Irish Property Market 2020 Part 2

Hubertj

schmittel wrote: »

Exactly. The posters on here hoping that prices will only increase in the future should be careful what they wish for.



Making homeowners feel richer is likely to lead us to a government of SF, PBP and other assorted loons.

I think PBP would have been in serious trouble in the election if SF ran more candidates. Also, I don’t think SF would go into coalition with those type of people.

Government needs to lay out a 3,6, 10 year plan for housing with capex ring fenced to demonstrate they have gotten the message.

hometruths

Hubertj wrote: »

I think PBP would have been in serious trouble in the election if SF ran more candidates. Also, I don’t think SF would go into coalition with those type of people.

Government needs to lay out a 3,6, 10 year plan for housing with capex ring fenced to demonstrate they have gotten the message.

We know we're in trouble when a reasonable statement is "I don't think SF would go into coalition with those type of people"

wassie

You can build all the social housing you want, but until the Govt decides to radically shake up favourable tax treatment of property, which as I see it is an unproductive asset and drag on the economy, I don't see any impetus for change in the long term.

cnocbui

wassie wrote: »

You can build all the social housing you want, but until the Govt decides to radically shake up favourable tax treatment of property, which as I see it is an unproductive asset and drag on the economy, I don't see any impetus for change.

What is this favourable tax treatment and what do you mean by unproductive?

brisan

awec wrote: »

The house itself is fairly meh.

But it's nearly half an acre in Dublin, albeit the very edge of Dublin. You could build a large extension and end up with a large house and a large garden (by city standards). The Cherrywood development will likely bring small businesses into the immediate local area.

The size of the site is the only reason for the price of it.

Correct
You could knock it and build 4 luxury houses on it subject to PP

landofthetree

schmittel wrote: »

We know we're in trouble when a reasonable statement is "I don't think SF would go into coalition with those type of people"

Can they afford to have them on the opposition benches?

First SF budget.

We will increase the old age pension by 10 euros a week.

PBP: SF throw scraps at the poor. They are now a far right capitalist party. MNC are turning over billions and we have OAP expected to live on €255 a week.

brisan

Pelezico wrote: »

But the rag which is the Irish Times has been one of the biggest shills for rising property prices.

They do own Myhome.ie

brisan

Assetbacked wrote: »

47% of 25-29 year olds living with parents in 2017! Jesus, that is utterly depressing. With no urgency to try to correct this with affordable rents the political establishment needs a massive shake up.

There is a whole generation of Boomerang kids out there who will vote SF in the next time around

landofthetree

brisan wrote: »

There is a whole generation of Boomerang kids out there who will vote SF in the next time around

So could their parents. The 'I'm alright Jack" brigade who loved to see house price increases might wake up.

brisan

landofthetree wrote: »

So could their parents. The 'I'm alright Jack" brigade who loved to see house price increases might wake up.

We have been lucky although one child did bounce out and back twice but I know a few couples with kids in their 30s living with them
To say they are not impressed is putting it lightly
Christ in my day you were married and gone at 25 max.
Never mind the kids not being able to have noisy sex now the parents in their 50s cant
If things do not radically change then SF will walk the next election and that will be disasterous

OwlsZat

What is the craic with high house values in general?

I know the infiinte office boom we were engaged in was partly done to boost GNP figures.

Why the quest for high house prices? Is it linked to the predicted pension reserve shortfall?

PropQueries

brisan wrote: »

We have been lucky although one child did bounce out and back twice but I know a few couples with kids in their 30s living with them
To say they are not impressed is putting it lightly
Christ in my day you were married and gone at 25 max.
Never mind the kids not being able to have noisy sex now the parents in their 50s cant
If things do not radically change then SF will walk the next election and that will be disasterous

All true. I wouldn't mind so much if I thought in 10 years times I could be enjoying my older years and not worried about the cash.

But the way things seem to be heading, my home will be gobbled up by some variation of a future fair deal scheme and my state pension will be means tested based on either my home or my private pension i.e. I most likely won't be getting any state pension.

Not sure how voting SF will help me but it seems to me that the above is both FF and FG strategy regarding my particular future.

brisan

PropQueries wrote: »

All true. I wouldn't mind so much if I thought in 10 years times I could be enjoying my older years and not worried about the cash.

But the way things seem to be heading, my home will be gobbled up by some variation of a future fair deal scheme and my state pension will be means tested based on either my home or my private pension i.e. I most likely won't be getting any state pension.

Not sure how voting SF will help me but it seems to me that the above is both FF and FG strategy regarding my particular future.

Voting SF will PROBABLY shaft you
However voting FFG HAS shafted you and your children regarding housing.
People in their 20s-30s are not worried about OAP
They need a place to live ,preferably their own ,that is affordable.
FFG have proved beyond doubt they are incapable of that so maybe the younger generation want to give SF a chance and to be honest I do not blame them

fliball123

brisan wrote: »

Voting SF will PROBABLY shaft you
However voting FFG HAS shafted you and your children regarding housing.
People in their 20s-30s are not worried about OAP
They need a place to live ,preferably their own ,that is affordable.
FFG have proved beyond doubt they are incapable of that so maybe the younger generation want to give SF a chance and to be honest I do not blame them

Anyone looking at SF only have to look north to see how they rowed back on a lot of things they promised SF are no magic bullet and are the biggest bluffers in the game

brisan

fliball123 wrote: »

Anyone looking at SF only have to look north to see how they rowed back on a lot of things they promised SF are no magic bullet and are the biggest bluffers in the game

I agree
But a drowning man will grab any lifeboat
And our young people are drowning

Hubertj

brisan wrote: »

Voting SF will PROBABLY shaft you
However voting FFG HAS shafted you and your children regarding housing.
People in their 20s-30s are not worried about OAP
They need a place to live ,preferably their own ,that is affordable.
FFG have proved beyond doubt they are incapable of that so maybe the younger generation want to give SF a chance and to be honest I do not blame them

its like deciding who is worse - gary glitter or jimmy saville

fliball123

brisan wrote: »

I agree
But a drowning man will grab any lifeboat
And our young people are drowning

yeah but the SF life boat is most likely to drive over you drown you quicker

Assetbacked

Hubertj wrote: »

its like deciding who is worse - gary glitter or jimmy saville

Me picking Gary Glitter for Rock n Roll is like picking SF for O'Broin's housing policies.

brisan

Agreed
But if you spent a week with Gary Glitter and knew you were going to get abused every night would you risk going to Jimmy Saville in the hope the you would not be
Thats the choice our young people have
We on the other hand know both will abuse us

fliball123

Hubertj wrote: »

its like deciding who is worse - gary glitter or jimmy saville

Its worse its llke being asked to go on a date with either of these two and having no choice but to choose one.

PropQueries

brisan wrote: »

Voting SF will PROBABLY shaft you
However voting FFG HAS shafted you and your children regarding housing.
People in their 20s-30s are not worried about OAP
They need a place to live ,preferably their own ,that is affordable.
FFG have proved beyond doubt they are incapable of that so maybe the younger generation want to give SF a chance and to be honest I do not blame them

True. Maybe some party will come along that will align the interests of both the young and the old. But either way, I think I'm going to have to pay and I've accepted that. Personally, I would rather it happen sooner rather than later and get all this uncertainty out of the way and let us all (young and old) enjoy some semblance of a normal life.

Pelezico

Strong opinion piece by Irish Times....the mother of all shills.

landofthetree

OwlsZat wrote: »

What is the craic with high house values in general?

I know the infiinte office boom we were engaged in was partly done to boost GNP figures.

Why the quest for high house prices? Is it linked to the predicted pension reserve shortfall?

It just wasnt economically viable to build houses in most of Ireland for a long while. Houses were selling for cheaper than they cost to build. So the FG plan was to let prices increase so builders would come back in an build like mad. It didn't happen on the scale needed.



Even now it's still now viable to build apartments outside of Greater Dublin.

Nice 2 apartment in Tullamore cost 130k. You couldn't build a 2 bed apartment for that.
https://www.myhome.ie/residential/brochure/1-the-old-mill-rivercourt-tara-street-tullamore/4453310

shatners bassoon

Pelezico wrote: »

Strong opinion piece by Irish Times....the mother of all shills.

Give it a rest ffs

Pelezico

landofthetree wrote: »

It just wasnt economically viable to build houses in most of Ireland for a long while. Houses were selling for cheaper than they cost to build. So the FG plan was to let prices increase so builders would come back in an build like mad. It didn't happen on the scale needed.



Even now it's still now viable to build apartments outside of Greater Dublin.

Nice 2 apartment in Tullamore cost 130k. You couldn't build a 2 bed apartment for that.
https://www.myhome.ie/residential/brochure/1-the-old-mill-rivercourt-tara-street-tullamore/4453310

Check out kyero.com. An area I know well is Oliva. You can buy a house for half that price. 130k is overpriced.

OwlsZat

landofthetree wrote: »

It just wasnt economically viable to build houses in most of Ireland for a long while. Houses were selling for cheaper than they cost to build. So the FG plan was to let prices increase so builders would come back in an build like mad. It didn't happen on the scale needed.

Even now it's still now viable to build apartments outside of Greater Dublin.

Nice 2 apartment in Tullamore cost 130k. You couldn't build a 2 bed apartment for that.
https://www.myhome.ie/residential/brochure/1-the-old-mill-rivercourt-tara-street-tullamore/4453310

Really? If that was the case why didn't a flood of Irish buliders start building houses on large scale? All we got a few PLCs suggesting most real companies saw it as another bubble.

Why didn't they reduce costs? Reduce VAT \ planning levies \ Stamp Duty or reduce the VAT on building materials?

Graham

landofthetree wrote: »

It just wasnt economically viable to build houses in most of Ireland for a long while. Houses were selling for cheaper than they cost to build.

In some Counties that's still the case.

There are a few counties where there has been practically zero house building in the last decade.

Billythekid19

landofthetree wrote: »

It just wasnt economically viable to build houses in most of Ireland for a long while. Houses were selling for cheaper than they cost to build. So the FG plan was to let prices increase so builders would come back in an build like mad. It didn't happen on the scale needed.



Even now it's still now viable to build apartments outside of Greater Dublin.

Nice 2 apartment in Tullamore cost 130k. You couldn't build a 2 bed apartment for that.
https://www.myhome.ie/residential/brochure/1-the-old-mill-rivercourt-tara-street-tullamore/4453310

Only issue is there is are very few career prospects in the likes of Tullamore. Unless you are comfortable making the 200km round trip to Dublin every day, I dont see why someone would live there unless they have family ties in the area.

awec

OwlsZat wrote: »

Really? If that was the case why didn't a flood of Irish buliders start building houses on large scale? All we got a few PLCs suggesting most real companies saw it as another bubble.

Why didn't they reduce costs? Reduce VAT \ planning levies \ Stamp Duty or reduce the VAT on building materials?

Probably lack of finance, combined with an unwillingness to over extend and have too much unsold stock on the books like in 08?

They gave them the help to buy to try put some money in their pocket.

I would imagine that the construction sector is a significant source of income for the government, so any further incentives would have to be very carefully balanced against the impact of the lower tax take, and whether it was worth it overall.

Cyrus

Billythekid19 wrote: »

Only issue is there is are very few career prospects in the likes of Tullamore. Unless you are comfortable making the 200km round trip to Dublin every day, I dont see why someone would live there unless they have family ties in the area.

we can all work from home forever didnt you hear?