Property Market 2018

Moonjet wrote: »

Meanwhile the foreign investors are going full steam ahead into Irish property.

Foreign investors rush to cash in on our housing crisis
Spiralling rents mean Dublin is now the third-most attractive city in Europe for corporate landlords

https://www.independent.ie/business/personal-finance/property-mortgages/foreign-investors-rush-to-cash-in-on-our-housing-crisis-37596520.html



British real estate firm buys student accommodation development in Cork

https://www.independent.ie/business/commercial-property/british-real-estate-firm-buys-student-accommodation-development-in-cork-37596898.html

Exactly this is not stable home buying we have . Imagine what happens if they rush out just as quick. The carnage would be worse than last time. At least tracker mortgages did some thing to soften the blow for some homeowners . Won't be the case this time . Any shock to our economy and there could be a forest of for sale signs and fire sales on apartment blocks with all this foreign money looking to exit.

Zenify wrote: »

You quoted articles about companies building and adding to the supply. Are these not good trends for the property crises?

Their business model seems to be acquire as much rental property as possible, and charge the highest rent - it doesn't add to the pool of property available to buy. The rent they charge is so high that it catches people in a trap where they can't save a deposit to buy, and are stuck renting long-term hence maximizing return on these investments.



They have no moral consideration for the wellbeing of Irish people or the stability of our economy (and rightly so, they are private enterprise) - that's our government's job which they are catastrophically failing to do. Their only goal is to maximize return for their international clients and that can't be good for our country.

Zenify wrote: »

Did you read the article you posted?

"London-based Round Hill, together with NBK Capital, an investment company in the Middle East, will immediately proceed to construct a mixed-use project on the site, which will include 145 purpose-built student accommodation beds and facilities"

https://m.independent.ie/business/commercial-property/british-real-estate-firm-buys-student-accommodation-development-in-cork-37596898.html

I'm not arguing about their morals just that we should all be happy about building going on.

Of course I read it. My point still stands, these won't make a jot of difference to the supply of property for sale in Ireland. They are implementing a long-term rental business model.

Moonjet wrote: »

Of course I read it. My point still stands, these won't make a jot of difference to the supply of property for sale in Ireland.

If someone built 10,000 apartments in Dublin - for rent only, not for sale - what do you think would happen to the sale price of apartments? What do you think would happen to the sale price of houses?

RayCun wrote: »

If someone built 10,000 apartments in Dublin - for rent only, not for sale - what do you think would happen to the sale price of apartments? What do you think would happen to the sale price of houses?

But this is in magical lefty land where all landlords are fatcats and the government is robbing from us all.

RayCun wrote:

If someone built 10,000 apartments in Dublin - for rent only, not for sale - what do you think would happen to the sale price of apartments? What do you think would happen to the sale price of houses?

Rent and property prices would return to affordable/sustainable levels

Balancing supply and demand would prevent the type of crash that happened in 08 to 12

Economic Competitivenes would be improved considerably. Housing costs under the current system are seen as a barrier to future investment which requires employing large amounts of people

Some reits have expressed concern at the rate of inflation in rents/property prices and are looking elsewhere for future investment

People could live closer to their workplace, this would allow for expansion of public transport allowing it to become more efficient and profitable.
It would also negate the need for motorway projects such as widening of the m7.
Less cars and commutes would help Ireland meet its carbon emissions targets, thus avoiding large annual fines from the EU

Huge reduction in the money paid to private landlords/hotels from the state. This money then can be used to acquire permanent assets for the state.
State can generate income in the form of rent at affordable rates from working people. If managed correctly housing can become revenue positive for the state as opposed to the current situation where it is a drag on her finances

ELM327 wrote:

But this is in magical lefty land where all landlords are fatcats and the government is robbing from us all.

Increasing supply where there is an imbalance is responding to market forces. Is that lefty?

beaz2018 wrote: »

https://www.irishtimes.com/life-and-style/homes-and-property/property-experts-predict-steady-but-unspectacular-property-growth-in-2019-1.3718587

Some very interesting stuff in this like agents having to lay off staff and 2018 being a tough year for sales. Feels like too many people are wary of getting over exposed this time and so the estate agents are rowing back prices to make sales. Expect more affordable asking prices in 2019.

Same author wrote an interesting article in 2005 about demand continuing due to population growth etc and property being a safe and stable investment for one and all. Sherry Fitz chief economist. Needless to say I'd say there is a rather positive outlook taken of the current market by the author.

https://www.irishtimes.com/life-and-style/homes-and-property/prices-up-15-in-2005-and-growth-will-continue-1.1288629

dor843088 wrote: »

Same author wrote an interesting article in 2005 about demand continuing due to population growth etc and property being a safe and stable investment for one and all. Sherry Fitz chief economist. Needless to say I'd say there is a rather positive outlook taken of the current market by the author.

https://www.irishtimes.com/life-and-style/homes-and-property/prices-up-15-in-2005-and-growth-will-continue-1.1288629

fake news?

Zenify wrote: »

mkdon wrote: »

dor843088 wrote: »

Same author wrote an interesting article in 2005 about demand continuing due to population growth etc and property being a safe and stable investment for one and all. Sherry Fitz chief economist. Needless to say I'd say there is a rather positive outlook taken of the current market by the author.

https://www.irishtimes.com/life-and-style/homes-and-property/prices-up-15-in-2005-and-growth-will-continue-1.1288629

fake news?

There is no author...? Its quotes from estate agents....

My mistake, wrong article

kippy wrote: »

Obviously this would depend on the area you are in but I wouldn't expect prices to drop back in any way in the Dublin area or indeed any of the major cities. Why would they? Demand is still high and supply is low.

but people can only borrow so much now before they reach their limit..

oceanman wrote: »

but people can only borrow so much now before they reach their limit..

can someone forward the article can't read it it's blocked unless subcrobeed payer

You can see the desperation on this thread, first time buyers angry at the quite knowledgeable posters for not saying there will be a decrease in prices. Dreaming of a crash, so they can buy their dream house in clontarf for 250k. Not gonna happen.

Agree 100% with you. It's wishful thinking. Trump has been in office 2 years (half his elected term) and Irish property prices have risen over 20% since 2016. Brexit could just as easily cause Irish property to boom though multinationals in the finance sector relocating here over the next 10 years. It could also hit our economy and result in another recession causing property to crash. That's the thing, nobody know yet. I would be highly suspect of anyone who claims to predict the impact of Brexit with any degree of accuracy.

I know times are desperate in the rental and FTB market but Trump and Brexit aren't the saviors, and won't result in any meaningful solution to our property crisis. We need to look closer to home.

agree 100% there is vested interest in house prices going up

is there another few links for the estate agents being let go due to downturn in business outside the link sent on earlier


I have definitely seen a shift and a feel that many are waiting to see how brexit plays out

a slow down in increases is even predicted by the experts but even the experts haven't got the foggiest what will happen with brexit



quote="Zenify;108812151"]I live in a 3 bed semi in south Dublin with my partner rent free and have this set up at least for another 4 years. Theres no "desperation" from me.

I've been following the property market for the last 2 and a half years and going to viewings and putting bids on. Our price range has been 350k - 470k. I cant talk for any other market than this. I haven't bought yet as theres no value and I'm not going to bid more for a property than what it's worth in my view. Also the longer I stay here, the more I save and the better value is in property higher up.

There has been a big change in the market in the second half of this year as many posters here have said too. A big change is not a crash, it's more of a feeling that the power is moving from seller to buyer.

The desperation here in my view seems to be coming from the other side. A recent poster put up an article from Irelands top estate agents about a slowdown in the second half of this year (agrees with what a lot of people here have been saying) and the only way to reply was trying to discredit the author??? These people also have a vested interest in high prices. I haven't got a clue what the property market is going to do next year, nobody does. Anybody trying to say its definitely going to go up or down probably knows even less.[/quote]