Anyone else surprised at the level of new build sales?

I am! Seems a lot of people are choosing these over old stock. Is this being a bit overlooked in terms of the level of activity?

Here are some 2015 examples

Dunard, malahide - 13 houses
propertypriceregister.ie/We … 20malahide

Coill Dubh, Malahide - 13 houses

propertypriceregister.ie/We … 20malahide

Robswall, malahide - looks to be about 5/6 in here

propertypriceregister.ie/We … 20malahide

Sleepy Hollow, malahide - 5 houses

propertypriceregister.ie/We … 20malahide

Barnageeragh, Skerries - looks to be approx 20. these make up approx 25% of total sales in skerries in year to date (81 total sales)

propertypriceregister.ie/We … rnageeragh

Ridgewood, Swords - approx 50 houses

propertypriceregister.ie/We … d%20swords

Millers glen, Swords - approx 30 houses

propertypriceregister.ie/We … n%20swords

Knocksedan, Swords - 10+ houses
propertypriceregister.ie/We … n%20swords

The above 3 developments for swords make up approx 23% of all swords sales in 2015 to date.

Is it a preference for better energy ratings or just a preference for shininess?

New houses are not priced *that *much ahead of second-hand stock so you can see the attraction. Even just the simplicity of not having to changing anything for the first few years is worth something. That said, they almost always have crappy gardens, minimal driveways, and - even in established areas - you never quite know how a new estate is going to settle.

I’m not surprised by this. When you trawl through ad after ad and viewing after viewing of jaded and tired to downright horrible decor and quirky layouts a fresh, new place can seem appealing. Usually the designs and layouts are more suited to modern tastes e.g. large kitchens, fewer but larger rooms etc. Good BERs and so on. Though it’s true that the gardens and parking often suffer. Also new build interiors can go too far in the blingy direction which isn’t always that stylish IMO and you don’t want to pay extra for something you’d like to rip out. And with the small sites, you’ll be stuck with the layout as there generally isn’t much scope for future changes or extension.

I think vendors/ EAs aren’t considering renovation costs when pricing older properties. There’s a certain attraction to ‘putting your own stamp’ on a place but you need to have money leftover to do that and there’s hassle in it too, especially if you can’t move straight in - this last fact can make them a non-runner for a lot of people. Fixer-uppers really have to be significantly cheaper than renovated houses on the same road/ area to be attractive.

The CB deposit rules are making fixer uppers less feasible for people too I’d say as people can’t keep as much cash, if any, in reserve.

I agree with Ixelles about the site sizes which put us off a couple of developments.

Ixelles that was our issue too. We looked at Barnageeragh as linked in my post (having rented there before kids). Couldn’t fault the houses. The problem was the small gardens at the back, no garden to front, lack of a park/landscaping, no facilities (like a playground) and never knowing if/when the estate would be finished (building still ongoing).

I totally see the appeal. I just hadn’t realised how much activity there was in this sector of the market.

The lack of scope is a big downside. Even the attic is often already a room in some new houses - or is too shallow to convert down the line. You need to be pretty sure that your needs won’t change much (extra kid; elderly parent; au pair). If you are relatively sure of that, there is a lot to be said for genuine turn-key condition.

I know someone who bought in one of those listed above and their main reason was the drudgery of viewings, bidding, counterbidding, being outbid ad nauseum. They were anxious to buy, found a place that suited, with a bit of room to expand in the attic, and went for it. There’s a lot to be said for moving in with everything sorted. I am a design professional and my head has been turned by a couple of new developments as the thoughts of entering into a big project is a bit offputting, if I moved into an older house I’m sure i’d be coming up with all sorts of plans for improvement…as it stands we barely manage to keep the grass cut

I was certainly surprised that all (9?) showhouses of a certain development in Lucan sold in their first week for 700k+. Why would you live in Lucan if you could afford not to?

I think this is a major reason tbh… being in the midst of it myself I can definitely see the attraction in walking in with a booking deposit and avoid the whole drama not to mention hours spent viewing listings and crappy houses that need a ton of money spent on them… Could have prob learned a new language with all the time I have wasted looking at property the last few years :smiley:

Because 700k buys you more in Lucan than it does elsewhere. That location is on the nicer (older) side of Lucan near to St Catherine’s Park which is a nice place, although for supermarkets you presumably have to cross the N4.

If I hadn’t spent the last ten years or so “maturing” a new build I’d be quite tempted myself.

The other factor with new builds is that they tend to attract nesters, so your kids will have lots of others to play with. Some of the nicer parts of Dublin (Mount Merrion comes to mind) are quite geriatric by comparison.

A lot of buyers after paying a deposit have little money left over for renovations. So although they might prefer to buy a fixer upper and doing it up, it’s not an option even tho total borrowed money could have been the same. Banks generally won’t give you money on top of your mortgage for renovations these days.

Top decile?

economist.com/blogs/freeexch … g?fsrc=rss

4 more coil dubh and 1 Sleep hollow house in the last malahide update. (5 of the 9 in the update)

I think new builds will be 50% or more of the market next year.

Are these “new new” or ghost estates resumed/exhumed? I thought Country Tom told us nobody can afford to build at current prices.

Sleepy Hollow - apart from being named after a horror film - is a classic case of ‘Malahide Creep’. It’s in Kinsealy! And Kinsealy lane hits the back roads of Old Portmarnock before it gets anywhere near Malahide. Nice houses but not handy for the train or a village. There’s a Portmarnock/Malahide Educate Together on the Malahide Road there. Wonder if it’s temporary.

Coill Dubh is actually in Malahide and very close to Malahide Community School - which the Irish Times Feeder School report tells me is a good 'un!

If there were new builds in the areas I’m interested in, I might be interested in one; the energy efficiency and so on would be an attraction, and I find the prospect of renovation more stressful than fun.

Is there a list or study anywhere which tracks BER ratings by age of home?

It seems to me that BERs only started getting into the A range in the past 4 to 5 years (2010-2011)
I’d be interested to know what changed.
What’s the difference between a 2009 house and a 2015 house, are builders using new methods, are tradesmen now having to do their jobs properly, have materials changed etc.

Didn’t building regs change?