Irish Property Market 2020 Part 2

Iceman29

I find it strange that so many of the people with stories of how busy and competitive things are have such low "post" counts. noticed this the other day...... they wouldn't be EA's or sellers by any chance?

Graham

Iceman29 wrote: »

Funnily enough, the reason i probably missed it is because its not on the PPR?????

It's great having a mod who is so impartial

TheSheriff

Iceman29 wrote: »

Funnily enough, the reason i probably missed it is because its not on the PPR?????

It's great having a mod who is so impartial

Or maybe you are unaccustomed to how little accuracy there is in the PPR search function.......

Graham

At the end of the day, the point remains. There is little we can deduce about price movement from such a small sample size.

Some posters may be watching particular areas very closely, as such they may have a general overview of that local market but even then much will be anecdotal.

Asking prices for multi-phase new estates may give us a hint of a clue.

Overall aggregate statistics from the PPR are about the best we have at the moment, and even they're not perfect given sales often don't appear on the register until months after going sale agreed and maybe months again after completing.

Iceman29

Graham wrote: »

Apologies doesn't show up on my search, See attached

As a matter of interest what other houses come up for that road ?


Glasilawn Road.jpg

Iceman29

TheSheriff wrote: »

Or maybe you are unaccustomed to how little accuracy there is in the PPR search function.......

Is that right? and what do you use to decide on whats going on? a few people with brand new accounts on here telling everyone its really busy :rolleyes:

guyfawkes5

Your insinuation seems to be that people would register accounts to post about made up experiences at viewings as opposed to simply getting advice and talking about about their experience house hunting.

Which would you realistically think is more likely?

Iceman29

guyfawkes5 wrote: »

Your insinuation seems to be that people would register accounts to post about made up experiences at viewings as opposed to simply getting advice and talking about about their experience house hunting.

Which would you realistically think is more likely?

So you genuinely think that there are no estate agents here trying to hype things up? :cool::cool::cool::cool:

Browney7

Iceman29 wrote: »

Apologies doesn't show up on my search, See attached

As a matter of interest what other houses come up for that road ?


Glasilawn Road.jpg

Big thing for searches on that site is to keep the short - Road was shortened to RD in this case.

In general, it can be difficult to search as typos (whether deliberate or not) get input and screw up searches also.

brisan

Iceman29 wrote: »

So you genuinely think that there are no estate agents here trying to hype things up? :cool::cool::cool::cool:

The last one here who stated his occupation ie EA did not last long

I'm looking in various areas around Dublin 7.
I saw 2 properties in the list above, in particular 7 kinvara ave, asking 495k. I only remember it asking 450k.
Had an asking price offer on the first day..... Must have fallen through.... Maybe covid related.

Graham

brisan wrote: »

The last one here who stated his occupation ie EA did not last long

Occasionally it is necessary to remind a poster that self promotion (aka advertising) is not welcome. This does result in some members losing interest.

Other than that, professionals, amateurs, and interested-bystanders of all flavours are all welcome to join the discussion.

It's one of those subjects where pretty much everyone has a vested interest because almost everyone is completely dependent on Accommodation & Property to some extent.

Iceman29

brisan wrote: »

The last one here who stated his occupation ie EA did not last long

Exactly, so if they know they'll be ran out of here i'd imagine they're incognito banging the same drum

Graham

Mod Note

Iceman29, everyone here has a vested interest of some flavour as everyone here is somehow dependent on Accommodation & Property.

Stop taking the thread off-topic.

Do not reply to this post.

Mr Hindley

Well, I'm someone with a low post count who has posted purely anecdotal evidence stating that where I was looking, most places seemed to be going over asking, and quite quickly - and I do solemnly swear that I'm not an estate agent. I'm just an ordinary joe trying to move back to Ireland from London, and constrained to the south Dublin / north Wicklow area for family reasons.

I was having a quite unscientific nosey through the PPR for my preferred areas (Dun Laoghaire and Shankill) earlier in the week and that seemed to bear out my sense that most places are going for over-asking, sometimes by large amounts; but there were a few that went for under. My - again unscientific assessment - was that the good places are going like hotcakes, but the only-OK places are acting more normally.

I'm not offering the above as any kind of formal proof of anything; but I do find anecdotal stories from other posters very useful, they just need to be taken as that - anecdotal.

Sweet.Science

I went to view a house last Friday evening (the first viewing)

By 9am Monday there was an offer over 10k of the guide price

May be an anomaly as the property was in very good condition

wassie

goingagain wrote: »

We’re in the south Dublin market, max budget 1.2. Houses are going mad money with lots of bidders. One was up for 850 closed well over a million and needed total renovation.

We’re eager to move on with our lives, but we just can’t find anything. I thought with our budget we’d have our pick. Not the case.

Currently mortgage free in a 4 bed semi next to our desired area, so I think we might stay out for a while longer.

We’re sale agreed on our house, but we think we’ll have to pull out.

Having your pick all depends upon what area you are looking to buy really and generally the pool of available properties (and buyers) decreases as price goes up.

I'm not suggesting this applies to you, but I do wonder how many buyers search for properties priced at their maximum borrowing/budget and then complain about how they are being outbid on every property.

goingagain

Low post count not an estate agent.

Actually i do a lot of business on boards so I switched to my second profile as I didn’t want any clients who might look up my posts to see me talking about a 1.2 million house budget.

We’re looking in a very small area, like 6:7 roads in an area. Spent all night tossing and turning trying to decide if we want to bid again on a house or wait until next year.

Like I said we are sale agreed so that would mean pulling our sale

shatners bassoon

Low post count, not an estate agent and would be very happy for prices to drop a bit but everything I'm looking at in D7/8/9 is flying.

Cyrus

goingagain wrote: »

Low post count not an estate agent.

Actually i do a lot of business on boards so I switched to my second profile as I didn’t want any clients who might look up my posts to see me talking about a 1.2 million house budget.

We’re looking in a very small area, like 6:7 roads in an area. Spent all night tossing and turning trying to decide if we want to bid again on a house or wait until next year.

Like I said we are sale agreed so that would mean pulling our sale

unfortunately in certain areas, as you have found out over 1m isnt going to get you everything you want, in fact 2m might not and the last thing you want to to do is spend it all on a renovation project and not be able to fund that.

if you have found the house you want, and either it doesnt need extensive works, or you can afford the works it will need, will the same thing come up again? you are looking in a small area you say, so it all depends on whether there will be availability.

Mr Hindley

I love that 'Low post count, not an estate agent' is suddenly trending on this thread

#jenesuispasSherryFitz

boars

Low post count, not an estate agent.

Looking to buy in Navan area. It's really frustrating ringin up estate agents enquiring about a house on daft/ myhome.ie only to find it's sold. All of them have been on the market for the last 9 months

fliball123

Sweet.Science wrote: »

I went to view a house last Friday evening (the first viewing)

By 9am Monday there was an offer over 10k of the guide price

May be an anomaly as the property was in very good condition

Not an anomaly I am seeing the same I looked at 5 properties over the last couple of weeks 3 have offers over , 1 is on the asking the other has no bids

fliball123

wassie wrote: »

Having your pick all depends upon what area you are looking to buy really and generally the pool of available properties (and buyers) decreases as price goes up.

I'm not suggesting this applies to you, but I do wonder how many buyers search for properties priced at their maximum borrowing/budget and then complain about how they are being outbid on every property.

Very True if you want a cheap property there are options in Leitrim

brisan

fliball123 wrote: »

Very True if you want a cheap property there are options in Leitrim

And anywhere outside of Dublin
3 bed new builds 20 min walk to Wexford town centre for 235k.
And you can park your car in the driveway ,now there's a novelty
Same property is at least 400k in Dublin

fliball123

brisan wrote: »

And anywhere outside of Dublin
3 bed new builds 20 min walk to Wexford town centre for 235k.
And you can park your car in the driveway ,now there's a novelty
Same property is at least 400k in Dublin

There is a very big issue with entitlement in this country people think they should be able to afford the best property in the best places for a price that they can afford, unfortunately it doesn't work like that it is a competition and your not only competing against other people who are working their asses off to get a 2 bedroom on the surrounding counties of Dublin your dealing with welfare as Jenny with the 5 kids from 3 different dads wants to live in Foxrock beside her baby daddies job so he can live there rent free as well. Then throw in the REITS and international investors who look at the ROI in Ireland and are literally drooling.

I have seen a property we like its 20k over what we want to pay but we are going to go for it. Sick waiting now I have been living in a 2 bed house with 2 kids and it has been hell especially with lockdown and with the notion that at any stage we could be locked down again I need more space and as a family we need to grow. I wouldn't tell anyone else to buy or not to buy, look at your circumstance and do whats best for you

wassie

shatners bassoon wrote: »

Low post count, not an estate agent and would be very happy for prices to drop a bit but everything I'm looking at in D7/8/9 is flying.

All buyers want the market to drop, until the day they become homeowners.

Funny that.

Cyrus

Iceman29 wrote: »

101 AUGHAVANAGH RD asking 265 sold 265
11 FRANKFORT PARK  asking 1.15 sold 1.1
6 CASTLEGATE COURT  asking 295k sold 275K
10 BLACK ST asking 295 sold 260
15 ST ENDAS DR asking 515 sold 496
162 THE OVAL asking 300 sold 310
37 GLASILAWN ROAD  asking 360 sold 315
5 AVOCA PARK  asking 1.35 sold 1.16
6 LATCHFORD SQ  asking 300 sold 310
19 BROOKFORD PARK  asking 260 sold 255
57 BRIDGEWATER QUAY  asking 395 sold 415
87 BUSHY PARK ROAD asking 1.395 sold 1.050
99 VILLA PARK GARDENS  asking 499 sold 435
63 NEWMARKET SQ  asking 300 (2016) sold 285
195 TEMPLE COURT  asking 250 sold 240
4 CARYSFORT ROAD  asking 419 sold 370
17 KILLESTER PARK  asking 470 sold 397
18 MARLFIELD GREEN  asking 249 sold 245
54 DERRAVARAGH RD  asking 475 Sold 485
7 KINVARA AVE  asking 495 sold 418
128 CAPTAINS RD  asking 285 sold 310


Read into this whatever way you want.......

since you asked

what this shows is that if you strip out the 1m + houses (where prices have been stagnating for more than 2 years now) then you see a 5% delta between asking prices and achieved prices.

Of 18 properties 12 sold for unde asking and 6 sold for asking or higher.

and all that tells you is

very little, as has been pointed out and explained a dozen times now.

Billythekid19

This property was listed at 350k on daft a few weeks ago. Now gone up to 381k on an auction site, just goes to show if you have the location you will always sell. https://www.auctioneera.ie/property/kilbrogan-7-rockboro-avenue-old-blackrock-road-cork-city-cork-t12-yt4a

Browney7

Cyrus wrote: »

since you asked

what this shows is that if you strip out the 1m + houses (where prices have been stagnating for more than 2 years now) then you see a 5% delta between asking prices and achieved prices.

Of 18 properties 12 sold for unde asking and 6 sold for asking or higher.

and all that tells you is

very little, as has been pointed out and explained a dozen times now.

Yes but there is a lot of anecdotal evidence to the contrary not being scrutinised as much - "I'm looking here and it's flying, offers over asking" etc etc.

Pre Covid these houses might have had higher asking prices or higher expected sale values whereas now they are being priced to sell and people are giving out an impression that the market is rising after Covid which is a fair jump too.

The only stats worth looking at are the CSO price index stats and changes which are a few months in arrears and these are showing the property market has been flat for a number of months now.