Is the Dublin Property Market slowing down ?

alongwaytotipp

Hello,
Am starting to look at investment properties circa €400k in D14 and D16.  The slow demand surprises me a little.  When listening to the media hype you were lead to believe that houses were selling within weeks of gong on the marekt and that they were selling for way over the asking price.  I have found good houses that are on the market with no offers and others selling for close to the asking price.  One auctioneer has told me that banks have used their 20% quota of their loan book for this year where they can offer more than 3x a persons salary.  So people are awaiting for the new year when they can draw down more money.  Is this plausible ?  So maybe the marker is not as mad as the media made make it out to be ?

Cuddlesworth

With the income ratios, there are hard limits to what people can spend. That appears to top out around 400k. Above that, you have less potential purchasers, which means less demand, which means its harder to justify the fear of "being priced out of the market".

Its worth noting too, some houses are just priced way too high. Sometimes they get lucky and sell at inflated values as somebody "has" to have it. If your looking for a while, you can spot them come up. Usually 10-20% over other houses sold in the last year, at nowhere near the final finish of those houses.

zl1whqvjs75cdy

We were hunting in the 320 to 360 bracket in the last few months and it was absolutely brutal. Everything went up to 370 k. We now have more money and are looking in the 370 to 400 k bracket. It seems to be a bit slower but who knows. It's coming up to Christmas now too so people may be less motivated. Expect all out madness in January with new exemption cases in the market.

stargazer 68

I rang 8 agents yesterday to view properties. All gone sale agreed in the last couple of weeks. Why can't they update their listings!!

Nothing new coming to the market in what we are looking for in area or price at the moment so I guess it will kick off in jan?

handlemaster

Dont expect a slow down for two /three years minimum. The demand and supply is way out of kilter at the moment. Un less brexit hits us one Hugh wallop I dont see any drops in prices

Askthe EA

handlemaster wrote: »

Dont expect a slow down for two /three years minimum. The demand and supply is way out of kilter at the moment. Un less brexit hits us one Hugh wallop I dont see any drops in prices

It has slowed way down in Cork....

aloooof

Completely anecdotal, but I have seen a few houses on daft dropping in asking price of late. I do wonder if it's just seasonal, as opposed to a trend tho.

Cuddlesworth

aloooof wrote: »

Completely anecdotal, but I have seen a few houses on daft dropping in asking price of late. I do wonder if it's just seasonal, as opposed to a trend tho.

You would have to wait for the Daft/Myhome reports to come out I guess.

jon1981

aloooof wrote: »

Completely anecdotal, but I have seen a few houses on daft dropping in asking price of late. I do wonder if it's just seasonal, as opposed to a trend tho.

Hard to say if this is a sign of a slowdown when a price drops from a ridiculous price to lower but still equally as ridiculous a price.

wirelessdude01

Cuddlesworth wrote:

Not to humble brag, but I don't earn minimum wage. And if I worked out a choice between a 4 hour commute time or doing some paid overtime or doing odd jobs in the evening, its a nobrainer for me.

aloooof wrote:

Completely anecdotal, but I have seen a few houses on daft dropping in asking price of late. I do wonder if it's just seasonal, as opposed to a trend tho.

Have noticed that on a few properties I'm keeping an eye on in Louth.

yosser hughes

It depends on the price bracket.

Askthe EA

aloooof wrote: »

Completely anecdotal, but I have seen a few houses on daft dropping in asking price of late. I do wonder if it's just seasonal, as opposed to a trend tho.

It's a bit early for the drop off which is usually November but I've certainly been quieter since October.

Askthe EA

aloooof wrote: »

Completely anecdotal, but I have seen a few houses on daft dropping in asking price of late. I do wonder if it's just seasonal, as opposed to a trend tho.

It's a bit early for the drop off which is usually November but I've certainly been quieter since October.

There is a lot of new built property coming on the market in some sections of the Dublin market so an increase in supply could well be having an effect.