Follow @PoliticsIE
 
 
 
Page 1 of 6 12345 ... LastLast
Results 1 to 10 of 60

Thread: House ownership now at 1950s levels, renting up 50% and 40% of Dublin house purchases are for CASH,

  1. #1
    Politics.ie Member
    Join Date
    Apr 2011
    Posts
    2,150
    Mentioned
    0 Post(s)

    Default House ownership now at 1950s levels, renting up 50% and 40% of Dublin house purchases are for CASH,

    Speaking at the National Construction Conference in Dublin Lorcan Sirr,lecturer in the school of real estate and construction economics at Dublin Institute of Technology.gave a presentation of research which shows how the Irish property sector has fundamentally changed in a short space of time. House ownership has dropped dramatically to below 70% with the number of people renting now above 30% which is an increase of 50% since the end of the Celtic Tiger.

    While house prices in Dublin are slowing rising the overall trend is still downwards.
    Not taken into account by the CSO is that a whopping 40% of Dublin based house purchases are CASH purchases.

    IMHO based on this report some people out there have money for these things are are creaming off and raking it in on the rents.

    House ownership at 1950s levels, study shows | Irish Examiner
    The choice is yours...fear or love.
    Anhtony Kane.

  2. #2
    Politics.ie Member Dublin 4's Avatar
    Join Date
    Feb 2011
    Location
    Vision & Glory
    Posts
    12,986
    Mentioned
    0 Post(s)

    Default

    Quote Originally Posted by Lassie View Post
    While house prices in Dublin are slowing rising the overall trend is still downwards.
    Prices in Dublin are collapsing...

    DaftDrop: The Irish house, apartment & site price history tracker.

    Yesterday's September Report from the CSO was pre-Property Price Register & as stated excludes the cash sales...

  3. #3
    Gimpanzee
    Guest

    Default

    Quote Originally Posted by Lassie View Post
    40% of Dublin based house purchases are CASH purchases.
    Source?

    I smell bullsh1t.

  4. #4
    Politics.ie Member Mountaintop's Avatar
    Join Date
    May 2011
    Location
    Caught between the moon and New York City
    Posts
    1,256
    Mentioned
    0 Post(s)

    Default

    Quote Originally Posted by Gimpanzee View Post
    Source?

    I smell bullsh1t.
    Last paragraph of the link in the OP. A nice lady from Lisney says so.

  5. #5
    Politics.ie Member BodyPolathick's Avatar
    Join Date
    Feb 2010
    Location
    Ireland – a Country that discards its young
    Posts
    624
    Mentioned
    0 Post(s)

    Default

    Quote Originally Posted by Lassie View Post
    Speaking at the National Construction Conference in Dublin Lorcan Sirr,lecturer in the school of real estate and construction economics at Dublin Institute of Technology.gave a presentation of research which shows how the Irish property sector has fundamentally changed in a short space of time. House ownership has dropped dramatically to below 70% with the number of people renting now above 30% which is an increase of 50% since the end of the Celtic Tiger.

    While house prices in Dublin are slowing rising the overall trend is still downwards.
    Not taken into account by the CSO is that a whopping 40% of Dublin based house purchases are CASH purchases.

    IMHO based on this report some people out there have money for these things are are creaming off and raking it in on the rents.

    House ownership at 1950s levels, study shows | Irish Examiner
    This type of presentation is pointless and does not address the real issues.

    1. No change in the housing policy will come from Kildare Street because too many politicians have a vested interest in maintaining the status quo.

    2. The abolition of mortgage interest relief is because

    1. We canít afford it
    2. To create a mini bubble in the existing stock before its abolished to demonstrate the economy has turned a corner (why property prices are used as a barometer I donít know, why donít we use our manufacturing industry insteadÖ..oh wait we donít have one too busy building houses)

    Given the property register is only weeks old and only provides the sale price, how do they know 40% of purchases are for cash, more PR spin from the ďprofessionalsĒ

    There is no change in the countryís housing policy and this research going by your link proves nothing because the real issues are not addressed. There is a lack of adequate family accommodation because government policy enabled the creation of apartments, when people queried why do we need apartments they were told by the property experts that is the way they do it in Europe we need to modernise, now we donít have enough adequate Family accommodate and the market is the problem.

    Far too many of the property academics and professionals speak out of both sides of their mouths itís no wonder so many havenít a clue what they are talking about.

    The demographic who are most likely to purchase property are queuing up at expos to get out of the country.

    Those lucky enough to be in employment are on reduced salary still too low to purchase a property despite the collapse in prices.

    Banks do not have the capital to lend so a combination of restricted funds, no employment opportunities, zero certainty in the economy in the medium term and too many houses are the reasons why people are renting.

    Certainly renting has its advantages, but so too has home ownership; leaving aside previous Government policy to increase home ownership. How many pensioners could afford to pay a monthly rent of Ä800-1400 on a State pension?

  6. #6
    Politics.ie Member Clanrickard's Avatar
    Join Date
    Apr 2008
    Location
    Last outpost of freedom
    Posts
    31,849
    Mentioned
    0 Post(s)

    Default

    Quote Originally Posted by BodyPolathick View Post
    2. To create a mini bubble in the existing stock before its abolished to demonstrate the economy has turned a corner (why property prices are used as a barometer I don’t know, why don’t we use our manufacturing industry instead…..oh wait we don’t have one too busy building houses)
    Most succinct point made all day. Spot on my dear boy.

  7. #7
    Politics.ie Member Victor Meldrew's Avatar
    Join Date
    Jun 2007
    Location
    Clubbed into insensibility
    Posts
    7,163
    Mentioned
    0 Post(s)

    Default

    The only "Market" that exists at the moment is the rental market.

    There is a glut of houses/apartments in bad areas/bad "developments".

    Given paranoia about pyrite / unsafe apartment blocks / bankrupt developers not honouring home bond, what we have is analogous to a used car dealer with a yard full of Alfa Romeos Fiats and Renaults whilst VW's and Toyotas are being held onto / sold within days.

    There is a shortage of "middle of the road" family homes in good areas. Those that come up are snapped up. Those that stay on the market are overpriced.

  8. #8
    Politics.ie Member Dublin 4's Avatar
    Join Date
    Feb 2011
    Location
    Vision & Glory
    Posts
    12,986
    Mentioned
    0 Post(s)

    Default

    Quote Originally Posted by Clanmcmillan View Post
    Spot on my dear boy, spot on.
    Quoite so old chep, quoite so

  9. #9
    Politics.ie Member Dublin 4's Avatar
    Join Date
    Feb 2011
    Location
    Vision & Glory
    Posts
    12,986
    Mentioned
    0 Post(s)

    Default

    Quote Originally Posted by Victor Meldrew View Post
    Those that come up are snapped up. Those that stay on the market are overpriced.
    These are from Dun Laoghaire - not much snappin there Vic, some of them go back to '10 & '11, all are dropping...

    14 Daft.ie house price drops & rises, in Co. Dublin using : "Dun Laoghaire", between May 20, 2011 and Oct 25, 2012.
    On page: 1
    Link  Type  Address  On Market Since  Description  Beds  Total Prices  Previous Price  Current Price  % From Previous  % From First  Last Change Detected 
    1 670959 Apartment For Sale Apt. 24 The Pavilion, Dun Laoghaire, Co. Dublin Sep 15, 2012 2 Bedrooms, 1 Bathroom 2 2 €355,000 €300,000 -15.49% -15.49% Oct 24, 2012
    2 666110 Detached House Royal Terrace House, Royal Terrace, Dun Laoghaire, Co. Dublin Aug 15, 2012 5 Bedrooms, 4 Bathrooms 5 2 €1,450,000 €1,395,000 -3.79% -3.79% Oct 17, 2012
    3 666919 Apartment For Sale Davesci House, Monkstown Crescent, Dun Laoghaire, Co. Dublin Aug 21, 2012 2 Bedrooms, 2 Bathrooms 2 2 €260,000 €249,950 -3.87% -3.87% Sep 26, 2012
    4 335700 Apartment For Sale Penthouse Apt Granitefield Manor, The Gallan At Granitefield Manor, Rochestown A, Dun Laoghaire, South Co. Dublin Jan 14, 2008 2 Bedrooms, 2 Bathrooms 2 4 €349,000 €300,000 -14.04% 0% Sep 26, 2012
    5 644340 Apartment For Sale Adelphi House, Georges Street Upper, Dun Laoghaire, Co. Dublin Mar 27, 2012 1 Bedroom, 1 Bathroom 1 4 €215,000 €199,500 -7.21% -16.88% Sep 22, 2012
    6 663916 Semi-Detached House 1 Hillview Drive, Off Pottery Road, Dun Laoghaire, Co. Dublin Jul 27, 2012 2 Bedrooms, 1 Bathroom 2 2 €319,950 €299,950 -6.25% -6.25% Sep 1, 2012
    7 652267 Semi-Detached House 11 Wellington Street, Dun Laoghaire, Co. Dublin May 15, 2012 3 Bedrooms, 1 Bathroom 3 2 €380,000 €330,000 -13.16% -13.16% Aug 11, 2012
    8 564912 Apartment For Sale Adelphi House, Upper Georges Street, Dun Laoghaire, Co. Dublin, Dun Laoghaire, South Co. Dublin Nov 3, 2010 2 Bedrooms, 2 Bathrooms 2 3 €350,000 €330,000 -5.71% -16.46% Jul 7, 2012
    9 622733 Terraced House 20 Wellington Street, Dun Laoghaire, South Co. Dublin Oct 21, 2011 3 Bedrooms, 1 Bathroom 3 3 €200,000 €195,000 -2.5% -9.3% Jun 16, 2012
    10 644176 Apartment For Sale 1 Eaglewood Mews, Rochestown Avenue, Dun Laoghaire, Co. Dublin Mar 27, 2012 2 Bedrooms, 1 Bathroom 2 3 €275,000 €250,000 -9.09% -16.67% May 30, 2012
    11 591950 Detached House 1 Grangewood Court, Dun Laoghaire, South Co. Dublin May 13, 2011 4 Bedrooms 4 3 €495,000 €475,000 -4.04% -12.84% Apr 4, 2012
    12 635112 Detached House 89 Rochestown Avenue, Dun Laoghaire, South Co. Dublin Jan 30, 2012 4 Bedrooms, 2 Bathrooms 4 2 €435,000 €395,000 -9.2% -9.2% Mar 10, 2012
    13 613507 Apartment For Sale The Pavilion, Marine Road, Dun Laoghaire, South Co. Dublin Aug 29, 2011 2 Bedrooms, 2 Bathrooms 2 2 P.O.A. €400,000 0% 0% Feb 1, 2012
    14 578895 Terraced House 22 Clarinda Park East, Dun Laoghaire, South Co. Dublin Feb 22, 2011 10 Bedrooms, 10 Bathrooms 10 2 €685,000 €595,000 -13.14% -13.14% Sep 21, 2011
    DaftDrop: The Irish house, apartment & site price history tracker.

  10. #10
    Politics.ie Member Aindriu's Avatar
    Join Date
    Jun 2007
    Location
    Somewhere up in the Wicklow mountains digging an even deeper nuclear shelter
    Posts
    8,689
    Mentioned
    0 Post(s)

    Default

    You forgot to add the main issue with renting being that renters have effectively NO legal protection meaning that they can be dumped on the streets with just 4 weeks notice for extremely dubious reasons. As a renter myself I can truly state that we renters need legally guaranteed protection of tenure. The current lease used here is not worth the paper it is printed on legally as far as the tenant is concerned.
    Quote Originally Posted by BodyPolathick View Post
    This type of presentation is pointless and does not address the real issues.

    1. No change in the housing policy will come from Kildare Street because too many politicians have a vested interest in maintaining the status quo.

    2. The abolition of mortgage interest relief is because

    1. We canít afford it
    2. To create a mini bubble in the existing stock before its abolished to demonstrate the economy has turned a corner (why property prices are used as a barometer I donít know, why donít we use our manufacturing industry insteadÖ..oh wait we donít have one too busy building houses)

    Given the property register is only weeks old and only provides the sale price, how do they know 40% of purchases are for cash, more PR spin from the ďprofessionalsĒ

    There is no change in the countryís housing policy and this research going by your link proves nothing because the real issues are not addressed. There is a lack of adequate family accommodation because government policy enabled the creation of apartments, when people queried why do we need apartments they were told by the property experts that is the way they do it in Europe we need to modernise, now we donít have enough adequate Family accommodate and the market is the problem.

    Far too many of the property academics and professionals speak out of both sides of their mouths itís no wonder so many havenít a clue what they are talking about.

    The demographic who are most likely to purchase property are queuing up at expos to get out of the country.

    Those lucky enough to be in employment are on reduced salary still too low to purchase a property despite the collapse in prices.

    Banks do not have the capital to lend so a combination of restricted funds, no employment opportunities, zero certainty in the economy in the medium term and too many houses are the reasons why people are renting.

    Certainly renting has its advantages, but so too has home ownership; leaving aside previous Government policy to increase home ownership. How many pensioners could afford to pay a monthly rent of Ä800-1400 on a State pension?
    If you continue to elect idiots in elections, don't be surprised when the result is an idiotic government.

Page 1 of 6 12345 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •