Why SUPPLY? Ireland and Dublin Housing Market
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- čas přidán 24. 02. 2021
- Why Ireland has a housing crisis, Why is the supply of housing such an issue in Ireland and Dublin. The supply and demand for housing are is the cause of economic factors such as employment, interest rates, economic growth etc. Supply on its own will not impact the price of the property. The main issue for the housing crisis in Ireland can be laid at the feet of the Irish planning system. Which resulted in a supply-constrained city and country, which will only be fixed by changing the planning policy.
Sorry about the video and sound, its not my best work, but I hope I put across the info in an understandable way. It makes sense in my head.
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What would you like me to my a video on?
Could you please do a video on tools/approaches for figuring out the value of a house. Price register could be helpful but it would only work if you can find a similar house in the same area sold in the last year or so.
I grew up in Clontarf. All of my family and friends still live there. I am in my mid-late twenties and my partner is in his late 20s. We are forced to rent out in the countryside in Kildare with no public transport or local amenities. We can’t afford to live anywhere in Dublin, despite both of us being working professionals in the corporate world in Dublin.
I really miss my family and friends but we have no option than to live where we do. It’s likely that we won’t get on the “property ladder” for at least another 10 years at this rate… or maybe we’ll have to wait until our parents kick the bucket. Although at that, we have siblings to split property with. We want stability and family close-by before we start our family but the biological clock doesn’t wait for the housing market to swing in our favour.
Feels so hopeless!
Great video! At the end of the day content is what matters most and this video had great content. Thank you!
Thanks Shane, the hustle continues stateside
cheers Carl, always trying to grow
Love the persistence with make thing video. Important topic. Good video Shane!
Normally one shoot and edit. This one took a long time. Editing was easier as a I didn’t take a pause. Thanks for the support
thanks for the informative video.
Thanks for the analysis!!
Thanks for the support
Thank you good sir
Thank you for the support
can u do a video how planning can be improve . keep up the good work . love it
I will try at some point
Good video. I would suggest you could have made your life a lot easier with a whiteboard and a marker 👍.
I have done in the past, just didn’t have one with me. Thanks for the support
I'd be interested in you opinion of the Metro Link project linking Swords to Charlemont. How propery prices are effected when linking a middle/working class areas in North Dublin to affluent wealthy privileged areas in South Dublin. Are values effected?
Interesting question. Might make a quick video on it this weekend
Hi Shane. Great video. Because of this lack of supply, and the fact that we are already 10 years behind, I think property is going to keep going up. I am a first time buyer and I want to buy my first rental. Do you think now is the time? Thank you
Thanks for the feedback. Timing an investment property is a little harder than a home. Hopefully supply will pick up in September and there might be some deals
Come to Galway lads. A house with acre of land costs €200k
Increase the income and non income benefit and they will flock there 😊
Hi Fleming. Thank you for this nice video. I just have one question. Do I need to be a licensed agent before I can wholesale properties in Ireland?
Thanks for the feedback. You would have to explain what you mean by wholesale in Ireland. And how you envision wholesale in the Irish market with the legal system. Property take months to close in ireland. You can close a sale in a few weeks in the US makes it much easier in the us.
@@shaneflemingre When I say wholesale, I mean contracting a property with a buyer at a higher price than with the seller. The wholesaler retains the price difference as a profit.
This issue in ireland is the contract side it will take months to get a option agreement completed and you will likely have to pay a deposit. You will then have to market the property which again could take months on the legal side. All a issue with you marketing something you don’t down. You will need a licence to market the property.
@@shaneflemingre Wish Ireland were like the US. Thanks anyways.
It is very useful, from time to time, to have a nerdy presentation of the basic economics of the Dublin property market. Economics basically boils down to supply and demand.
There is absolutely nothing good about suppressing demand for housing. Making more housing options available to meet people's needs is self-evidently in the public interest.
Of course, demand has to be solvent. But there would be no shortage of solvent demand in Dublin if only prices were reasonable.
As Shane quite rightly points out, the problem in Dublin is entirely on the supply side. That is what needs to be addressed.
The property market in Dublin is not plagued by the insoluble shortage of land to build on, like Manhattan, or extreme population density, as applies in the London or Paris regions. It seems to me that it is fundamentally about a deadly combination of restrictive planning and building policies, ideological hang-ups and vested interests.
The unavailability of reasonably priced housing in the medium-sized capital of a country with low population density, like Ireland, could easily be addressed by a combination of political will and common-sense. Selectively voting for TDs and councillors who do not oppose less restrictive planning practices would be a good start.
Totally agree on the voting of TD and councillors. Should ask on the door have you objected to any housing schemes. If so you are not getting my vote.
If asked the question directly, they would no doubt be tempted to deny. I imagine one would need to do a little bit of research oneself. @@shaneflemingre
Housing should not be a commodity. Rent caps need to be put in place, there needs to be a limit to the number of properties one person can own, and the government needs to buy back all of the houses bought by vulture funds.
So something a long the lines of communism then.
Rent caps have been proven to make things worse for renters in every country.
Where does the state get the money to buy all the properties back and who decides who lives there.
@@shaneflemingre The big scary C word oh my god. Yes actually, Ireland has been plundered by colonialism and now capitalism. We need more socialist policies.
Rent caps are only bad for the landlords who want to suck as much money from their tenants as possible.
The state can borrow money essentially interest-free. The government can rent the properties out at affordable rents, or on rent-to-buy schemes.
The reality is that if things don't change around here in the next 2-3 years, Ireland's young people will be forced to emigrate to countries where the government actually cares about its people and not just the approval of vulture funds and landlords who provide no real value to society.
We have differing views could go on for hours.
But I think we both have better things to do with our weekend.
There are monopolistic constraints try buying building materials in Dublin without buying from The Grafton Group or Roadstone. 10 euro for a cartridge of glue or 13 euro for Tech 7. Now try build a house! Ha ha.
mass immigration
It worked for generations of Irish
@@sarahann530 yes.....yes it did my friend