House price rises needed to ease homes shortage: Nama chief

[gaius]

@HouseHunter6

Assuming these properties do actually make it to the market, would most not be from outside Dublin (hence having little impact on Dublin prices)?

That’s the big myth of our times. Jumbo mortgages comprise most of the arrears by value and jumbo mortgage = Dublin.

[Eschatologist]

@Barney Gumble

So we may need to look elsewhere to explain the bulk of the discrepancy.

Indeed. But I just remembered there is some collective bargaining for construction wages.

siptu.ie/divisions/utilities … nindustry/

Since 2011 between €14-18/hr. Not exactly eye-watering.

[ryaner]

@HouseHunter6

Assuming these properties do actually make it to the market, would most not be from outside Dublin (hence having little impact on Dublin prices)?

BOI are currently doing market research to see if people would be interested in “advanced viewings of properties before they come to market”.

[FreeFallin]

NAMA boss now says that rices are god to go on the building front
irishtimes.com/life-and-styl … -1.1945576

Nama chairman Frank Daly has played down suggestions of a property bubble similar to that of the 2000s, saying both lenders and borrowers are acting much more prudently in relation to house purchases.
Mr Daly said he believed it was now commercially viable for builders and developers to start building new houses, but he didn’t envisage a repeat of what happened in the 2000s when property prices soared.
“Despite the downturn and the actual drop in property prices, the actual cost of building has stayed pretty steady and it’s only now that the selling price has started to cut through that line of costs and it’s becoming commercial to start building again,” said Mr Daly…

[Open_Window]

@ryaner

@HouseHunter6

Assuming these properties do actually make it to the market, would most not be from outside Dublin (hence having little impact on Dublin prices)?

BOI are currently doing market research to see if people would be interested in “advanced viewings of properties before they come to market”.

We are in safe safe hands.

[Dubhgeannain]

@FreeFallin

NAMA boss now says that rices are god to go on the building front
irishtimes.com/life-and-styl … -1.1945576

Nama chairman Frank Daly has played down suggestions of a property bubble similar to that of the 2000s, saying both lenders and borrowers are acting much more prudently in relation to house purchases.
Mr Daly said he believed it was now commercially viable for builders and developers to start building new houses, but he didn’t envisage a repeat of what happened in the 2000s when property prices soared.
“Despite the downturn and the actual drop in property prices, the actual cost of building has stayed pretty steady and it’s only now that the selling price has started to cut through that line of costs and it’s becoming commercial to start building again,” said Mr Daly…

Again with the costs argument

“Despite the downturn and the actual drop in property prices, the actual cost of building has stayed pretty steady and it’s only now that the selling price has started to cut through that line of costs and it’s becoming commercial to start building again,” said Mr Daly.

[Quango_Unchained]

Do banks lend to those looking to self-build?

If it was straight-forward enough to obtain financing for building your own homes, surely that would help keep a lid on things.

[Dubhgeannain]

@Quango Unchained

Do banks lend to those looking to self-build?

If it was straight-forward enough to obtain financing for building your own homes, surely that would help keep a lid on things.

I’m looking in the East Meath area. Have been living in Ratoath for 5+ years. I work in Meath also, and have done for 6 years, but am not eligible to apply for planning permission.

FPP sites where local needs don’t apply is the only option for me and a they’re like hens teeth. I’ve only gone to look at one site this year. I presented the plans (2 storey, four bed, 1,900sqft) for that site to a QS friend of mine and he reckoned it could definitely be done for less than €200k for a builders finish.

I spoke to PTSB and they were willing to lend for it but I needed to submit a seperate application, naturally. In the end, the site really didn’t fill us with hope. It appeared extremely flood prone.

[magoko101]

Dubhgeannain, I know of a recently married couple renting in your area. Both born n raised and working there and they were turned down based on insufficient local need. One wonders who is building all of those MacMansions out around there

[Luan]

@Dubhgeannain

@Quango Unchained

Do banks lend to those looking to self-build?

If it was straight-forward enough to obtain financing for building your own homes, surely that would help keep a lid on things.

I’m looking in the East Meath area. Have been living in Ratoath for 5+ years. I work in Meath also, and have done for 6 years, but am not eligible to apply for planning permission.

FPP sites where local needs don’t apply is the only option for me and a they’re like hens teeth. I’ve only gone to look at one site this year. I presented the plans (2 storey, four bed, 1,900sqft) for that site to a QS friend of mine and he reckoned it could definitely be done for less than €200k for a builders finish.

I spoke to PTSB and they were willing to lend for it but I needed to submit a seperate application, naturally. In the end, the site really didn’t fill us with hope. It appeared extremely flood prone.

Out of curiousity including the cost of site, develment levies, professional fees etc would it have been cheaper to buy?

[Dubhgeannain]

Not a hope. The asking for such a house in that particular area is north of 300k.

[catarella]

I know some NAMA houses, new builds - in a smallish Cork town, Macroom. They’re decent enough houses in a good location in the town. I think the builder was Fleming.

These are being sold in the same way as second hand houses, i.e they’ve a guide price of 132k. However there’s demand and the last I heard all of the handful on houses were bid over 140k.

This could be argued as being “good” for the taxpayer but it seems unusual that new houses aren’t sold at a set price. One of the attractions of new builds for many buyers is the fixed price.

It seems a little unusual for a state agency to be flogging houses in this way, or at least to be allowing its sales agents to do so.