Property Market 2020

ZX7R

SteelyDanJalapeno wrote: »

200-250k all in cork city thou, does the asking price matter thou? Average size is probably a better metric, they were about 90sqm. And optional 1k per sqm for an extension

Asking price matters a lot as your original post was about north Wicklow , asking prices in Wicklow are always high hardest county for planning ECT.
I've seen houses bought at €250k renovated and sold for €150k profit.
One of the few county's that didn't bottom out during the recession.
As far as cork goes I would not be able to comment .
But if I liked the house and was planning on living in it for a long period ,I would not be afraid to but €100k into it.

BarryD2

Did I hear an ad today.... that the Sunday Property Supplement is back? Hmmmmmmmmm, where have we seen these before?

car_radio19834

Anyone know what the prospective changes for first time buyers will be depending on the election?

I think i read something about FF allowing the FTB grant to be used for 2nd hand properties. Can it be used for the rebuilding ireland home loan?

bellylint

https://www.myhome.ie/pricechanges/wicklow/bray
In Bray out of 66 prices movements over the span of last year only 7 are increases.

cunnifferous wrote: »

I'm not seeing any asking price drops either in the North Wicklow area. In fact some of the new builds seems to be reaching even higher. 3 bed semi-d with asking of 485k in one such new development. I drove around another new development today and quite a few still seem vacant despite being finished so I don't know what that says.

Lot of 2nd hand houses in poor shape but refusing to accept any lower than asking despite needing 100k+ put into them. Any good 2nd hand houses not in bad shape selling fast but not too many of them around unfortunately.

zweton

car_radio19834 wrote: »

Anyone know what the prospective changes for first time buyers will be depending on the election?

I think i read something about FF allowing the FTB grant to be used for 2nd hand properties. Can it be used for the rebuilding ireland home loan?

"FTB grant to be used for 2nd hand properties" This would be great if they did, I wonder why they were excluded in the first place...

ZX7R

bellylint wrote: »

https://www.myhome.ie/pricechanges/wicklow/bray
In Bray out of 66 prices movements over the span of last year only 7 are increases.

Last price reduction was last November the market has changed since

Foggy Jew

Foggy Jew wrote: »

I’m currently selling a property. I consulted two Estate Agents, both of whom gave me the same approximate of the value of the house. One suggested we put it on the market at that price, and the other suggested an initial asking price of €50,000 less ‘to generate interest & possibly start a bidding war’.

Doh!! I meant to ask you guys which Estate Agent I shoukd go with..... the realistic price guys or the undervaluers. Your input would be much appreciated. Thanks. Foggy

ebayissues

zweton wrote: »

"FTB grant to be used for 2nd hand properties" This would be great if they did, I wonder why they were excluded in the first place...

This will just push up house prices.

The next FTB was introduced, new builds I kept an eye out for jumped by 20k.

0gac3yjefb5sv7

ebayissues wrote: »

This will just push up house prices.

The next FTB was introduced, new builds I kept an eye out for jumped by 20k.

Strange why it was excluded in the first place. If people are getting free cash for new builds why shouldn't 2nd hand get it too.

headtheball14

Pheonix10 wrote: »

Strange why it was excluded in the first place. If people are getting free cash for new builds why shouldn't 2nd hand get it too.

It’s not strange at all. Why would they give a grant for an existing house to be bought by a ftb with additional money from the government. All you are doing is pushing prices up.
A new house has a large amount of its purchase price in vat, the builders working on it pay tax etc. So a new house pays money back immediately, the theory is it may not have been built without the grant. None of this applies to an existing house. It’s never been paid for second hand houses

BarryD2

headtheball14 wrote: »

It’s not strange at all. Why would they give a grant for an existing house to be bought by a ftb with additional money from the government. All you are doing is pushing prices up.
A new house has a large amount of its purchase price in vat, the builders working on it pay tax etc. So a new house pays money back immediately, the theory is it may not have been built without the grant. None of this applies to an existing house. It’s never been paid for second hand houses

Agree, but isn't that also part of the housing issue - the incentives are geared more towards building new housing stock rather than rehabilitating what we already have. We've seen this in the 'hollowing out' of urban communities created by incentives to move to new builds in the suburbs and commuter towns.

tobsey

BarryD2 wrote: »

Did I hear an ad today.... that the Sunday Property Supplement is back? Hmmmmmmmmm, where have we seen these before?

In the Sunday Independent? If it was gone it was only for a month or so. Maybe they don’t produce it around Christmas because the market is quiet, but it’s always been printed even in the lowest point in the property market.

browne_rob5

ZX7R wrote: »

Last price reduction was last November the market has changed since

Surely these price movements are irrelevant anyway. In a case where there is interest in a property and several people are bidding on it leading to a price above asking the estate agent isn't logging onto Myhome and posting the price increase. Its all happening behind the scenes.

You will only mainly see price drops on these where houses aren't getting offers. The price increases are probably sales tactics by the estate agents.

handlemaster

I note some of the political parties saying they will fix rental prices if they get into office. This will in the short term at least be more of an effect in the property prices than Brexit.

19233974

FF have already said they wont bring in rent caps so unlikely to come in as they are prob going to get in. Although i guess if SF can win as many seating as has been predicted we might see some real change in terms of housing.

handlemaster

19233974 wrote: »

FF have already said they wont bring in rent caps so unlikely to come in as they are prob going to get in. Although i guess if SF can win as many seating as has been predicted we might see some real change in terms of housing.

Free houses for all.. o wait who pays for that ??

Assetbacked

19233974 wrote: »

FF have already said they wont bring in rent caps so unlikely to come in as they are prob going to get in. Although i guess if SF can win as many seating as has been predicted we might see some real change in terms of housing.

SF polled well in 2016 but ended up not matching it in votes. I can't see information on how the opinion polls are conducted - do they factor in transfers as well? I wonder as I would guess FF and FG voters don't give many preferences to SF candidates.

ZX7R

browne_rob5 wrote: »

Surely these price movements are irrelevant anyway. In a case where there is interest in a property and several people are bidding on it leading to a price above asking the estate agent isn't logging onto Myhome and posting the price increase. Its all happening behind the scenes.

You will only mainly see price drops on these where houses aren't getting offers. The price increases are probably sales tactics by the estate agents.

Hard to tell to be honest, I believe a lot of second hand House 450k bracket were hard to sell because of britx last year .
Buyer's didn't buy believing in a price drop that didn't materialises.
Pieces are stable at the moment and starting to rise.
I can see a lot of people gettin bitten because they held off buying last year.

Knex*

Mic 1972 wrote: »

I have a feeling prices are bouncing back up by looking at the latest properties being added to MyHome. Asking prices seem higher
Also I'm hearing about very crowded viewings that i hadn't heard of in a while.
I hope I'm wrong

Was at a viewing in Artane at the weekend for a property that's listed for 405k.

Must have been 60 people in the house when we turned up. Literally had to queue in single file to wander between the rooms.

nerrad01

handlemaster wrote: »

Free houses for all.. o wait who pays for that ??

well the FG/FF backed strategy on housing has worked out amazingly so far hasnt it. The shinners dont have enough candidates to ever get into power but a few more lefties might not be a bad thing considering the monumental mess of a housing market we have at the moment.

ebayissues

Knex. wrote: »

Was at a viewing in Artane at the weekend for a property that's listed for 405k.

Must have been 60 people in the house when we turned up. Literally had to queue in single file to wander between the rooms.

Saw one in eastwall aswell as easily 50+ who came to view it.. I didn't bother mailing the agent as I know it's going to go over the asking by a good bit.

handlemaster

nerrad01 wrote: »

well the FG/FF backed strategy on housing has worked out amazingly so far hasnt it. The shinners dont have enough candidates to ever get into power but a few more lefties might not be a bad thing considering the monumental mess of a housing market we have at the moment.

No doubt they haven't solved the problem. But on the other hand every mickey mouse charity has created a niche for them selves from.banging the same drum. Even the anti eviction guys in the back ground cleaning up . I dont believe all the hype around the homeless. Lots of people been branded homeless arent actually homeless but it's not the 'thing' to say. Its quicker also to get that golden ticket on the social housing list if your are classified as homeless.

Dont forget the government have been pandering to the public for a decade on housing ... cruxifing the one sector that is giving housing I.e. the small time landlord. The people have only gotten what they wanted.

Dolbhad

ZX7R wrote: »

Hard to tell to be honest, I believe a lot of second hand House 450k bracket were hard to sell because of britx last year .
Buyer's didn't buy believing in a price drop that didn't materialises.
Pieces are stable at the moment and starting to rise.
I can see a lot of people gettin bitten because they held off buying last year.

I think it’s more Brexit also scared sellers. I know some who were holding off and going to see would they list a house for sale or not if they want under pressure to buy another house. Seems to be more houses going up daily then Oct-Nov

riclad

Fianna fail and fianna gael are saying they will build 20k plus house,s every year,
if this actually happens this could stop house prices, rising in the next few years .

Assetbacked

riclad wrote: »

Fianna fail and fianna gael are saying they will build 20k plus house,s every year,
if this actually happens this could stop house prices, rising in the next few years .

That's what they're saying but in reality at least 30,000 are needed per year with Varadker even saying 40,000 recently. Of course, house prices would be likely to fall so therefore price decreases are not the sign of a struggling property economy/market. It's hard to see them drop by too much though even with significant increase in supply given the huge demand at the moment and over the next few years it is expected to remain strong.

It's also worth noting that the longer the rental crisis goes on, the more people who will need State assistance with housing when they're retired and this will cost a fortune so this is another massive incentive to take the necessary measures to significantly increase the supply of housing.

davedub2015

Feel that prices are higher than before christmas. More buyers on the market than in November and December..

J_1980

Assetbacked wrote: »

That's what they're saying but in reality at least 30,000 are needed per year with Varadker even saying 40,000 recently.

Anyone claiming they can build these numbers is simply lying.
You can look up the eurostat number of housing completions of comparable countries (Germany, UK, Sweden, Netherlands) which have similar labour costs, building standards and a construction industry at capacity.
Then scale these to the Irish population, and you end up with 20-25k pa. The quarterly completions and planning permissions are already plateauing near that number except for a bump last year when planning for apartment blocks was eased.

Umaro

I know this is probably a "How long is a piece of string?" question, but here goes...


I am currently the highest bidder on a property. The bidding has exceeded asking price. How long will an estate agent / vendor usually wait before this will move to sale agreed? I can only go a small bit higher, so any subsequent bids will probably kill me off.

PommieBast

Umaro wrote: »

I am currently the highest bidder on a property. The bidding has exceeded asking price. How long will an estate agent / vendor usually wait before this will move to sale agreed?

From my limited experience, probably a week or two.

SteelyDanJalapeno

Fine Gael: The party said it will continue the scheme. It plans to expand it to a maximum of €30,000 or 10% of the purchase or building cost of a new home.