“Approval of additional ‘build to rent’ supply will further increase rental prices and house price inflation.”
We have thousands of people looking for rental accommodation, the prices remain high because there is a massive demand.
More supply coupled with a penalty for vacant properties will reduce rental prices.
McDonnald is playing the parish pump here.
There’s a massive shortage of build to lets in Dublin, particularly 1 beds.
Some comments here that are pretty important as most people just read the headline
“Councillors expressed frustration and concern about the dominance of the build-to-rent model – which are homes in complexes just for renters, and subject to different standards to those for owner-occupiers – in the new housing planned for Cabra.
Some said the homes in the proposed Faussagh Avenue complex will be too expensive for most locals to rent. The model is “purely profit gouging”, said independent Councillor Cieran Perry.
Councillors also pointed out that the application contravenes Dublin City Council’s current city development plan, which lays out what can be built where, in seven different ways”
So it was objected to on the basis of affordability (and it’s mentioned in the articles councillors welcome the development just not the price and build to rent – and also that it looks like it was rejected because it wasn’t up to DCC development plans not because it was objected to.
Build to rents serve no purpose only to enrich investors.
People say “we need more rentals”.
First off, the rentals are no good if they’re going to be left empty until rich tech workers come here and pay the extortionate rates.
Second of all, new houses need to go for sale. There’s tens of thousands of people renting who want to buy. When these people buy, the rentals then become free for those who want to rent. You’re killing two birds with one stone.
With build to rents you’re only satisfying those who want to rent (at huge prices btw) whereas build for sale satisfies buyers demand and it means more rentals so both renters and buyers benefit.
The whole “we need more rentals” reminds me of the comments we now see such as “we need more hotels”. No we don’t need more hotels, we need more houses so that all those homeless and refugees living in hotels can move out and let those who want to book rooms in hotels can do so.
EDIT: Lads, if you think the supply of one bedroom apartments rented at 2.7k per month, no matter the number available, is going to to drop rents you are wrong. And there’s pages and pages of rentals for this price available right now on daft, so if you’re happy with these prices, go ahead and rent them right now.
The party which is going to solve the housing crisis
Worsening the housing crisis is good for SF’s election chances.
Agree with it or not Sinn Fein a pretty consistent on the type of developments they oppose. They tend to oppose developer led build to rent schemes that will be unaffordable to most people. In particular ones built on public land given over to private developers (not sure if that’s the case here). I get it, I am not sure I agree. But I don’t think its some kind of Sinn Fein conspiracy or inconsistent with their housing policy.
These will be unaffordable for most and will only free up another 110 rentals or so assuming people move from an old rental to these. It’s unlikely people renting these will be moving cheap rentals so I can’t really see how these will impact on the affordability of renting in Dublin.
Also, demand is not the only thing that drives up prices. If a small few developers own the majority of rental properties then without competition they can inflate prices.
So many people here are in dreamland if they think a drip fed increase in one bed BTRs for 2.7k per month will lower prices.
Is there any suggestion that McDonald’s observation carried specific weight? Or was it purely performative?
On the larger issue of property availability and numbers. there is a serious element of supply and demand. With our current national unlimited migration policy as well as having one of the largest percentages of young people in our population mix in Europe, there is a lot of pressure on demand.
I get that some people do not like the build to let model. However, the people that will eventually live in those apartments would not be competing with those looking to buy or rent in other parts of the area. These people have to live somewhere.
Sinn Fein and other politicians cannot have it both ways, you cannot object to the building of residential units and then in the next sentence complain about the lack of housing!
Sein Fein are largely considered to be a government party in waiting, as such, they are going to be watched remarkably closely. Hopefully people will realise that some of their politicians and officials are as a morally flexible and incompetent as the shower that we have right now.
To the people that say that all houses built need to go on sale. With rising land prices, endless complicated building regulations and rising inflationary construction prices etc it costs tens of millions build these developments. Local government doesn’t have the resources or the expertise to do so. So outside investment is needed, the alternative is that nothing gets built, and the existing rental demand shifts to elsewhere in the community, driving up prices for everyone else.
The property market is complicated in some areas, but it is still subject to some simple laws of supply and demand.
Its becoming more believable that our housing crisis and huge rise in costs is actually deliberate and intentionally, Even if it is a direct result of inaction, it’s still a decision made to not change the system.
I would consider myself more in line with Economic Liberalism but after the last few years of pure and utter failure from our government regarding the essentials to run this economy, I’m leaning towards burning this whole government to the ground.
The opposition are actively taking measures to ensure the biggest crisis the government is facing, remains a crisis?
Well I’m shocked, shocked I tell you.
How will 1 bed apartments costing 1800 and more per month solve the housing crisis?
Who can afford these rates?
This only creates a target for other landlords to aim for driving up rents for everyone else.
Why cant people see that the private sector is only interested in profit. Who here beleives for one second that developers actively want to build more so they can drive down prices? Are ye well in the head?
The issue here is the gov and fg neoliberals idealogically opposed to state built housing which would actually drive down rents.
I’m very disappointed in Mary lou for this, anything at all would take the pressure off ,even build to rent apartments.
The fact is that I was really hoping sinn fein were going to flip the script and change things.
But turns out she’s just like the rest of them..
Somewhat related to this. But anybody who can build, should not require planning for standard looking, A1 rated homes. If it fits the area, nobody should be allowed object to somebody building there own home in a housing crisis.
The regulations and obstacles, people face deter and prevent people who can from doing so.
They can’t build new homes, apartments or houses, without planning infrastructure. New builds need schools, GPs, dentists and childcare. Adding 100+ new families to an area that already has issues with school places and GP capacity is asking for trouble.
17 comments
This is the development.
https://dublininquirer.com/2022/03/30/in-cabra-owners-of-long-vacant-pub-propose-building-117-rental-apartments-on-site
“Approval of additional ‘build to rent’ supply will further increase rental prices and house price inflation.”
We have thousands of people looking for rental accommodation, the prices remain high because there is a massive demand.
More supply coupled with a penalty for vacant properties will reduce rental prices.
McDonnald is playing the parish pump here.
There’s a massive shortage of build to lets in Dublin, particularly 1 beds.
Some comments here that are pretty important as most people just read the headline
“Councillors expressed frustration and concern about the dominance of the build-to-rent model – which are homes in complexes just for renters, and subject to different standards to those for owner-occupiers – in the new housing planned for Cabra.
Some said the homes in the proposed Faussagh Avenue complex will be too expensive for most locals to rent. The model is “purely profit gouging”, said independent Councillor Cieran Perry.
Councillors also pointed out that the application contravenes Dublin City Council’s current city development plan, which lays out what can be built where, in seven different ways”
So it was objected to on the basis of affordability (and it’s mentioned in the articles councillors welcome the development just not the price and build to rent – and also that it looks like it was rejected because it wasn’t up to DCC development plans not because it was objected to.
Build to rents serve no purpose only to enrich investors.
People say “we need more rentals”.
First off, the rentals are no good if they’re going to be left empty until rich tech workers come here and pay the extortionate rates.
Second of all, new houses need to go for sale. There’s tens of thousands of people renting who want to buy. When these people buy, the rentals then become free for those who want to rent. You’re killing two birds with one stone.
With build to rents you’re only satisfying those who want to rent (at huge prices btw) whereas build for sale satisfies buyers demand and it means more rentals so both renters and buyers benefit.
The whole “we need more rentals” reminds me of the comments we now see such as “we need more hotels”. No we don’t need more hotels, we need more houses so that all those homeless and refugees living in hotels can move out and let those who want to book rooms in hotels can do so.
EDIT: Lads, if you think the supply of one bedroom apartments rented at 2.7k per month, no matter the number available, is going to to drop rents you are wrong. And there’s pages and pages of rentals for this price available right now on daft, so if you’re happy with these prices, go ahead and rent them right now.
https://www.daft.ie/property-for-rent/dublin-city
The party which is going to solve the housing crisis
Worsening the housing crisis is good for SF’s election chances.
Agree with it or not Sinn Fein a pretty consistent on the type of developments they oppose. They tend to oppose developer led build to rent schemes that will be unaffordable to most people. In particular ones built on public land given over to private developers (not sure if that’s the case here). I get it, I am not sure I agree. But I don’t think its some kind of Sinn Fein conspiracy or inconsistent with their housing policy.
These will be unaffordable for most and will only free up another 110 rentals or so assuming people move from an old rental to these. It’s unlikely people renting these will be moving cheap rentals so I can’t really see how these will impact on the affordability of renting in Dublin.
Also, demand is not the only thing that drives up prices. If a small few developers own the majority of rental properties then without competition they can inflate prices.
So many people here are in dreamland if they think a drip fed increase in one bed BTRs for 2.7k per month will lower prices.
Is there any suggestion that McDonald’s observation carried specific weight? Or was it purely performative?
On the larger issue of property availability and numbers. there is a serious element of supply and demand. With our current national unlimited migration policy as well as having one of the largest percentages of young people in our population mix in Europe, there is a lot of pressure on demand.
I get that some people do not like the build to let model. However, the people that will eventually live in those apartments would not be competing with those looking to buy or rent in other parts of the area. These people have to live somewhere.
Sinn Fein and other politicians cannot have it both ways, you cannot object to the building of residential units and then in the next sentence complain about the lack of housing!
Sein Fein are largely considered to be a government party in waiting, as such, they are going to be watched remarkably closely. Hopefully people will realise that some of their politicians and officials are as a morally flexible and incompetent as the shower that we have right now.
To the people that say that all houses built need to go on sale. With rising land prices, endless complicated building regulations and rising inflationary construction prices etc it costs tens of millions build these developments. Local government doesn’t have the resources or the expertise to do so. So outside investment is needed, the alternative is that nothing gets built, and the existing rental demand shifts to elsewhere in the community, driving up prices for everyone else.
The property market is complicated in some areas, but it is still subject to some simple laws of supply and demand.
Its becoming more believable that our housing crisis and huge rise in costs is actually deliberate and intentionally, Even if it is a direct result of inaction, it’s still a decision made to not change the system.
I would consider myself more in line with Economic Liberalism but after the last few years of pure and utter failure from our government regarding the essentials to run this economy, I’m leaning towards burning this whole government to the ground.
The opposition are actively taking measures to ensure the biggest crisis the government is facing, remains a crisis?
Well I’m shocked, shocked I tell you.
How will 1 bed apartments costing 1800 and more per month solve the housing crisis?
Who can afford these rates?
This only creates a target for other landlords to aim for driving up rents for everyone else.
Why cant people see that the private sector is only interested in profit. Who here beleives for one second that developers actively want to build more so they can drive down prices? Are ye well in the head?
The issue here is the gov and fg neoliberals idealogically opposed to state built housing which would actually drive down rents.
I’m very disappointed in Mary lou for this, anything at all would take the pressure off ,even build to rent apartments.
The fact is that I was really hoping sinn fein were going to flip the script and change things.
But turns out she’s just like the rest of them..
Somewhat related to this. But anybody who can build, should not require planning for standard looking, A1 rated homes. If it fits the area, nobody should be allowed object to somebody building there own home in a housing crisis.
The regulations and obstacles, people face deter and prevent people who can from doing so.
They can’t build new homes, apartments or houses, without planning infrastructure. New builds need schools, GPs, dentists and childcare. Adding 100+ new families to an area that already has issues with school places and GP capacity is asking for trouble.