waterford house prices

kuang1

I'm a potential house buyer in the waterford city area. Was wondering if anyone else found that prices generally (while obviously have been dropping) are STILL over priced?
Especially when you consider what David McWilliams, Ronan Lyons (of Daft.ie) and other economists of repute believe to be a reliable equation for valuing a property:
REAL Value = The potential rental income of the property over a 15 year period.
e.g. If houses in a certain locality are renting for in or around €750 a month (might vary slightly depending on number of bedrooms from house to house) then you can be pretty safe in estimating the real value of such houses to be worth €750 x 12 (months) x 15(years) = €135,000

(although I'm taking 15 years as a general average of several different opinions I've come across on this. Ronan Lyons said "10 to 15 years". McWilliams says 14. A retired estate agent I spoke to recently used to use 16 years as his guide.)

Incidentally my intention is not to infuriate anyone in negative equity...

Dan133269

Reni10 will be along soon to give you his strong opinion

In short OP, property prices have almost certainly not hit the bottom in Waterford. They appear to be bottoming out in certain parts of the country, although that may very well prove to be short lived. I predict another drop starting early next year as the glut of buyers taking advantage of the last availability of mortgage interest relief will disappear and there will be much less demand. What we are seeing is the emergence of micro-markets. Waterford property prices have not hit bottom and will not do so for a while yet.

kuang1

pretty much what I've been thinking Dan.
but i have to say that i dont think we'll see the end of mortgage interest relief. (and not just wishful thinking on my part) for the government to be seen to kill off first time buyer's temptation to enter market? thats a murder of votes in their own view. watch this space to see the current scheme extended or an 'instead of' plan to entice first time buyers into the market replacing it.
its a given.
(already whisperings of exactly this in sunday newspapers yesterday)

reni10

Dan133269 wrote: »

Reni10 will be along soon to give you his strong opinion

Hello!

In short when they get to 100-110k for a 3 bed semi on the Dunmore road they are rock bottom until then hold your money is my advice...

The property price register is showing that many people have taken between 120-140k for 3 bedders even when they were advertised in the 160-200k range so it is getting there but still a way to go...

nkay1985

That's an interesting way of valuing a property alright. I'm sure there are houses for sale in Waterford that match those criteria. I'm sure there are also those that do not. Do you have a particular area and/or type of house in mind OP? I'm sure we could find examples of both within that subset.

spankmemunkey

A friend of mine bought a house over the road from greenfields i think its called Fairfields? for 90 someting thousand.

I reckon if you go to buy a new home you wont get as much movement on the price as you will with a private sale.

On the other hand how much are you paying for rent at the moment? if you hang on another 2 years you will pay roughly 18000 in renting thats if your paying say 750 a month, thats money you could have been putting off your mortgage!

kuang1

well spank thats the crux of it really. up to now we've saved a fortune by renting. the house i've me eye on is still tagged at 27 years rental value which is a long way off the theoretical 'real' 15 years. i'd probably be willing to pay 18 years for it seeing as i only intend to buy once!

stefan idiot jones

Tricky one, wait until the market hits rock bottom and pick up a "bargain" but in the meantime flush rent money down the toilet or buy now and be content with still a good price for a property ? If you have your eye on one in particular then be careful on biding your time as all eggs in one basket type of thing, and although most people intend to buy just once in their life, most house owners move a couple of times.
Try not to get too focused on waiting for the perfect time to strike as that time may never come or that one you are after may not be available for a thousand different reasons. Carpe diem.

twistables

IM in the same position as OP, the only new house being built is out in cnoic caislean ballygunner and they seem to be selling, anybody have any views or advice on those? PS sorry if I slightly hijacked the thread!

kuang1

If it was up to me stefan, i'd rent the rest of my life and be v happy doing so. Rent being 'dead money' is merely a state of mind if you ask me. If i pay for a service and get that service provided in a timely and satisfactory manner then that's a fair exchange in my book. Rent to me is a service i pay for.
A house is something my wife wants yesterday. Im happy to make her happy. We both have the attitude of 'if its for us it won't pass us'...
Que sera.

kuang1

twistables wrote: »

IM in the same position as OP, the only new house being built is out in cnoic caislean ballygunner and they seem to be selling, anybody have any views or advice on those? PS sorry if I slightly hijacked the thread!

Seem to be selling...double and triple check every 'fact' you hear when it comes to property...estate agents generate a lot of guff as if we all didn't know!

nkay1985

kuang1 wrote: »

Seem to be selling...double and triple check every 'fact' you hear when it comes to property...estate agents generate a lot of guff as if we all didn't know!

Nah they're selling alright. I've been living there for three years at this stage and they're building as they sell. A friend of mine was looking to buy here recently and there were very few still available. Still a few of the terraces left that have been built a while now but, as for the 3- and 4-bed semis, not a lot.

twistables

kuang1 wrote: »

Seem to be selling...double and triple check every 'fact' you hear when it comes to property...estate agents generate a lot of guff as if we all didn't know!

As nkay said there selling alright, being for two viewings 9 months apart and 12 have being sold in that time so they are moving,

Dum_Dum

twistables wrote: »

As nkay said there selling alright, being for two viewings 9 months apart and 12 have being sold in that time so they are moving,

Have you actually seen people move in? I suspect many 'sales' are internal transfers within property development companies - designed to rig the property price register.

kuang1

Clearly these houses have officially sold, but i can't be the only one who finds it odd when you look at the property register that the amount of these selling sticks out like a sore thumb. Are they THAT good value compared to other available houses around waterford? Perhaps but i for one doubt it.
Is part of it a herd mentality or snowball effect if its not property companies moving stuff around to fudge various statistics?!

nkay1985

People are moving in alright. I don't know what you mean by property companies moving around.

I think the reason for the selling is that they're the only new houses being built in the whole dunmore road area and people feel they're fairly priced.

spankmemunkey

The 2 biggest things going to affect house sales here in waterford and therefore the prices is the Jobs scene and the significant overhang of empty properties in Waterford.

Meadowbank has a huge amount of houses empty and some being vandalised quite terribly at this stage, someone should set up a neighbour watch there, sad to see brand new houses with smashed windows and central heating ripped out! does anybody know if that developer is still going? there must be over 20 empty houses there at least!, FoxWood in Kilbarry has 4 brand new empty houses and im sure there are plenty of other estates round with new unsold houses.

I cant see an end to the decrease in prices Waterford, World and European economic recovery then Ireland(although we seem to be stabilising) then Waterford and we are still 2 hours away from Dublin Airport. I think Foreign investment will look at things in that light.

A recovery of jobs and better prospects for waterford will see a rise but until then i think its going to drop, Sorry for having such a pesimistic outlook I wish it was different.

twistables

Dum_Dum wrote: »

Have you actually seen people move in? I suspect many 'sales' are internal transfers within property development companies - designed to rig the property price register.

Yeah people are moving in alright, young families so I doubt it's "internal transfers"
But agree trying to distinguish what is bull and what is fact from the development company is hard, seem to be resionable priced and moving we don't want to loose out!

kuang1

Well if ye go for it best of luck. Just be ballsey when negotiating. Or if you're like me not very good at it , get someone to talk on your behalf who is!
For me its very unlikely that we'll be buying in the next 3-6months. I might get to the point of making an offer on a place but the offer amount will come from that 15 year formula i mentioned earlier.
That may well result in me being told to take a running jump but so be it!

Dan133269

kuang1 wrote: »

pretty much what I've been thinking Dan.
but i have to say that i dont think we'll see the end of mortgage interest relief. (and not just wishful thinking on my part) for the government to be seen to kill off first time buyer's temptation to enter market? thats a murder of votes in their own view. watch this space to see the current scheme extended or an 'instead of' plan to entice first time buyers into the market replacing it.
its a given.
(already whisperings of exactly this in sunday newspapers yesterday)

Yes, I agree. The government just don't seem to be able to stop tinkering with the market. Even Brian Hayes a few weeks ago encouraging people to take advantage before Mortgage Interest Relief runs out seemed quite bizarre. He was talking as if it would be too late to ever buy if people waited til after Xmas. If they do extend it, it would be a complete reversal of what they said they were going to do, but then again, we've seen that before. I'm sure they'll think of some other scheme to interfere in the market.

spankmemunkey wrote: »

The 2 biggest things going to affect house sales here in waterford and therefore the prices is the Jobs scene and the significant overhang of empty properties in Waterford.

This is the crux of the issue. In Waterford at the moment, we have higher unemployment than the rest of the country and a large stock of houses for sale. This is in addition to the rest of the factors weighing heavily on property prices, i.e. austerity measures, reduced household income, banks' narrowed criteria for lending, introduction of property tax and water rates, uncertainty in eurozone and with Ireland's debt.

Personally, I think unless a once in a lifetime house came up for sale at a great price, it would be very unwise to buy now and not wait to see how things turn out for the next while. That being said, if one were to buy now, I think you would easily be able to negotiate 15-20% off the asking price of most houses.

By the way, there is an accommodation and property section here on boards, if it's any use. There is also the website - www.thepropertypin.com which is for discussion of all things related to buying and selling residential property in Ireland.

spankmemunkey

I think its stupid for the government to ged rid of mortgage interest relief its just like putting another nail in the coffin, or is it the sign of the confidence they have in the property market, maybe they think its so cheap to buy now that people dont need incentives?

The question i would like to have an answer to is if i was to save a few bob say 30,000 euro would it be clever of me to put it down off my mortgage? on one side i want to reduce the mortgage on a house i bought 3 years ago but on the other hand i feel like a clown handing over that much and the mortgage would still be about 145,000 euro! not that if i had that kinda money just if the numbers came up!;)

Dicky Pride

Bought my house for 250k 5 years ago. House across the road just sold for 90k this week.

kuang1

The question i would like to have an answer to is if i was to save a few bob say 30,000 euro would it be clever of me to put it down off my mortgage? on one side i want to reduce the mortgage on a house i bought 3 years ago but on the other hand i feel like a clown handing over that much and the mortgage would still be about 145,000 euro! not that if i had that kinda money just if the numbers came up!;)[/Quote]
Well spank id certainly put it to the mortgage or most of it at least. Assuming you're on a variable rate coz otherwise there are penalties involved. Be careful that the bank not lower your repayment amounts tho coz the intention should be to shorten life length of mortgage rather than reduce amount repaid every month. I've heard banks will do this automatically or encourage you to do it so you need to specify that you want to shorten the the life of the mortgage. Remember the longer a mortgage survives the more money the banks make. (tracker mortgages being an exception)

wellboytoo

I disagree that there is a large overhang of unsold properties in Waterford,other than ferrybank, try to buy a property at the moment loads on daft.ie etc but not really for sale as they are looking for four year old prices for them. Properties priced to sell are being snapped up immediately

spankmemunkey

kuang1 wrote: »

The question i would like to have an answer to is if i was to save a few bob say 30,000 euro would it be clever of me to put it down off my mortgage? on one side i want to reduce the mortgage on a house i bought 3 years ago but on the other hand i feel like a clown handing over that much and the mortgage would still be about 145,000 euro! not that if i had that kinda money just if the numbers came up!;)

Well spank id certainly put it to the mortgage or most of it at least. Assuming you're on a variable rate coz otherwise there are penalties involved. Be careful that the bank not lower your repayment amounts tho coz the intention should be to shorten life length of mortgage rather than reduce amount repaid every month. I've heard banks will do this automatically or encourage you to do it so you need to specify that you want to shorten the the life of the mortgage. Remember the longer a mortgage survives the more money the banks make. (tracker mortgages being an exception)[/QUOTE]

I cant put the money off now cos im fixed for the next 2 years and at that point my mortgage would be roughly 175,000 if i was to give them 30 it would reduce it to 145,000. I would most deffinetly like to bring keep the payments the same and reduce the life of the mortgage although i am paying just under 1000 a month give or take a few euro.

I rang my bank and asked them was there not some way to allow people to pay money off a fixed mortgage without incurring penalties seen as we're in unchartered territory and that i was saving money and that that was causing the economy to further contract, so much so that i was told to write a letter to patrick honahen govenor of the central back to encourage people with money to allow them pay off mortgages if they are in a position to do so or pay money off but incentivising it and giving people breaks if they did so, which would get the money thats stuck in bank accounts flowing again.

I got the usual drivel reply though

My bank told me that i could put my money into CREDIT into my mortgage account say 10,000 and that would reduce the interest payments on my mortgage every month by 100 euro.

However i rang up MORTGAGE INTEREST RELIEF people and they told me that i would be better waiting til my mortgage interest relief was up because it would affect my mortgage interest relief, She told me to wait til my interest relief was up and then start paying off lump sums if i wished to do so.

Sorry if the above post was a bit incoherent as im typing as fast cos im out the doorrrrrr............................................................

anto9

Regarding the Apartments ,3 in number that were offered for 15,000 Euro ,down from 27,000 euro ,i have the following experience .I emailed the Auctioneer about the position because they seemed too good to be true .The Auctioneer informed me at that stage they were taking offers above 18,000 euro .Does anybody know what they really sold for .They were near to the Aldi shop in central Waterford i believe .
PS ,i thought it a kind of scam to be offering the Apartments at 15,000 on Daft .ie ,without saying that it was a bidding war .

Hoffmans

looking at daft it seems the daft auctioneers have upped prices around 10%, hold your cash till after the budget, the auctioneers are gamblng on a rush before the expiry of the consessions in last years budget but now it looks like they will be extended
heres where the market is really at anything above is overpriced..
depending on location a.d condition..
2 bed town apartment 20k
2bed townhouse 30k
3 bed semi 40-80k
4bed semi 50-90 k
4 bed detached 100-150k

kuang1

yeah hoff i agree.
those estimates seem in line with the 15 year rental formula.
btw...big meeting held in hospital (ardkeen) this week informing all staff there that plans are afoot to downsize it to a 'county hospital'. if these plans go ahead this will pull a lot of services from the hospital, and with it up to 1000 staff. that's 1000 less people that need to live in waterford, particularly the dunmore road area.
this is definitely not a way that i would like to get a reasonable house at a reasonable price...and lets all hope it doesnt become a reality.
reality right now for me tho is to bide my time til the new year. see what the budget brings.
Renting ain't that bad!

Dan133269

I had to post this up. Too funny. Apartment for sale in Canada square in town.

http://www.daft.ie/searchsale.daft?id=680645

Located on the first floor, with its own front door, this apartment features an open-plan combined kitchen-livingroom. All three bedrooms feature built in storage, and the property has both a bathroom (with bath) and a separate shower room with an electric power shower.

It's OWN FRONT DOOR! Plus a bathroom with a bath and a shower room with a shower!

nicolaed

Dan133269 wrote: »

I had to post this up. Too funny. Apartment for sale in Canada square in town.

http://www.daft.ie/searchsale.daft?id=680645



It's OWN FRONT DOOR! Plus a bathroom with a bath and a shower room with a shower!

and toilet with drainage,windows with glass etc

kuang1

An example (albeit an extreme one) of how estate agents see the general public as ignorant, uneducated sheep.
EAs are the bottom of the barrel bar none.

anto9

Dan133269 wrote: »

I had to post this up. Too funny. Apartment for sale in Canada square in town.

http://www.daft.ie/searchsale.daft?id=680645



It's OWN FRONT DOOR! Plus a bathroom with a bath and a shower room with a shower!

Sadly many Apartments dont have there own front door or bath tub ,so it has to be stated .Maybe it should also be stated that you are liable to have people from the Council waiting list as neighbours in the near future also .;-)

spankmemunkey

I suppose the people who were rushing to buy them would be renting to the council for people on the housing list! ah sure we just have to get on with it and put our shoulder to the wheel, either that or duck and cover!

Dum_Dum

I often thought is strange why that area isn't better regarded than it is. It's near town, newish housing stock, waterside location and near the park.

spankmemunkey

Just looking on Daft there, It has to be said there is real value out there couldnt believe some of the prices, I was watching the news today and they were saying theres a huge increase in mortgages being drawn down, 600,000,000 worth of mortgages.

kuang1

Well spank i might be overly harsh here, but i think its the more gullible of the populous that are rushing now coz of the tax relief that's about to run out.
Im gonna keep an eye on the 'sale agreed' waterford houses on daft and see how many fall through.
Waterford in particular is in a bad way. Prospects for the local economy look really bleak. This week alone aer lingus pulling 3 daily flights out of here come January and the hospital looking like being downsized with up to 1000 jobs taken out of the city.
You put factors like these into the mix for local house prices and there is only one conclusion. They ain't stabilizing for quite a while.
Keep yer powder dry.

spankmemunkey

I know i know That was me being optimistic.

kuang1

march on saturday 12.00pm at ballybricken to try and keep our hospital as is. never attended one of these yokes before but am gonna go to this one. apparently you bring a shirt (that you dont need anymore) and fire it onto a big pile at the end of the march. these then are sent to the dept of health with the slogan of 'taking the shirts of our backs'. like it.
I'll be there.
hope some of you readers that can will be too.

araic88

I was wondering about the houses in Ferrybank, Daft seems to have quite a lot advertised at low enough prices, is that because the area didn't take off as hoped or maybe they're not too well built? Don't know much about the place tbh, is traffic getting to Waterford city bad? I know the bridge is up sometimes, but not that often afaik?

Also wondering about the (many!) new houses on the "Old Tramore Road" are they decent? And the area, I went to view a house nearby a few years just to rent and maybe it was a coincedence/I got a worse impression than reality but it felt a bit rough to me?

kuang1

well in ferrybank a huge shopping centre was built but never opened. dont know much about the quality of the houses over there but i'm fairly sure that supply way exceeds demand which would explain low prices.
old tramore road...not somewhere i'd live but parts of it are ok.

ManFromCheese

kuang1 wrote: »

An example (albeit an extreme one) of how estate agents see the general public as ignorant, uneducated sheep.
EAs are the bottom of the barrel bar none.

your maybe a tad confused between what an Estate Agent, an auctioneer and a chartered surveyor actually are.

having worked in the industry i can tell you dealing with the public was an absolute nightmare.
people often have the misconception that the auctioneer is working for the buyer, but they work for the vendor and take instructions at all times from the vendor, the auctioneer is the middle man in the process.
people say they were gazumped and the likes by auctioneers when usually it was the vendor doing the gazumping, being greedy etc. and the auctioneer was just following instruction.
there were purchasers putting down deposits, putting in false offers with no intention of seeing through a sale, withdrawing offers etc... thats where a lot of the stories came from, "oh i had an offer in on such and such a house and the auctioneer came back to me saying he had a counter offer trying to squeeze more money from me etc etc etc..." when an auctioneer receives an offer on a property he informs the vendor and then every other interested party, if he receives any counter offers he has to take them in good faith eventhough a lot of the time it was just people messing around because they could mess around. i was saying it with years that the whole industry needed to be regulated. it became too easy for people to make offers that werent binding, agree a sale, pull out of it for no reason and receive their full deposit back...if something had been put in place it would have cut out a lot of messing.
its all too easy to blame auctioneers. people love having someone or something to blame when they dont get what they want. if people knew what went on in the industry or had to work for a week in an auctioneers shoes i can guarantee you they would change their attitude.
money was thrown at little upstarts who suddenly thought they were the dogs b*ollox because they had a few pound to spend and by god did they spend it, now these very people blame everyone and anything for their debts and misfortune but heaven forbid theyd actually blame themselves!!

7upfree

ManFromCheese wrote: »

your maybe a tad confused between what an Estate Agent, an auctioneer and a chartered surveyor actually are.

having worked in the industry i can tell you dealing with the public was an absolute nightmare.

Have you ever stopped to think about what it's like for the buyer dealing with the EA?

ManFromCheese wrote: »

people often have the misconception that the auctioneer is working for the buyer, but they work for the vendor and take instructions at all times from the vendor, the auctioneer is the middle man in the process.

There is no misconception - believe me!

ManFromCheese wrote: »

there were purchasers putting down deposits, putting in false offers with no intention of seeing through a sale, withdrawing offers etc... thats where a lot of the stories came from, "oh i had an offer in on such and such a house and the auctioneer came back to me saying he had a counter offer trying to squeeze more money from me etc etc etc..." when an auctioneer receives an offer on a property he informs the vendor and then every other interested party, if he receives any counter offers he has to take them in good faith eventhough a lot of the time it was just people messing around because they could mess around.

My parents moved house in 2008. They rented for around a year and they said it was a nightmare dealing with some auctioneers. Some were really, really good though. They mentioned a girl called Andrea who worked for Barry Murphy and she was really professional and top drawer. Ultra reliable and very honest.

If you want to talk about stories:

They viewed one house coming to Christmas that year. It was on at €220k. Parents were watching the market closely and offered €175k (a lowball offer at the time). Your man wasn't impressed and told them "if this lady doesn't get €200k I'll be telling her to put it on the rental market". They told him to go ahead as they couldn't tell someone what to do with a house that they owned!

The second story concerned a bid. They told an auctioneer to bid €205k for a house. He came back and told them he had bid €210k!

Last story was when they went to view a house and the auctioneer told them he could't make it at the last minute. He said they could proceed with the viewing. When they turned up it turned out there was some dispute between the owner and the banks, with the tenants caught in the middle.

ManFromCheese wrote: »

its all too easy to blame auctioneers. people love having someone or something to blame when they dont get what they want. if people knew what went on in the industry or had to work for a week in an auctioneers shoes i can guarantee you they would change their attitude.

From the examples above you can see it is justified in many instances.

ManFromCheese wrote: »

money was thrown at little upstarts who suddenly thought they were the dogs b*ollox because they had a few pound to spend and by god did they spend it, now these very people blame everyone and anything for their debts and misfortune but heaven forbid theyd actually blame themselves!!

A very poor generalisation there. Yes, some did behave like that and are now paying the price. But in the main the people caught in the negative equity trap were young couples and families just trying to put a home around themselves - and are now trapped in an economic hell.

My parents? They waited twelve months and got a house which was - at the time - over 40% below market value (not a repo I hasten to add - they wouldn't buy one). They estimated that real time information on the Internet saved them over €100k.

For the first time in a long time the ordinary citizen had one over the auctioneers (or whatever you choose to describe them as).

7upfree

kuang1 wrote: »

well in ferrybank a huge shopping centre was built but never opened. dont know much about the quality of the houses over there but i'm fairly sure that supply way exceeds demand which would explain low prices.
old tramore road...not somewhere i'd live but parts of it are ok.

Ferrybank was supposed to have 4,000 homes built there - ergo the shopping centre. It was an attempt to do it right by having the infrastructure in place before the houses and not the other way round.

kuang1

7upfree wrote: »

Ferrybank was supposed to have 4,000 homes built there - ergo the shopping centre. It was an attempt to do it right by having the infrastructure in place before the houses and not the other way round.

yeah fair enough 7up. dont think anyone's disputing that. i was referring to the current status of housing in ferrybank. supply exceeds demand right now is what i was saying.

kuang1

ManFromCheese wrote: »

your maybe a tad confused between what an Estate Agent, an auctioneer and a chartered surveyor actually are.

er...no.

ManFromCheese wrote: »

people often have the misconception that the auctioneer is working for the buyer, but they work for the vendor and take instructions at all times from the vendor, the auctioneer is the middle man in the process.
people say they were gazumped and the likes by auctioneers when usually it was the vendor doing the gazumping, being greedy etc. and the auctioneer was just following instruction.

yes because its not as if EAs work on commission and are interested in a higher selling price for that reason or anything like that. oh no no no.
i for one am under no illusions about which best interests the EA has at heart. you're right, its the seller all the way. my issue with them is how they carry out their work with such a lack of conscience.
a generalisation i know. i'm sure there are some (small few) half decent/honest EAs out there....i just havent met them. so i've concluded that it is in MY best interest to assume that all EAs are out to squeeze as much money out of the buyer as possible.(regardless of whether its their own decision or vendor's instruction)
and i can hear you from here manfromcheese...'BUT THATS THEIR JOB!!!'
yes. so them doing a 'good job' costs me (the potential buyer) a significant amount of money. hence they are 'the enemy' as it were. get it now?!

ManFromCheese wrote: »

its all too easy to blame auctioneers. people love having someone or something to blame when they dont get what they want. if people knew what went on in the industry or had to work for a week in an auctioneers shoes i can guarantee you they would change their attitude.

work for a week in an auctioneers shoes? does that get me 12 virgins waitin for me afertwards?!

ManFromCheese wrote: »

money was thrown at little upstarts who suddenly thought they were the dogs b*ollox because they had a few pound to spend and by god did they spend it, now these very people blame everyone and anything for their debts and misfortune but heaven forbid theyd actually blame themselves!!

like 7up said thats a gross generalisation. for the record i have never owned property. nor has anyone close to me got 'stung' by what happened in the last 10 years hence no emotional investment in anything im saying here.
delighted that you've come out with this manfromcheese tho coz it provokes thought/conversation and always good to get other perspectives.
dont agree with very much of what you've said tho.

7upfree

kuang1 wrote: »

yeah fair enough 7up. dont think anyone's disputing that. i was referring to the current status of housing in ferrybank. supply exceeds demand right now is what i was saying.

Oh yeah! There's a long way to go yet.

kuang1

anyone notice how according to the CSO 'July,August and September saw rises in the irish property market'.
yet the adjustment for asking prices in waterford city in that time was a drop of -9.3% (source daft report on q3 by Padraic Kenna)
http://www.daft.ie/report/Daft-House-Price-Report-Q3-2012.pdf
this makes me think that waterford property in particular is in for a freefall in the next 6 months (regardless of what the budget brings re: MIR)
trying not to be biased about this but this IS NOT THE TIME TO BUY IN WATERFORD!
(job losses to date...flights being pulled from the airport in january...hospital services under threat...IT MAKES NO SENSE TO BUY NOW!)

and dont be fooled about the spin up to now about the MIR relief running out in december. it may be allowed to expire, but if it does it will be replaced by a similar scheme...i know this to be true.

spankmemunkey

By the way where ever you go make sure you go on the tinternet and check the RADON levels of the area you plan to live in, If i hadda known what i know now i would never have bought a house here, I probably would never have moved to Waterford, how they got away with building houses in areas with such high radon levels is beyond me I feel very much ripped off and as for the quality of the building work of new homes?? Radon as you may or may not know causes lung cancer.

kuang1

spankmemunkey wrote: »

By the way where ever you go make sure you go on the tinternet and check the RADON levels of the area you plan to live in, If i hadda known what i know now i would never have bought a house here, I probably would never have moved to Waterford, how they got away with building houses in areas with such high radon levels is beyond me I feel very much ripped off and as for the quality of the building work of new homes?? Radon as you may or may not know causes lung cancer.

yes read your post yesterday spank ta. any good sites for that?

spankmemunkey

Radiological society of Ireland, although i think that site is more to do with X rays and craic like that, Just google Radon tests and theres a radon map on the site that highlights high areas.

New houses shouldnt be too bad as they are suppose to have Radon Barriers, this only reduces the amount not stop it, and some have radon sumps ready to drop in your fan to take gas away from house, but you need to have your house tested for the gas first by the Irish radiological society costs 50 euro and they send you 2 sensors for 3 months and post it back to them.

Never ever ever would have bought a house had i have known, never would have come back here for sure! im very surprised the amount of waterford people who dont know about this or turn a blind eye to it!

spankmemunkey

Sorry I also forgot to say that my house is in a very high radon gas area and we have extra large air vents on our house which make this house absolutely freezing i mean its so bad that my partner is always sick as are my kids ive had to swap the sides of the bed from to the window side cos my partner thinks that the open vent is causing the problem and it is cos its freezing.

But you cant block vents that leads to guess what? radon build up so its either freeze your ass off in your lovely new home that youve paid mad money for or get lung cancer!

http://www.rpii.ie/Your-Environment/Radon-and-your-environment.aspx