Property Market 2019

Mad_maxx

Cuddlesworth wrote: »

Its worth pointing out that towards the end, when sales were cooling off and builders were bailing left and right, some wealthy people were still throwing money at houses. A house behind my parents house went for 1.2 mil in late 2007, the same house 4 doors down is currently looking for 725k, eg 60% of "peak" price. Except when the crash came, he was the only person in the row because nobody else bought them at those crazy prices.

It must have taken a very long time to officially register as sold as when the peak arrived in February 2007, it was almost immediately as if someone hit the trapdoor button, by end of 2007, prices had fallen quite a bit even that did not register until 2008

the butcher

Very depressing looking at all these new estates at extortionate prices with no driveway to park in, little to no garden at the front and three stories becoming more and more common.

Doop

the butcher wrote: »

Very depressing looking at all these new estates at extortionate prices with no driveway to park in, little to no garden at the front and three stories becoming more and more common.

I would agree with you on the price, but as for the rest we really do need to make our peace with higher density. The days of the 3 bed semi with a room/garage to the side and side access are gone... and I would think rightly so. The urban sprawl that was allowed go on in previous generations is reprehensible.

Bluefoam

the butcher wrote: »

Very depressing looking at all these new estates at extortionate prices with no driveway to park in, little to no garden at the front and three stories becoming more and more common.

I don't undertand why 3 stories is a negative? You get larger rooms in a smaller footprint & better heating management. If you want a house with parking, then buy a house with parking. Many people, particularly young people, don't want front gardens due to the amount of work they require to maintain.

The_Conductor

the butcher wrote: »

Very depressing looking at all these new estates at extortionate prices with no driveway to park in, little to no garden at the front and three stories becoming more and more common.

Location is everything though.
High density and no parking- is fine- in an urban area with good transport options. Its less fine- when you go more subburban or rural. Also- 3 stories- shouldn't be anything that we complain about- I can't see what the issue is. I'd love to see 20-25 storey developments- of affordable housing units- in locations with good services, facilities and amenities- who are capable of absorbing these type developments- but especially in Dublin, Cork and Galway city centres. We *need* high density units- in large volumes- where people need to live. We also need to accept that there has to be affordable housing- for public sector employees and other low paid but vital members of society. Its just not fair that a teacher, a nurse or a Garda- should drive 100km+ to or from work- in fact its a form of cruel and unusual punishment to make this the norm. Living in Dublin- should not be the sole remit of financiers and bankers- it should accommodate a good cross section of our workers- and there should be a particular effort, in my opinion, to accommodate those who work at the coal face. I would argue that lesser productive members of our communities- should not have an expectation of housing in the highest demand areas- I'm not suggesting for a moment a hell or to Connaught approach- but we should have affordable houses in our city centres- for critical members of our communities- I would argue the entirety of the social housing allocation be instead commuted into an affordable housing quotient instead- in all city centre developments.

Housing is a mess in general- however, we also have a golden opportunity to use what is often a greenfield approach- to make provisions for the future- instead of copperfastening and mollycoddling the past.

The_Conductor

I see Cairn have had their planning application for 400+ houses in the Newcastle/Lucan SDZ turned down- as unsuitable. I know it was a very early stage refusal- but does anyone know what the grounds for turning down the application were? Personally I think the whole SDZ is a recipe for a disaster- however, it looks like An Bord Pleanála are actually giving it fair and reasonable consideration- in light of the many local objections.

browne_rob5

the butcher wrote: »

Very depressing looking at all these new estates at extortionate prices with no driveway to park in, little to no garden at the front and three stories becoming more and more common.

Front gardens are a waste of time unless you are into gardening. You cant use it for anything as there is no privacy but still have to spend time maintaining it. I never see anyone using them in our estate or any estate for that matter.

Rew

Bluefoam wrote: »

I don't undertand why 3 stories is a negative? You get larger rooms in a smaller footprint & better heating management. If you want a house with parking, then buy a house with parking.

From talking to people that live in them they find the layout less than idea especially with younger children. Sitting room and kitchen on different floors. Parking for visitors is often a big hassle in new style estates

mkdon

browne_rob5 wrote: »

Front gardens are a waste of time unless you are into gardening. You cant use it for anything as there is no privacy but still have to spend time maintaining it. I never see anyone using them in our estate or any estate for that matter.

but a driveway would be nice ... at this prices

Kidkinobe

Stupid estate agent...Went to view a house a week back and slept on it for a bit and then went back for a second look. Advertised at 220k but agent said sellers wanted more than that so I asked him to find out what they wanted for it...He got back to me with , they want 260 for it, it was just put on at 220 to get attention plus the seller thinks it will be worth 260 in a few years time...I suggested to him that if the seller thinks they can get 260 for it in a few years then maybe they should put it on the market in a few years, but trying to sell it right now is wasting everyones time if they are not going to accept current market value which would be about 220 going by recent sales in the same estate. I don't think that estate agent will try sell me a house again.

q85dw7osi4lebg

Kidkinobe wrote: »

Stupid estate agent...Went to view a house a week back and slept on it for a bit and then went back for a second look. Advertised at 220k but agent said sellers wanted more than that so I asked him to find out what they wanted for it...He got back to me with , they want 260 for it, it was just put on at 220 to get attention plus the seller thinks it will be worth 260 in a few years time...I suggested to him that if the seller thinks they can get 260 for it in a few years then maybe they should put it on the market in a few years, but trying to sell it right now is wasting everyones time if they are not going to accept current market value which would be about 220 going by recent sales in the same estate. I don't think that estate agent will try sell me a house again.

Stupid estate agent or stupid seller? Maybe even stupid viewer?:pac:

Kidkinobe

Rex Disgusting Tariff wrote: »

Stupid estate agent or stupid seller? Maybe even stupid viewer?:pac:

Stupid estate agent, he told me that the seller is his brother in law. And going by the chat I had with him..he has told his brother in law he would get him 260k for it while he also told me that 3 offers they have already had were 180k, 190k and 210k...offers have stopped coming in since the last offer of 210k.

Pussyhands

browne_rob5 wrote: »

Front gardens are a waste of time unless you are into gardening. You cant use it for anything as there is no privacy but still have to spend time maintaining it. I never see anyone using them in our estate or any estate for that matter.

Actually there should really be a large lawn area because there needs to be somewhere for the rainwater to soak into. Earth can absorb about 2 inches per hour.

q85dw7osi4lebg

Kidkinobe wrote: »

Stupid estate agent, he told me that the seller is his brother in law. And going by the chat I had with him..he has told his brother in law he would get him 260k for it while he also told me that 3 offers they have already had were 180k, 190k and 210k...offers have stopped coming in since the last offer of 210k.

Wouldn't worry about it so, move on find another, but be aware asking prices are just that. Think of it as "offers over".

Kidkinobe

Rex Disgusting Tariff wrote: »

Wouldn't worry about it so, move on find another, but be aware asking prices are just that. Think of it as "offers over".

Its false advertising...if a car yard had a car up for sale and was offered at 10k in the paper and you went into look at it and they told you they wanted 12k for it...Do you not think you would have wasted two hours of your time...

Bob24

Kidkinobe wrote: »

Its false advertising...if a car yard had a car up for sale and was offered at 10k in the paper and you went into look at it and they told you they wanted 12k for it...Do you not think you would have wasted two hours of your time...

I personally think it’s a bad practice, but in this country it is neither illegal nor against professional ethics of the profession (in many countries it is one, the other or both).

q85dw7osi4lebg

Kidkinobe wrote: »

Its false advertising...if a car yard had a car up for sale and was offered at 10k in the paper and you went into look at it and they told you they wanted 12k for it...Do you not think you would have wasted two hours of your time...

The difference is it's impossible to know what a house is worth. Why take the first offer of the asking when you can get more? The same viewers get annoyed when they bid below the asking and get involved in a so called bidding war.

Kidkinobe

Bob24 wrote: »

I personally think it’s a bad practice, but in this country it is neither illegal nor against professional ethics of the profession (in many countries it is one, the other or both).

Rules and regs are there for misleading advertising ..The ad stated 220...which I assumed was 200 to 240 range...not 260 plus. Its a totally misleading ad when I have been told they want 260 for it. Which is their own choice, but the ad for the property is very misleading.
The main legislation concerning advertisements in Ireland is the Consumer Protection Act, 2007. This Act sets out, among other things, various rules that apply to claims made about goods and services. In particular this Act protects consumers from misleading advertisements and ensures that trade is fair. Under the Act it is an offence for an advertiser/trader to make false claims about goods, services or prices. All types of communications that promote goods or services are covered by the Act. This includes advertisements, a notice in a shop or even a claim made by a sales assistant about a product or service. EU laws also ensure that misleading advertising is forbidden in all Member States. Under SI 134/1988 (European Communities (Misleading Advertising) Regulations, 1988), any person can apply to the High Court for an order prohibiting the publication of misleading advertising.

What is 'Misleading Advertising'?
Misleading advertising means advertising that deceives or is likely to deceive anyone that sees it. Misleading advertising may affect consumers’ choices regarding what they buy. It’s worth bearing in mind, that it may be an offence for a trader to advertise good or services if it is likely to mislead and therefore cause loss, damage or injury to the public.

klaaaz

browne_rob5 wrote: »

Front gardens are a waste of time unless you are into gardening. You cant use it for anything as there is no privacy but still have to spend time maintaining it. I never see anyone using them in our estate or any estate for that matter.

Some people use them for sitting out in the sun as their back garden is north facing

Bob24

Kidkinobe wrote: »

Rules and regs are there for misleading advertising ..The ad stated 220...which I assumed was 200 to 240 range...not 260 plus. Its a totally misleading ad when I have been told they want 260 for it. Which is their own choice, but the ad for the property is very misleading.
The main legislation concerning advertisements in Ireland is the Consumer Protection Act, 2007. This Act sets out, among other things, various rules that apply to claims made about goods and services. In particular this Act protects consumers from misleading advertisements and ensures that trade is fair. Under the Act it is an offence for an advertiser/trader to make false claims about goods, services or prices. All types of communications that promote goods or services are covered by the Act. This includes advertisements, a notice in a shop or even a claim made by a sales assistant about a product or service. EU laws also ensure that misleading advertising is forbidden in all Member States. Under SI 134/1988 (European Communities (Misleading Advertising) Regulations, 1988), any person can apply to the High Court for an order prohibiting the publication of misleading advertising.

What is 'Misleading Advertising'?
Misleading advertising means advertising that deceives or is likely to deceive anyone that sees it. Misleading advertising may affect consumers’ choices regarding what they buy. It’s worth bearing in mind, that it may be an offence for a trader to advertise good or services if it is likely to mislead and therefore cause loss, damage or injury to the public.

If it was considered false advertising as part of the act, it wouldn’t be standard practice for pretty much every single estate agent in this country.

Some agents can be dodgy, but the whole profession breaking the law on a daily basis and nothing happening about it (either reaction from the public or from the government or both) seems fairly unlikely.

cruizer101

Kidkinobe wrote: »

Its false advertising...if a car yard had a car up for sale and was offered at 10k in the paper and you went into look at it and they told you they wanted 12k for it...Do you not think you would have wasted two hours of your time...

Similar thing happens in cars as in houses.
When houses or cars are sold by a developer/garage prices are set and more or less non-negotiable (little haggle room in cars).
When houses/cars are sold by a individual they put it up at a price but that price isn't set in stone.
Why would someone sell a house for less than they can get.

Bluefoam

klaaaz wrote: »

Some people use them for sitting out in the sun as their back garden is north facing

Thats nice... but rather than purchasing the additional space at the front of my property, I'd probably use the money to buy a south facing property... then I'd have sun & privacy...If I couldn't afford the south facing aspect, I doubt I could afford a north facing with a decent front garden either.

tobsey

Consumer protection act in relation to the sale of a second hand house. Jesus wept. I feel bad for estate agents and sellers.

Kidkinobe

cruizer101 wrote: »

Similar thing happens in cars as in houses.
When houses or cars are sold by a developer/garage prices are set and more or less non-negotiable (little haggle room in cars).
When houses/cars are sold by a individual they put it up at a price but that price isn't set in stone.
Why would someone sell a house for less than they can get.

They are welcome to sell it what ever price they want...but advertising it at 100k and when people showing up to look are told they want 150k for it is what the discussion is about..If you are going to advertise at 100k you will get people with 100 k to spend, people with 150k will be looking at 150 k houses.

q85dw7osi4lebg

It works both ways folks. Agents advertise properties for 300k and people offer 260k.

Can't have your cake and eat it.

Kidkinobe

Rex Disgusting Tariff wrote: »

It works both ways folks. Agents advertise properties for 300k and people offer 260k.

Can't have your cake and eat it.

its fair enough to advertise at 300k and get offers at 250, you can just say no thanks, we will wait for the advertised price but advertising at 250 and then showing up and the agent saying, 'only joking, we want 300'..Sure you can say no thanks, but you have just wasted your time looking at a house that you were led to believe by the ad that it was in your price region.

Bob24

Rex Disgusting Tariff wrote: »

It works both ways folks. Agents advertise properties for 300k and people offer 260k.

Can't have your cake and eat it.

Doesn’t have to be that way though. In many countries the advertised price is the high expectation of the seller and offering it means your offer will be accepted as long as you are a genuine buyer. And on the other hand since that price is usually a little inflated compared to market rate it is acceptable for someone to offer less, with obviously no obligation for the seller to consider/accept those offers.

I prefer that system which I have experienced both as a seller and a buyer as it makes the sale a lot less hectic and I believe it reduces the score for messers on both sides of the fence.

I also think a positive e side effect is that it tends to standardise and stabilise the property market.

q85dw7osi4lebg

Bob24 wrote: »

Doesn’t have to be that way though. In many countries the advertised price is the high expectation of the seller and offering it means your offer will be accepted as long as you are a genuine buyer. And on the other hand since that price is usually a little inflated compared to market rate it is acceptable for someone to offer less, with obviously no obligation for the seller to consider/accept those offers.

I prefer that system which I have experienced both as a seller and a buyer as it makes the sale a lot less hectic and I believe it reduces the score for messers on both sides of the fence; thus less time wasting for everyone.

I also think a positive e side effect is that it tends to standardise and stabilise the property market.

But that is the case with most sellers, it's just a select few agents have different mechanisms to achieve the best sales price. It's literally just business. At the end of the day, the property will always sell for what it's worth.

Bluefoam

The market decides the value of a house, not the seller. If no one offers them what they want then the house doesn't sell, or the seller reconsiders. It might be stressful for buyers (some), but ultimately if someone makes an offer they should be comfortable that they are offering what they consider a good price.

If you are outbid, it just means someone is willing to pay more for the property than you are...

If you can't afford market prices, you need to consider your criteria against budget. People are still buying houses, therefore they consider that there is value in the market and can afford the prices.

Bob24

Rex Disgusting Tariff wrote: »

But that is the case with most sellers, it's just a select few agents have different mechanisms to achieve the best sales price. It's literally just business. At the end of the day, the property will always sell for what it's worth.

I wouldn’t say most sellers. It really depends on the type of property,
location, and selling strategy.

When I was looking in a high demand area of Dublin almost everything was purposely priced significantly below wha the seller was actually looking for.