Current public sentiment towards the housing market?

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Andy Doof said:
There will never be enough houses in Dublin itself so demand will always be there.
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Andy Doof said:
2) There is not an over-supply housing...Supply is only meeting demand now.
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If real demand is present, inventories wouldn't be rising so quickly!!! Supply is starting to exceed demand, imho: http://irish-property-bubble.blogspot.com, , etc.

With the rising inventories and current property vacancy rate, saying that there isn't an over-supply is crazy talk.....and wait until the migrant workers leave.....

An astonished long-time lurker......
 
What relevance does a 15% vacancy level have?!
Surely we can all explain that
 
Andy Doof said:
What relevance does a 15% vacancy level have?!
Surely we can all explain that
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Assuming this is a serious question:

You state that demand is only now catching up with supply. If that were the case, our vacancy rate would be touching zero because very single occupable accommodation unit would be occupied. The problem is, on average, the US, which is already hitting a property bust, has a lower vacancy rate than we have, and I think, although I don't have time to go looking for the figures that the European average is below 10%.

If your going to respond that "they're all holiday houses", I'd like to remind you that the CSO figures suggested that they had accounted for holiday houses. You talk a bit of anecdotal evidence - well if you read through the 6000 plus entries on this thread to date, you will find several accounts of completed apartment blocks with very low occupancy rates but where few properties were (at the time) for sale.

High vacancy is interesting at a time where much property derived wealth is from capital appreciation and not rental generated. It is an indicator of over-supply.

What's interesting about the two graps on daftwatch is that I felt that as the property market started to turn down, the rental market would temporarily tighten and rents would start rising because investors were pulling from the rental market and entering the sales market. I think this has happened already.
 
Just on my demand will always be there in Dublin itself point...at the end of September/Early October a development was launched in Terenure-College Park I think. Houses starting at 1.2M or 1.5M. They sold 50 the first weekend. I may be slightly off with the figures but that's roughly it.
I think it backs up my point about the periphery being most at risk, demand remaining in Dublin etc
 
nacho_libre said:
Maybe he just has a difference of opinion to most of the people on here?
I'm sure he's entitled to that.
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100%. But when he starts attacking the messagers (eg self styled experts etc) rather than the message it negates anything he has to say.

I for one welcome any opinion, bull or bear.
 
Andy Doof said:
Just on my demand will always be there in Dublin itself point...at the end of September/Early October a development was launched in Terenure-College Park I think. Houses starting at 1.2M or 1.5M. They sold 50 the first weekend. I may be slightly off with the figures but that's roughly it.
I think it backs up my point about the periphery being most at risk, demand remaining in Dublin etc
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No it doesn't. You have to bear in mind that there is a very limited sector of the population at large who have more than a million euro to splurge on houses. It only applies to a limited subset of demand. The truth is if I had 3 million euro in the bank, God nor man wouldn't get me living in Terenure or College Park. I know someone who's desperately trying to find a house to afford in Cavan who is bitter enough that demand in the area is rising because it's considered to be commutable - with the result that she is still priced out of the area. In Cavan. The property market is not limited to million euro purchases.
 
Andy Doof said:
So fecking what...they're the most up to date figures available. Figures, fact, concrete, not the speculation we are engaged in.
To be fair CelloPoint, I think the shoeshine comment wasn't meant to be offensive. Both are good yardsticks for "the word on the street"
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No Andy we dont like facts and figures on thie forum, we like opinions, suggestions, evening hearld headlines, speculations, we like articles from those who have been consistently wrong for the last 5 years, (they might be right someday though, even the broken clock is correct twice a day). we also hate bankers as they have vested interest in the market, we think they are spin masters and dont care about credibility.
 
Dannybouy said:
Tell us max when the redundancies start. the first to feel the pain are real estate agents as their will be a stand off no sales no commissions. the agents dont care if prices fall as long as sales happen
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3 people have already been let go from our office. I can see more redundancies in the near future. You're right. It will start with estate agents, then the mortgage people, the banks, the builders, their suppliers and so on. It's already happening.
On another note. My aunt bought a house in up-state New York 6 months ago. It's already dropped 60 grand.
 
Calina said:
No it doesn't. You have to bear in mind that there is a very limited sector of the population at large who have more than a million euro to splurge on houses. It only applies to a limited subset of demand. The truth is if I had 3 million euro in the bank, God nor man wouldn't get me living in Terenure or College Park. I know someone who's desperately trying to find a house to afford in Cavan who is bitter enough that demand in the area is rising because it's considered to be commutable - with the result that she is still priced out of the area. In Cavan. The property market is not limited to million euro purchases.
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Speaking of Cavan those new semi-d's in the Radisson estate in Cavan are going for 650K. !
 
I never received a census form...so I can only assume my property is down as vacant. My parents were abroad so my family home is down as vacant. Their house in the country was empty. My brother stayed in a mate's apartment that night, the mate never got a form and my brother didn't put himself down on his own cause he wasn't there.
My tenants didn't get one either
The whole thing was a complete joke
 
I'm not making those instances up!
That's just my family...don't get me started on friends
 
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