Property Market 2018

Sminkypinky

alwald wrote: »

I just read in the newspapers that 2 new housing estates are launching this week end in Dublin. Are there still queues of people for these launches? are apartments/houses in county Dublin, both second hand and new, still selling for way over the asking price due to bidding war/lack of supply? or its not as bad as it was in the last few years due to high property prices and strict mortgage rules by the ECB?

I'd be interested to know too.
One hopes that the madness won't return due to the control measures in place and the current wage stagnation.
But if the construction picks up, will the wages rocket, and also the house prices as people can afford bigger mortgages?

adriaaaan

alwald wrote: »

I just read in the newspapers that 2 new housing estates are launching this week end in Dublin. Are there still queues of people for these launches? are apartments/houses in county Dublin, both second hand and new, still selling for way over the asking price due to bidding war/lack of supply? or its not as bad as it was in the last few years due to high property prices and strict mortgage rules by the ECB?

Depends where you are looking. A scheme launched in clonsilla a few months ago with people queueing over night but these had a very good price point for entry level three beds. Scheme in Rathfarnham, white pines launched recently with a higher price point I think 415 for 3 beds. No queues and a few houses still available after 2 day launch. Same in Celbridge at a launch unattended recently. It's hard to know
The launch in Dublin you are talking about I am guessing was St Pancras in Terenure Harold's cross. Great houses and location. Price of 800 k for a 4 bed. If you can afford that you propably wouldn't be queueing in a tent!
It's not quiet a feeding frenzy. If you have AIP and want a new build and have got your location, you shouldn't have trouble buying a decent 3 or four bed starter around Dublin or Kildare right now. Happy to hear other experiences

Grassey

adriaaaan wrote: »

Scheme in Rathfarnham, white pines launched recently with a higher price point I think 415 for 3 beds. No queues and a few houses still available after 2 day launch.

Just down the road phase 2 of Dodderbrook launched a few days prior, people camped out 4 days in advance, were told to put names on a list and come back at launch to stop clogging up the site / residents. 19 houses released, 18 gone within minutes on the Friday, the last was for a 4bed detatched for 500k+ (no idea if it's since gone)

_brendand_

alwald wrote: »

I just read in the newspapers that 2 new housing estates are launching this week end in Dublin. Are there still queues of people for these launches? are apartments/houses in county Dublin, both second hand and new, still selling for way over the asking price due to bidding war/lack of supply? or its not as bad as it was in the last few years due to high property prices and strict mortgage rules by the ECB?

Our recent experience is that it very much depends on price point, area and condition of the property. We have bid on a number of properties in the past few months and have always been defeated in the bidding war, except on one occasion where the vendor accepted our offer of 5k less than the asking price. In the end we decided the property wasn't for us, which might tell you something about why they accepted our offer (because they weren't getting any higher ones).

In the end the only success we had was with new builds. We attended a launch on Saturday in Newcastle (Co. Dublin) and were 21st in the queue for 18 properties. In the end due to mismatch between price points and other buyers funds, we ended up being able to secure a property. There are signs definitely that demand is becoming less ludicrous, but it really depends.

Personally I doubt a collapse will happen anytime soon but prices will start to level out.

Bluefoam

Grassey wrote: »

Just down the road phase 2 of Dodderbrook launched a few days prior, people camped out 4 days in advance, were told to put names on a list and come back at launch to stop clogging up the site / residents. 19 houses released, 18 gone within minutes on the Friday, the last was for a 4bed detatched for 500k+ (no idea if it's since gone)

Dodderbrook looks interesting...From what I've heard they cost very little to heat and the houses are made well. Anyone living there have any opinions on the development?

Creamy Goodness

another one in north wicklow, email sent out about launch event on friday at 15:45 for 15 houses, within 8 minutes 7 people were queuing outside the estate agent. within 25 minutes there was 20 people queuing. next phase due to be a show house launch, which I bet will be a queue outside affair.

Synode

Bluefoam wrote: »

Dodderbrook looks interesting...From what I've heard they cost very little to heat and the houses are made well. Anyone living there have any opinions on the development?

Is that the one on the Oldcourt Road? Those GAA pitches use to flood quite a lot. Personally I wouldn't go near them

_brendand_

Bluefoam wrote: »

Dodderbrook looks interesting...From what I've heard they cost very little to heat and the houses are made well. Anyone living there have any opinions on the development?

The transport situation looks pretty horrendous there, unless you're working off the M50 I suppose.

Grassey

Nearest bus stop is about 10-5 mins walk either direction, car traffic a pain at the R113 junctions (but thats the same for any developments up around there) on a bike you'll breeze past everyone. Even working off the M50, the M50 is the biggest pain for commuting.

Our electric cost for the year was €1300, and the average national cost is apparently €1k so well below the quoted running costs. heating seems to be cheap enough for 3 of us and full tank of hot water 24/7, heavier cost in the colder months understandably. Though some people have had issues and spent the same amount in 4 months of bills.

The new phase will be funneling an additional 300 odd cars down to a single entry/exit so will be ****e until that ringroad gets built (if ever)

M.Cribben

Planning permission granted for €1bn town centre in Dublin

https://www.independent.ie/irish-news/planning-permission-granted-for-1bn-town-centre-in-dublin-36964833.html

I suppose supply is supply but don't understand this part:

The project will also include 1,269 build-to-rent apartments.

Sounds like some long term REIT type setup. Will any of the new residential units actually go on sale?

Bob24

M.Cribben wrote: »

Sounds like some long term REIT type setup. Will any of the new residential units actually go on sale?

Sounds like what you describe indeed. As you said supply is always good to take, but it this type of setup keeps growing it would be a cause for worry IMO.

Mickiemcfist

M.Cribben wrote: »

https://www.independent.ie/irish-news/planning-permission-granted-for-1bn-town-centre-in-dublin-36964833.html

I suppose supply is supply but don't understand this part:



Sounds like some long term REIT type setup. Will any of the new residential units actually go on sale?

Nope, individual units won't be up for sale. It's going to make a weird place, an entire town of tenants, not sure how good an idea that is.

hottipper

Deutsche Bank's collapse
https://www.marketwatch.com/story/deutsche-bank-stock-is-looking-cheap-after-bad-news-but-tread-carefully-say-analysts-2018-06-01

Italy bailout soon
https://www.reuters.com/article/us-italy-politics-markets-ecb-analysis/investors-ask-if-ecb-has-will-and-means-to-save-euro-from-italian-turmoil-idUSKCN1IU2BS

Smart money exiting the stock exchange
https://www.zerohedge.com/news/2018-03-09/dumb-money-helping-smart-money-exit-stock-market

Central bank ass covering

I give it one year then boom!

UsBus

hottipper wrote: »

Deutsche Bank's collapse
https://www.marketwatch.com/story/deutsche-bank-stock-is-looking-cheap-after-bad-news-but-tread-carefully-say-analysts-2018-06-01

Italy bailout soon
https://www.reuters.com/article/us-italy-politics-markets-ecb-analysis/investors-ask-if-ecb-has-will-and-means-to-save-euro-from-italian-turmoil-idUSKCN1IU2BS

Smart money exiting the stock exchange
https://www.zerohedge.com/news/2018-03-09/dumb-money-helping-smart-money-exit-stock-market

Central bank ass covering

I give it one year then boom!

Just reading about all the share buyback activity in the stock market. It's criminal what is going on there right now propping up share prices. When something triggers a sell off here it will be absolute carnage in the markets.

The debt Deutsche bank is carrying is mind boggling. It's leading to a perfect storm in the next few months. The practice of quantitative easing will inevitably blow up. No telling where it will end this time around..

Lumen

UsBus wrote: »

Just reading about all the share buyback activity in the stock market. It's criminal what is going on there right now propping up share prices.

Off-topic, but companies buy back shares in order that they can give them out to management without spooking investors by having to issue new share capital.

How do you think Sheryl Sandberg managed to get her hands on 2bn of Facebook stock?

Her amazing contribution to Facebook is....adverts.

Ker-ching!

ELM327

kippy wrote: »

This free market nonsense sickens me. What exactly do you mean by a free market?

When a man loves a woman very much...

hottipper

hottipper wrote: »

....

Smart money exiting the stock exchange
https://www.zerohedge.com/news/2018-03-09/dumb-money-helping-smart-money-exit-stock-market
...

I give it one year then boom!

The insinuation that rednecks are propping up the s&p500 etc as the institutional investors leave is ludicrous.

There might be an imminent crash but it's been predicted by various & many sources for 4/5 years now.

Wanderer78

hottipper wrote:

I give it one year then boom!

UsBus wrote:

Just reading about all the share buyback activity in the stock market. It's criminal what is going on there right now propping up share prices. When something triggers a sell off here it will be absolute carnage in the markets.

UsBus wrote:

The debt Deutsche bank is carrying is mind boggling. It's leading to a perfect storm in the next few months. The practice of quantitative easing will inevitably blow up. No telling where it will end this time around..

Share buy backs have been going on for some time now, many stocks are over priced, will this bubble burst, what will happen if it does, and how will this affect us?

People such as yanis varoufakis are right, we cannot keep 'extending and pretending' these critical issues within the euro zone, it has the potential to end very badly for us all.

Jim Richards believes the only institution that's capable of bailing out the central banks is the IMF, maybe he's right, but is that a good thing?

adriaaaan

I wouldn't be linking to zerohedge.com with predictions on global meltdown . Those guys are loons who have called the end of the share bull market for about 8 years and I assume have lost a shed load of cash betting against a rising market and praying for an end to QE. Also do a good line in lobby bin conspiracy theorising, islamoohobia, and homeopathy!

On a serious note, how would a worldwide crash effect Ireland and the property market?
Our economy is pharma, tech, agriculture and tourism. Versus before where it was construction, construction, construction and agricultural.
To me a warning sign on Ireland's tech dependency would be teens not using Facebook anymore, confidence dwindling in the power of online ads or trump calling money home.

If the market value of a company halves they can't access funding as easily.... expansions & other projects get shelved, some plants/products may get sold that could well impact Irish operations.

Pussyhands

Augeo wrote: »

The insinuation that rednecks are propping up the s&p500 etc as the institutional investors leave is ludicrous.

There might be an imminent crash but it's been predicted by various & many sources for 4/5 years now.

I'm worried when all the boardsie "experts" are predicting a crash.

If everyone knows a crash is coming not many would suffer but the opposite happens.

Eric Cartman

Pussyhands wrote: »

I'm worried when all the boardsie "experts" are predicting a crash.

If everyone knows a crash is coming not many would suffer but the opposite happens.

the problem with predicting market crashes is that anybody with the in depth knowledge and credibility to explain when / why its going to happen usually works for a finance company that benefits from moving in secret because they know its happening, tries to keep business going by denying its happening and stands the most to lose if that person tells the public when its going to happen.

Villa05

Pussyhands wrote:

I'm worried when all the boardsie "experts" are predicting a crash.

Pussyhands wrote:

If everyone knows a crash is coming not many would suffer but the opposite happens.

It's not so much predicting a crash. The crash will happen, nobody really knows when.

The issue we have is that current policy goes towards maximising the damage when the crash does happen

kippy

Villa05 wrote: »

It's not so much predicting a crash. The crash will happen, nobody really knows when.

The issue we have is that current policy goes towards maximising the damage when the crash does happen

Current policy? In what area and how?

Pussyhands

Pussyhands wrote: »

I'm worried when all the boardsie "experts" are predicting a crash...........

Well if you are genuinely fearful all you can do is where possible / if applicable
- move all your pension etc out of stocks
- don't get any loans
- try and gather a few quid together for a rainy day

MayoSalmon

kippy wrote: »

This free market nonsense sickens me. What exactly do you mean by a free market?

Basically think of USSR, Cuba, North Korea, Venezuela...now think of the exact opposite

ELM327

MayoSalmon wrote: »

Basically think of USSR, Cuba, North Korea, Venezuela...now think of the exact opposite

Careful talking too much sense about free market.
Some "free radicals" in here will tell you it doesn't exist.

kippy

MayoSalmon wrote: »

Basically think of USSR, Cuba, North Korea, Venezuela...now think of the exact opposite

And where in the world is there a free market?

MayoSalmon

kippy wrote: »

And where in the world is there a free market?

Free as in 100% free nowhere however an "open/free" market exists in many countries including Ireland of course, in which the laws and forces of supply and demand are free from limited intervention by government or price-setting monopolies etc

draiochtanois

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