Irish Property Market 2020 Part 2

Graham

Mod Note

knock it off you two, there will be no further warnings.

brisan

mcsean2163 wrote: »

Were looking at this: https://touch.daft.ie/for-sale/detached-house-greenacre-ballybride-road-rathmichael-co-dublin/2560460

Just told today, already sold for above asking, cash buyer. Does cash buyer have any significance, i.e. does it mean developer?

developer

wassie

Jaysus - threads been action filled today.....should of brought the popcorn.

Seems the pent up demand with in the North has been even higher than the South with prices being reported as "hitting a five-year high". https://www.belfasttelegraph.co.uk/news/northern-ireland/ni-house-prices-hit-five-year-high-as-pent-up-demand-fuels-sales-39518402.html

Cyrus

Cyrus wrote: »

handsome house

500 shades of grey

https://www.myhome.ie/residential/brochure/18-castle-avenue-clontarf-dublin-3/4453481

That’s Gerry Ryan’s old gaff it seems

wassie

I didn't know he was colourblind

Pelezico

A lot of houses sale agreed 7000+.

What is conversion rate to sold?

Graham

Fabulous house but mother of god that's a lot of graphite grey,

Cyrus

Graham wrote: »

Fabulous house but mother of god that's a lot of graphite grey,

Stunner from the outside anyway

Yeah the grey is over whelming

sanfranbest

rks wrote: »

Its been there for quite a few months:

https://www.myhome.ie/residential/brochure/6-st-kevin-s-place-donovan-lane-blackpitts-dublin-8/4453820

They were trying to sell it for over €750000 for months. I am not sure if they managed to sell any of them.

Price updated to €695000 today. Thats over 50k drop.

Still way overpriced I think.

They are selling 3 houses?
Number 7 is still at 750k and they dropped the price of number 6 to 695K,
Not sure if they have different layouts,
But I totally agree, grossly over priced.......

Pelezico

Property register seems broken. Impossible to get statistics on total sales

Maybe it is deliberate.

Hubertj

Pelezico wrote: »

A lot of houses sale agreed 7000+.

What is conversion rate to sold?

Have looked for that but couldn’t find it. Would be interesting comparison over last 7-8 quarters

Pelezico

Hubertj wrote: »

Have looked for that but couldn’t find it. Would be interesting comparison over last 7-8 quarters

Numbers have increased significantly in the last few months. Are the banks slowing the sales process?

brisan

Cyrus wrote: »

That’s Gerry Ryan’s old gaff it seems

It is indeed

The_Conductor

brisan wrote: »

It is indeed

The grey is one issue- the other issue is the manner in which it is overcrowded- there is too much furniture- and too much bling in the place- other than the fact that its a 200 odd year old building- you'd imagine it was built by someone new to money who was desperate to buy all manner of bling.

Even painting the place in neutral colours would make it look so much better.

Whats the story with the estate agent suggesting you might like to try all the electrics and plumbing. Has it been vacant for a protracted period of time?

neutral guy

Prices starting falling when builders says prices will never fall !
Every single recession has same start !
Never underestimate second hand market !
When 3 beds on second hand will cost 100K builder will never sell new build for 320 K !

Bass Reeves

neutral guy wrote: »

Prices starting falling when builders says prices will never fall !
Every single recession has same start !
Never underestimate second hand market !
When 3 beds on second hand will cost 100K builder will never sell new build for 320 K !

Just like last time there will be no new builds

neutral guy

Bass Reeves wrote: »

Just like last time there will be no new builds

No problem at all ! Second hand market will alive and growing same as last time !

brisan

The_Conductor wrote: »

The grey is one issue- the other issue is the manner in which it is overcrowded- there is too much furniture- and too much bling in the place- other than the fact that its a 200 odd year old building- you'd imagine it was built by someone new to money who was desperate to buy all manner of bling.

Even painting the place in neutral colours would make it look so much better.

Whats the story with the estate agent suggesting you might like to try all the electrics and plumbing. Has it been vacant for a protracted period of time?

We would walk by that house 4-5 times a week.
As far as I know its still Mrs Ryans family home .
She and a couple of kids live there but she has a new man in her life now.
The house may be 200 yrs old but the original house is small most of the extensions are less than 30 yrs old .
I have no idea on the electrics and the plumbing.
It wont get the asking price buy a lot of nosey people will attend the viewings

brisan

The_Conductor wrote: »

The grey is one issue- the other issue is the manner in which it is overcrowded- there is too much furniture- and too much bling in the place- other than the fact that its a 200 odd year old building- you'd imagine it was built by someone new to money who was desperate to buy all manner of bling.

Even painting the place in neutral colours would make it look so much better.

Whats the story with the estate agent suggesting you might like to try all the electrics and plumbing. Has it been vacant for a protracted period of time?

I think they say the bit about testing appliances on every property.
Just because there is a socket there does not mean its wired

brisan

The_Conductor wrote: »

The grey is one issue- the other issue is the manner in which it is overcrowded- there is too much furniture- and too much bling in the place- other than the fact that its a 200 odd year old building- you'd imagine it was built by someone new to money who was desperate to buy all manner of bling.

Even painting the place in neutral colours would make it look so much better.

Whats the story with the estate agent suggesting you might like to try all the electrics and plumbing. Has it been vacant for a protracted period of time?

No BER details provided even though its against the law to advertise a property for sale or rent without one.
Ms Mulvaney was obviously so excited to get the house on her books she overlooked this ,as many EAs do

Bass Reeves

neutral guy wrote: »

No problem at all ! Second hand market will alive and growing same as last time !

There is not 70k houses and apartments newly built sitting unsold in the market like last time

Hubertj

brisan wrote: »

No BER details provided even though its against the law to advertise a property for sale or rent without one.
Ms Mulvaney was obviously so excited to get the house on her books she overlooked this ,as many EAs do

PRE 63s are BER exempt I think?

javaboy

Hubertj wrote: »

PRE 63s are BER exempt I think?

It’s a listed building too which I believe makes it BER exempt.

neutral guy

The offices are closed
Nobody buy food from cafe during the break in city
Cleaners,sandwich makers,small veg growers who was supplying veg into cafe and city restouraunts has no job
Milk man has less job because companies workers are seating at home and does not drink coffe at work in office
The conferences NR1 bussines in hotels went to online
Nobody does not coming to companies meetings,conferences in hotels and nobody does not stay there
Thousands low paid workers are lost them jobs in retail,hotels,cafe and restaraunts
The renting market are DEAD !
Many properties was bough taking loans ,buy to rent,etc
When renters go home there will be thousands properties for sale
It is only matter of time when
Before talking about prices will rise,we will never put prices down lets seat and think Who Will Buy your property !
When unemployment is at record High !

neutral guy

Bass Reeves wrote: »

There is not 70k houses and apartments newly built sitting unsold in the market like last time

They will be soon enough ! Please tell me why not ! Thanks

neutral guy

Do you know how much cost daily for Dublin city couple thousands of Google workers who seating at home and make sandwiches at home as well ? How many them at home now ? It is just Google,what about others ? Do you know how many cafe,restaraunts,retail will never recover ? What about those cafe workers ? Were they live,own property ? How long they will pay historicaly high rent prices in Dublin without having a job ?

Assetbacked

I don't think it can be understated how the rental market is in the process of dramatically correcting. Paying more (and significantly more at that) to rent than to pay for a mortgage was a red flag and indicated something deeply wrong. I'm just surprised covid was the great deflater, I didn't think it would be able to deflate the bubble by itself.

There's a sort of storytelling to neutral guy's posts the way they read, but one of the reasons the rental market is gone is explained by him quite well and it is due to the low paid workers in cafes, shops, hotels etc getting hardly any hours which will have a knock on effect to rents which can be paid for those still earning. Tourism and student accommodation being completely unnecessary for the rest of this year as well as WFH almost certainly lasting until next year for most companies is going to be a second wave shock to the economy and both direct and indirect to the rental market which will feel this shock instantly (in comparison to the purchasing market which will take longer). How low will it go is the question?

Foggy Jew

brisan wrote: »

We would walk by that house 4-5 times a week.
As far as I know its still Mrs Ryans family home .
She and a couple of kids live there but she has a new man in her life now.
The house may be 200 yrs old but the original house is small most of the extensions are less than 30 yrs old .
I have no idea on the electrics and the plumbing.
It wont get the asking price buy a lot of nosey people will attend the viewings

Just curious.... where would a person move to after selling a pad like this?

The Belly

I don't think it can be understated how the rental market is in the process of dramatically correcting. Paying more (and significantly more at that) to rent than to pay for a mortgage was a red flag and indicated something deeply wrong. I'm just surprised covid was the great deflater, I didn't think it would be able to deflate the bubble by itself.

It was either covid or war(not here) but covid just sped up the process with out any one to blame

There's a sort of storytelling to neutral guy's posts the way they read, but one of the reasons the rental market is gone is due to the low paid workers in cafes, shops, hotels etc getting hardly any hours which will have a knock on effect to rents which can be paid for those still earning. Tourism and student accommodation being completely unnecessary for the rest of this year as well as WFH almost certainly lasting until next year for most companies is going to be a second wave shock to the economy and both direct and indirect to the rental market which will feel this shock instantly. How low will it go is the question?

Government are itching to start shutting things down and they will. When they do its game over for the commercial and property sector and most small businesses.

Pelezico

Foggy Jew wrote: »

Just curious.... where would a person move to after selling a pad like this?

You know what...we should not be discussing Mrs Ryan's personal circumstances. It is prurient and invasive.