Irish Property Market chat II - *read mod note post #1 before posting*

DownByTheGarden

https://www.boards.ie/discussion/comment/120526611#Comment_120526611

I was in a hotel like that about 6 months ago. Went out to the balcony on the 4th floor. It was just made of rotting decking timber. It cracked when i stood on it and my foot went through one of the boards. Even though the other boards were rotting too at least they held.

I rang reception as we had children there too and they just came up and locked the balcony door and that was that.

RichardAnd

https://www.boards.ie/discussion/comment/120526814#Comment_120526814

Celtic Tiger quality at its best. One does wonder what the current generation of new builds will be like in 20 years. There are houses near me in Wexford that were build in 2016, and they're already starting to look a bit rough. I guess we'll see.

MacronvFrugals

https://www.boards.ie/discussion/comment/120527092#Comment_120527092

Theres new builds being built beside me in D18, i noticed the whole frame seems to be wood and was wondering do they build up with blocks later?

https://connachttribune.ie/demand-for-galway-landlord-tds-to-recuse-themselves-from-dail-vote/

You couldn't make this stuff up. They want TDs than own rental properties to recuse themselves from a vote on a bill to reduce rents. In other words we want to publicly shame them into not voting as the they probably wont vote in favor of our bill. Does that mean that they will be publicly asking TDs that are renting to also recuse themselves as they have a vested interest?

Villa05

https://www.boards.ie/discussion/comment/120526655#Comment_120526655

And yet the argument for investing at the time was to generate an income on retirement.

The heavy lifting has been done and you sell when the rental income would be most beneficial to a person

If nothing else it shows the degree to which this government has broken the rental market for both landlords and tenants and handed it to funds who hoover up the fruits of the economy.

These people form the largest cohort that will continually vote FFG. Baffling!

BlueSkyDreams

https://www.boards.ie/discussion/comment/120527311#Comment_120527311

Good points, but not that baffling as there isnt a viable option to vote for as an alternative.

SF would only make things worse for landlords and favour tenants even more than the current govt does.

As a LandLord, the current govt are a lesser of 2 evils. Another reason to sell up, as things womt get any better in the short term for landlords and as a result, things wont get any better for tenants, either.

newmember2

Two current Dublin northside properties for sale...

https://www.myhome.ie/residential/brochure/5-windele-road-drumcondra-dublin-9/4576689

https://www.myhome.ie/residential/brochure/70b-lorcan-avenue-santry-dublin-9/4700294

Guildenstern

Mistake lies solely with this government whether it's FF or FG. What has basically happened is a set of circumstances that resulted in small time amateur landlords meeting the long term housing needs of families who themselves should have had their housing needs met by the State. RAS/HAP really was a cop out by the State to provide 'housing supports' since the crash, and only enforced this, ever more. Whichever way you look at it, we've had short term thinking when it comes to housing policy together with a very neoliberal approach, to just rely on the market/private sector to sort it out.

Even a blind man can see there's only ever been 2 political parties ever in control in this country, so it's not too difficult to apportion responsibility. We can only judge SF once they are in power.

Villa05

https://www.boards.ie/discussion/comment/120527302#Comment_120527302

Agree it's a stunt, but we do need to look at why there is a high degree of correlation between a TD (and in particular TDs in power) professional background/career and the degree of inflation in those sectors even during periods of very low/ no inflation, mainly:

Finance

Real estate

Insurance

Chemists

Education

Healthcare

RichardAnd

https://www.boards.ie/discussion/comment/120527243#Comment_120527243

I think that the frame of the building is timber, but bricks are build up around it later on. I'm not a builder, but that's what I've observed. My major issue with that is that wood and Ireland do not mix well. In the UK, there are wooden barns from the middle ages that are still extant, but here the air is way too damp for that. I'd be worried about what would happen if moisture got into the timber frame.

Dav010

https://www.boards.ie/discussion/comment/120527302#Comment_120527302

I wonder is that because the Government has form for passing legislation which makes it easier for small landlords?

https://www.boards.ie/discussion/comment/120527600#Comment_120527600

There is a good chance that it will be an unpalatable bill in the Dail so they are attempting to improve their odds of passing it, it also has the benefit that if it fails to pass TDs with rental properties will get the blame if they decide to vote. Its difficult to imagine why anybody would want to make a dysfunctional rental market even worse.

Dav010

https://www.boards.ie/discussion/comment/120527934#Comment_120527934

Get their retaliation in early.

herbalplants

https://www.boards.ie/discussion/comment/120527364#Comment_120527364

Wild stuff... Would love to see who will buy these.

DownByTheGarden

https://www.boards.ie/discussion/comment/120528127#Comment_120528127

You and I will of course.

Lefty2Guns

My brother was recently outbid for a house. Was just him and another couple bidding.

He originally bid €275k, €25k below asking price but eventually got outbid by €10k over asking price. His final bid was €305k. The couple bidding against him had never fully qualified for a mortgage so that fell through (or so the EA said). The estate agent rang my brother and said are you still interested in bidding €305k for the house, he questioned why, in which the EA told him the story about the other couple.

His response, ye I'm interested. €275k is my starting bid?

Some beauts those EA's. I'll give them that. Feel for anyone having to deal with them and their untrusty ways.

FledNanders

https://www.boards.ie/discussion/comment/120528456#Comment_120528456

I assume the sellers went back to the market then knowing they could likely get over 300k again?

wassie

https://www.boards.ie/discussion/comment/120526546#Comment_120526546

The pic below shows the outline of the site in question - right in the middle of established residential development. As you say, its important to have the facts before drawings conclusions.

As for the NIMBYism - some of the submissions had very valid concerns. But there is the usual bunch of rubbish that gets rolled out. Heres a few special ones.

• I have an objection to the proposed pedestrian link and the anti-social behaviour it may encourage.
• All the mess, and noise associated with a development of this size on such a small amount of land
• The bins from the houses will back on to my back wall causing smell, flies, rats etc.
• Irish water and the integrity of the existing sewerage will be put under extreme pressure will all these extra houses. (No supporting evidence provided)
• The proposed application places a communal area just at my boundary wall which in combination with the density of residents will result in noise, disturbance, and lack of privacy. Youths typically congregate in these areas which can often result in anti-social behaviour creating further security and safety issues.
• My family have lived on the bog road for 5 generations and in that time there has been a lot of changes. Just because there is land to develop it doesn't make it right to to squeeze in as many properties as possible and not worry about the impact on the local environment.
• Noise and disruption due to another estate being built.

But this one takes the prize for the biggest stretch.....

• We feel that firstly the high density of this proposed development is unnecessary in this area as according to the Census Preliminary Results 2022 23 June 2022, Housing stock in County Galway has increased by 5.7% between the 2016 Census and the 2022 Census, however although we hear on our national news that homelessness is on the rise, Galway has one of the highest proportions of vacant rental properties, with Galway city alone at 38%. It appears from these statistics that the issue is not that we do not have enough housing, it seems to be that people are not renting the housing that’s available. This may be due to rent rates are far too high for the average family or individual.

Cyrus

https://www.boards.ie/discussion/comment/120524479#Comment_120524479

in what way do you think maintenance fees are a racket, and who is in on the racket?

mcsean2163

https://www.boards.ie/discussion/comment/120528456#Comment_120528456

Similar happened to us. For 30k, it's hardly worth it if it's a house he really likes. Might be worth being more polite and citing increased cost of mortgage finance.

herbalplants

https://www.boards.ie/discussion/comment/120528456#Comment_120528456

Very good response from your brother!

For all we know, that couple may be a phantom bidder.

https://www.boards.ie/discussion/comment/120528569#Comment_120528569

I highlighted that in my response, there is already over development for an area that is a flood plane. Every new development there infills the site and pushes the flood waters in a different direction causing new problems.

People don't like change so there will always be frivolous objections to developments but and that's why we have a planning/planning appeal process to weed these out but also to the contrary we have more and more developments thrown up in unsuitable locations because the land is cheap or the developer has political links. Very few developments are being halted in Galway due to frivolous reasons, most of the objections above will not be entertained or slight changes to planning will be required to mitigate some.

Lefty2Guns

https://www.boards.ie/discussion/comment/120528833#Comment_120528833

My brother works in sales so know's all about the side of bargaining and negotiations. Possibly one of the worst people the EA could have tried to pull a fast one on.

Lefty2Guns

https://www.boards.ie/discussion/comment/120528582#Comment_120528582

Not going into his circumstances but that 30k is a huge amount of money. Plus the house was on the market for months, as soon as he put the bid in at €275k, coincidentally a second bid was put in 2 days later. In my opinoin the EA was trying to pull a fast one.

Lefty2Guns

https://www.boards.ie/discussion/comment/120528476#Comment_120528476

Possibly or they might realise that no one else is interested and the EA tried to pull a fast one. They could have got €5k over the asking now they are back to see who is interested or negotiate with my brother.

combat14

https://www.boards.ie/discussion/comment/120529016#Comment_120529016

and typically its not just 30k have to repay the rising interest on it as well

mayo londoner

https://www.boards.ie/discussion/comment/120529023#Comment_120529023

Went to view a house tonight in Limerick that had been up for about 3 weeks and asking price was 285k. Nice house in fairness, very little to be done to it but probate wouldn't be complete for another 5months approx.

Anyways estate agent advised us last night that there was only one bidder so far at 272,500 which we thought was decent value for the area. Off we went to view it this afternoon and there were 4 or 5 other couples viewing over the hour. When we started talking to the agent she informed us that the house had suddenly jumped to 302,500 in less than 24hrs and there were only 2 bidders, convienently she had her laptop set up in the kitchen for people to log in an bid if they wished (Sherry Fitzgerald).

God knows what it will go for now but I suspect the email we got last night saying the bid was 272,500 was a hook to get ourselves and other couples to view the house and entice them into a bidding war. Note that no house in the estate has ever gone for 290k or above going by the property register, market in Limerick/Clare region is an absolute shitshow these days.

Dav010

https://www.boards.ie/discussion/comment/120529099#Comment_120529099

You suspect an email from an EA was sent to entice you to view/bid on the house?

ingo1984

https://www.boards.ie/discussion/comment/120529099#Comment_120529099

The Limerick market is grossly over valued. The amount of houses on sale there that have been listed for months on end with no offers/sale agreed tells you all. For the most part Limerick city is primarily a low income/social welfare demographic.

Villa05

God forbid they'd be used for something useful,

https://www.live95fm.ie/news/live95-news/mixed-reactions-to-two-county-limerick-buildings-being-used-to-house-refugees/