Property Market 2019

Zenify

ifElseThen wrote: »

We've had 2 Polish guy do this in our place. One, on 85k was paying 1600 for a 3 bed house in Monastery in Clondalkin. He moved back to Warsaw, still works for us. Has a 3 bed apartment in centre of Warsaw for 700. Well worth their while for any of the lads/lasses in tech to move back but continue to be paid through Irish companies.

Great for the housing crises. Terrible for the economy. Is this a good or a bad thing overall?

Mickiemcfist

Zenify wrote: »

Great for the housing crises. Terrible for the economy. Is this a good or a bad thing overall?

Really bad overall IMO. 85k per year that would have been spent in Ireland no longer is.

optogirl

definitely seeing more houses in D7 in the 250k price range whereas this time last year there was nothing really below 270 that wasn't in need of a lot of work

tastyt

Friend of mine just purchased for 45k under asking price in Dublin at 440k, while also selling his current property for 10k under his asking price.

Both 3 beds in Dublin 15. I understand it's only one example but very interesting to see such a drop

Bluefoam

tastyt wrote: »

Friend of mine just purchased for 45k under asking price in Dublin at 440k, while also selling his current property for 10k under his asking price.

Both 3 beds in Dublin 15. I understand it's only one example but very interesting to see such a drop

A three bed in D15 for nearly €500k? I want to see that house, must be a palace.

SozBbz

Bluefoam wrote: »

A three bed in D15 for nearly €500k? I want to see that house, must be a palace.

You do know Castleknock is D15?

beauf

tastyt wrote: »

Friend of mine just purchased for 45k under asking price in Dublin at 440k, while also selling his current property for 10k under his asking price.

Both 3 beds in Dublin 15. I understand it's only one example but very interesting to see such a drop

Its due to increased supply, and the lending rules.

Having the effect than any sane person said they would have.

All the other stuff the Govt have done is a side show, and probably made it worse.

billymitchell

tastyt wrote: »

Friend of mine just purchased for 45k under asking price in Dublin at 440k, while also selling his current property for 10k under his asking price.

Both 3 beds in Dublin 15. I understand it's only one example but very interesting to see such a drop

Lots of new builds(apartments and houses) going up in D15 the last few years, so the 2nd hand market is cooling off a little.

Know somebody who was trying to sell an apartment in D15 for 12 months, ended up having to drop €40k off the asking price just to get a sale through.

The problem he had was that just as he was selling, a new apartment complex came on stream a few hundred yards down the road, so the asking prices for 2nd apartments began to cool off. What he was asking was very much in line with the market at the beginning.

Now that all those new apartments and houses are sold, be curious to see what happens the 2nd hand market again in the area.

beauf

Still a few under construction here and there.

It comes down to whats your limit.
modern, energy efficient, smaller garden
older, established area, needs work, not energy efficient, bigger garden
school catchments,traffic, train and bus links, near to road links.
Energy rating take with a pinch of salt, spin a dice etc.

Take your pick.

Fan of Netflix

If I had 440k for a house I wouldn't be spending it in D15. No offense to D15 folk but its a fair whack.

beauf

Well there is a lot of choice at that price point becomes all about what you want from the location.

https://www.daft.ie/dublin/houses-for-sale/clonsilla,dublin-city-centre,dublin-commuter-towns,north-co-dublin,north-dublin-city,south-co-dublin,south-dublin-city,west-co-dublin/?s%5Bmnp%5D=425000&s%5Bmxp%5D=450000&s%5Bmxb%5D=3&s%5Bmxbt%5D=3&s%5Bphotos%5D=1&s%5Badvanced%5D=1&searchSource=sale

DingDongDitch

Fan of Netflix wrote: »

If I had 440k for a house I wouldn't be spending it in D15. No offense to D15 folk but its a fair whack.

It's a huge area to just write off at a price point like like that.
There is currently a house for sale in Dublin 15 for €2.5 million and plenty in the €1 million+ bracket.
It's an area with great public transport links - train stations at clonsilla, coolmine, castleknock, the M50, 20 mins to airport, several Dublin bus routes.
Some of the best public and private secondary schools in the country.
World class local amenities that people from all over the country/world travel to for leisure, events and concerts (National Aquatic Centre, National Sports Campus, Phoenix Park, etc).
Connolly Hospital.
Blanchardstown centre and all it’s surrounding facilities (cinema, restaurants, shopping, library, pubs, gyms, etc)
Loads of employment opportunities with all the business and industrial parks, Blanchardstown centre, etc.
I know it sounds like I’m a salesman or something for the area, but I’m just stating the facts you may not be aware of regarding the area and to make you see the reason houses and apartments in parts of Dublin 15 sell for 440k+.
Just out of curiousity, what area would you consider 440k good value for and why?

Cryptopagan

optogirl wrote: »

definitely seeing more houses in D7 in the 250k price range whereas this time last year there was nothing really below 270 that wasn't in need of a lot of work

Really? Don’t see much for that sort of price on daft.

beauf

DingDongDitch wrote: »

...
Just out of curiousity, what area would you consider 440k good value for and why?

If you don't want to be in Dublin, or D15, probably anywhere else. Depends entirely what your needs are.

sweetie

Fan of Netflix wrote:

If I had 440k for a house I wouldn't be spending it in D15. No offense to D15 folk but its a fair whack.

Where would you spend 440k in Dublin - Inside the mifty?

SozBbz

sweetie wrote: »

Where would you spend 440k in Dublin - Inside the mifty?

So i put the following into MyHome.ie
-€450k and under
-House
-Dublin.

1918 results came back and at first glance a good few are not inside the M50 (Swords, Balbriggan, Ballycullen etc).

Within whats left, theres a lot of ex council stock as well as properties requiring significant renovation.

I think some posters here really don't appreciate what you actually get for that kind of money in Dublin, even the less salubrious parts.

My pick would be a red brick terrace in Drumcondra/Fairview etc of which there are a few in that price bracket, but they're 2 beds going by the first few pages.

I'd probably favour older areas closer to the city, but I accept that parts of D15 command a decent price, even if its not to my taste.

Sheeps

SozBbz wrote: »

So i put the following into MyHome.ie
-€450k and under
-House
-Dublin.

1918 results came back and at first glance a good few are not inside the M50 (Swords, Balbriggan, Ballycullen etc).

Within whats left, theres a lot of ex council stock as well as properties requiring significant renovation.

I think some posters here really don't appreciate what you actually get for that kind of money in Dublin, even the less salubrious parts.

My pick would be a red brick terrace in Drumcondra/Fairview etc of which there are a few in that price bracket, but they're 2 beds going by the first few pages.

I'd probably favour older areas closer to the city, but I accept that parts of D15 command a decent price, even if its not to my taste.

Have seen a few red brick terraces (100 sqm in Drumcondra) for between 380 and 350k. In need of renovation, but you drop 100k on them and you've got yourself an an amazing house in an amazing location.

Trying to buy under 350k and the stock is appalling.

beauf

Ring of Kerry, or maybe Monaco is an amazing location.

Dublin City centre or a suburb might be convenient but amazing?

Fan of Netflix

beauf wrote: »

Ring of Kerry, or maybe Monaco is an amazing location.

Dublin City centre or a suburb might be convenient but amazing?

Yeah laughable stuff. It's a filthy kip and a rip off. Imagine what 500k would get you elsewhere.

Eric Cartman

beauf wrote: »

Well there is a lot of choice at that price point becomes all about what you want from the location.

https://www.daft.ie/dublin/houses-for-sale/clonsilla,dublin-city-centre,dublin-commuter-towns,north-co-dublin,north-dublin-city,south-co-dublin,south-dublin-city,west-co-dublin/?s%5Bmnp%5D=425000&s%5Bmxp%5D=450000&s%5Bmxb%5D=3&s%5Bmxbt%5D=3&s%5Bphotos%5D=1&s%5Badvanced%5D=1&searchSource=sale

just clicked on the list, theres some seriously miserable properties for mad money https://www.daft.ie/dublin/houses-for-sale/dublin-8/28-williams-place-south-dublin-8-dublin-2120319/

Fan of Netflix

DingDongDitch wrote: »

It's a huge area to just write off at a price point like like that.
There is currently a house for sale in Dublin 15 for €2.5 million and plenty in the €1 million+ bracket.
It's an area with great public transport links - train stations at clonsilla, coolmine, castleknock, the M50, 20 mins to airport, several Dublin bus routes.
Some of the best public and private secondary schools in the country.
World class local amenities that people from all over the country/world travel to for leisure, events and concerts (National Aquatic Centre, National Sports Campus, Phoenix Park, etc).
Connolly Hospital.
Blanchardstown centre and all it’s surrounding facilities (cinema, restaurants, shopping, library, pubs, gyms, etc)
Loads of employment opportunities with all the business and industrial parks, Blanchardstown centre, etc.
I know it sounds like I’m a salesman or something for the area, but I’m just stating the facts you may not be aware of regarding the area and to make you see the reason houses and apartments in parts of Dublin 15 sell for 440k+.
Just out of curiousity, what area would you consider 440k good value for and why?

Sell me all you want, Blanchardstown is a ****hole and paying ridiculous money to be next to the Acquatic Centre and Blanchardstown Shopping Centre is insane stuff. Have we reached peak Tiger levels ffs.

Graham

Mod Note

Fan of Netflix, please improve the standard of your posts if you wish to continue posting here.

beauf

Some are just baiting with gibberish. But it doesn't matter what anyone else thinks a place or location is worth. The market set what its worth, and its the only metric worth looking at. So if someone is interested in property, (which some here are obviously not), you have to look at the factors that make the market set the value at what it does. Only then can you put value on a place.

Also some of these areas are the size of somewhere like Galway or Limerick. There is a huge variation in housing in Dublin. Some are pretty much rural beside a river, views of the mountains etc, and some are high density urban all within 5~10 mins of each other.

rireland

I'm looking on daft and the prices seem more crazy than a few months ago. A year ago where I'd be looking at there'd be many 2 bed apartments for 200k or thereabouts. Now I'm seeing min 230/240k.

Builders must be artificially halting supply. reports say prices are coming down but I don't see it. They're still a good 20% above what I would see as achievable.

Interested Observer

rireland wrote: »

Builders must be artificially halting supply.

I don't think this has ever made sense. Businesses don't work by sitting still and doing nothing.

rireland

Interested Observer wrote: »

I don't think this has ever made sense. Businesses don't work by sitting still and doing nothing.

Well would a business rather have a margin of 10% or 20%.

If they have the land they don;t need to be in a rush to develop it. All these developents have multiple sub contractors so it's not like they have lads on the books they need to have out working.

As an aside my friend is in the commercial office fit out/construction biz in Dublin and he said things are slowing.

Graham

If there's money to be made, developers will build.

They will obviously build what's most profitable first, up until very very recently that was 3-bed semis. I think that particular market is reaching saturation so I would expect to see other property types start construction.

4ensic15

rireland wrote: »

Well would a business rather have a margin of 10% or 20%.

If they have the land they don;t need to be in a rush to develop it. All these developents have multiple sub contractors so it's not like they have lads on the books they need to have out working.

As an aside my friend is in the commercial office fit out/construction biz in Dublin and he said things are slowing.

It costs money to sit on undeveloped land. Builders cannot get finance for building at any kind of a reasonable rate. Most building is being funded from abroad and is pre-sold before constructuion starts. Buolders are not going to spec build in a situation where finance and labour are expensive and they are at the mercy of the economic conditions prevailing when the development is complete.

Cryptopagan

beauf wrote: »

Ring of Kerry, or maybe Monaco is an amazing location.

Dublin City centre or a suburb might be convenient but amazing?

I don’t know if amazing is the word, but some of Dublin’s suburbs are really quite beautiful. The Ring of Kerry is stunning, but I wouldn’t want to live there.

fret_wimp2

Cryptopagan wrote: »

I don’t know if amazing is the word, but some of Dublin’s suburbs are really quite beautiful. The Ring of Kerry is stunning, but I wouldn’t want to live there.

Horses for courses.
If im looking for a 20 min commute to work, access to top schools & third level institutions, more career options and/or prefer a more urban lifestyle then Dublin ticks all the boxes.

if im looking for breathtaking scenery away from everyone then I might prefer the ring of kerry.

Then there's proximity to family which can make any location desirable to certain people.]
There are many factors that make a location desirable.