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Property Market 2016

castle2012

So any thoughts? With the country's unemployment levels getting lower. Demand is sure to increase. People that would have bought this year but the CB deposit ratio held them back may now well have their deposit.

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The_Conductor

IvoryTower wrote: »

would i be right in saying I would need a 55k deposit and pay 2k a month for 35 years to live in a council house

Yep- thats the a good summation.........

lawred2

IvoryTower wrote: »

would i be right in saying I would need a 55k deposit and pay 2k a month for 35 years to live in a council house

no

you'd need about a 75k deposit as a first time buyer

or

110k if you're not

to live in a council house with views of a gym and a shed

lol

Bob24

IvoryTower wrote: »

would i be right in saying I would need a 55k deposit and pay 2k a month for 35 years to live in a council house

Just keep saying this in you head ;-)

seamus

The_Conductor wrote: »

Its next door to Ringsend- and is in the catchment area for two Deise schools (schools with additional resources for deprived areas.......- I'm not joking.......)

You're paying for an address- purely for an address- and the value of that address I'd argue is questionable.........

This. The value in Sandymount is in the coastal properties with nice views and access to the DART.

The stuff off the beach like this is basically Ringsend/Grand Canal Dock. Have a walk around during the daytime and it's on a par with former council areas in Crumlin/Kimmage.

That is, not awful but a long, long way from €550k.

draiochtanois

This post has been deleted.

OfflerCrocGod

lawred2 wrote: »

3 A rated houses sitting in our estate for 18 months waiting for a buyer... Price hasn't moved a cent.

This is North County Dublin where prices are 'rocketing' apparently

If those houses are to sell - it's only one direction that they will have to go.

Interesting, where is that?

SarahMollie

draiochtanois wrote: »

This post has been deleted.

Yeah thats a bit of an old fashioned snobbery TBH. I went to view an ex council house in Clontarf a few years ago (promptly outbid!) which had been redone by an architect. The location was unreal (2min walk to seafront) and the street was decidedly middleclass. The house itself had been extended really cleverly and tastefully with a stunning kitchen (obviously had an architect involved - not your standard extension).

Bidding went through the roof almost immediately. Went about €50k over asking ultimately.

As the poster above had said, it was well built and had a big back garden. Who cares if it was local authority about 50 years ago.

IvoryTower

draiochtanois wrote: »

This post has been deleted.

id gladly live in a council house but for half a million id sooner expect to be living in a castle

I dont live in dublin though so, yknow

lawred2

SarahMollie wrote: »

Yeah thats a bit of an old fashioned snobbery TBH. I went to view an ex council house in Clontarf a few years ago (promptly outbid!) which had been redone by an architect. The location was unreal (2min walk to seafront) and the street was decidedly middleclass. The house itself had been extended really cleverly and tastefully with a stunning kitchen (obviously had an architect involved - not your standard extension).

Bidding went through the roof almost immediately. Went about €50k over asking ultimately.

As the poster above had said, it was well built and had a big back garden. Who cares if it was local authority about 50 years ago.

But to achieve that finish that you are speaking of - at least another 250k is required (likely more)

By the time you're finished - you're closer to (likely over) 800k and your attached neighbour's house is still a former council house in all it's glory.

How much did the house in 'the Torf' ultimately sell for? Was it semi-detached?

Zzippy

IvoryTower wrote: »

id gladly live in a council house but for half a million id sooner expect to be living in a castle

I dont live in dublin though so, yknow

Are you sure you wouldn't prefer something grander... like, oh I dunno, an ivory tower, perhaps?

Shedite27

draiochtanois wrote: »

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Yeah totally agree. When I was househunting it was one of the biggest snobberies I heard.... "but that's an old council house".

Yeah, and so was half the houses close to Dublin!

Most of the council houses we saw had twice the floorspace and land as the newer houses in 80'3/90's estates

IvoryTower

christ lads id love an old council house, its not snobbery when youre scoffing at it costing 550k, its not even worth close to that

SarahMollie

lawred2 wrote: »

But to achieve that finish that you are speaking of - at least another 250k is required (likely more)

By the time you're finished - you're closer to (likely over) 800k and your attached neighbour's house is still a former council house in all it's glory.

How much did the house in 'the Torf' ultimately sell for? Was it semi-detached?

Yeah of course - as I said earlier thats a fixer upper requiring anything from €50k to €200k depending on what you want to do with it. That whole area will go up though, the location is just too close to town for it not too. Someone will do something similar to the neighboring houses eventually.

The house in Clontarf went for north of €380k having being put on at €330k. anyway but bear in mind that was about 4 years ago, and it was marketed as a 2 bed house as one of the original upstairs bedrooms had been sacrificed in favour of a bathroom. It was in the middle of a small terrace (cul de sac). All seems so cheap now!

Apparently it had previously sold in the high €600's a year or two before the bust.

SarahMollie

IvoryTower wrote: »

christ lads id love an old council house, its not snobbery when youre scoffing at it costing 550k, its not even worth close to that

Value is totally subjective. Its not worth that to you, but likely it will be to someone. Its in a serious location.

lawred2

SarahMollie wrote: »

Yeah of course - as I said earlier thats a fixer upper requiring anything from €50k to €200k depending on what you want to do with it. That whole area will go up though, the location is just too close to town for it not too. Someone will do something similar to the neighboring houses eventually.

The house in Clontarf went for north of €380k having being put on at €330k. anyway but bear in mind that was about 4 years ago, and it was marketed as a 2 bed house as one of the original upstairs bedrooms had been sacrificed in favour of a bathroom. It was in the middle of a small terrace (cul de sac). All seems so cheap now!

Apparently it had previously sold in the high €600's a year or two before the bust.

So the fully finished architect designed renovation went for 380k

Long way shy of 800k there

SarahMollie

lawred2 wrote: »

So the fully finished architect designed renovation went for 380k

Long way shy of 800k there

As I said....

4 years ago - huge difference in prices between 2012 and 2016
smaller house
mid terrace as opposed to corner plot - no room for further extension
different location

I never said they were the same. I was pointing out that a snobbery against ex council houses isn't necessarily justified.

lawred2

SarahMollie wrote: »

As I said....

4 years ago - huge difference in prices between 2012 and 2016
smaller house
mid terrace as opposed to corner plot - no room for further extension
different location

I never said they were the same. I was pointing out that a snobbery against ex council houses isn't necessarily justified.

There is not 100% price difference

There is no snobbery against ex council houses. Just dismay at questionably priced ones.

If someone wants that bargain at 550k then all power to them I suppose.

Shedite27

lawred2 wrote: »

There is no snobbery against ex council houses. Just dismay at questionably priced ones.

If someone wants that bargain at 550k then all power to them I suppose.

If there's no snobbery then people wouldn't have felt the need to include the word "Council house" when they were explaining why they thought it was overvalued. PEople could have said one of the following. Everyone went for the latter

€550k for a 90sqm Semi-d :eek:
€550k for an ex-council house :eek:

lawred2

Shedite27 wrote: »

If there's no snobbery then people wouldn't have felt the need to include the word "Council house" when they were explaining why they thought it was overvalued. PEople could have said one of the following. Everyone went for the latter

€550k for a 90sqm Semi-d :eek:
€550k for an ex-council house :eek:

For me - it would be snobbery if someone thought there was no value to be had in a former council house at any level.

ah I don't care - I'm not going to buy there anyway

SarahMollie

lawred2 wrote: »

There is not 100% price difference

There is no snobbery against ex council houses. Just dismay at questionably priced ones.

If someone wants that bargain at 550k then all power to them I suppose.

Well actually if you read back over the last 2 pages, there were a few people expressing shock at the price based on it being ex-council. If there was no snobbery, then it wouldn't be mentioned. Its not specific to you, I just answered you because you asked further questions on the Clontarf house.

Also, the figure of €800k is one you came up wtih. I'm sure you could spend that but you could also spend less. If you did spend €800k then maybe you'd do a 2 story extension and have maybe a 4/5 bedroom house....then its a totally different prospect. You wouldnt spend €250k on keeping the size and layout the same, with that investment the house would be bigger and better I'm sure.

Alternatively you could spend half that and do something less ambitious. Maybe ground floor extension only and a cosmetic gutting, tart up the outside (get rid of that dower brown colour) and pave the front garden. It could look vastly different for a lot less than €250k on top of the purchase price.

Also I think you're underestimating the cumulative effect of all the factors I've listed previously. It being a corner plot is a huge thing, and Dublin prices were on the floor in 2012, they're not now. Also house has a much bigger front garden which you could pave for off street parking for 2 cars, the Clontarf option only had space for one.

Add to that the Google effect on prices in that area....

Its apples and oranges in every sense except one - that they're both ex-council.

I'm not saying I'd pay it, but simply writing it off as madness and un-understandable, is just a little naive IMO.

SarahMollie

lawred2 wrote: »

For me - it would be snobbery if someone thought there was no value to be had in a former council house at any level.

ah I don't care - I'm not going to buy there anyway

So its only snobbery if its extreme unbridled snobbery? Erm.... no, the fact that its ex-council status was mentioned at all shows the snobbery that exists.

riclad

i know 2 Council estates where all the houses were sold off 20 years ago.
All houses are now owned by ex tenants ,
average owner is 30-40 years of age at least.
When you own a house you will take care of it ,those estates are basically the same as the private estates down the road.
Some councils houses on the corner have large gardens ,
with enough room to build a large extension on.
Which may justify paying 300k plus if its in the right area .
I,ve seen prices in some area,s in dublin go up 100 per cent in the last 3 years .
Low supply of houses is pushing up prices ,in urban area,s ,
near bus, railway or luas .
At some point a council estate changes when theres no more tenants ,
maybe some form of gentrification .
And the councils only role on the estate is planning permits and road maintenance .

Cuddlesworth

There are 3 three bed houses for sale in sandymount, one looking for 100k less and the other two 50k less. And they all are mid terrace with postage sized gardens and no parking past 1 car. You're paying for the land, build a 6 bed and rent it for 10 years to try turn a profit.

SarahMollie

Cuddlesworth wrote: »

There are 3 three bed houses for sale in sandymount, one looking for 100k less and the other two 50k less. And they all are mid terrace with postage sized gardens and no parking past 1 car. You're paying for the land, build a 6 bed and rent it for 10 years to try turn a profit.

Yeah I had a look at them too - the one common factor is very little parking and no/very little room for extension/improvement.

Whoever is selling this has priced it based on what it could be turned into, not on what it is right now.

riclad

Thats market forces ,if you have a house with a large garden in most parts of dublin ,you,ll get a good price for it.in A posh area you,ll pay 200k plus for any house even if it only has a tiny garden with space for 1 or 2 cars .
An investor may pay for the land , and plan to build another house on it.

draiochtanois

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Gandalph

draiochtanois wrote: »

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I think it has a lot of charisma...

for a crack den.

The_Conductor

Gandalph wrote: »

I think it has a lot of charisma...

for a crack den.

We sell 3 bed apartments here in Ireland smaller than this...........

Gandalph

The_Conductor wrote: »

We sell 3 bed apartments here in Ireland smaller than this...........

You make it sound like I don't hail from here

San Frans boom makes ours looks like a teddy bears picnic.

Sierra Oscar

Daft are publishing a Q3 property price report tomorrow, 7.6% average increase in the year to September nationally and 5.3% in Dublin. Seems to be acceleration across the board compared to Q2, but the increase in Dublin is particularly worrying.