Irish Property Market 2020 Part 2

fliball123

Pelezico wrote: »

The dip started last year I reckon.

Could the dip in activity (not price) be down to poor supply

cubatahavana

fliball123 wrote: »

Could the dip in activity (not price) be down to poor supply

I found that the quality of houses out there within our budget (<700k) was appaling. We basically were looking all over Dublin. Our criteria was:

- Decent size 4 beds
- Decent garden
- Walk in condition or nearly (very little work to put in)
- Good BER rating (good insulation is important to us)
- Good public schools around
- Not more than 1 hr commute in public transport to work (city center)
- Good area with little antisocial behavior

In the end we have settled for a new build in south dublin that ticks all the boxes. When we saw it we decided inmediately to purchase it, as the quality of the other homes was terrible (according to our criteria). Market may go down in a few months, but for sure we wouldn't find this house or something similar

MacronvFrugals

cubatahavana wrote: »

I found that the quality of houses out there within our budget (<700k) was appaling. We basically were looking all over Dublin. Our criteria was:

- Decent size 4 beds
- Decent garden
- Walk in condition or nearly (very little work to put in)
- Good BER rating (good insulation is important to us)
- Good public schools around
- Not more than 1 hr commute in public transport to work (city center)
- Good area with little antisocial behavior

In the end we have settled for a new build in south dublin that ticks all the boxes. When we saw it we decided inmediately to purchase it, as the quality of the other homes was terrible (according to our criteria). Market may go down in a few months, but for sure we wouldn't find this house or something similar

Jesus with that money its amazing you cant get what you're looking for.

beauf

fliball123 wrote: »

Could the dip in activity (not price) be down to poor supply

Why did something happen in the last 6 months?

Smouse156

cubatahavana wrote: »

I found that the quality of houses out there within our budget (<700k) was appaling. We basically were looking all over Dublin. Our criteria was:

- Decent size 4 beds
- Decent garden
- Walk in condition or nearly (very little work to put in)
- Good BER rating (good insulation is important to us)
- Good public schools around
- Not more than 1 hr commute in public transport to work (city center)
- Good area with little antisocial behavior

In the end we have settled for a new build in south dublin that ticks all the boxes. When we saw it we decided inmediately to purchase it, as the quality of the other homes was terrible (according to our criteria). Market may go down in a few months, but for sure we wouldn't find this house or something similar

We have similar criteria. Do you mind me asking where you bought?

MacronvFrugals

Leozord wrote: »

she was paying a good price

there was a well know house in Rathmines composed by 42 girls (mostly Brazilians, with few french and Italian girls) where they were paying 250 for a bed in a 6 to 10-bed room.

I see the prices are getting better for rent in foreign groups. Not massively but it is improving alright.

And people wonder why landlords are hated in Ireland.

Thats a sum*ag in my opinion, but there was the guy renting out rooms in a factory a few weeks ago, how do they get away it?

Are these type of properties common or outliers i wonder.

cubatahavana

MacronvFrugals wrote: »

Jesus with that money its amazing you cant get what you're looking for.

Sad. isn't it?

Leozord

is there a way to improve the BER rating of an apartment?

I tried to google about it but didn't find any good information... not much more than "install solar panels" etc

cubatahavana

Leozord wrote: »

is there a way to improve the BER rating of an apartment?

I tried to google about it but didn't find any good information... not much more than "install solar panels" etc

Improve insulation of walls, change bulbs to energy efficient, install a combi boiler...

PropQueries

cubatahavana wrote: »

I found that the quality of houses out there within our budget (<700k) was appaling. We basically were looking all over Dublin. Our criteria was:

- Decent size 4 beds
- Decent garden
- Walk in condition or nearly (very little work to put in)
- Good BER rating (good insulation is important to us)
- Good public schools around
- Not more than 1 hr commute in public transport to work (city center)
- Good area with little antisocial behavior

In the end we have settled for a new build in south dublin that ticks all the boxes. When we saw it we decided inmediately to purchase it, as the quality of the other homes was terrible (according to our criteria). Market may go down in a few months, but for sure we wouldn't find this house or something similar

If anti-social behaviour was one of your important criteria, I would personally have stayed away from the new build estates. Up to now and going forward, there's a very high chance many will either be sold to or rented by the council. It doesn't really matter how expensive they are, the council buys or rents many of them.

I would also have checked if there were any green fields nearby as they will be most likely be used for a future build-to-rent development i.e. build to rent doesn't and has never meant renting to e.g. highly paid IT workers. That is/was the story put out to minimise local objections. It has and always will mean mainly either council housing or HAP tenants.

Leozord

Leozord wrote: »

is there a way to improve the BER rating of an apartment?........

Conceptually yes ....... triple glazing....... interior/exterior wall insulation........ attic insulation but none of them are feasible unless the entire building is being done I imagine.

Most apartment are toasty enough surely unless they've the dreaded storage heating.

MacronvFrugals

cubatahavana wrote: »

Sad. isn't it?

Tbh i was always under the impression 450-500k could fill your list in any area of the country.

cubatahavana

PropQueries wrote: »

If anti-social behaviour was one of your important criteria, I would personally have stayed away from the new build estates. Up to now and going forward, there's a very high chance many will either be sold to or rented by the council. It doesn't really matter how expensive they are, the council buys or rents many of them.

I would also have checked if there were any green fields nearby as they will be most likely be used for a future build-to-rent development i.e. build to rent doesn't and has never meant renting to e.g. highly paid IT workers. That is/was the story put out to minimise local objections. It has and always will mean mainly either council housing or HAP tenants.

It's a small new development. We hadn't seen anything else that we liked and we were looking to move soon. I live now near a block of social housing and so far we have had minimal issues, quite the opposite, so I'm not extremely concerned about it.

enricoh

Leozord wrote: »

she was paying a good price

there was a well know house in Rathmines composed by 42 girls (mostly Brazilians, with few french and Italian girls) where they were paying 250 for a bed in a 6 to 10-bed room.

I see the prices are getting better for rent in foreign groups. Not massively but it is improving alright.

More often than not the landlord is oblivious and it's their fellow countrymen lashing in the bunk beds.

Claw Hammer

MacronvFrugals wrote: »

Tbh i was always under the impression 450-500k could fill your list in any area of the country.

You must be joking. Double that wouldn't be enough in a large swathe of south-east Dublin. Take Mount Merrion for example. What house, in walk-in condition, with good gardens and a good BER rating could be got for less than €900,000?

cubatahavana

Claw Hammer wrote: »

You must be joking. Double that wouldn't be enough in a large swathe of south-east Dublin. Take Mount Merrion for example. What house, in walk-in condition, with good gardens and a good BER rating could be got for less than €900,000?

Now, as a Spanish man myself, and having lived in apartments my whole life, we may have a different view of what constitutes a good garden. For me 80-90sqm and south-west or south-east is enough

MacronvFrugals

enricoh wrote: »

More often than not the landlord is oblivious and it's their fellow countrymen lashing in the bunk beds.

"More often" i'm not so sure about that, my Ex's place the landlrd was an Irish lady and collected the money (in cash) each week.

MacronvFrugals

Claw Hammer wrote: »

You must be joking. Double that wouldn't be enough in a large swathe of south-east Dublin. Take Mount Merrion for example. What house, in walk-in condition, with good gardens and a good BER rating could be got for less than €900,000?

I know the really sought after areas but probably underestimated how expensive places are out that way.

Thought having access to 700k would remove all those barriers apart from places where a celebrity lives next door.

cnocbui

Augeo wrote: »

Conceptually yes ....... triple glazing....... interior/exterior wall insulation........ attic insulation but none of them are feasible unless the entire building is being done I imagine.

Most apartment are toasty enough surely unless they've the dreaded storage heating.

The break even point for the extra costs of a passive house are around 30 years.

PropQueries

cubatahavana wrote: »

It's a small new development. We hadn't seen anything else that we liked and we were looking to move soon. I live now near a block of social housing and so far we have had minimal issues, quite the opposite, so I'm not extremely concerned about it.

You're probably fine then. But keep an eye out for planning submissions near your estate. You don't want to be caught out like the billionaires on Ailesbury Road.

"Dermot Desmond’s ‘Ballymun Towers South Dublin’ tag for plan on ex-RTÉ land branded ‘incredible’".

Link here: https://www.independent.ie/irish-news/dermot-desmonds-ballymun-towers-south-dublin-tag-for-plan-on-ex-rte-land-branded-incredible-39510797.html

MacronvFrugals

"Dermot Desmond’s ‘Ballymun Towers South Dublin’ tag for plan on ex-RTÉ land branded ‘incredible’".


I love the Irony of this guy branding anyone, his wiki page reads like a Mafioso boss.

Sorolla

Trying to sell cottage in the west of Ireland - plenty of enquiries to the estate agent but no real buyers out there

Most of those who contact the estate agent want a viewing (just to gawk around the place) but have no interest in buying

A lot of time wasters out there

PropQueries

Claw Hammer wrote: »

You must be joking. Double that wouldn't be enough in a large swathe of south-east Dublin. Take Mount Merrion for example. What house, in walk-in condition, with good gardens and a good BER rating could be got for less than €900,000?

Maybe at the moment. But many of the people living in those type of areas will have passed away in the next ten years. There will be very few people in ten years time able to pay that type of money and given the excess supply of those type of houses that will exist at that stage, the prices of those types of homes should fall significantly.

If someone plans to live there forever, that's not a problem, but if someone was buying a home there in the expectation of a significant capital gain in a few years, I would predict they will end up being seriously disappointed.

PropQueries

MacronvFrugals wrote: »

"Dermot Desmond’s ‘Ballymun Towers South Dublin’ tag for plan on ex-RTÉ land branded ‘incredible’".


I love the Irony of this guy branding anyone, his wiki page reads like a Mafioso boss.

I love it too But the truth is that a three-bed in a so-called 'good area' doesn't cost any more to build than a three-bed in Ballymun. The price difference being paid is to be away from such areas. Otherwise, what's the point in paying double or treble the price?

Pelezico

fliball123 wrote: »

Could the dip in activity (not price) be down to poor supply

The fall in prices started last year. Activity has collapsed too.

It is great to have you on board to dissuade us from any hint that prices have indeed fallen and will continue to fall.

MacronvFrugals

PropQueries wrote: »

I love it too But the truth is that a three-bed in a so-called 'good area' doesn't cost any more to build than a three-bed in Ballymun. The price difference being paid is to be away from such areas. Otherwise, what's the point in paying double or treble the price?

lol, kind of reminds me of the time George Lucas's neighbours annoyed him and he went to put 224 affordable houses in their backyard

Thats land value is it that makes that difference in cost? I wonder how much extra the fittings/fixtures would be when comparing a 3 bed in Ballymun with a'good area'.

fliball123

beauf wrote: »

Why did something happen in the last 6 months?

Supply is really being drained away from the market for some reason

fliball123

Pelezico wrote: »

The fall in prices started last year. Activity has collapsed too.

It is great to have you on board to dissuade us from any hint that prices have indeed fallen and will continue to fall.

Not according to the CSO and the price property register price has not yet dropped, activity has alright. I am on record here saying that I think prices will drop in the future I am not trying to dissuade you or anyone else just stating the facts as they are

PropQueries

MacronvFrugals wrote: »

lol, kind of reminds me of the time George Lucas's neighbours annoyed him and he went to put 224 affordable houses in their backyard

Thats land value is it that makes that difference in cost? I wonder how much extra the fittings/fixtures would be when comparing a 3 bed in Ballymun with a'good area'.

good story. But fixtures and fittings don't cost anything really. They buy them wholesale. They put a €200 flat screen tv etc. in the sitting room and people pay an extra €10k for the house. It amazes me sometimes.

It's like those solar panels on the new a-rated homes. They probably add €20k to the price of the house but only cost the developer a couple of hundred euro to buy and install.

PropQueries

fliball123 wrote: »

Supply is really being drained away from the market for some reason

Here's the answer to your question.

"State bodies playing role in squeezing Dublin housing market"

"Groups other than households bought almost half new homes in capital in last year"

Irish Times article: https://www.irishtimes.com/business/commercial-property/state-bodies-playing-role-in-squeezing-dublin-housing-market-1.4356642