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

Relax brah · 27-07-2023 7:42am

https://www.boards.ie/discussion/comment/120901077#Comment_120901077

Yes it is within the RPZ so the increase is completely above board.

The landlord charges an additional fee for the parking space on that basis I would assume they own it.

Im not losing sleep over it. I will check the rental agreement

mike_cork · 27-07-2023 10:35am

https://www.independent.ie/business/personal-finance/ecb-piles-pressure-on-borrowers-with-ninth-rate-rise-in-a-year/a1273647539.html

Indo reporting the below

"The European Central Bank has again increased its key lending rates, pushing them to their highest level in more than two decades.

The ECB announced a 0.5 percentage point rise, which will take the key refinancing rate to 4.25pc. This will see most trackers rates rise to 5.25pc, adding another €12 a month to repayments for a family with €100,000 left to pay.........It is expected that typical fixed rates will be 5pc by the end of the year."

spaceHopper · 27-07-2023 11:01am

https://www.boards.ie/discussion/comment/120900606#Comment_120900606

Tell the LL you want to claim for the damage on their property insurance as it was in their car park and not on the public road. Could they double check the CCTV please?

Zenify · 27-07-2023 11:22am

https://www.boards.ie/discussion/comment/120902522#Comment_120902522

Shocking. I thought it was supposed to be .25! Nobody in the ecb even hinted it could be .50....

mike_cork · 27-07-2023 11:37am

https://www.boards.ie/discussion/comment/120902725#Comment_120902725

I'm curious to see where the indo is getting it's info because I'm not seeing any other media outlets report this.

Normally the announcement isn't made until 1PM

Dav010 · 27-07-2023 11:50am

https://www.boards.ie/discussion/comment/120902641#Comment_120902641

I suspect that would be a short conversation considering LLs rarely own car park spaces in MUDs.

FernandoTorres · 27-07-2023 11:50am

Bit of a bizarre article from the Indo considering the meeting hasn't even happened yet so it's completely untrue to say they've "announced" a 0.50% increase. If they know more than every other media outlet and the collective knowledge of the stock market then fair play to them!

Sierra Oscar · 27-07-2023 12:00pm

https://www.boards.ie/discussion/comment/120902860#Comment_120902860

Reads like a pre-prepared article has been published too early by the web team, with placeholder figures included.

hometruths · 27-07-2023 12:23pm

CSO publishing their Housing in Ireland Profile today.

As expected very little evidence in there that we have a crisis level shortage of housing stock.

https://www.cso.ie/en/releasesandpublications/ep/p-cpp2/censusofpopulation2022profile2-housinginireland/

KLF · 27-07-2023 12:58pm

https://www.boards.ie/discussion/comment/120902903#Comment_120902903

Yep, it's been pulled now.

mike_cork · 27-07-2023 1:26pm

https://www.boards.ie/discussion/comment/120903187#Comment_120903187

https://www.independent.ie/business/personal-finance/ecb-lifts-rates-by-further-quarter-of-a-percent-with-ninth-hike-in-a-year/a1273647539.html

so rates gone up by .25% not .5% as previously announced by the indo earlier 😆

AdamD · 27-07-2023 1:51pm

https://www.boards.ie/discussion/comment/120903003#Comment_120903003

The number of vacant dwellings counted in Census 2022 fell by 11% since 2016. However, it is important to remember that this is a point in time measure as these dwellings were classed as vacant on Census Night, 03 April 2022. (For details on the definitions of vacancy used for the census, please see Census 2022 and Vacant Dwellings FAQ.) The 163,433 vacant properties include short term vacancy (dwellings for sale, for rent, renovation, owner in nursing home, for example).

Furthermore, 23,072 dwellings were vacant in 2011, 2016 and 2022. These figures may be an indication of dwellings which were vacant for a longer period of time.

Do you know why the dwellings were vacant?

The CSO has produced new additional figures giving an insight into why some of the 163,433 dwellings were vacant on Census Night. While we don’t have a complete picture, we did note that many of the dwellings recorded as vacant were for sale, were rental properties, had a deceased owner, or were being renovated. Many of these may well have been occupied again a few weeks after the Census was completed.

Not sure this is the bombshell you're indicating it is

27-07-2023 1:53pm

https://www.boards.ie/discussion/comment/120900606#Comment_120900606

I presume it wasn't the landlord that broke into your car or the landlords negligence that caused the break in? If it was the actions of a third party that's what your car insurance is for, hopefully you declared the rental property as the main place the car would be stored or they might have questions . 5 to 6 grand also sounds like a lot of damage for a car break in.

There is such fear of GDPR now that the recordings won't be shared, Garda or the insurance company can request the recordings as part of their investigation. You don't need them personally other than to satisfy your curiosity.

Sounds like the 2% rise is all above board. You would have got your marching orders instead of a 2% rise if they wanted you out.

You have the right to move on if you are not happy there. Best of luck OP.

Villa05 · 27-07-2023 2:01pm

https://www.boards.ie/discussion/comment/120898301#Comment_120898301

Smaller Waterford properties with long term lease to state sold for 370k that's 185 per unit

Larger, well located Limerick property with no state lease 133k

Well Done Government

David McWilliams without mentioning housing touches upon whats happening here on his Tuesday podcast

Social housing has moved away from housing lower income people to enriching higher income politically connected folk

https://shows.acast.com/the-david-mcwilliams-podcast/episodes/insiders-vs-outsiders

hometruths · 27-07-2023 4:01pm

https://www.boards.ie/discussion/comment/120903446#Comment_120903446

Mot of them were vacant because they were empty sales or rentals.

I am not claiming there is a bombshell, this was already widely known. I'm simply pointing out that there is no data here that points to a crisis shortage of housing stock.

If there was, no doubt you'd hear people citing the census data as evidence. The silence is deafening.

timmyntc · 27-07-2023 4:54pm

https://www.boards.ie/discussion/comment/120904184#Comment_120904184

The data does not prove what you think it does - you have an obsession with CSO vacants as if there's some mind of conspiracy and the housing crisis is all fabricated.

And yet prices are at record highs with no signs of material drops. In many regions prices are still rising. "But shur the vacants"

CorkRed93 · 27-07-2023 4:58pm

https://www.irishtimes.com/business/2023/07/26/phibsborough-apartment-scheme-faces-local-opposition/

In May Bindford Ltd lodged plans for the proposal for Cross Guns Bridge, Phibsborough, that is to include 118 build-to-rent apartments and 78 apartments for sale in three blocks ranging in height from three to 12 storeys.

Dublin City Council has received over 30 third-party submissions concerning the Large Scale Residential Development (LRD). One of the submissions is from the Leinster, Ulster and Munster Streets Residents Association.

.....reallly?

hometruths · 27-07-2023 5:05pm

https://www.boards.ie/discussion/comment/120904381#Comment_120904381

The census is the most comprehensive look at housing in the country by some distance.

If we have crisis levels of housing shortage you'd expect the census to reflect that.

the fact that it doesn't should at the very least raise a question of two.

not dismissed with "But but look at the headlines."

Whatever the data proves, it is certainly not that we have a chronic housing shortage.

Relax brah · 27-07-2023 5:47pm

https://www.boards.ie/discussion/comment/120903461#Comment_120903461

Thanks for the feedback.

I guess I didn’t make it clear in my OP, the Garda had stated that they would ask for the video footage if needs be.

Ive a good relationship with the LL and sent an email following that discussion with more of a “heads up,” I’ve spoken to the Garda as suggested with any issue in the premises.

The gardai suggested sending a mail, documenting the time the incident happened in email and letting them know what the response was from the LL. the Gardai have been excellent to their credit, im more concerned at the backlash (albeit above board.) It is very unlike the LL to react in such a manner.

The damage was someone trying to rob my tyres, they would have been at it hours. The suspension is broken as a result too. The car is currently off the road

the.red.baron · 27-07-2023 6:14pm

https://www.boards.ie/discussion/comment/120903003#Comment_120903003

Spouting untruths as usual

27-07-2023 7:21pm

https://www.boards.ie/discussion/comment/120904566#Comment_120904566

It's a bit sensationalist to describe a 2% routine rental increase as backlash. I think you are reading into it too much tbf.

You were unlucky with the car how does somebody destroy the suspension trying to nick some tires?

hometruths · 27-07-2023 7:26pm

https://www.boards.ie/discussion/comment/120904658#Comment_120904658

Ok fine, if you believe that the data released by the CSO supports the fact that we have a crisis shortage of housing stock can you point to the data that you believe shows that?

newmember2 · 27-07-2023 7:42pm

https://www.boards.ie/discussion/comment/120904399#Comment_120904399

Those streets are beside it.

AlmightyCushion · 27-07-2023 8:58pm

https://www.boards.ie/discussion/comment/120904906#Comment_120904906

Rent is up 37%. The number of places paying over €400 a week in rent is up ten-fold since 2011.

Housing stock is up by 108k whereas population increased by 387k. The total stock of habitable permanent housing increased by 5%, population increased by nearly 10%.

Since 2011, housing stock has increased by 116k, population increased by 560k.

Housing stock isn't increasing much compared to before 2011 and the vacant properties are decreasing massively.

There were 23,072 dwellings vacant in all three censuses, 2011, 2016 and 2022, 1% of the housing stock. 23k units will not solve the housing crisis. Even if we were able to magically make them all available and fill them tomorrow.

hometruths · 27-07-2023 10:00pm

https://www.boards.ie/discussion/comment/120905241#Comment_120905241

Rent is up 37%. The number of places paying over €400 a week in rent is up ten-fold since 2011.

That is most likely to be caused by a shortage of places available to rent, but the census data does not support this. Quite the opposite. The data purports to show there are/ample properties available to rent. At least 35k on census night.

Housing stock is up by 108k whereas population increased by 387k. The total stock of habitable permanent housing increased by 5%, population increased by nearly 10%.

Since 2011, housing stock has increased by 116k, population increased by 560k.

Housing stock isn't increasing much compared to before 2011 and the vacant properties are decreasing massively.

No doubt the rate of increase of housing stock has slowed down significantly since 2011. But in 2011 we had a massive oversupply to mop up. The experts where telling us it would take 30 years to mop up.

The difference between the amount of houses built and the population increase is only meaningful relative to the population size and housing stock at the start of the period in which you are comparing to.

Over the 20-year period from 1991 to 2011, the number of homes went up by over 70% while the population grew by 30%. That translated into an increase in 220,000 more houses than people in that period. It's no wonder we had an oversupply in 2011.

There were 23,072 dwellings vacant in all three censuses, 2011, 2016 and 2022, 1% of the housing stock. 23k units will not solve the housing crisis. Even if we were able to magically make them all available and fill them tomorrow.

It's not the 23,000 long term vacant in all three censuses that contradicts the idea we don't enough housing stock. It's the 35k vacant rentals and the 18,000 vacant for sale in April 2022 for starters.

grumpyperson · 28-07-2023 9:10am

snip repeat

FernandoTorres · 28-07-2023 10:07am

https://www.boards.ie/discussion/comment/120905524#Comment_120905524

"There are ample places to rent". You can't actually be for real? Have you attempted to rent anywhere recently or talked to people who are actually out there trying and not just looking at ambiguous data on the internet?

hometruths · 28-07-2023 10:35am

https://www.boards.ie/discussion/comment/120906790#Comment_120906790

It is not ambiguous data I am citing, it is the census. I said the "The data purports to show there are/ample properties available to rent. At least 35k on census night."

The reason I used the word purport is that I am fully aware the reality is that were less than 1500 properties actually available to rent on census night.

People are dismissing these 35k properties as irrelevant in terms of available housing stock because they were rentals which were probably occupied a few weeks later.

Yet at the same time they are saying there were no properties actually available to rent.

It's ridiculous and defies all logic.

If they can be dismissed as irrelevant because they were actually available to rent and thus probably occupied a short time later then logic dictates we have ample stock available to rent.

Or

If they were not actually available to rent, and thus probably not occupied a short time later, then logic dictates they cannot be dismissed as irrelevant in terms of potential available housing stock.

Which is it?

This is the conundrum that nobody is able to explain. Nobody appears even willing to attempt to explain it.

FernandoTorres · 28-07-2023 11:01am

https://www.boards.ie/discussion/comment/120906980#Comment_120906980

It is ambiguous as the census is a point in time measure and not suitable for looking at a constantly moving market like the rental market. The good news is that to find the amount of properties actually available for rent, you can search that on any given day. For example today in Cork, our second largest city there are 33 places to rent in total, in Limerick there are 4 and Galway there are 33. Clearly a very broken market. Where are these thousands of other properties hiding?

AdamD · 28-07-2023 11:28am

Looking for a place to rent in 2016 was pretty difficult, that report shows that the situation has gotten worse by every single metric.

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

Comments

Do you know why the dwellings were vacant?

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