Property Market 2019

Dublin 8 / Dublin 12 price bracket < 350k still seems very competitive to me

Valhallapt wrote: »

Selling a house in naas atm, spoke to 3 agents before listing, all said the market has gone very slow.

Massive supply of new homes coming on stream in naas, so local conditions are probably playing a part in the slowdown too.

Hopefully I get what I’m asking!

when you say massive supply how many we talking can you provide the details as devil is in detail

The_Conductor wrote: »

The discount that you have to price at (below the price of new builds) is increasing (nationally). You have to factor both better insulation (BER etc) into the equation- along with the fact that you have a much smaller market (aka first time buyers have only limited interest- as it doesn't qualify for their inducement).

The dicotomy is producing very different markets even in the same locality- and resulting in first time buyers being lumped into new built estates- and older more developed areas- being ring fenced for other demographics.

When you factor council/housing association purchases into the equation- we're storing up significant resentment in localities in future years..........

I agree, however older houses tend to be larger than newer builds and this goes double for outdoor space as developers continue to shrink the footprint of houses which has resulted in an observable increase in 3 story houses.

el Fenomeno wrote: »

Why can't the independent publish a single article about the housing situation without mentioning the term "cuckoo funds"? This is their own self-penned phrase which they seem desperate to catch on.

+1. I also find it extremely annoying - seems like it’s became their way of sounding like market insiders who know the fancy works no one else does. Except at this stage it’s pretty clear it is mostly their own obsession.

The Student wrote: »

Looks like prices are going to rise again?

https://www.independent.ie/business/irish/construction-workers-set-to-get-5pc-pay-rise-within-two-years-38098700.html

I can't even click. I am so dejected by the whole bloody thing. Goalposts just keep shifting and rent keeps going up.:(

Zenify wrote: »

A developer doesnt price a job on its cost. Its priced on the max people are willing to pay.

If the max people are willing to pay is less than the cost to build (including construction workers wages) and still make reasonable profit, they just won't build - constricting supply. So either way prices rise by some degree.

Jaster Rogue wrote: »

If the max people are willing to pay is less than the cost to build (including construction workers wages) and still make reasonable profit, they just won't build - constricting supply. So either way prices rise by some degree.

I was going to add that point myself but you could go on forever. If builders wont make as much from a development then they will bid less for the land. People will say the land owners wont sell. There is an endless amount of variables but I think the biggest variable in property prices is how much money the buyers have.

beauf wrote: »

The only way to solve this is slow down the economy, for sustainable growth. No politician wants to take that on.

I was listening to the radio earlier on this topic and they had a senior economist talking about the housing situation.

We simply do not have enough builders to build what we need, in the past Eastern Europeans (mostly Polish) came to fill the gap but due to our high cost of living and the Polish economy going well they don't need to come to Ireland.

Perhaps we should look at better utilizing the properties we already have or at least the properties where existing infrastructure already exists.

The_Conductor wrote: »

+1
We need high density, high volume residential accommodation output- esp. in city centers. Dublin is a special issue- and needs highrise, high density developments- as central as possible- where people do not need to commute. Ideally- as large as possible a portion of this should be affordable housing- and certain professions (I'd argue doctors, nurses, teachers- and anyone in fulltime gainful employment of under 40k gross per annum) should get priority.

Dublin city council- was under the control of political entities who were diametrically opposed to development (the Greens) for too long- and despite having access to considerable redevelopment funds- didn't draw on them.

Perhaps the time to ask the question- whether or not local authority housing should be formally nationalised- is now- as the piecemeal approach on a council by council, local authority basis- has not worked.

Against this backdrop- we have the government investing 9-10 billion in infrastructure projects- when we don't have the available workforce for building our accommodation needs. Surely- parking infrastructure projects for a rainy day- might make more sense?

I saw an article the other day in the indo saying that planning applications for over 6000 properties had been lodged in the previous 5 days. The article spun it to sound like a bad thing by saying how nearly half of them are being built buy to let and will never go on sale to families. I mean you can't win. People can't find a place to live in Dublin but they still complain when the only people with the resources to build try and build.

The_Conductor wrote: »

+1
We need high density, high volume residential accommodation output- esp. in city centers. Dublin is a special issue- and needs highrise, high density developments- as central as possible- where people do not need to commute. Ideally- as large as possible a portion of this should be affordable housing- and certain professions (I'd argue doctors, nurses, teachers- and anyone in fulltime gainful employment of under 40k gross per annum) should get priority.

Dublin city council- was under the control of political entities who were diametrically opposed to development (the Greens) for too long- and despite having access to considerable redevelopment funds- didn't draw on them.

Perhaps the time to ask the question- whether or not local authority housing should be formally nationalised- is now- as the piecemeal approach on a council by council, local authority basis- has not worked.

Against this backdrop- we have the government investing 9-10 billion in infrastructure projects- when we don't have the available workforce for building our accommodation needs. Surely- parking infrastructure projects for a rainy day- might make more sense?

In public people will agree we need high density but in private NIMBYism is alive and well.

I firmly believe we need a cultural change before we start building large scale local authority housing. If we don't get this change we will have Ballymun, Tallaght, St Michaels Estate anti social issues in the coming years.

If you are a tenant be it council or private and you cause anti social issues then you are evicted full stop. If we as a State feel we must house people then anybody guilty of anti social behavior is housed in a rural location where they can't terrorize others.

Do you honestly see any politician ever voting for a changes in the law which would end up in someone being evicted from a property. This would be political suicide.

I agree we should not be investing in infrastructure until we get our housing situation resolved but this will not win votes. We have TD's who want Rural Broadband at a cost to the State of over €2b and a private investment of €200m and yet the State will own nothing of the infrastructure.

TD's are looking for the infrastructure to balance the economic activity in Ireland rather than having it just in the East coast.