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Covid-19 safety measures could add 5-10% to house prices - CIF

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    #2
    Who2
    Registered Users Posts: 2,058 ✭✭✭Who2


    Lex Luthor wrote: »
    https://www.rte.ie/news/ireland/2020/0519/1139398-construction-coronavirus/

    I understand where this is coming from, but I think they will have to drop prices, not increase them to sell stock as the money wont be there to buy new houses in the next 12-18 months

    The margins are thin as it stands, id say a 5-10% increase is being optimistic.A good few various crews who have returned to site are already trying to get out of some contracts as the restrictions and requirements are turning previously profitable contracts into loss making. The 350 covid payment is holding a baseline on a lot of the labour, while it is only temporary a lot of lads trying to get a few days cash in hand to make up the shortfall so its not going to be a case of squeezing the cost of labour there and the rises hadnt really got to 08 levels to allow for a massive drop.


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    #3
    Gumbo
    Moderators, Society & Culture Moderators Posts: 39,321 Mod ✭✭✭✭Gumbo


    The days of having your plasterer, tiler and painter in the one house at the same time are gone for the foreseeable.

    This will add delays and ultimately cost to the end user.


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    #4
    Lex Luthor
    Registered Users Posts: 11,220 ✭✭✭✭Lex Luthor


    I just dont think there will be a demand for new houses regardless of whether there was before CV19

    People have lost jobs, lost their mortgage approval and they will be left with a stock if they get built regardless of previous demand

    I'd go as far to say in 12-18 months prices will start dropping and if it was me I would be waiting another year before considering to buy as I'd imagine bargains will be had


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    #5
    Gumbo
    Moderators, Society & Culture Moderators Posts: 39,321 Mod ✭✭✭✭Gumbo


    Probably should be moved to the A&P forum.
    Not really a construction question.

    OP, there’s tons of these threads already here - https://www.boards.ie/vbulletin/forumdisplay.php?f=38


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    #6
    JimmiesRustled
    Registered Users Posts: 290 ✭✭JimmiesRustled


    In fairness, the CIF are hardly going to turn around and say that houses will go down in price seeing as the majority of construction, especially in Dublin/Kildare, is residential. They'd just be shooting themselves in the foot and wouldn't make sense.

    If you're a developer looking into spending money on a residential site, you're hardly going to go ahead with it if the governing body of construction are turning around and saying you'll sell it for less than you would've pre c-19.


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