold with tenant in situ. We understand the rental income is €2,000 per month (€1,912 paid by HAP & €88 paid by tenant)"

Could they not break HAP down by linking to the deprivation indices or something? HAP is the main reason that apartments in areas that might have been affordable for workers are looking for 2k a month, the same as some apartments in the likes of Clontarf. It's killing workers who's choices are live near your job and pay a fortune, or move to Navan or somewhere similar.

Before HAP a worker might have had the choice of a happy medium, Santry or Clonee or Tallaght. Now everywhere is 2k a month.

https://www.daft.ie/for-sale/duplex-apartment-51-castlegrange-green-castaheany/5753872

I don't know about the rest of you, but to see a situation where a person on over 100k a year still qualifies as needing a subsidized affordable house in bleedin' Coolock is mental.

Coolock. Earning 100k and still have to be helped to pay for the property…..on what was previously public land.

Join us in 2025 when we will hear from John who has just happily learned that he will qualify for an affordable caravan on a roundabout just outside the M50 under the governments new affordable caravan scheme. The recent raise in scheme income limits to 200k was just enough to bring John in under the threshold.

Theres nothing wrong with Coolock, or subsidized affordable housing, but someone earning €100k in 2024 is in the top 7% of individual earners in the country.

Coolock is most certainly is not in the top 7% of desireable locations in the country.

Subsidized affordable housing in working class areas should be affordable for working class people.

Those working class people just need to spend more time working and less time eating avocados……or something like that

The Tanaiste defence of the pricing is even more deluded.

Despite being built in state land meaning 0 cost site saving 75k. The development is built entirely for state schemes so 0 risk to the developer which they cost at circa 15% another 75k. I assume development levies and water connections are waived saving another 30k.

Total savings per unit 180k and the price is still close to half a million.

The justification is that the buyer can get up to 130k in subsidies thus bringing the price down to 275k for the 1 bed units

Total state subsidies for a 1bed apartment, 130 + 180k =300k so that the purchaser can get a 1 bed for 275k

Is there any adult in the room. This is nuts.

He said that First Homes scheme and the Help to Buy scheme could reduce the price of a €400,000 home to €270,000

Most Western countries have similar issues with housing, though Ireland the UK are seemingly worse. We all know why it is, but we're meant to ignore that.

Presumably, I think you need vacant possession to get a mortgage.

Just seems like a weird one. Why spend so much in the first place if the plan is to rent it out?

Could have bought a 3 bed near there for around 375k and got a way better yield.

Shocked to hear about this scheme on radio today low income workers earning 104k a year can get assistance to buy 3 bed house Coolough at a reduced rate of 470k.

It didn't say how many of these houses are for sale. 10s 100s ? But sounded like big demand. Is 104k classified as low income all over county or just Dublin?

This level of gov assistance can't be sustainable is the idea anyone less than 100k would need HAP or Council house