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Property Market 2019

The_Conductor

As is now becoming a custom- we'll start a new thread to discuss all topics as they pertain to the property market in general, alongside people's predictions and experiences- for the year 2019.

Its going to be an interesting year- with Brexit, if it comes to pass, at the end of March- and to misquote Donald Rumsfeld - the unknown unknowns that are likely to jump out at us, when we least expect them to.

2018 thread is now closed.

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Dolbhad

CPTM wrote: »

I'm in the south Dublin market now both as a seller and buyer and can't see any bidding wars. 90% properties are not getting offered the asking price from what I can see.

I think where Dublin leads rest will follow. I’m in Cork and asking prices have shot up a lot since last year. I do think some are well overpriced but then some are getting the asking so maybe we still have yet to hit the peak. Less bidding going on though!

CPTM

Pheonix10 wrote: »

Seems to be slowing down a lot...no bids on places for weeks/months...has anyone had the opposite experience recently?

I'm in the south Dublin market now both as a seller and buyer and can't see any bidding wars. 90% properties are not getting offered the asking price from what I can see.

0gac3yjefb5sv7

Seems to be slowing down a lot...no bids on places for weeks/months...has anyone had the opposite experience recently?

yagan

Sleepy wrote: »

Annecdotal but there's a property on my street that's been on the market for a few months now despite two almost identical places selling within weeks of going on the market last summer. A friend selling around Killester is also finding selling a slower proposition than it would have been 6 months ago.

I'm definitely getting the feeling prices may have peaked and current sellers expectations may be a bit on the high side.

The metric to watch now is the supply.

Sleepy

Annecdotal but there's a property on my street that's been on the market for a few months now despite two almost identical places selling within weeks of going on the market last summer. A friend selling around Killester is also finding selling a slower proposition than it would have been 6 months ago.

I'm definitely getting the feeling prices may have peaked and current sellers expectations may be a bit on the high side.

Graham

Bluefoam wrote: »

I didn't sell anything BTW.

Probably wise

Bluefoam

Graham wrote: »

Mod Note

Keep it civil please folks. Bluefoam, you may want to consider switching to decaf

Point taken... Think I overdid it on the caffeine... I didn't sell anything BTW.

Graham

Mod Note

Keep it civil please folks. Bluefoam, you may want to consider switching to decaf

Bluefoam

Ginger83 wrote: »

We had an electrician doing work for us recently who does alot of work for a Dublin based auctioneer.

According to him the market has been slowing since Nov and continues to slow

So... a random person on the internerd says that an electrician who is doing a bit of work for them, who also does some work for an estate agent, says the market has slowed down... ****ing hell, what a ****ing revelation. I'm selling everything!!!

I met a plumber once who met David McWilliams at a food market in a park on the southside... he says it's the popes kids who fecked it all up!

*for clarity, the plumber, nor the Pope were working for me at the time. David McWilliams may have been doing some odd jobs...

Islander13

Wildly Boaring wrote: »

Yes

Every decent sized steel fixing and shuttering subbie brings in scores of them.

But

Subbies are again fearful to overextend.

You will notice that a lot of the same big boys as the tiger are still building away. BAM, Sisk, Walls, Hegarty....ete....etc

That's because when **** hit fan they just burnt every subbie and supplier they had. Left them out to dry. So why bother getting into bed with them again?

If you're going in with them it is controlled and with as little credit as possible.

There is a serious construction hangover and fear. Once bitten twice shy.

Did Sisks actually not pay their bills? Seems unlikely to me

Roisin76

OwlsZat wrote: »

Are you assuming it will be cheap? I'd have my reservations.

They will be priced accordingly to the current demand and supply levels.

yagan

devlinio wrote: »

That does not equate to the market slowing which is what you originally said.

I'd be interested in what actual sales volumes are doing and if there's a build up in for sale inventory since Dec.

I remember daftwatch being a great site for graphing the for sale stock pileup back in the bubble, anything like that now?

devlinio

Ginger83 wrote: »

He meant buyer type and funding source

That does not equate to the market slowing which is what you originally said.

Ginger83

devlinio wrote: »

The asking prices in Dublin have dropped something like 1% per month this year.

He meant buyer type and funding source

devlinio

Ginger83 wrote: »

We had an electrician doing work for us recently who does alot of work for a Dublin based auctioneer.

According to him the market has been slowing since Nov and continues to slow

The asking prices in Dublin have dropped something like 1% per month this year.

Ginger83

We had an electrician doing work for us recently who does alot of work for a Dublin based auctioneer.

According to him the market has been slowing since Nov and continues to slow

devlinio

cannotlogin wrote: »

Can you find me 5 examples of a decent house for less than €350k in Dublin?

- Safe Area
- Close to Public Transport
- Local amenities
- Good schools nearby
- Walk in condition (as no budget for same)
- 3 bedrooms
- not an apartment
- max 45 min commute to Dublin City Centre

Must meet all of the criteria. It's more difficult than you would think!

https://www.daft.ie/dublin/houses-for-sale/baldoyle/11-red-arches-rd-baldoyle-dublin-2093626/

https://www.daft.ie/dublin/houses-for-sale/raheny/22-grange-park-close-raheny-dublin-1969760/

https://www.daft.ie/dublin/houses-for-sale/baldoyle/21-red-arches-park-the-coast-baldoyle-dublin-2103552/

https://www.daft.ie/dublin/duplexes-for-sale/baldoyle/9-stapolin-house-the-coast-baldoyle-dublin-2109636/

https://www.daft.ie/dublin/houses-for-sale/donaghmede/24-kilfenora-drive-donaghmede-dublin-2103729/

lcwill

cannotlogin wrote: »

Can you find me 5 examples of a decent house for less than €350k in Dublin?

- Safe Area
- Close to Public Transport
- Local amenities
- Good schools nearby
- Walk in condition (as no budget for same)
- 3 bedrooms
- not an apartment
- max 45 min commute to Dublin City Centre

Must meet all of the criteria. It's more difficult than you would think!

Why not an apartment?

[Deleted User]

el Fenomeno wrote: »

From the article:

"Car parking is not required"

So where are people supposed to park then?

It's in Dun Laoghaire. Use public transport. If anyone requires a parking spot then maybe it isn't for them.

el Fenomeno

From the article:

"Car parking is not required"

So where are people supposed to park then?

VonLuck

Deleted User wrote: »

It's pretty dire, in fairness.

There's a market because it'll be all people can afford. It won't be because anyone actually wants to live in a shared floor with 40 other people (ie; a hotel).

I can imagine people coming to Ireland to work would like this kind of environment. Would allow them to potentially build some friendships and avoid isolation which can be a problem.

beauf

Its like student accommodation.

Graham

Most of the purpose-built co-living units have a private kitchenette and and en-suite with larger shared kitchens in the shares spaces.

I'd put it somewhere between a house-share / aparthotel.

[Deleted User]

ontheditch2 wrote: »

I don't know about that. I'm at a different stage in my life now, but when I moved to Dublin 14 years ago, something like this would prove attractive to me. My own bed and quarters without having to house share. Could see a lot of younger people being happy to live there once there are adequate facilities (laundry, cafes, pubs, green space, public transport) in close proximity.

But it is a house share, is it not? It's a hotel setting.

You have your own bedroom, with en-suite. Everything else is shared space? If you want to cook a dinner or whatever, then you're mingling with others?

The only real upside I could see, versus a normal house share, is if the management company have security/cleaners to keep the place right. But you'd invariably end up paying for that anyway.

Graham

OwlsZat wrote: »

Are you assuming it will be cheap? I'd have my reservations.

I very much doubt it will be a budget option, particularly the earlier developments.

Added

UK rates appear to start around £1k/month for longer-term stays including utilities, gym, concierge, laundry facilities, broadband, restaurant, bar.

OwlsZat

Graham wrote: »

It's alway been the case that some people can't afford a 3 bed semi in the burbs. A huge number of people leaving home for the first time start out sharing a house or until relatively recently might have sought out a studio flat.

I probably spent most of my twenties sharing houses/apartments with anything from 1 - 7 other people. Had purpose built co-living spaces been around at the time it would have been quite an appealing option.

Most of the benefits of house share with some of the pain points removed.

Are you assuming it will be cheap? I'd have my reservations.

Graham

Deleted User wrote: »

It's pretty dire, in fairness.

There's a market because it'll be all people can afford. It won't be because anyone actually wants to live in a shared floor with 40 other people (ie; a hotel).

It's alway been the case that some people can't afford a 3 bed semi in the burbs. A huge number of people leaving home for the first time start out sharing a house or until relatively recently might have sought out a studio flat.

I probably spent most of my twenties sharing houses/apartments with anything from 1 - 7 other people. Had purpose built co-living spaces been around at the time it would have been quite an appealing option.

Most of the benefits of house share with some of the pain points removed.

ontheditch2

[Deleted User] wrote: »

It's pretty dire, in fairness.

There's a market because it'll be all people can afford. It won't be because anyone actually wants to live in a shared floor with 40 other people (ie; a hotel).

I don't know about that. I'm at a different stage in my life now, but when I moved to Dublin 14 years ago, something like this would prove attractive to me. My own bed and quarters without having to house share. Could see a lot of younger people being happy to live there once there are adequate facilities (laundry, cafes, pubs, green space, public transport) in close proximity.

[Deleted User]

Bbborris wrote: »

I hope for more of this thinking. There's a definite market for Co- living housing.

https://www.rte.ie/news/ireland/2019/0501/1046753-co-living-housing-application/

It's pretty dire, in fairness.

There's a market because it'll be all people can afford. It won't be because anyone actually wants to live in a shared floor with 40 other people (ie; a hotel).

OwlsZat

Bbborris wrote: »

I hope for more of this thinking. There's a definite market for Co- living housing.

https://www.rte.ie/news/ireland/2019/0501/1046753-co-living-housing-application/

If you create a path to higher yield per sq foot don't be surprised to see every developer go that route. Doesn't actually mean it's going to be any more useful than apartments. Just better returns for the financiers.