I put a box room up on daft during the summer and eventually got a suitable person after 6 weeks and only 4 viewings (no Irish). I put another room in the same house on daft two weeks ago and got 20 viewings in two days. One Irish person. The rest broke down to those leaving the Southern European summer working market, people wanting to get into an Irish construction related industry, those who have just left college and one student. Few, if any, of these new immigrants can afford to become a FTB in Ireland.
By Christmas those with a place will stay, those without will go home and say to their friends that there is no room in Dublin and the rental price is too expensive versus the starting wages that are in Ireland. So the investment sellers will find in January that their property has been on the market for 3 to 9 months. This might be a good time to approach them saying that you'll look after/rent their place until the summer selling season and move out then, at which time it won't sell anyways.
I wonder if Cowan realised that as more investors put there properties on the market, where Irish FTBs will wait (and can wait longer than the vendor), the fewer economy fuelling cheap labour immigrants will stay (too expensive to rent when the lease comes up). They might say "lets go home for Christmas" and either return to London in the new year to work on that Olymipc thingy, or take out an NIB mortgage on a Polish(or relative homeland) property and open a business with all the money that they have made here over the last five years. Especially with €8bn in EU infrastructure going into Poland and a stream of cheap Romanians to employ as they once were by the Irish. How many immigrants will return in the new year, how many new ones will come with them, what will our reputation as the European employment promised land in 2007 and how many unsold properties will there be?
