Current Public Sentiment towards the Housing Market


#3641

Then they’d have to clean up all their own national champion arrangements and despite their rhetoric that’s a can of worms that they’d rather not want opened.


#3642

From looking at strategic infrastructure permissions.

  1. None are city centre but a goodly number are M50 area.
  2. Many are out in the Pale not in Dublin.
  3. They are not adding significant supply in Dublin and such an effect is at least a year away (if ever).

I entirely agree with the comment on 20,000 in the centre and their possible effect on the market overall. I think the constraint is REITS who don’t want to destroy their fat rental cash cows in the centre.


#3643

So is it a good time to buy or is it a good time to wait.

I get this stopped clock feelin’ I just can’t shake.

What are people thinking, or more importantly what are people feeling these days?


#3644

Honestly don’t think they will rise or drop much further but I agree there is a nervous feeling out there at the moment. Is it that we are getting closer to Brexit?


#3645

Sindo commissions a poll


#3646

Interesting the result of the “central bank rules are unfair” question, we’ve learned nothing as a whole.


#3647

Interesting the way they’ve drawn the pie charts, the “undecided” are omitted.


#3648

Housing crisis affects 10% of the population directly. And indirectly? Massive election issue.
75% of young workers have no prospect of buying a home, ever.


#3649

Did the Sindo poll identify what percentage of homes across the country HAVE NO KITCHEN??


#3650

Gerry Gannon loves to play Santa in North Dublin - another big announcement before Christmas. This time its 1,500 apartments in Clongriffin, almost all are build to rent:
independent.ie/business/iri … 46940.html
He’s using the Strategic Housing Development Rules to short-circuit the planning process. Nothing like the Christmas to catch the residents associations off-guard during nine-week consultation period. Pile 'em high, Gerry. No-one can say boo during a housing crisis. :sick:


#3651

Gerry Gannon loves to play Santa in North Dublin - another big announcement before Christmas. This time its 1,500 apartments in Clongriffin, almost all are build to rent:
independent.ie/business/iri … 46940.html
He’s using the Strategic Housing Development Rules to short-circuit the planning process. Nothing like the Christmas to catch residents associations off-guard - the nine-week consultation period will be over before their hangovers. 8DD
Pile 'em high, Gerry. No-one can say boo during a housing crisis. And NAMA is still your BFF :sick:


#3652

Some welcome developments, I think, from today’s IT:

irishtimes.com/business/personal-finance/has-the-fizz-left-the-irish-property-market-1.3762567?mode=sample&auth-failed=1&pw-origin=https%3A%2F%2Fwww.irishtimes.com%2Fbusiness%2Fpersonal-finance%2Fhas-it-peaked-what-s-going-on-in-the-property-market-1.3762567

Gist of it was that a few estate agents in South Dublin were interviewed and believe affordability is such an issue that prices are starting to fall, and the supply of homes on the market has increased substantially in recent months. They are seeing smaller numbers at viewings according to the article.

It also quotes a Goodbody report that ‘just one in 10 couples can afford to pay €430,000 for a home, yet one in 6 new houses were sold this year above this value’.


#3653

I’d love to hear more Pinsters views on this. Are we looking at a reduction in Dublin? How much and when? Oh that we could tell :open_mouth:


#3654

Maybe it’s finally time for the second hand crap to come down in price.

Whatever about affording half a million quid for a 2019-spec new build, half a million for all manner of 1960-1990s kips that need several hundred thousands’ worth of deep retrofit is nuts.


#3655

Maybe some resistance to the CBI caps will be dismantled piece by piece. To prevent them being a drag on the economy like.

rte.ie/news/business/2019/0121/1024596-philip-lane-ecb/


#3656

Anecdotal, but the house beside the outlaws that had been informally sale agreed since last summer finally has a Sale Agreed sign on the sign. I thought it was optimistically priced…

SherryFitz had been refusing to mark houses as Sale Agreed until funds were in place because so many were falling through/people were agreeing on multiple properties and then pulling out depending on which chain completed first…

One can only assume that someone had been waiting for a mortgage exemption in January in order to complete?


#3657

Criticisms of the Central Bank’s mortgage restrictions always focus on the FTBs trying to get on the “property ladder” but the real impact of the restrictions is felt at the top end of the market. No wonder the big estate agents hate the CBI.

In her review of the top sales of 2018, M. Lyons of IT is forced to admit that big sales were few and far between.

irishtimes.com/life-and-sty … -1.3719765

Prices for big country houses are falling. In addition to the mortgage limits, I think real demand for these houses is falling. Who wants a rambling old pile miles from anywhere? Kinsale seems to be a market of its own.

The biggest apartment sale was this strange entry:

Anyone guess why this transaction took four years?

The Examiner (as I would expect) does a much better job reporting sales in Munster but blames “a dip in economic confidence” for “a definite lull” in the “mid- to upper end of the market”. No explanation as to why the lower end of the market is untouched by “economic confidence”. No sign yet on the property register of those 2M+ Euro deals in Kinsale.
But credit to Tommy Barker for warning his readers:

irishexaminer.com/breakingn … 94401.html


#3658

#3659

There still seems to be a lot of unreality out there. There are currently 4959 properties up for sale in Dublin. The median sale price of these is 390k, last year the median selling price over the year was 338k (in December it was 325k). Only 2087 (42%) of the properties are offered at 350k or less - 1484 (30%) at 300k or less. The PPR is running at about 350 sales a week, the Myhome listings seem to be increasing at about 100 a week - so a hundred more homes added than are sold - I wouldn’t find that unusual at this time of year - sales should start to increase from April to July and will be reflected in the PPR roughly 2 months later.

The people I hear looking for houses are generally not looking in Dublin anymore - even the guy who thought he could see value in places like Churchtown is pissed off because prices just aren’t moving - his limit is 500k and he missed out on a couple of places last year - he’s going to sit tight where he is and do another year of saving. People in ‘ordinary’ jobs don’t want mortgages much over 300k - 1200 a month for 30 years is like committing yourself to an expensive rental for life with the risk associated with increasing mortgage rates and potential negative equity - plus you haven’t even started to pay for kids yet. Their parents have filled them in on what happened the last time around - wages are not that much higher and yet prices are nearly the same and it’s getting harder and harder to believe that the current interest rates will be around for ever.

The slow collapse in the stock market is having a jittery effect as well - I think it might be a significant factor in the high end market - not because wealthy people are short of money - they are sitting on cash waiting for a crash to pile in to stocks (and property) again - they are not going to buy property when it’s value is peaking.


#3660

Rent crisis: First sign of slowdown despite record prices
independent.ie/irish-news/rent-crisis-first-sign-of-slowdown-despite-record-prices-37799910.html

Based on Mr. Lyons’ latest daft report on rental prices.
daft.ie/report/ronan-lyons-2018q4-rental

w/ infographic