Irish Property Market 2020 Part 2

LuasSimon

Hard to know how people can keep affording the high prices of property . There’s not a housing crisis there’s a AFFORDABILITY crisis .

M256

LuasSimon wrote: »

Hard to know how people can keep affording the high prices of property . There’s not a housing crisis there’s a AFFORDABILITY crisis .

They take a 30 year mortgage and pay 3K a month for the rest of their lives

awec

M256 wrote: »

They take a 30 year mortgage and pay 3K a month for the rest of their lives

I'm guessing you've never bought a property?

3k a month over 30 years would get you a serious gaff.

smurgen

Cyrus wrote: »

Ah the bould smurgen , bought a house for peanuts yet ? No didn’t think so.

How do you reckon wfh is a success ? How are you gauging it? Funnily the leaders of some of our most important Mncs appear to disagree .

When lockdown is over we will see people return to the office , absolutely . You are conveniently forgetting the guidance to wfh where possible never lifted, when it does come back to me.

Full service of clients, no client complaints. Fully operational from home. Our office has downsized now. Boss terminated a 160 person office lease and we've gone for 100 instead outside the city. You really don't have a clue what's going on. Let's be honest.

Bubbaclaus

awec wrote: »

I'm guessing you've never bought a property?

3k a month over 30 years would get you a serious gaff.

Wouldn't be far off the one million mark.

Cyrus

smurgen wrote: »

Full service of clients, no client complaints. Fully operational from home. Our office has downsized now. Boss terminated a 160 person office lease and we've gone for 100 instead outside the city. You really don't have a clue what's going on. Let's be honest.

Smurgen when the grown ups decide what’s happening and who works from where you’ll do as your told, just because you want something to happen doesn’t mean that it will.

The leaders of our largest mncs know less than you according to your logic .

Why did your company bother taking an office at all if everyone working from home is working so well?

cubatahavana

Bubbaclaus wrote: »

Wouldn't be far off the one million mark.

75 sqm three bed in Foxrock, then?

Cyrus

Bubbaclaus wrote: »

Wouldn't be far off the one million mark.

750k mortgage at 2.5 percent so with a 20 percent deposit almost at a million.

lcwill

PropQueries wrote: »

I fully understand how some people currently working from home being annoyed about working in their spare bedroom, kitchen etc.

But, equally, it’s only been c. 9 months. How long before people start investing a relatively small amount of money in converting their attic space etc. into a proper WFH space.

This will make WFH a lot more bearable for many people currently living in 3 bed semis where the attic hasn’t been converted yet.

This can all happen in a very short period of time and then working from home 3 days a week becomes bearable and the norm going forward.

Long term it's not about WFH, it's about co-working. I did WFH for a year in the past, and the novelty wore off and eventually I was happy to pay for a desk in a co-working space - it gives structure to the day, social interaction, separates work space from home space, and is the best of all worlds - more relaxed than going to the office, and there are co-working spaces everywhere (or at least there will be) so you can live where you want and have a short commute.

M256

awec wrote: »

I'm guessing you've never bought a property?

3k a month over 30 years would get you a serious gaff.

Would you call it a serious gaff? Just a random example from daft.ie
https://www.daft.ie/dublin/houses-for-sale/dundrum/75-highfield-park-dundrum-dundrum-dublin-2812613/

lalababa

TheSheriff wrote: »

Em, because in terms of the residential property price index there haven't been any falls in the property market?

Lots of fall in Kerry & West Cork. I'd assume that's a bell weather for ALL rural. Cork City holding up however....(maybe people with cash think it's time to buy now..also supply is low)

Cyrus

M256 wrote: »

Would you call it a serious gaff? Just a random example from daft.ie
https://www.daft.ie/dublin/houses-for-sale/dundrum/75-highfield-park-dundrum-dundrum-dublin-2812613/

I also picked this at random what’s the point ?

https://www.daft.ie/12612207

smurgen

Cyrus wrote: »

Smurgen when the grown ups decide what’s happening and who works from where you’ll do as your told, just because you want something to happen doesn’t mean that it will.

The leaders of our largest mncs know less than you according to your logic .

Why did your company bother taking an office at all if everyone working from home is working so well?

Point went over your head . You wouldn't cut it in a multinational. Manager of 18 here so I'm one of the ones who gets to decide who can WFH.

Cyrus

smurgen wrote: »

Point went over your head

It really didn’t , run along now good lad, haven’t you some nonsense to post in the politics forum ?

Cyrus

smurgen wrote: »

Point went over your head . You wouldn't cut it in a multinational. Manager of 18 here so I'm one of the ones who gets to decide who can WFH.

Sure you are

smurgen

Cyrus wrote: »

Sure you are

Yep. And you are? You genuinely seem to have little insight into how proper multinationals work. Unless you're working for some dodgy crowd like Savills?

Cyrus

smurgen wrote: »

Yep. And you are? You genuinely seem to have little insight into how proper multinationals work. Unless you're working for some dodgy crowd like Savills?

Smurgen I’ve seen enough of your posts to know how little you know about anything .

I won’t bother getting into Willy waving competition with you because it wouldn’t be one.

As I said when the grown ups decide you’ll be told what’s happening.

Graham

Mod Note

knock it off you two.

combat14

interesting article on australias current and predicted house price fall


Australian housing market could see a historic crash


https://amp.news.com.au/finance/economy/australian-economy/australian-housing-market-could-see-a-historic-crash/news-story/d0f293b126f4ef1362d00124d0f06eb1

cnocbui

combat14 wrote: »

interesting article on australias current and predicted house price fall


Australian housing market could see a historic crash


https://amp.news.com.au/finance/economy/australian-economy/australian-housing-market-could-see-a-historic-crash/news-story/d0f293b126f4ef1362d00124d0f06eb1

I wouldn't bet on it. Historic is the right word as Australia has not had more than a brief minor correction in house prices in 60 years. House prices in the main cities are up 450-600 % over the last 30 years. Even with the plague, they are still up 6.2% YOY.

combat14

cnocbui wrote: »

I wouldn't bet on it. Historic is the right word as Australia has not had more than a brief minor correction in house prices in 60 years. House prices in the main cities are up 450-600 % over the last 30 years. Even with the plague, they are still up 6.2% YOY.

According to PEXA, from the start of the year until the end of September, housing prices in NSW are down 9 per cent and in Victoria, prices were down a whopping 14 per cent. Commercial property in NSW also fared extremely poorly, with prices down 14 per cent in the first nine months of the year.

we will have to wait and see

brisan

Cyrus wrote: »

I also picked this at random what’s the point ?

https://www.daft.ie/12612207

Bit of a difference between dundrum and the back end of Cork to be fair

Balluba

The Daft Report is published today

Cyrus

brisan wrote: »

Bit of a difference between dundrum and the back end of Cork to be fair

sure but who said the house had to be in dundrum, the fact remains you can get a serious house for well under 1m, not in dundrum but we all know that.

Balluba

‘RENTS FALL IN DUBLIN - THE FIRST TIME SINCE 2011’ ———— DAFT REPORT Nov 9th 2020

PropQueries

Balluba wrote: »

‘RENTS FALL IN DUBLIN - THE FIRST TIME SINCE 2011’ ———— DAFT REPORT Nov 9th 2020

The report states that rents in Waterford City are up 5% YOY. Given that the IT has been online since the start of the academic year and students won't be returning until September 2021, how is that even possible? And that doesn't even include the AirBnB stock that should have re-entered the regular rental market.

Is the Daft report even a reliable source of rental data anymore?

Just to add. It's for Q3, so should we see big declines in e.g. Waterford City for Q4? It also appears these Daft rental reports suffer from the same lag effect as the PPR.

thefridge2006

any link to the report?

Pete123456

thefridge2006 wrote: »

any link to the report?

Link here: https://www.daft.ie/report/2020-Q3-rental-daftreport.pdf

fliball123

PropQueries wrote: »

The report states that rents in Waterford City are up 5% YOY. Given that the IT has been online since the start of the academic year and students won't be returning until September 2021, how is that even possible? And that doesn't even include the AirBnB stock that should have re-entered the regular rental market.

Is the Daft report even a reliable source of rental data anymore?

Just to add. It's for Q3, so should we see big declines in e.g. Waterford City for Q4? It also appears these Daft rental reports suffer from the same lag effect as the PPR.

Rents were always going to fall in dublin with the Air Bnbs and student accommodation coming into play for competition this year and maybe next year as well

PropQueries

thefridge2006 wrote: »

any link to the report?

The link to the latest Daft rental report is here: https://www.daft.ie/report

It's for Q3 so it could be down to landlords hoping that the lockdown was a temporary measure during the Summer months and hoping for a return to normal in Q4.