Irish Property Market 2020 Part 2

Dunston

PropQueries wrote: »

I'd believe that many of the smaller developers are holding out for the budget to see if there's anything in it to keep prices steady. If there's not, I would predict many will start following Glenveagh's lead and start dropping their advertised prices very significantly just to get their money back at least, never mind a profit.

Even if there is, it will be a stop-gap measure. If they did increase the help-to-buy to €85k as the developers are lobbying for, that measure would be removed within two years (due to budget constraints) and the prices would drop anyway. Will potential buyers realise this and hold out? Some obviously will want/ need to still buy but I would reckon professional investors would be very wary of such incentives.

Would be good for first time buyers if investors did show less interest though.

Developers are lobbying for €85k HTB? Any source for this?

Pelezico

Dunston wrote: »

Developers are lobbying for €85k HTB? Any source for this?

Wow...things must be even worse than I thought.

PropQueries

Dunston wrote: »

Developers are lobbying for €85k HTB? Any source for this?

In the Irish Independent three weeks ago: “ Builders propose €85k loan boost for first-time buyers”

Link to article here: https://m.independent.ie/business/personal-finance/property-mortgages/builders-propose-85k-loan-boost-for-first-time-buyers-39506685.html

Basically It appears they want the taxpayer to pay for the majority of the build cost for the house and they walk away with the profit.

Pelezico

PropQueries wrote: »

In the Irish Independent three weeks ago: “ Builders propose €85k loan boost for first-time buyers”

Link to article here: https://m.independent.ie/business/personal-finance/property-mortgages/builders-propose-85k-loan-boost-for-first-time-buyers-39506685.html

Basically It appears they want the taxpayer to pay for the majority of the build cost for the house and they walk away with the profit.

Seems quite sensible to me.

Beigepaint

Pelezico wrote: »

Seems quite sensible to me.

If the rob is on... get your steal in or lose out!

Pelezico

Beigepaint wrote: »

If the rob is on... get your steal in or lose out!

Absolutely...this is not an outrage thread. Most posters are completely cynical.

rks

With my limited knowledge I think the prices are not coming down substantially till the rents comes down.

Whoever is paying €2000 for a 2 bed in rent will always want to buy if they can afford and get a mortgage.

Claw Hammer

cubatahavana wrote: »

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

What would you expect to be asked for that in Mount Merrion?

drogon.

Anyone see this ?

https://kclr96fm.com/queue-expected-outside-carlow-auctioneers-tonight-before-tomorrows-house-sale/

Pelezico

drogon. wrote: »

Anyone see this ?

https://kclr96fm.com/queue-expected-outside-carlow-auctioneers-tonight-before-tomorrows-house-sale/

Houses will be ....snapped up. I love the use of language.

PropQueries

Pelezico wrote: »

Houses will be ....snapped up. I love the use of language.

That means they should ALL be marked as sale agreed tomorrow. If not...

Bass Reeves

Pelezico wrote: »

Houses will be ....snapped up. I love the use of language.

Maybe not snapped up but if you are no 1-10 in the que you choice is to buy or not to buy. If you decide to play hard ball and there is another 20-30 in the que are you willing to risk losing out.

PropQueries wrote: »

That means they should ALL be marked as sale agreed tomorrow. If not...

Maybe maybe not. But say only 15 of the houses go sale agreed tomorrow, a buyer still has a choice to throw up the sale. However again like above would a buyer be willing to walk away know that maybe 15 have gone to contract.

Snapped up is relative to you need for a house or renting for another 3-5 years

MacronvFrugals

46 Eglinton Road, Dublin 4

⇩ 20.4% €1.25M ⇨ €995K - thats a fair hit all the same

https://www.myhome.ie/residential/brochure/eglinton-lodge-46-eglinton-road-dublin-4-dublin/4447824

Smouse156

Bass Reeves wrote: »

Maybe not snapped up but if you are no 1-10 in the que you choice is to buy or not to buy. If you decide to play hard ball and there is another 20-30 in the que are you willing to risk losing out.





Maybe maybe not. But say only 15 of the houses go sale agreed tomorrow, a buyer still has a choice to throw up the sale. However again like above would a buyer be willing to walk away know that maybe 15 have gone to contract.

Snapped up is relative to you need for a house or renting for another 3-5 years

There is not many new build estates in Carlow. They cost 237k - 330k. They all qualify for “Help The Brickie”. The most expensive house will only require €3k for the deposit, the cheaper ones will be fully covered by Help The Brickie (assuming they’ve paid enough tax). I think they’ll all be gone tomorrow or shortly after.

MacronvFrugals

PropQueries wrote: »

In the Irish Independent three weeks ago: “ Builders propose €85k loan boost for first-time buyers”

Link to article here: https://m.independent.ie/business/personal-finance/property-mortgages/builders-propose-85k-loan-boost-for-first-time-buyers-39506685.html

Basically It appears they want the taxpayer to pay for the majority of the build cost for the house and they walk away with the profit.

Imagine the mental gymnastics it took for the industry to devise a scheme to keep on propping up unsustainable house prices

KnowingWind

It seems pretty likely we are about to see a big downturn in prices.
I can see investor class jumping off property....but who knows.

The Belly

KnowingWind wrote: »

It seems pretty likely we are about to see a big downturn in prices.
I can see investor class jumping off property....but who knows.

It a tough one to call as interest rates are so low and markets are super risky. If things get particularly bad you will probably see cash move to deposits and the post office and a wait and see game.

Again this will depend on the banks status the Uslter bank stuff will do nothing for confidence.

Back in the day parents would buy a rental for kids to go to uni to save on the rent but that's not viable now either.

I still expect the gov to do some kind of property investment incentive come the budget.

smellyoldboot

Can't come soon enough. The insanity and quite frankly depraved greed of thinking upward only price changes fueled by never ending government subsidies is anyway normal or sustainable needs to die , hard, fast and forever.

Let whoever gets their fingers burnt, burn.

Cyrus

smellyoldboot wrote: »

Can't come soon enough. The insanity and quite frankly depraved greed of thinking upward only price changes fueled by never ending government subsidies is anyway normal or sustainable needs to die , hard, fast and forever.

Let whoever gets their fingers burnt, burn.

The only depraved greed I’ve seen in this thread is the recession cheerleaders to be honest, how anyone could a) be happy about this and b) assume they will be unaffected and able to buy the house they want is beyond me.

hometruths

Cyrus wrote: »

The only depraved greed I’ve seen in this thread is the recession cheerleaders to be honest, how anyone could a) be happy about this and b) assume they will be unaffected and able to buy the house they want is beyond me.

a) they want to buy a cheaper house
b) they are cash rich or in secure employment

Seems fairly straightforward to me

Bubbaclaus

I put a booking deposit down on a house this week. Looking forward to being told how much of an idiot I am

The Belly

Bubbaclaus wrote: »

I put a booking deposit down on a house this week. Looking forward to being told how much of an idiot I am

Buy away and good luck:) It's your money and if its what you want go for it.

drogon.

Bubbaclaus wrote: »

I put a booking deposit down on a house this week. Looking forward to being told how much of an idiot I am

Honestly the way I look at it, if the bank is willing to lend to you now, take the opportunity and borrow it. Mortgage will most likely save you a good chunk of money rather than renting in the current market.

If **** hits the fan as some suggest here, people really need cash to buy as the bank won’t be very generous and even in that case you still need a house to live in

Hubertj

schmittel wrote: »

a) they want to buy a cheaper house
b) they are cash rich or in secure employment

Seems fairly straightforward to me

C) they are bitter and jealous of others
D) they are just miserable in general and use board to convey their miserable outlook onto others

MacronvFrugals

Hubertj wrote: »

C) they are bitter and jealous of others
D) they are just miserable in general and use board to convey their miserable outlook onto others

This sounds like it came from the Fianna Fail Ard Fheis in 2007

Hubertj

MacronvFrugals wrote: »

This sounds like it came from the Fianna Fail Ard Fheis in 2007

I’m not wrong though. Some seriously miserable people around.

What is an ard fheis?

Pelezico

MacronvFrugals wrote: »

This sounds like it came from the Fianna Fail Ard Fheis in 2007

Is that the famous Ard Fheis where Bertie said lads should commit suicide?

hometruths

Hubertj wrote: »

C) they are bitter and jealous of others
D) they are just miserable in general and use board to convey their miserable outlook onto others

Cribbing and moaning on the sidelines?

Hubertj

schmittel wrote: »

Cribbing and moaning on the sidelines?

Is that E) or a further narrative to D)?

hometruths

Hubertj wrote: »

Is that E) or a further narrative to D)?

Further to D. Your post sounded like an accusation of cribbing and moaning from the sidelines.