2021 Irish Property Market chat - *mod warnings post 1*

JimmyVik

Reins wrote: »

They seemed to do it very well before.

No more than 2 in one group

Masks + hand sanitizer

There is a lot more virus around now than then though.

RichardAnd

Reins wrote: »

I think if they were to we'd of heard by now so assume they aren't.

Due to a low volume of what estate agents must have to sell right now I think they'd be happier to get back to physical viewings plus I've heard there's increased sale agreeds falling through which benefits no one.

I hope they recommence viewings soon. The current situation is disruptive in the extreme.

zom

Can someone please explain me what "Arena-designed kitchens" means?
https://www.daft.ie/for-rent/knockrabo-mount-anville-road-goatstown-dublin-14/2621605

Villa05

Reins wrote:

Well if the government allowed viewings to resume on the 12th April along with construction it would help with the situation,no?

Estate agents will use every trick in the book and innovate new ones. The know the supply demand dynamic and will maximise it to their benefit. With sale agreed before viewing they are building a database of that demand that is desperate and can be further exploited

Take McWilliams advise and avoid the market until some form of normality returns

Reins

Villa05 wrote: »

Estate agents will use every trick in the book and innovate new ones. The know the supply demand dynamic and will maximise it to their benefit. With sale agreed before viewing they are building a database of that demand that is desperate and can be further exploited

Take McWilliams advise and avoid the market until some form of normality returns

I'd truely love to be able to take McWilliams advice but I can't.

I'm looking to buy without a mortgage meanwhile wasting money on rent as each month ticks by and asking prices are increasing.

Cyrus

zom wrote: »

Can someone please explain me what "Arena-designed kitchens" means?
https://www.daft.ie/for-rent/knockrabo-mount-anville-road-goatstown-dublin-14/2621605

This is assume

https://www.arenakitchens.com/

Villa05

zom wrote:

Can someone please explain me what "Arena-designed kitchens" means?

200p/m extra rent

yagan

Villa05 wrote: »

Estate agents will use every trick in the book and innovate new ones. The know the supply demand dynamic and will maximise it to their benefit. With sale agreed before viewing they are building a database of that demand that is desperate and can be further exploited

Take McWilliams advise and avoid the market until some form of normality returns

For EAs profit from a few maximised pandemic sales won't be much good if their turnover is still way down, and especially if there's lots of failed bids.

The current market is severely distorted and regardless of prices rising or falling it's in the EAs interests that sales happen.

Reins

Reins wrote: »

I'd truely love to be able to take McWilliams advice but I can't.

I'm looking to buy without a mortgage meanwhile wasting money on rent as each month ticks by and asking prices are increasing.

Surely you're in the perfect position to wait? You have cash sitting there, why would you rush to buy now, at the worst time?

Reins

bubblypop wrote: »

Surely you're in the perfect position to wait? You have cash sitting there, why would you rush to buy now, at the worst time?

I have a limited amount of cash and It's not like the market is going down any time soon.

Plus am in an Apt with no outdoor space and with lockdowns I'm starting to crack

RichardAnd

Villa05 wrote: »

Take McWilliams advise and avoid the market until some form of normality returns

In fairness, not everyone can do that. If one has a child on the way or is stuck paying high rent, it wouldn't be feasible to wait.

For my own part, I'm "opting out" for the time being. I'll play the game when it's back to how it used to be.

riclad

prices are going up, law of supply vs demand.
people want to live in houses rather than apartments.you would think an economist would understand that.
people need to live somewhere.
not everyone can work from home.
not everyone has a large spare room to turn into an office.
mcwilliams does not seem to understand basic economics.
and most people do not want to pay rent if they can get a mortgage
at a similar cost per month.
theres a tiny amount of houses for sale right now

is there any reason to think house prices will fall in the near future ?

Villa05

RichardAnd wrote:

In fairness, not everyone can do that. If one has a child on the way or is stuck paying high rent, it wouldn't be feasible to wait.

That's one of the reasons why I call it a bubble. Mania and fear are the same thing when it comes to bubbles

One of the significant contributing factors

DataDude

riclad wrote: »

prices are going up, law of supply vs demand.
people want to live in houses rather than apartments.you would think an economist would understand that.
people need to live somewhere.
not everyone can work from home.
not everyone has a large spare room to turn into an office.
mcwilliams does not seem to understand basic economics.
and most people do not want to pay rent if they can get a mortgage
at a similar cost per month.
theres a tiny amount of houses for sale right now

is there any reason to think house prices will fall in the near future ?

Personally don't think they will fall much anytime soon. But in terms of a reason to think they might -
Because most of those things you've stated above were equally true in 2019 and 2020...and prices were falling.

DataDude

RichardAnd wrote: »

In fairness, not everyone can do that. If one has a child on the way or is stuck paying high rent, it wouldn't be feasible to wait.

For my own part, I'm "opting out" for the time being. I'll play the game when it's back to how it used to be.

Think this is crucial. Supply at record lows - an awful lot of the supply (from my experience) are vacant properties with sellers in absolutely no rush at all, in fact many were pulled last year and are going up again now to try seize on the current dynamics (my family is doing this). Those pushing to buy at the minute are likely the most desperate buyers and in situations like you've described above.

So a higher percentage than normal non-pressured, price maximizing sellers combined with a higher percentage than normal of highly motivated/desperate buyers in the most supply constrained market of all time...

Impossible to know how distorted things could be at the minute. There is no parallel in modern history.

On the plus side - after pretty much 12 months of daily falls in available stock. It seems to have finally bottomed out. Steadied around 11,800 homes a few weeks ago and has actually bounced quite quickly to 12,100 in the last week. Long way to go but hopefully the start of something positive!

Cyrus

this makes the sandymount house posted the other day seem expensive

https://www.myhome.ie/residential/brochure/22-highfield-road-rathgar-dublin-6/4491242

DataDude

Cyrus wrote: »

this makes the sandymount house posted the other day seem expensive

https://www.myhome.ie/residential/brochure/22-highfield-road-rathgar-dublin-6/4491242

Wow, that is beautiful. The one on Gilford Road is actually more impressive in the full pics than it was in the article. Serious site. Would still prefer the one on highfield road though..

https://www.myhome.ie/residential/brochure/28-gilford-road-sandymount-dublin-4-d04-yf77/4493918

awec

DataDude wrote: »

Wow, that is beautiful. The one on Gilford Road is actually more impressive in the full pics than it was in the article. Serious site. Would still prefer the one on highfield road though..

https://www.myhome.ie/residential/brochure/28-gilford-road-sandymount-dublin-4-d04-yf77/4493918

Apart from the room with the red carpet and green seat which looks oddly out of place.

cnocbui

Cyrus wrote: »

this makes the sandymount house posted the other day seem expensive

https://www.myhome.ie/residential/brochure/22-highfield-road-rathgar-dublin-6/4491242

The gaps between the floor boards give me the heebie-jeebies.

Hubertj

DataDude wrote: »

Wow, that is beautiful. The one on Gilford Road is actually more impressive in the full pics than it was in the article. Serious site. Would still prefer the one on highfield road though..

https://www.myhome.ie/residential/brochure/28-gilford-road-sandymount-dublin-4-d04-yf77/4493918

It is a very nice gaff when you see all the pics. Still having difficulty reconciling the price when compared to similar price range gaffs on palmerston Rd, Wellington Rd, rathgar etc...

woejus

Cyrus wrote: »

this makes the sandymount house posted the other day seem expensive

https://www.myhome.ie/residential/brochure/22-highfield-road-rathgar-dublin-6/4491242

Another House & Garden staged gaff with the chairs with rings on the back of them... nice though.

Balluba

Reins wrote: »

I'd truely love to be able to take McWilliams advice but I can't.

I'm looking to buy without a mortgage meanwhile wasting money on rent as each month ticks by and asking prices are increasing.

Many of us are in the same boat Reins and feel your pain.

In terms of year built, when exactly is the period when the quality of built apartments took a nosedive?

2000-2008?

I've heard bad things about sound insulation etc, during a certain period of builds.

JohnnyChimpo

DataDude wrote: »

Personally don't think they will fall much anytime soon. But in terms of a reason to think they might -
Because most of those things you've stated above were equally true in 2019 and 2020...and prices were falling.

You pretty much have to compare specifically relative to 3Q2018 to make that claim, and even then only for Dublin.

Unless you're just totally misreading a % YoY change graph but since you're calling yourself DataDude I'll give you the benefit of the doubt

DataDude

JohnnyChimpo wrote: »

You pretty much have to compare specifically relative to 3Q2018 to make that claim, and even then only for Dublin.

Unless you're just totally misreading a % YoY change graph but since you're calling yourself DataDude I'll give you the benefit of the doubt

Yes, only talking Dublin. Even in nominal terms 2020 prices were a couple %age points below where they got to in 2018. At a stretch you might be able to argue that Q3 2020 was an outlier (personally think it was just continuation of a trend from previous 2 years that just happened to peak then) it was relatively flat in nominal terms over the 3 years pre-COVID (2018-2020).

Given wage inflation was 7%+ over the same period - I think it's pretty factual that house prices were probably falling in nominal terms in Dublin and undeniably falling countrywide in real terms over the period of 2018 - 2020

TheSheriff

RichardAnd wrote: »

In fairness, not everyone can do that. If one has a child on the way or is stuck paying high rent, it wouldn't be feasible to wait.

For my own part, I'm "opting out" for the time being. I'll play the game when it's back to how it used to be.

*If it's back to how it used to be. No guarantees.

RichardAnd

TheSheriff wrote: »

*If it's back to how it used to be. No guarantees.

There are never guarantees, but as I see it, buying now is like playing hazard when you know the dice are loaded.

L1011

Deleted User wrote: »

In terms of year built, when exactly is the period when the quality of built apartments took a nosedive?

2000-2008?

I've heard bad things about sound insulation etc, during a certain period of builds.

It depends on the development and developer - there are plenty of exceptionally poor early 90s ones in Dublin City Centre. Mostly by one developer (Zoe)

Balluba

Cyrus wrote: »

this makes the sandymount house posted the other day seem expensive

https://www.myhome.ie/residential/brochure/22-highfield-road-rathgar-dublin-6/4491242

A beautiful home
It ticks all of my boxes
Sandymount does not

enricoh

Just reading the local paper here and house prices are gone up 12% in louth in the last year.
And as mentioned earlier 12% of 25-40 year olds own their own house nationwide. There's gonna be some pressure on government coffers with people requiring social housing/ hap etc.

You'd think the government would be trying to make housing more affordable but the opposite seems to be the case to me! I don't get it at all tbh.