Bluefoam wrote: » You should have... Just shows, some people make the right descisions at the right time, others don't. I should have been a millionaire five times over, but I'm not.
Pussyhands wrote: » Considering I was in college at the time, think it would have been impossible.
Bluefoam wrote: » Well then what are you moaning about... ? If I'd invested my 0 money in Apple stocks I's still be broke, WTF...?
Pussyhands wrote: » Can a man not be jealous????
mkdon wrote: » in Dublin are prices down in the month December from November?
Bluefoam wrote: » Word on the street is that there are about 3x more properties on the market now, than this time last year. The market may seem slower, but the buyers are spead over more stock... so the frenzy isn't being felt. Asking prices are down, but that doesn't mean selling prices are. Apartments seem to be in demand, but again, prices are more stable due to availability of stock (possibly due to landlords bailing). If Brexit happens with a deal (as predicted), we could see a much more positive attitute to the economy... if a no deal, there will certainly be short term ramifications, but not necessarily long term. The last recession proved to us that the market generally corrects itself, there are also more protections in place now, so even if we do experience a downturn of some sort, the expectation would be that prices will continue to increase long term. On a more somber note; we have ****ed up the planet, mother nature is going to send some crazy apocolypse style weather & natural occurances & we're all ****ed... We'll be using the first time buyer grant to build shack's at the top of the Sugar Loaf to escape rising water levels.
Sheeps wrote: » Bluefoam wrote: » Word on the street is that there are about 3x more properties on the market now, than this time last year. The market may seem slower, but the buyers are spead over more stock... so the frenzy isn't being felt. Asking prices are down, but that doesn't mean selling prices are. Apartments seem to be in demand, but again, prices are more stable due to availability of stock (possibly due to landlords bailing). If Brexit happens with a deal (as predicted), we could see a much more positive attitute to the economy... if a no deal, there will certainly be short term ramifications, but not necessarily long term. The last recession proved to us that the market generally corrects itself, there are also more protections in place now, so even if we do experience a downturn of some sort, the expectation would be that prices will continue to increase long term. On a more somber note; we have ****ed up the planet, mother nature is going to send some crazy apocolypse style weather & natural occurances & we're all ****ed... We'll be using the first time buyer grant to build shack's at the top of the Sugar Loaf to escape rising water levels. I know you meant that as a joke but I'm literally considering rising sea level when looking for a home.
tobsey wrote: » The main reason proces dropped so much last time was people were over extended, with 100% interest only mortgages on multiple properties, that the banks then closed in on. The owners had no choice but to sell, therefore prices plummeted. The lending rules this time mean that there is much more equity in property so that there is less likely to be a firesale and therefore less likely they will fall dramatically. There might be a small reduction in values, but not at the level seen in the crash. That was the only time in history that houses values dropped at that rate. Even in recessions before then property didn't collapse in the same way. There's no reason to believe it would happen during the next recession.
Nobodysrobots wrote: » Big, fast drops are very rare in the property market even in the worst recession in the State's history, the biggest single year drop was 13.6% in 2012 (open to correction on this). You're assuming these canny investors can call the bottom of the market accurately. What happened during the recession from 2008-2013 was, nobody was buying because if they waited a year they could get a double-digit % discount on the current price. The people who can call the top/bottom of markets accurately are most likely already rich and have information the wider public aren't aware of yet. As an example, I find the behaviour and recent activity by international REITs, pouring billions into the Irish property market at a time of (generally perceived) uncertainty a little suspicious.
Bob24 wrote: » I can definitly confirm that it was no problem to get mortgage approval during the recession if you had decent savings and a full time permanent position with decent salary. Plenty of mid level IT/finance workers in my circle did get approvals and as a matter of fact banks would welcome safe enough borrowers with open arms as they were desperate for more business at higher rates than tracker mortgages. Reduced lending wasn’t really due to banks having more drastic lending criteria compared to nowadays (they didn’t), it was more than less people did meet those criteria. But there was no issue for those who did.
Rex Disgusting Tariff wrote: » Completely agree, I remember friends buying at the depths in 2012.
JohnCleary wrote: » There were better returns than that. I'm aware of one Galway City example - purchased in 2011, sold in 2018 for 3 times the purchase price.... that's the market, I guess!
Pussyhands wrote: » In Dublin region prices are up 94% from their low...
Calltocall wrote: » I’ve been doing a bit of research into the difference between property prices in Dublin at the height of boom to what they are now, roughly what percentage of a difference are we talking?
Mad_maxx wrote: » Getting mortgage approval was extremely hard unless you had at least 30% of a deposit until about 2014
Mad_maxx wrote: » Apartments in ****ty parts of Limerick city could be bought for 30 k several years ago if you bought four or five of them, they are worth about 90k today, not remotely typical, bar back of beyond rural locations or crime ridden urban ones, tripping of prices does not happen
JohnCleary wrote: » I'm not talking about Limerick, as mentioned above i'm talking about Galway City Centre. Solid build, excellent location (city centre), solid management company in place.... issue was that it was 2011 and damn all cash around. Every apartment in the complex (for sale), sold on the day. They were genuine bargains. In the few years alone from purchase to sale, the rent almost paid the purchase price (gross), and then sold for triple (purchase) price a few years later. Each of these units were for sale individually, no bulk purchase necessary. No inside info needed, this was a (very) public auction.
Mad_maxx wrote: » South Dublin is max 10% off
Mad_maxx wrote: » Fair enough but those examples were quite rare and 2011 was not close to the bottom in Galway so it sounds like a quirky day
JohnCleary wrote: » In the example I give, it certainly was the bottom (city centre apartments, with no strings attached). If it weren't the bottom, show me an example of something that has more than tripled it's price since 2011. Quirky day... possibly. But this was an auction that was advertised nationally, certainly took balls (imho) to bid on the day... but those who dared came out winners.
Calltocall wrote: » Cheers & what you put the difference in North Dublin roughly at between peak boom and now?
Mad_maxx wrote: » Clontarf is closer to peak than santry, I'd say 15% in the desirable areas, West Dublin is furthest off, so many apartments in citywest and apartments further off
Glenbhoy wrote: » Rathfarnham, Terenure appear to be circa 65% of peak, anecdotal prices from way back v ppr, so more of a guestimate than anything else.
Glenbhoy wrote: » Rathfarnham, Terenure appear to be circa 65% of peak, anecdotal prices from way back v ppr, so more of a guestimate than anything else. Again property specific, but prices haven't rocketed like elsewhere from the trough, specific estates in my area are about 50-60% up, but transactions at the bottom were minimal. More transactions circa 2014 and prices up by about 30-40% from then.
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