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 Post subject: Re: House price rises needed to ease homes shortage: Nama ch
PostPosted: Sun Sep 21, 2014 12:17 pm 
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Eschatologist wrote:
Barney Gumble wrote:
Anyone have comparable Irish numbers to hand?

Taking the three common categories from Payscale.com and using 1.26 as the exchange rate:

UK/Ireland
Carpenter: €13.95/€15.38
Construction Laborer: €9.95/€9.83
Construction Foreman: €16.42/€16.62

Not substantially different. Haven't done regional comparison.

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


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 Post subject: Re: House price rises needed to ease homes shortage: Nama ch
PostPosted: Sun Sep 21, 2014 4:13 pm 
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would the chief of NAMA care to elaborate how anyone is going to be able to pay for these over-priced semi-ds of the future? Utterly sick of hearing how developers can't afford to build. It's time for a debate on wages, affordability and house prices. The average wage here does not support the the current rate of housing price inflation or current rent levels either.


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 Post subject: Re: House price rises needed to ease homes shortage: Nama ch
PostPosted: Sun Sep 21, 2014 5:16 pm 
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On the MF radio show earlier, a studio guest said that if you wanted to build a single house in Dublin right now, then there's 1 of the local authorities that require 54k in development fees upfront before a shovel hits the ground.

So compare labourers,carpenters etc all you want to the countries around us....it's the Govt whats screwing the us both in building costs, and then through keeping selling prices (and indeed supply) at inflated levels


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 Post subject: Re: House price rises needed to ease homes shortage: Nama ch
PostPosted: Sun Sep 21, 2014 5:40 pm 
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Limerick City fees

Looks like fees of a few grand.

Where €54k comes from is anybody's guess.


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 Post subject: Re: House price rises needed to ease homes shortage: Nama ch
PostPosted: Sun Sep 21, 2014 6:01 pm 
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FreeFallin wrote:
On the MF radio show earlier, a studio guest said that if you wanted to build a single house in Dublin right now, then there's 1 of the local authorities that require 54k in development fees upfront before a shovel hits the ground.

So compare labourers,carpenters etc all you want to the countries around us....it's the Govt whats screwing the us both in building costs, and then through keeping selling prices (and indeed supply) at inflated levels

If I recall correctly 40% of the cost of a new build is paid to the government in taxes/charges.


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 Post subject: Re: House price rises needed to ease homes shortage: Nama ch
PostPosted: Sun Sep 21, 2014 6:08 pm 
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Luan wrote:
FreeFallin wrote:
On the MF radio show earlier, a studio guest said that if you wanted to build a single house in Dublin right now, then there's 1 of the local authorities that require 54k in development fees upfront before a shovel hits the ground.

So compare labourers,carpenters etc all you want to the countries around us....it's the Govt whats screwing the us both in building costs, and then through keeping selling prices (and indeed supply) at inflated levels

If I recall correctly 40% of the cost of a new build is paid to the government in taxes/charges.


True, but that includes payroll taxes and vat on materials etc.
The lad on the radio was very adamant about the 54k up front payment before work could start on any build...must be Dublin Corp he was referring to as surely the likes of Fingal aren't charging that for 1-off builds in north county Dublin


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 Post subject: Re: House price rises needed to ease homes shortage: Nama ch
PostPosted: Sun Sep 21, 2014 6:20 pm 
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BoyRacer wrote:
SBP reports up to 1600 BTL repossessed houses and apartments coming to market courtesy of AIB and BOI.


What is that as a % of the total number of mortgages where not a penny has been paid in the last 2 years?


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 Post subject: Re: House price rises needed to ease homes shortage: Nama ch
PostPosted: Sun Sep 21, 2014 6:21 pm 
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HouseHunter6 wrote:
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.

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 Post subject: Re: House price rises needed to ease homes shortage: Nama ch
PostPosted: Sun Sep 21, 2014 6:53 pm 
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Barney Gumble wrote:
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.

http://www.siptu.ie/divisions/utilities ... nindustry/

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

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 Post subject: Re: House price rises needed to ease homes shortage: Nama ch
PostPosted: Mon Sep 29, 2014 9:07 pm 
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HouseHunter6 wrote:
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".


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 Post subject: Re: House price rises needed to ease homes shortage: Nama ch
PostPosted: Mon Sep 29, 2014 10:31 pm 
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NAMA boss now says that rices are god to go on the building front
http://www.irishtimes.com/life-and-styl ... -1.1945576
Quote:
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....


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 Post subject: Re: House price rises needed to ease homes shortage: Nama ch
PostPosted: Mon Sep 29, 2014 11:19 pm 
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ryaner wrote:
HouseHunter6 wrote:
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.

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 Post subject: Re: House price rises needed to ease homes shortage: Nama ch
PostPosted: Tue Sep 30, 2014 10:18 am 
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FreeFallin wrote:
NAMA boss now says that rices are god to go on the building front
http://www.irishtimes.com/life-and-styl ... -1.1945576
Quote:
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
Quote:
“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.


|O

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 Post subject: Re: House price rises needed to ease homes shortage: Nama ch
PostPosted: Tue Sep 30, 2014 10:28 am 
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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.


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 Post subject: Re: House price rises needed to ease homes shortage: Nama ch
PostPosted: Tue Sep 30, 2014 10:57 am 
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Quango Unchained wrote:
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.

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The real damage is done by those millions who want to 'get by'. The ordinary men who just want to be left in peace. Those who don’t want their lives disturbed by anything bigger than themselves. Those with no sides and no causes. Those who won’t take measure of their own strength, for fear of antagonizing their own weakness. Those people who roll up their spirits into tiny little balls so as to be safe. Safe?! From what?
Sophie Scholl


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