Youād imagine thatās probably bad news for the housing market in the short termā¦ Costs rising and sales prices dropping will hardly encourage investment in new houses
Iād imagine the biggest issue is the price of building.
Agreed. So much so in fact thats what I said
No you didnāt, but itās new year so Iām not going to argue pointlessly on here. Iām only here now cos Iām in the bath trying to warm up after cycling.
The market is caught in a sticky spot now.
We desperately need houses, but prices are at their limit and material costs wonāt allow them to built much cheaper. Dealing with NIMBYs with objections is also adding to project costs with all the delays.
Back to mud huts for a few years till things settle down.
Irelandās housing crisis āon a different levelā with population growing at nearly four people for every new home built
And all that while we have the most output in Europe.
Irish housing completions forecast to be strongest among 19 European countries: EY-Euroconstruct).
I see we have the usual voices out like Rory Hearne who deny migration has an impact while referencing these statsā¦.
Cragganowen could be full of squatters before the year is out.
I read his book. First half interesting enough but the second half was a self-indulgent pity party where somehow he seemed to think he was some sort of victim.
āUnviableā ā Construction stalls on more than 50,000 Dublin apartments despite having planning permission
The government have been told this for going on 8 years now. A report was issued in 2016 that Iām sure Iāve posted here saying as much, which has been followed up by reports bi annually saying its getting worse. And nothing will be done.
Bring back the BTR vulture funds!
There was a segment on the Claire Byrne Show (I know) this morning where some lad from the Construction Federation was lamenting the fact that rental yields are no longer sufficiently high to attract the vulture funds & the construction industry needs support. I really felt for him.
[quote=āTreatyStones, post:595, topic:22841ā]
Unviableā ā Construction stalls on more than 50,000 Dublin apartments despite having planning permission
The LDA should compulsory purchase these sites and build them. They have planning and are ready to go. The Government own the 50,000 apartments.
The developers here wont build because the price they paid for the land at the time. Pre covid a site that could produce 200 apartments would be bought for ā¬20m. Now with building costs substantially more and with interest rates, the profit is gone.
No sites are now changing hands. The only one buying sites are the LDA.
Now a site that could build 200 apartments is now only worth ā¬10m. Problem is that the site owner still wants ā¬20m and isnāt selling because in their head their neighbour got ā¬20m a few years ago.
The developers will try wait until DCC allow higher developments and then go back in with revised planning. Thats not happening anytime soon.
The developer isnt going to build unless the are pushed into it or given some incentive and until the site owners realise they arenāt going to get the pre covid money then everything will remain at a standstill.
The housing problem will get much worse before it gets betterā¦