2015 - how's your property search going?

Jeremyr

So much propaganda going around in regard to property prices in Dublin

Me personally i have found the prices are leveling off and dropping in the areas i am looking at

Asking prices are very high imo but that means nothing, estate agents are getting desperate.


What about yourself??


Do you believe the media hype?

Which areas are you looking to buy in ??

mr_seer

Jeremyr wrote: »

So much propaganda going around in regard to property prices in Dublin

Me personally i have found the prices are leveling off and dropping in the areas i am looking at

Asking prices are very high imo but that means nothing, estate agents are getting desperate.


What about yourself??


Do you believe the media hype?

Which areas are you looking to buy in ??

It's not.... The market has definitely cooled noticeably. I sold in October 2014 and I'm sitting pretty on a 20% plus deposit and a mortgage approval .5x LTI waiting for the esteemed Patrick Honohan's next move :cool:

I expect that the macro prudential rules will probably be phased in with 85% LTV initially, before stepping down to 80%. Even with this likely amendment, this will take a lot of competition from the market as anecdotally it appears that cash buyers have disappeared and a lot of purchasers are now leveraged up to 90-92%.

tigershould

All anecdotal, but I think I've noticed more houses coming onto the market since the start of the year, more new development show houses on view, some 5-10% reductions (and a few strange rises).

I'd say the market is in transition.

I'm ready to buy due to changing family needs but the quality of houses just aren't there and some of the prices are still more than what I'm willing to pay.

Holsten

Not very well at the minute, prices are still just too high for what I'm looking for.

Anywhere in Dublin is where I'm looking and I don't see any drops happening soon.

TheDriver

I'm in real capital and stock is poor, prices level and things sale agreed before Christmas are now back on sale

ElizKenny

This time of year is always the best time to buy - if you can find the house you are looking for at this time.
Its always very slow.
Less people selling, less people buying, so if you can find something you want then less competition for it so lower price.
Come March/April the frenzy always starts up again.
I cant see prices rising as fast as they have been in the last couple of years, but i definitely dont see them not rising agian this year.
Hopefully the year on year will be down to 5% or so.

handlemaster

the devalued euro will soon come into play also .

ElizKenny

handlemaster wrote: »

the devalued euro will soon come into play also .

I already see that happening in my job (nothing to do with property). Investors from outside the Eurozone have more money to spend in the Eurozone.

johnp001

TheDriver wrote: »

I'm in real capital and stock is poor, prices level and things sale agreed before Christmas are now back on sale

Seeing re-advertisement of properties sale agreed last year in the Midlands too. Noticed several that went back up for sale in early January after being sale agreed last year. They have mostly been re-advertised at a lower price than previously also.

Sala

Ideally looking at D6w d14 areas. Very low and shoddy stock and very high asking prices.
Not much of a surge on myhome, in hoping a lot more decent properties come on this year

Edit- also noticed some stuff sale agreed last year is back

Jeremyr

In the areas i'm looking i also noticed that the majority went up around Feb-March last year, then they rose their price, then dropped the price and are now still for sale



Looks like alot of people believed the hype and put their property up for alot more than what they would realistically get for it



Any idea on when the new CB mortgage lending rules will come into play ?

gaius c

It's a bit early to say and god knows what wheeze baldy will come up with this time to prop up prices but there's a definite change in mood. The buyer panic of last year is well gone so we'll probably have a bit of a phoney war period until folks see for sure what way the wind is going.

helimachoptor

Been looking around seriously for only a 3/4 months.

Went to see a few oct/nov last year in the +500K bracket, all still on sale 1 had had a slight reduction in asking price down about 4% but EA says they wont accept lower than asking.

We are lucky, we have a lot of savings but also dont need to buy so are happy to wait.


Ideal scenario at this point for us would be to buy in Sept or so, additional savings will likely put us into a better LTV rate and hopefully by then the market finds out what its doing

Jeremyr

Anyone who pays over 400k for a 3 bed semi in South Dublin needs their head examined

Stench Blossoms

I've just started looking myself. Ideally I'd like to buy this time next year but just getting a feel for the market now.

I'm looking for a fixer upper.

MarkAnthony

Found the dream house, vendors solicitor has gone strangely quiet; will hear more over the next few days.

jay0109

Sala wrote: »

Ideally looking at D6w d14 areas. Very low and shoddy stock and very high asking prices.
Not much of a surge on myhome, in hoping a lot more decent properties come on this year

Will probably bump into you!

Not much stock out there at all. Was going to go view a few gaffs this weekend just gone, but the bed was too warm ...that shows my feelings towards the current state of prices/stock!

cpoh1

TheDriver wrote: »

I'm in real capital and stock is poor, prices level and things sale agreed before Christmas are now back on sale

Where are you looking TheDriver? Have family looking to buy and there is very little stock in well sought after areas and demand is still very high.

Sala

jay0109 wrote: »

Will probably bump into you!

Not much stock out there at all. Was going to go view a few gaffs this weekend just gone, but the bed was too warm ...that shows my feelings towards the current state of prices/stock!

I can't get the motivation up to see things that (a) priced 10-20% above what I can comfortably afford or (2) affordable for me, but s**t!! There's very little out there.

sparkthatbled

I'm just getting into it now, got a couple of questions maybe someone can answer:

Roughly what percentage of asking price is a good first offer? Are there downward trends I can use to support low offers?

I've also been watching property shows like Location Location Location and wondering if it's an acceptable move here to ask that a place be taken off the market when making an offer?

From what I've seen I'm in a decent position to make a cheeky offer because I'm not in a chain and can move quickly to close a deal.

Cheers in advance for any help!

ukoda

got a letter from DNG through the door this morning saying my house was in high demand and would i consider selling!

D_D

ukoda wrote: »

got a letter from DNG through the door this morning saying my house was in high demand and would i consider selling!

Got the same myself. Madness.

TheDriver

cpoh1 wrote: »

Where are you looking TheDriver? Have family looking to buy and there is very little stock in well sought after areas and demand is still very high.

In towns around Cork, not the city or suburbs.

Kaizersoze81

Not great in SCD. 3 bed semi-d houses from 350-400k all seem to have offers over the asking price, in one case 30k over asking.

jay0109

sparkthatbled wrote: »

I'm just getting into it now, got a couple of questions maybe someone can answer:

Roughly what percentage of asking price is a good first offer? Are there downward trends I can use to support low offers?

I've also been watching property shows like Location Location Location and wondering if it's an acceptable move here to ask that a place be taken off the market when making an offer?

From what I've seen I'm in a decent position to make a cheeky offer because I'm not in a chain and can move quickly to close a deal.

Cheers in advance for any help!

Where are you looking? I was going to try a cheeky bid after xmas until I read recently about the big #'s at viewings in the South Dublin area. Can't see it working now and may just make EA's think I'm a messer and could work against me on a house I really want to secure in future

Jeremyr

jay0109 wrote: »

Where are you looking? I was going to try a cheeky bid after xmas until I read recently about the big #'s at viewings in the South Dublin area. Can't see it working now and may just make EA's think I'm a messer and could work against me on a house I really want to secure in future

Looking around West Dublin


Dublin 15 or Lucan really


A friend of mine went to view a 3 bed end of terrace house last month in D15 it was going for 210k ( was up for sale for 8 months )



He originally put an offer in starting at 155k ended up getting the house for 165k




Now me and my friend know nothing about the market in South Dublin , but it goes to show that in some areas it's all hype going around and people are still willing to sell


The ball is in the buyers court in our situation ( Please God )

MarkAnthony

I'm not 100% sure but I don't think West Dublin has seen the competition that the rest of Dublin has. My brother-in-law has just gone sale agreed in D15 been looking for a while.

Best of luck OP, I reckon you can afford to give slightly lower bids in D15 direction there is plenty of choice. I would be careful of apartments out that direction though. There's a lot of stuff miles from anywhere like Ongar.

dubrov

ukoda wrote:

got a letter from DNG through the door this morning saying my house was in high demand and would i consider selling!

Is this not standard estate agent junk mail?

They spam you hoping if you do sell they'll get the business.

Property will always be in demand if the price is right

sparkthatbled

jay0109 wrote: »

Where are you looking? I was going to try a cheeky bid after xmas until I read recently about the big #'s at viewings in the South Dublin area. Can't see it working now and may just make EA's think I'm a messer and could work against me on a house I really want to secure in future

Looking all around dublin, but I'm not looking at the most desirable of places, to be honest, as it's only a starter and has to be cheap. Most of the places on my shortlist have been up at least 6-12 months. Some have had price drops in that time, most have stayed the same.

Millem

I found that the majority of asking prices in our areas in SCD seemed to be low on purpose. The bids on All the houses we viewed were over the asking price. One "granny house" in d6w (fortfield rd) went for €60k over we naively thought we might get it for the asking price! Loads and loads of cash buyers. We are sale agreed on a house that only recently came back onto the market. We paid over the asking price I am hoping and praying all goes well and it goes through

Bob24

Anyone looking at appartments?

I've been looking at 2-beds anywhere from the docklands to Dun Laghaire. Asking prices seem to be on the rise compared to a year ago, but it looks like to me their is quite a bit of stock and they are not going super quickly - and regularly below asking price. I am thinking this type of property is mostly attracting investors and there are now less of them.

Wondering if it is a good time to pull the trigger while there are quite many options to choose from (at some point there was almost), or if things might get better.