Many houses for sale in same estate

DoomDaDa

Hi all,

Sale agreed on a property but now there are a lot of houses in this same area for sale.

Safe to say we're now thinking why are all these people selling up.

Should we be worried? Or are we completely over thinking it?

Any and all advice welcomed.

Thanks

Donald Trump

Word might have gotten out about their new future neighbour.

Does your reputation precede you OP?

Damien360

Check for planning permission in the area on county council site. If it's currently a quiet area and now it's going to have a huge housing estate behind/beside it, then that may be the cause.

MacDanger

Any chance there's mica / pyrite problems?

herbalplants

https://www.boards.ie/discussion/2058284930/many-houses-for-sale-in-same-estate

There may the off chance that neighbours didn't know how much they can sell their house for. Once they see how much this house went for on sale agreed, they thought oh this is a decent amount that may never come around on the market.

Don't forget some areas didn't have a house for sale for a long time like 15 years so they never imagine they can get that much for their house.

Princess Calla

There's really no way of telling.

Have you done drive bys at nighttime to see what the local "wildlife" is like?

You could pop into the local garda station ....not sure how much information you would get but you might get a chatty guard.

If the houses are all on the same road , next door to each other or couple doors away from each other I'd be more wary.

That said I live in an area that a good percentage are original owners of the 1960/70's semi-d dream. They are all hitting 70/80/90 at this stage many of them have already buried a spouse so houses are popping up for sale fairly regularly plus then you'll also have people just wanting to move or downsize. So while nothing wrong with the area there is a continuous amount of houses going for sale.

However if it's a relatively new estate and people are moving a couple of years after moving in ...that would be an alarm bell.

Del2005

There are many reasons why suddenly lots of houses are being put up for sale. Drive around the place at different times of the day and night to see if its anti social behaviour.

DoomDaDa

Thanks for the responses.

Hopefully just being over paranoid!..

endofrainbow

Coincidence?

Leg End Reject

If you're comfortable giving more information on the estate you could post in one of the local fora and get more detailed answers.

Dav010

Ban on evictions is due to end in a few weeks, quite possible that a few LLs have given notice and want to sell their properties as soon as possible. This is likely to be repeated countrywide as there is expected to be an avalanche of tenancy terminations in the coming weeks.

walterking

https://www.boards.ie/discussion/comment/120262602#Comment_120262602

I've been hearing of this avalanche for quite a while.

It's the same as the avalanche of repossessions by banks.

Its always spouted by certain type of politician that like to use scaremongering stories to keep control of voters in certain areas.

Funny how it has never ever been borne out by actual real figures.

There may have been a bit of an increase - but absolutely no "avalanche" (seems to be the favourite word used)

Dav010

https://www.boards.ie/discussion/comment/120262627#Comment_120262627

I’m not sure where to start, but I’ll give it a go.

The term “avalanche” does seem appropriate as as it relates to a sudden, massive event, in this case the end of a ban on evictions on a specific date.

Lenders repossess houses in a long, torturous process that involves years of discussions with the owner and court filings. Tenancy terminations on the other hand involves the owner serving notice on a piece of paper to a tenant. While that is no guarantee that the tenant will leave at the end of the notice period, it is however a less arduous process than a repossession. Now, unless you live under a rock Walter, you know that a huge number of LLs are currently leaving the market, and it is a fair assumption that there are a lot who have been unable to as a result of the current ban on evictions. That being said, the ban is due to end next month, ergo, it is also fair to assume that all those LLs who have been prevented from ending tenancies will use the window of opportunity to sell up before a possible change of government, after all SF want a total ban on evictions. So comparing evictions which we all know are happening daily, to the process of repossessions, seems well, unique.

herbalplants

https://www.boards.ie/discussion/comment/120262678#Comment_120262678

I agree.

We never had this events in the rental market before regarding a ban and it doesn't look good for a democratic society. Many landlords had enough and will jump to sell.

So we can never compare this situation with anything previously.

31 March is the end of the ban so we shall see some movement then. If the landlord who have empty properties are looking to sell and be done with this circus.

dontmindme

https://www.boards.ie/discussion/comment/120262826#Comment_120262826

If there's currently little rental stock and it getting even less with landlords leaving the market, and with the current total utilisation of the emergency housing system, where are all these evicted persons to end up on 1st of April?

herbalplants

https://www.boards.ie/discussion/comment/120262850#Comment_120262850

I cannot answer this question.

This situation should have been forseen a while ago.

I would guess some foreign workers may return or move to other countries who offer better living standards. Let's face it paying 1400 eur for a room in a house in Tallaght is hardly good living.

DubCount

https://www.boards.ie/discussion/comment/120262602#Comment_120262602

OP. You can check the RTB register to see if the properties for sale are currently registered as rentals.

John_Rambo

https://www.boards.ie/discussion/comment/120260886#Comment_120260886

^^^ This.

I literally staked out the areas I bought in. Sat in the car for hours, drove by at different times, dropped in to the local Garda station, they were happy to give vague info, I also talked to the firemen (whom I knew) they have a good handle on areas with call outs for everything from drug overdoses to injuries, fire vandalism etc..

The sale boom could be very innocent, all bought at the same time, people upgrading with larger families or indeed all downgrading, cashing in as they get older & move to apartments.

DubCount

https://www.boards.ie/discussion/comment/120262850#Comment_120262850

They'll be staying where they are at the moment. I dont think there is any doubt the eviction ban will be extended. I reckon they will hold off until the last minute to announce it, as that delays any legal challenges etc.

I think the eviction ban will have encouraged landlords that were on the fence to sell up when they next get the opportunity.

The eviction ban was introduced to give the state a bit of breathing space in terms of the homeless figures. You think the state would have worked their socks off during this period to provide some solutions to the housing crisis but here we are a number of months later in exactly the same boat.

dubliner10

Seeing the same case with Clay Farm estate in Leopardstown.

Jafin

Could be nothing. I bought an apartment in September 2021 and prior to that hardly any of them (there are 20 in total) had been sold in the previous ten years. Now a lot of them are being sold. I know most of them were being rented, so could be due to the ban on evictions ending soon as others mentioned. The apartments are in a gated complex and all have their own own door. They're more like duplexes - it's not an apartment block, and the area is very quiet and there is never any trouble, so issues like noise/rowdy neighbours can't be the reason people are suddenly selling. Prices are at an all time high so people could be looking to make a significant profit. For example there is one 3 bedroom apartment that was bought for €48,000 in 2014, and it sold last year for €130,000, so that was quite the bit of profit for the owner.

Donald Trump

https://www.boards.ie/discussion/comment/120264542#Comment_120264542

Are they doing sold with tenants in-situ?

If not, then it is not plausible to attribute it to the "eviction ban".

There are people on here who'd try to attribute a heavy shower of rain to the "eviction ban".

Jafin

https://www.boards.ie/discussion/comment/120265096#Comment_120265096

No clue. I only noted the eviction ban as a possibility, as others had mentioned.

Dav010

https://www.boards.ie/discussion/comment/120265520#Comment_120265520

Don’t take the bait.

Drifter100

https://www.boards.ie/discussion/comment/120265096#Comment_120265096

Doubt that anyone buying a residential property would even consider one with a sitting tenant no matter what

Donald Trump

https://www.boards.ie/discussion/comment/120265520#Comment_120265520

https://www.boards.ie/discussion/comment/120265823#Comment_120265823

That is the point. Posters whinging about houses for sale in February being because of the "eviction ban" when said "eviction ban" would mean that tenants cannot be turfed out for a few months. Not very logical!

Claw Hammer

It could well be the case that units are becoming vacant naturally as a result of tenants vacating voluntarily. Because of the eviction ban, the landlords are simply selling rather than get locked in another tenant.

Donald Trump

It's more likely that any higher numbers are as a result of two things:

1) Renters tax credits meaning non-tax-compliant running for the hills before Revenue start looking.

2) The Central Bank changing its lending rules led to some people hanging on until the New Year came around in the hope of getting more money off the back of that.

The Spider

May not be anything to do with the eviction ban, at all and just people selling their houses I’ve seen a bit of that in my neck of the woods, one house goes up for sale and suddenly 5 follow it, they either see the price advertised and it goes sale agreed quickly, or they panic, another thing not to be underestimated is that some neighbours leaving can spur others to leave as they don’t feel it’ll be the same without them, or there’s a feeling of being left behind, much the same as when a few people quit a job it can cause a lot of others to quit, and most people are always talking about how much they could get for their house behind closed doors.

Finally there’s the old trying to time the market trick people trying to sell up before prices crash, this happened at the last crash, suddenly there were for sale signs everywhere as people tried to get out. Personally don’t think there’ll be a crash supply is too limited I know a few couples who tried this, sold and started renting, cost of rent is astronomical compared to their mortgage and now prices have gotten away from them, they’ve got a lot of regrets

Donald Trump

https://www.boards.ie/discussion/comment/120268119#Comment_120268119

There are still a good few Celtic Tiger holdouts whose heads have been above water for a while now, who are still on tracker mortgages and will have been feeling the pain in the last 12 months.