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

Absolutely, theres a reason "Celtic tiger build" is a synonym for low quality these days.

But that 90k a year completions is the equivalent of about 110k a year per capita completions now, and even higher in the years to come as our population continues to increase rapidly.

So the idea that 30k per year completions is a reasonable hard ceiling for the rest of this decade is pretty ridiculous. At 60k a year we'd still be running at about half of the mid 2000s, so it should be very achievable even with higher building standards. And might actually make a dent in the housing crisis.

 low inventory of stock for sale = very low turnover rate of existing stock.

'Why' is the issue that needs resolving.

The low turnover in the US is attributable to the fact that the majority of consumer mortgages are issued on a 30 year fixed rate. Trading up means forgoing your cheap low fixed rate with a new considerably higher fixed rate on a potentially more expensive property, so people are choosing to sit on the sidelines and paydown the mortgage and build up equity.

Funadmentally whilst 30 year fixed rates are great for consumers, it's not so good for the banking sector that has to borrow short and lend long, increasing risks for banks when interests rate rises like they have.

Which bailed out finance house have been hovering up residential property?

EA's also driving up the prices for sure.

If you want to bid online, most EA websites will only allow you bid 5000 under the asking price, which is superinflated in several of the properties that we have looked at.

Viewed a property in Maynooth the other day, asking price 475000, for a semiD. Cheap lino throughout, no decent flooring. The cheapest of the cheap, and in need of major reburbishment.

Bidding starts at 470000. What a rip-off.

It was't just the lino. Yes, kitchen was in an awful state, doors hanging off hinges, just wear and tear of age. The wardrobes in the bedroom were a disaster, all need replacing. To bring the place into the modern age would cost at least another 100,000 especially if trying to raise the BER rate. Skirting boards were hanging off the walls. Imagine leaving it like that, but why wouldn't they, when they know some desperate sucker somewhere will buy.

In another house we viewed, there was a line of broken tiles in the kitchen. When we placed our house on the marked, more towards the midlands, we were advised to replace the tiles, which we duly did. It's also a matter of pride.

If you take out the BER rating and replacing kitchen you are taking a couple of grand to resolve its cosmetic.

it’s also worth noting that the majority of house have poor BER ratings (unless your buying new). That doesn’t make the house unliveable…if it did 70-80% of all housing stock would be unliveable.

That is subjective, if the property sells, you/the op are wrong.

When we were selling we said to the EAs we got to value it that we would need a month or two to tart it upo. They said dont bother. If you get a new kitchen or paint the walls or fix tiles etc that the new owners 90% of the time would be gutting the place anyway so it woudlnt bother them. They said it might bother one or two buyers but they were the ones who didnt have the money to be in bidding wars anyway and we wanted bidding wars.

So after we moved into our new house, guess what we did. Changed the bathrooms and kitchen :)

I drove past our old house a few times and once saw our lovely kitchen in a skip with our shower door thrown in there too and bits of my lovely shed that I built a few years ago. Pretty sure the rest of the bathrooms were underneath.

Would EAs/Vendors be basing guide prices on what the market has been willing to pay? I’m struggling to see why you think a vendor maximising the value of their most valuable asset is greedy. Surely when you were selling your home, you wanted the most you could get for it.

We will always have an affordability crisis as long as this circle of stupidity persists.

Continually propping up rents and property prices with taxpayers money will exacerbate the problem.

It can only be stopped by

A. Coming to our senses and stopping the madness.

B. Allowing the madness to bankrupt the country, as before and we start at square 0 again

Speaks for itself

headline is no surprise, CIF looking for favourable treatment as ever.

But this is a real strange one:

Landlords now an official member of the CIF?