Property Market 2018

Bluefoam

Redneck Culchie wrote: »

Imagine comparing Dublin to New York or London. Another planet the Dubs live on. I would love if the American MNC's piss off to somewhere with cheaper tax. Their pathetic house of cards would collapse.

lol

Cyrus

Redneck Culchie wrote: »

Imagine comparing Dublin to New York or London. Another planet the Dubs live on. I would love if the American MNC's piss off to somewhere with cheaper tax. Their pathetic house of cards would collapse.

Looks like your problems are everyone else’s fault , where do you think all the money comes from to pay your job seekers allowance ?

Mickiemcfist

Redneck Culchie wrote: »

Don't think anyone is suggesting Facebook, Google etc move to small towns. I think that is just a straw man from Dubs intent continuing their one city state mentality.

I would prefer if people were just honest in their opinions, they only care about Dublin thriving. If 80% of the rest of the country burned down they would barely notice. In that sense it is very similar to the London vs England mentality.

Don't think you're right on that. I live in Dublin & hopefully always will, I have a good job & good prospects here, but every time I see another 100+ jobs announced here I shudder to think of where they will live. They're only driving up cost of living & housing for the rest of us.

It's a catch 22, companies with highly skilled jobs won't go to Kilkenny/Waterford etc. as there's no jobs/employee market & there's no jobs market because companies supporting those jobs are not there.

Someone above called it spot on, there needs to be a serious effort to get high growth companies with 50-100 staff to go to the tertiary cities & the market can grow that way. If I was Minister for finance I'd seriously consider a two tiered corporation tax system - one rate for Dublin & a lower rate for others, where your mean staff salary is above a certain threshold.

RayCun

Redneck Culchie wrote: »

Imagine comparing Dublin to New York or London. Another planet the Dubs live on. I would love if the American MNC's piss off to somewhere with cheaper tax. Their pathetic house of cards would collapse.

Ressentiment, elections manager for the Healy-Raes :rolleyes:

Redneck Culchie

Cyrus wrote: »

Looks like your problems are everyone else’s fault , where do you think all the money comes from to pay your job seekers allowance ?

Probably the same place that had to bailout the bankers and that are grandchildren will still be paying off long into the future.

Cyrus

Redneck Culchie wrote: »

Probably the same place that had to bailout the bankers and that are grandchildren will still be paying off long into the future.

If they get themselves a job?!?

L1011

Some recent posts are completely unacceptable and will be deleted. Continued posting of that type will result in cards

Mrnew

Redneck Culchie wrote: »

Clueless BS and lies. You have probably never left the City in years. Limerick and Sligo thriving ? haha. Sligo is an absolute kip one of the only places in Ireland losing population. Limerick has massive unemployment. You are living in some Walter Mitty world you read on the latest Fine Gael email.

I always wonder why Sligo is going that way. they did try to invest in Sligo with Pharma companies. wonder would a direct motor way to Dublin or Galway do it any good and try to revive it.

Redneck Culchie

L1011 wrote: »

Some recent posts are completely unacceptable and will be deleted. Continued posting of that type will result in cards

It's okay for some to attack the unemployed and homeless though apparently? Let them. Anyone that spends their time online attacking the unemployed and homeless, like a certain element, must have a very sad life.

AlmightyCushion

Redneck Culchie wrote: »

Don't think anyone is suggesting Facebook, Google etc move to small towns. I think that is just a straw man from Dubs intent continuing their one city state mentality.

I would prefer if people were just honest in their opinions, they only care about Dublin thriving. If 80% of the rest of the country burned down they would barely notice. In that sense it is very similar to the London vs England mentality.

I'm a culchie living in Dublin and I would very much like to see the regional towns/cities grow. Saying that, whenever a MNC announces loads of jobs for Dublin it always comes up that the government should be telling them they can't open up in Dublin and have to go somewhere down the country (The government can't even do that but regardless). Instead we should be trying to get smaller companies/divisions to open up in these regional towns/cities and then help and encourage those companies to grow their business there.

Redneck Culchie wrote: »

Clueless BS and lies. You have probably never left the City in years. Limerick and Sligo thriving ? haha. Sligo is an absolute kip one of the only places in Ireland losing population. Limerick has massive unemployment. You are living in some Walter Mitty world you read on the latest Fine Gael email.

I'm from Sligo, the downturn hit Sligo bad and it still hasn't recovered at all. It sucks. Saying that we did get some positive job announcements from a few different companies over the space of a few months so things are looking up there. Hopefully, it continues.

L1011

Redneck Culchie wrote: »

It's okay for some to attack the unemployed and homeless though apparently? Let them. Anyone that spends their time online attacking the unemployed and homeless, like a certain element, must have a very sad life.

If you have an issue with posts, report them - as yours were by others

AlmightyCushion

Mrnew wrote: »

I always wonder why Sligo is going that way. they did try to invest in Sligo with Pharma companies. wonder would a direct motor way to Dublin or Galway do it any good and try to revive it.

I don't think knocking 20 minutes off the trip to Dublin would do much for employment in Sligo, it would make it a bit handier for all the people who moved to Dublin when they're going back home though I think most of the pharma jobs were actually pretty low end factory jobs which are always going to be difficult to retain in a high cost country like Ireland. The IT there is pretty good and does churn out a lot of IT and Engineering grads that inevitably end up moving somewhere else. I think Sligo should try and utilise that and attract those types of companies to the area. Those are jobs that are more likely to last and grow. If you get a small cluster of those then it can snowball and encourage more to open up.

Redneck Culchie

AlmightyCushion wrote: »

I'm a culchie living in Dublin and I would very much like to see the regional towns/cities grow. Saying that, whenever a MNC announces loads of jobs for Dublin it always comes up that the government should be telling them they can't open up in Dublin and have to go somewhere down the country (The government can't even do that but regardless). Instead we should be trying to get smaller companies/divisions to open up in these regional towns/cities and then help and encourage those companies to grow their business there.



I'm from Sligo, the downturn hit Sligo bad and it still hasn't recovered at all. It sucks. Saying that we did get some positive job announcements from a few different companies over the space of a few months so things are looking up there. Hopefully, it continues.

There was investment given to Strandhill seabaths lately and a big fuss was made over it. Totally papering over the cracks and that is what is happening. Sligo county is a lovely county, but the North West and border areas are basically ignored as are much of the rest of the country.

I really don't think the government care. I think they are hedging their bets on Dublin and to a lesser extent Cork city at this point. Maybe they can't do anything, this is globalization. I think there should be more decentralization to ease the pressure on Dublin and move more public sector jobs out of there.

AlmightyCushion

Redneck Culchie wrote: »

There was investment given to Strandhill seabaths lately and a big fuss was made over it. Totally papering over the cracks and that is what is happening. Sligo county is a lovely county, but the North West and border areas are basically ignored as are much of the rest of the country.

I really don't think the government care. I think they are hedging their bets on Dublin and to a lesser extent Cork city at this point. Maybe they can't do anything, this is globalization. I think there should be more decentralization to ease the pressure on Dublin and move more public sector jobs out of there.

I'd have to disagree with you there. IDA have a huge amount of land and office/factory buildings in Sligo. I think there is only so much the IDA can do and they have succeeded in attracting business there but it isn't easy. Sometimes companies just want to open up and develop in larger cities as there are plenty of advantages to the larger cities. It's always going to be easier to find staff in Cork and Dublin.

When Live Tiles were looking for developers in Sligo, I got loads of emails/linkedin messages/calls about it as did some of my friends who are developers and are from/went to college in Sligo. I wasn't interested because despite the downsides I actually like living in Dublin and I like that I have plenty of job opportunities here so for now at least I'm happy here. One of the recruiters did tell me they were struggling to hire staff there. It saddened me to hear it but it didn't surprise me either. If Live tiles opened up in Dublin or Cork, they would find it a lot easier to hire staff.

As for decentralisation, it didn't really work when we tried it before so I'm not sure moving everyone from Dublin would work now either. However, we should definitely look at creating any new jobs or departments/offices outside of Dublin. It gets around the issues of moving existing staff.

Redneck Culchie

AlmightyCushion wrote: »

I'd have to disagree with you there. IDA have a huge amount of land and office/factory buildings in Sligo. I think there is only so much the IDA can do and they have succeeded in attracting business there but it isn't easy. Sometimes companies just want to open up and develop in larger cities as there are plenty of advantages to the larger cities. It's always going to be easier to find staff in Cork and Dublin.

When Live Tiles were looking for developers in Sligo, I got loads of emails/linkedin messages/calls about it as did some of my friends who are developers and are from/went to college in Sligo. I wasn't interested because despite the downsides I actually like living in Dublin and I like that I have plenty of job opportunities here so for now at least I'm happy here. One of the recruiters did tell me they were struggling to hire staff there. It saddened me to hear it but it didn't surprise me either. If Live tiles opened up in Dublin or Cork, they would find it a lot easier to hire staff.

As for decentralisation, it didn't really work when we tried it before so I'm not sure moving everyone from Dublin would work now either. However, we should definitely look at creating any new jobs or departments/offices outside of Dublin. It gets around the issues of moving existing staff.

I think areas like Sligo and others suffer from very poor political representation. Also people are almost encouraged to leave, the idea of staying and trying to improve things is pretty alien to most. There is no entrepreneurial spirit that you would see in America. But globalization is crushing small business that used to bring employment. I really think decentralisation should be attempted again, I don't see the downside. In the Celtic Tiger it wasn't necessary as the boom was more evenly spread throughout the country.

There is something drastically wrong with house prices being so much above Celtic Tiger prices with a much weaker economy. Reports this week of "Boom envy" , this is because there is no boom only for a small minority. The current economy is unbalanced and unstable.

Bluefoam

Redneck Culchie wrote: »

I think areas like Sligo and others suffer from very poor political representation. Also people are almost encouraged to leave, the idea of staying and trying to improve things is pretty alien to most. There is no entrepreneurial spirit that you would see in America. But globalization is crushing small business that used to bring employment. I really think decentralisation should be attempted again, I don't see the downside. In the Celtic Tiger it wasn't necessary as the boom was more evenly spread throughout the country.

There is something drastically wrong with house prices being so much above Celtic Tiger prices with a much weaker economy. Reports this week of "Boom envy" , this is because there is no boom only for a small minority. The current economy is unbalanced and unstable.

The problem with decentralisation was that, while people complained about living in Dublin, and wanted to move to rural Ireland... when presented with the oportunity and good terms, they refused to leave. The whole thing collapsed because the very people who demanded it rejected the reality of decentralisation.

Mickiemcfist

Bluefoam wrote: »

The problem with decentralisation was that, while people complained about living in Dublin, and wanted to move to rural Ireland... when presented with the oportunity and good terms, they refused to leave. The whole thing collapsed because the very people who demanded it rejected the reality of decentralisation.

Think the only way that it works is by only setting up new offices outside of Dublin & not hiring anyone else to Dublin while gradually shrinking the office through employee turnover & retirement, moving people en masse doesn't. I'm guessing our public service sector is fairly old, so 20 years from now all the Dublin ones would have retired & you'd be left with a non-Dublin public service. It's an oversimplified model but it would work for 90% of the body.

ohlordy

The problem with decentralisation is that it wasn't a fully planned project, it was announced on a whim as a vote gathering exercise, one office for everybody in the audience.
It should have started with a survey of staff, asking if they would like to move, and to where.
It should then have involved moving enough sections that matched those locations with the numbers in each. There should have been proper workforce planning between departments to ensure that people who were voluntarily moving from Dept A to new Dept B office in Tralee were replaced in Dept A by someone who wanted to stay in Dublin.

Shedite27

How about that Property Market?

RayCun

Decentralization was always going to be a mess. Yes, there might be 200 civil servants who would like to work in an office in Athlone, for example. But 12 of them are in Agriculture, 18 are in Education, 17 in Health... and though an office might need 50 people from that grade, 45 from this grade..., the people who were interested in moving to Athlone were mostly from this grade and hardly anyone from that grade.

And, of course, the civil service is not based in Dublin for the crack. The Dail is in Dublin, the courts are in Dublin, and the other departments are in Dublin. If you move Education to Cork, then you impose a huge overhead on all dealings with things outside the department.

And Dublin is the transport hub. If you're in Sligo and have business with the Department, yeah, you'll moan about having to go to Dublin and why can't it be in Sligo etc etc, but what if instead of moving it to Sligo they move it to Waterford?

It was your standard Fianna Fail big promise that they couldn't be arsed thinking how it could be implemented.

Zenify

hanaimai wrote: »

No change to the rules for 2019: https://www.centralbank.ie/financial-system/financial-stability/macro-prudential-policy/mortgage-measures

Just in case people didn't see other thread about central bank rules review.

Moonjet

Redneck Culchie wrote: »

There is something drastically wrong with house prices being so much above Celtic Tiger prices with a much weaker economy.

I hate to break it to you but property prices are not at Celtic tiger peak levels just yet - they are predicted to return to that level mid 2019. (https://www.independent.ie/business/personal-finance/property-mortgages/property-prices-rise-by-more-than-100000-in-a-year-amid-fear-of-celtic-tigerlevel-hikes-36805528.html).

Andycap8

Tallaght has a larger population than Waterford.

Just saying.......

riclad

Prices will fall maybe by a few per cent,
or maybe stay as they are in dublin.
Say joe is selling his 300k. house for 350k and he gets no offers ,then he reduces the asking price to 300k or else stays where he is.
Thats how the market works .
Its hard to compare prices with the celtic tiger because prices went up everywhere , eg people in small towns were paying 160k for an apartment that is now valued at 80k.
Prices might rise in citys and urban area,s where there is very high demand .
Young people might not know this ,in 2004 you could borrow 8 times plus your salary .
The lending rules are now even if you are in a good job you can borrow
maybe 3 to 3.5 times your salary .
So there is just no way price,s could rise all over ireland to
celtic tiger levels .

Mickiemcfist

Andycap8 wrote: »

Tallaght has a larger population than Waterford.

Just saying.......

Mod Note

Less of the sweeping generalisations.
Consider that a written warning.

Zenify

Moonjet wrote: »

Redneck Culchie wrote: »

There is something drastically wrong with house prices being so much above Celtic Tiger prices with a much weaker economy.

I hate to break it to you but property prices are not at Celtic tiger peak levels just yet - they are predicted to return to that level mid 2019. (https://www.independent.ie/business/personal-finance/property-mortgages/property-prices-rise-by-more-than-100000-in-a-year-amid-fear-of-celtic-tigerlevel-hikes-36805528.html).

According to who? I just had a quick look at the article and didn't see a quote for that claim.

Andycap8

Mickiemcfist wrote: »

Yea but people in Waterford want jobs

Touche!:)

Bluefoam

riclad wrote: »

Prices will fall maybe by a few per cent,
or maybe stay as they are in dublin.
Say joe is selling his 300k. house for 350k and he gets no offers ,then he reduces the asking price to 300k or else stays where he is.
Thats how the market works .
Its hard to compare prices with the celtic tiger because prices went up everywhere , eg people in small towns were paying 160k for an apartment that is now valued at 80k.
Prices might rise in citys and urban area,s where there is very high demand .
Young people might not know this ,in 2004 you could borrow 8 times plus your salary .
The lending rules are now even if you are in a good job you can borrow
maybe 3 to 3.5 times your salary .
So there is just no way price,s could rise all over ireland to
celtic tiger levels .

Prices have risen in Dublin by 7.2%, in rural ireland it's more like 13.1%

riclad

riclad wrote: »

.........in 2004 you could borrow 8 times plus your salary .............

I see this mentioned frequently enough.
In 2004 someone on €50k/annum took home about €2900/month after throwing a few quid into the pension etc etc.

If they borrowed €400k their mortgage would have been about €1600/month at the then quite low interest rates.

I really don't think many folk borrowed 8 times their salaries tbh, I know that BOI weren't throwing much more than the 4.2 times my then salary at me, and AIB weren't willing to give me a mortgage at all

EnlightenedApe

Moonjet wrote: »

I hate to break it to you but property prices are not at Celtic tiger peak levels just yet - they are predicted to return to that level mid 2019. (https://www.independent.ie/business/personal-finance/property-mortgages/property-prices-rise-by-more-than-100000-in-a-year-amid-fear-of-celtic-tigerlevel-hikes-36805528.html).

One thing I learned...
The more sources saying prices can only go up, the more likely we about to plummet and visa versa.