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Where all the houses gone?

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  • 04-11-2019 1:32pm
    #1
    mcbert
    Registered Users Posts: 460 ✭✭


    Galway city, west side, looking for a 4/5 bed 2nd hand.

    Market is dead.

    If prices are static or falling slightly, and recession/brexit perhaps on the way, what are people waiting for if they are thinking of selling?

    Likewise, with new builds under construction, why would sellers wait for them to be built, why not try sell up before they go on the market?

    Ok, I understand people deciding not to sell at all, cancelling their plan for a few years. Fine. But surely not everyone can do that, and I dont quite understand people seeing trouble on the horizon, and thinking, 'lets wait a few months and see, be sure things are bad before we sell'.

    I see some EAs not bothering to mark their property as sale agreed on Daft, I suppose to make themselves look busier than they really are.

    All we see are a few houses now, above our budget and arent shifting. Last year was much better.

    Its frustrating. Put your damn house up for sale, and ill go take a look next day...


«1

Comments

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    #2
    Marius34
    Registered Users Posts: 1,173 ✭✭✭Marius34


    mcbert wrote: »
    I dont quite understand people seeing trouble on the horizon, and thinking, 'lets wait a few months and see, be sure things are bad before we sell'.

    I see there are quite a few 4/5 bed houses in Galway west.
    You probably won't see many of houses put on sale until February. It's a bad months for Sale. Dark short days, cold and wet.
    In addition from the Sellers perspective, the main worry was expected No-Deal Brexit, which since middle of October doesn't seem to be a case anymore, thus recession is not expect from the Brexit(with deal) in itself. I would think this is main reason why many sellers would not be in rush to sell at the moment.


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    #3
    SozBbz
    Registered Users Posts: 1,889 ✭✭✭SozBbz


    Not that I'm a seller or in your area, but if I was only thinking about selling my house, I wouldn't put it on now until the 3rd week in Jan at the earliest.

    I wouldnt expect to see much new to market between now and then. If by end of Feb nothing is stirring, then you're right.


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    #4
    PhoenixParker
    Registered Users Posts: 2,671 ✭✭✭PhoenixParker


    4&5 bed houses on the west side of Galway don't get sold, they get inherited. Obviously a few do end up being sold but far fewer than would be typical in a city that size. Most decent sized family houses get bought out by one of the family.


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    #5
    mcbert
    Registered Users Posts: 460 ✭✭mcbert


    PhoenixParker wrote: »
    4&5 bed houses on the west side of Galway don't get sold, they get inherited. Obviously a few do end up being sold but far fewer than would be typical in a city that size. Most decent sized family houses get bought out by one of the family.

    Thanks. That's interesting. Makes some sense I suppose although I still think last year was better.


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    #6
    riclad
    Registered Users Posts: 8,184 ✭✭✭riclad


    How many 4 bed house, s are built in galway very few,
    look for a 3 bed house, with a large front room, and a utility room, most builder,s build a house, with 3 bedrooms and maybe a utility room ,or an extra room beside the kitchen , as well as the front room .
    or just go house size,
    eg i want a house at least 1000 sq ft .
    you could be waiting a long time for a 4 bed house unless you have
    alot of money to spend .
    one off house,s tend to be bigger , outside the city centre .
    look on daft.ie 3 bed .


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    #7
    what_traffic
    Registered Users Posts: 4,868 ✭✭✭what_traffic


    mcbert wrote: »
    Galway city, west side, looking for a 4/5 bed 2nd hand.

    Market is dead.
    Agree in established areas. How far West is the key? Established areas very little on offer - Availability in KnocknaCarra is pretty high though especially for 4 bed.


  • Options
    #8
    Quadrivium
    Registered Users Posts: 213 ✭✭Quadrivium


    mcbert wrote: »
    Galway city, west side, looking for a 4/5 bed 2nd hand.

    Market is dead.

    If prices are static or falling slightly, and recession/brexit perhaps on the way, what are people waiting for if they are thinking of selling?

    Likewise, with new builds under construction, why would sellers wait for them to be built, why not try sell up before they go on the market?

    Ok, I understand people deciding not to sell at all, cancelling their plan for a few years. Fine. But surely not everyone can do that, and I dont quite understand people seeing trouble on the horizon, and thinking, 'lets wait a few months and see, be sure things are bad before we sell'.

    I see some EAs not bothering to mark their property as sale agreed on Daft, I suppose to make themselves look busier than they really are.

    All we see are a few houses now, above our budget and arent shifting. Last year was much better.

    Its frustrating. Put your damn house up for sale, and ill go take a look next day...

    Over 1 million immigrants have arrived in Ireland over the last 15 years.
    The conservative estimate for persons per house is 3 per house.
    That would mean 333,000 houses should have been built to accommodate the increase in population over the last 10 to 15 years but we haven't even managed 20,000 house builds per year over the last 10 years.

    Demand in the housing market is still astronomical and it will not end until immigration is controlled or stopped.


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    #9
    un5byh7sqpd2x0
    Closed Accounts Posts: 1,862 ✭✭✭un5byh7sqpd2x0


    Quadrivium wrote: »
    Over 1 million immigrants have arrived in Ireland over the last 15 years.
    The conservative estimate for persons per house is 3 per house.
    That would mean 333,000 houses should have been built to accommodate the increase in population over the last 10 to 15 years but we haven't even managed 20,000 house builds per year over the last 10 years.

    Demand in the housing market is still astronomical and it will not end until immigration is controlled or stopped.

    Where are your figures coming from? Your arse?


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    #10
    Mrs OBumble
    Registered Users Posts: 25,668 ✭✭✭✭Mrs OBumble


    Quadrivium wrote: »
    Over 1 million immigrants have arrived in Ireland over the last 15 years.

    And how many left again when the bottom fell out of the economy in 2009?


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    #11
    Quadrivium
    Registered Users Posts: 213 ✭✭Quadrivium


    Lacey Bitter Tension wrote: »
    Where are your figures coming from? Your arse?

    Is that what they call the Central Statistics Office these days?

    180,000 pps numbers were issued to non Nationals in 2018 alone, hello! Wakey wakey, have you been living in a cave or you don't have eyes? Mass immigration to Ireland is happening and it's been happening for almost 20 years, the negative social impact is just beginning...it's only gonna get worse.


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    #12
    Quadrivium
    Registered Users Posts: 213 ✭✭Quadrivium


    Mrs OBumble wrote: »
    And how many left again when the bottom fell out of the economy in 2009?

    Estimates range around 200,000 that left pre 2012 but 600,000 arrived since 2013.


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    #13
    Mrs OBumble
    Registered Users Posts: 25,668 ✭✭✭✭Mrs OBumble


    Quadrivium wrote: »
    Estimates range around 200,000 that left pre 2012 but 600,000 arrived since 2013.


    That's not what this page says: https://www.cso.ie/en/releasesandpublications/er/pme/populationandmigrationestimatesapril2019/

    PME2019FIG1.png


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    #14
    Dav010
    Registered Users Posts: 14,001 ✭✭✭✭Dav010


    Mrs OBumble wrote: »
    That's not what this page says: https://www.cso.ie/en/releasesandpublications/er/pme/populationandmigrationestimatesapril2019/

    PME2019FIG1.png

    I’m not a statistician, but that graph does seem to back up what the poster’s claim about pre 2013 emigration (200k) and post immigration (600k).


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    #15
    mcbert
    Registered Users Posts: 460 ✭✭mcbert


    This nonsense has got nothing to do with this thread. Don't feed the troll. Lack of 4/5 bed homes for sale in galway city has nothing to do with immigration.


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    #16
    Dav010
    Registered Users Posts: 14,001 ✭✭✭✭Dav010


    mcbert wrote: »
    This nonsense has got nothing to do with this thread. Don't feed the troll. Lack of 4/5 bed homes for sale in galway city has nothing to do with immigration.

    You don’t believe an increase in population can have an effect on housing stock? An improved economy & net immigration increases population and means more people looking for property and more people have the means to retain/buy homes. Owners don’t have to sell, they are not having to emigrate/migrate for work, and when they do sell, more people can afford to buy it.


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    #17
    mcbert
    Registered Users Posts: 460 ✭✭mcbert


    Great. The anti-foreigner, ireland-for-the-irish morons are busy this morning. Now I have to unfollow my own thread.


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    #18
    listermint
    Registered Users Posts: 33,613 ✭✭✭✭listermint


    Dav010 wrote: »
    You don’t believe an increase in population can have an effect on housing stock? An improved economy & net immigration increases population and means more people looking for property and more people have the means to retain/buy homes. Owners don’t have to sell, they are not having to emigrate/migrate for work, and when they do sell, more people can afford to buy it.

    You lads are as boring as the day is long


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    #19
    whisky_galore
    Registered Users Posts: 15,735 ✭✭✭✭whisky_galore


    Ah yes, all these immigrants arriving in containers with just the clothes on their backs are buying up all the housing stock on the poor old Irish...yep that's it.


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    #20
    listermint
    Registered Users Posts: 33,613 ✭✭✭✭listermint


    whisky_galore wrote: »
    Ah yes, all these immigrants arriving in containers with just the clothes on their backs are buying up all the housing stock on the poor old Irish...yep that's it.

    George Soros is funding their property purchases.


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    #21
    Blueshoe
    Banned (with Prison Access) Posts: 3,964 ✭✭✭Blueshoe


    whisky_galore wrote: »
    Ah yes, all these immigrants arriving in containers with just the clothes on their backs are buying up all the housing stock on the poor old Irish...yep that's it.

    Don't be silly and deflecting. It's painfully obvious that more people = more housing needed. But those houses aren't being built. The available stock becomes more expensive. Basic supply and demand.


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    #22
    beauf
    Closed Accounts Posts: 22,651 ✭✭✭✭beauf


    whisky_galore wrote: »
    Ah yes, all these immigrants arriving in containers with just the clothes on their backs are buying up all the housing stock on the poor old Irish...yep that's it.

    A lot of people have moved here because we have shortage in high paid jobs like medicine or IT. Often they are well educated, good experience, and often quite well off before they get here. Some are business people and are quite successful here. They are just as likely to invest in property as anyone else.


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    #23
    beauf
    Closed Accounts Posts: 22,651 ✭✭✭✭beauf


    mcbert wrote: »
    Great. The anti-foreigner, ireland-for-the-irish morons are busy this morning. Now I have to unfollow my own thread.

    Maybe you tell us the answer you want to hear so people can oblige.


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    #24
    beauf
    Closed Accounts Posts: 22,651 ✭✭✭✭beauf


    It's expensive to build (tax) hard to get finance, market uncertain, and people are looking for housing that has the least profit in it. Most developers will be wary.


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    #25
    Nika Bolokov
    Registered Users Posts: 651 ✭✭✭Nika Bolokov


    Growing population.

    Sellers not in the main under pressure to sell.

    If buyers are limited in how much they can borrow and prices are static than there is very limited incentive for owners to sell especially if they have bought in the last 3 to 5 years.

    High construction costs including concrete being twice the price it is in the UK mean limited margins for developers with not much incentive to build on sites bought after 2014.


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    #26
    L1011
    Moderators, Business & Finance Moderators, Motoring & Transport Moderators, Society & Culture Moderators Posts: 67,622 Mod ✭✭✭✭L1011


    Take the immigration talk elsewhere


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    #27
    Mad_maxx
    Registered Users Posts: 13,505 ✭✭✭✭Mad_maxx


    whisky_galore wrote: »
    Ah yes, all these immigrants arriving in containers with just the clothes on their backs are buying up all the housing stock on the poor old Irish...yep that's it.

    Since when does needing a roof over one's head mean you must buy a house?


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    #28
    whisky_galore
    Registered Users Posts: 15,735 ✭✭✭✭whisky_galore


    Mad_maxx wrote: »
    Since when does needing a roof over one's head mean you must buy a house?

    The sarcasm eludes you.


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    #29
    Mad_maxx
    Registered Users Posts: 13,505 ✭✭✭✭Mad_maxx


    whisky_galore wrote: »
    The sarcasm eludes you.

    Nah, just exposing the fallacy that merely not having the means to buy a house renders one having no effect upon housing availability


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    #30
    Dav010
    Registered Users Posts: 14,001 ✭✭✭✭Dav010


    mcbert wrote: »
    Great. The anti-foreigner, ireland-for-the-irish morons are busy this morning. Now I have to unfollow my own thread.

    What are you looking for?

    I would presume those CSO figures relate to immigration irrespective of nationality, and includes Irish. During the recession emigration increased while stock remained static so there were fewer people to buy, and fewer people who could afford to. Now that trend has reversed, but again stock has stayed relatively static so fewer people selling, more people buying.

    You started a thread to get opinions on the question you asked, it’s pretty rude to then take the piss when people reply.


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    #31
    L1011
    Moderators, Business & Finance Moderators, Motoring & Transport Moderators, Society & Culture Moderators Posts: 67,622 Mod ✭✭✭✭L1011


    L1011 wrote: »
    Take the immigration talk elsewhere

    Ahem. Should be cards flying like that old Royal Mail Christmas ad now, and there will be if the immigration stuff continues.


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