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Property Market 2019

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    #1862
    beauf
    Closed Accounts Posts: 22,651 ✭✭✭✭beauf


    Marcusm wrote: »
    It’s not the supply or demand for the assets but the consequence of deleveraging in foreign markets. It is a systemic risk where there is a disconnect between the financing and asset situses.

    I'm really only thinking locally. I'm not really aware of how international finance works....

    Do you have a part example of it?


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    #1863
    Sheeps
    Registered Users Posts: 2,762 ✭✭✭Sheeps


    There's a former 3 bed council house in Walkinstown on Daft right now, that has been retrofitted to a tenement and is askking for €700,000. The ad claims an income of €72,000 p/a in rent.

    Poor landlords.


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    #1864
    OwlsZat
    Registered Users Posts: 1,510 ✭✭✭OwlsZat


    Sheeps wrote: »
    There's a former 3 bed council house in Walkinstown on Daft right now, that has been retrofitted to a tenement and is askking for €700,000. The ad claims an income of €72,000 p/a in rent.

    Poor landlords.

    There should be a landlords uncovered like the BBC rouge traders show for people who create and run these properties.


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    #1865
    beauf
    Closed Accounts Posts: 22,651 ✭✭✭✭beauf


    Sheeps wrote: »
    There's a former 3 bed council house in Walkinstown on Daft right now, that has been retrofitted to a tenement and is askking for €700,000. The ad claims an income of €72,000 p/a in rent.

    Poor landlords.

    ... and it's for sale.... I wonder why... and who will buy it...


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    #1866
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,278 Mod ✭✭✭✭The_Conductor


    beauf wrote: »
    ... and it's for sale.... I wonder why... and who will buy it...

    Can't see it being allowed to function in its current incarceration.
    Something doesn't ring true- it just seems too sensational. Maybe I'm being too cynical- but I just don't see how it could be true.


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    #1867
    airportgirl83
    Registered Users Posts: 149 ✭✭airportgirl83


    So would you buy right now or wait? Not in the hurry to buy but curious what people think.


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    #1868
    beauf
    Closed Accounts Posts: 22,651 ✭✭✭✭beauf


    They should be able to provide their accounts to any prospective buyer.. what do you think...?


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    #1869
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,278 Mod ✭✭✭✭The_Conductor


    airportgirl83 wrote: »
    So would you buy right now or wait? Not in the hurry to buy but curious what people think.

    It depends on what your motivation is.
    Prices (esp. in the greater Dublin area) have plateau'ed and aren't rising at abnormal rates any longer.
    The legislative regime is further favouring tenants who rent the whole time.

    If you intend to stay long term in a particular area- and have access to finance- it makes sense to buy.

    If you might want to move elsewhere in the medium term (when you meet a significant other, or have kids- or your circumstances change)- then it makes sense to rent.

    The urge to buy before you get priced out of the market- is largely a thing of the past- prices aren't rising strongly any longer- its more a straight decision- do you see yourself staying in the area long term- or not.

    Forget about any notions of buying now- and flipping it in a few years- if you see yourself needing different accommodation in a few years- either get it now- or don't tie yourself up in knots until you're in a position to do so.

    The whole point of renting- used to be that you did not end up tied to a property long term- you could move about at will. This has been somewhat turned on its head by lack of availability- so people are tending to stay put for increasing lengths of time- but that is not what has historically happened.

    Do you see yourself staying there long term- yea or nay?


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    #1870
    beauf
    Closed Accounts Posts: 22,651 ✭✭✭✭beauf


    People used to buy first houses or apartments with idea they would eventually move somewhere else or upgrade later. This is more difficult now so I would also suggest take a long term view of what you buy.


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    #1871
    OwlsZat
    Registered Users Posts: 1,510 ✭✭✭OwlsZat


    Sheeps wrote: »
    There's a former 3 bed council house in Walkinstown on Daft right now, that has been retrofitted to a tenement and is askking for €700,000. The ad claims an income of €72,000 p/a in rent.

    Poor landlords.

    Please post the link if you still have it.


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    #1872
    Sheeps
    Registered Users Posts: 2,762 ✭✭✭Sheeps


    OwlsZat wrote: »
    Please post the link if you still have it.
    I thought that is against the rules in this particular thread?


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    #1873
    OwlsZat
    Registered Users Posts: 1,510 ✭✭✭OwlsZat


    Sheeps wrote: »
    I thought that is against the rules in this particular thread?

    Oh right. Wasn't aware!


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    #1874
    Sheeps
    Registered Users Posts: 2,762 ✭✭✭Sheeps


    If a moderator gives permission I'll post it, but it's easy enought to find if you search for houses between 650 and 750k in Walkinstown with 9 bedrooms.


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    #1875
    bri007
    Registered Users Posts: 1,375 ✭✭✭bri007


    Just go to daft, search house in Walkinstown, set min price to €600k and click search and it will come up


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    #1876
    OwlsZat
    Registered Users Posts: 1,510 ✭✭✭OwlsZat


    bri007 wrote: »
    Just go to daft, search house in Walkinstown, set min price to €600k and click search and it will come up

    Yikes. We are living history of tenement life and have to suffer the consequences of there being virtually no legal evictions. Yet irony of all ironies we still allow tenement living. <MOD SNIP> Shame on the EA for trying to sell it as is.


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    #1877
    bri007
    Registered Users Posts: 1,375 ✭✭✭bri007


    Yeah it’s a funny set up, wonder if the way the house is currently set up if it is mortgageable or if banks would have difficult issue funds being in separate flats.
    OwlsZat wrote: »
    Yikes. We are living history of tenement life and have to suffer the consequences of there being virtually no legal evictions. Yet irony of all ironies we still allow tenement living. Unhinged mind whoever birthed that crack den. Shane on the EA for trying to sell it as is.


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    #1878
    Cuddlesworth
    Registered Users Posts: 13,980 ✭✭✭✭Cuddlesworth


    bri007 wrote: »
    Yeah it’s a funny set up, wonder if the way the house is currently set up if it is mortgageable or if banks would have difficult issue funds being in separate flats.

    I can't see it having ever met planning guidelines or ever getting retention for that monstrosity of a garden extension.


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    #1879
    cruizer101
    Registered Users Posts: 3,205 ✭✭✭cruizer101


    Its a bizarre one alright, there is no way there could be planning for it there is nothing left of the back garden at all.

    Here is pic from google maps
    480961.JPG
    And another from an angle (if you hold ctrl in maps you can tilt the camera)
    480960.JPG

    It had been asking higher mind, 1.5 million back in 08 apparently
    https://thepropertypin.com/t/35-bunting-road-walkinstown-300k-25/9316
    Less than half the asking from back then, but interestingly the rent roll was the same, I nearly would have thought be more in the current climate.


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    #1880
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,278 Mod ✭✭✭✭The_Conductor


    That, for one, is a property that the local authority *needs* to take action on.
    Frankly- its incredible that its been allowed to remain in its current format (for at least the last 10 years- possibly longer).
    The whole place should be demolished (other than the original house) and returned to its original state.


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    #1881
    lawred2
    Registered Users Posts: 24,271 ✭✭✭✭lawred2


    The_Conductor wrote: »
    That, for one, is a property that the local authority *needs* to take action on.
    Frankly- its incredible that its been allowed to remain in its current format (for at least the last 10 years- possibly longer).
    The whole place should be demolished (other than the original house) and returned to its original state.

    Amazed neighbours haven't reported it - I'd almost be sure that they have. So I'd be surprised if the council weren't aware.

    How could anyone live beside what is effectively nothing short of a slum?


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    #1882
    bluelamp
    Registered Users Posts: 255 ✭✭bluelamp


    Cuddlesworth wrote: »
    I can't see it having ever met planning guidelines or ever getting retention for that monstrosity of a garden extension.

    God forbid there was ever a fire in it

    Edit: Had a good look on google maps, there isn't even a window to escape from in the entire length of the extension.

    Terrifying.


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    #1883
    OwlsZat
    Registered Users Posts: 1,510 ✭✭✭OwlsZat


    OwlsZat wrote: »
    OECD spelling out the current risks. A disorderly Brexit, a change in international corporation tax policy or a relaxing of credit lending rules.

    https://www.irishtimes.com/business/economy/irish-property-market-at-risk-of-new-boom-to-bust-cycle-oecd-warns-1.3899358

    Pascal seeing some changes coming down the tracks. Wondering if these are the tax changes the OECD were referencing.

    https://www.rte.ie/news/business/2019/0523/1051208-donohoe-tax-conference/


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    #1884
    Cuddlesworth
    Registered Users Posts: 13,980 ✭✭✭✭Cuddlesworth


    The_Conductor wrote: »
    That, for one, is a property that the local authority *needs* to take action on.
    Frankly- its incredible that its been allowed to remain in its current format (for at least the last 10 years- possibly longer).
    The whole place should be demolished (other than the original house) and returned to its original state.

    OSI aerial map from 95 has the extensions. Its the type of thing that has been there for so long you would find it difficult to prove when they put it in. I hope nobody buys it though, it would have to be a cash sale for a slum.


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    #1885
    Assetbacked
    Closed Accounts Posts: 2,969 ✭✭✭Assetbacked


    beauf wrote: »
    Only if the rent or the property hold their value.
    If either was to drop significantly then that would have a knock on effect.
    Funds might try to cash out early, if there is better potential somewhere else.

    But I think that unlikely to happen suddenly or in the short term. Because demand and supply isn't likely to radically change overnight.

    I wouldn't be so sure on this. US and Chinese trade war could escalate which would spook the markets big time. Hard Brexit is far more likely now than a few weeks ago given a new referendum is not on the cards.

    All good news for those renting in any event if asset owners are hit, it would certainly help pick up the slack from the past few years.


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    #1886
    tigger123
    Registered Users Posts: 4,441 ✭✭✭tigger123


    https://www.independent.ie/breaking-news/irish-news/388-for-a-bunk-bed-in-a-shower-room-are-young-people-really-excited-about-paying-less-for-less-38140713.html

    Renting for this generation is such a depressing place to be.


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    #1887
    chuchuchu
    Registered Users Posts: 517 ✭✭✭chuchuchu


    tigger123 wrote: »
    https://www.independent.ie/breaking-news/irish-news/388-for-a-bunk-bed-in-a-shower-room-are-young-people-really-excited-about-paying-less-for-less-38140713.html

    Renting for this generation is such a depressing place to be.

    To be honest people living in that type of accommodation would likely be young language students. They probably came here for a short time, to experience the culture. I dont know how you could live in that type of house and hold down a serious job


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    #1888
    devlinio
    Banned (with Prison Access) Posts: 172 ✭✭devlinio


    tigger123 wrote: »
    https://www.independent.ie/breaking-news/irish-news/388-for-a-bunk-bed-in-a-shower-room-are-young-people-really-excited-about-paying-less-for-less-38140713.html

    Renting for this generation is such a depressing place to be.

    If I can avoid renting I will. Absolute swiz


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    #1889
    FutureGuy
    Moderators, Computer Games Moderators Posts: 15,227 Mod ✭✭✭✭FutureGuy


    It's such a nervy time to be looking to buy.


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    #1890
    kippy
    Registered Users Posts: 18,394 ✭✭✭✭kippy


    FutureGuy wrote: »
    It's such a nervy time to be looking to buy.

    Ah, in fairness, when you think about it, it's always a nervy time to buy.


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    #1891
    beaz2018
    Closed Accounts Posts: 173 ✭✭beaz2018


    FutureGuy wrote: »
    It's such a nervy time to be looking to buy.

    If you are looking to buy a place to stay in for a long time - buy. If you are looking to stay in a place for a few years with the intention of then selling - dont buy.


This discussion has been closed.
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