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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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Graham

Nothing at all wrong with it but...

If it were easy, it would probably suggest larger problems with the property market.

leahyl

Graham wrote: »

Nothing at all wrong with it but...

If it were easy, it would probably suggest larger problems with the property market.

It just annoys me when people assume that because you’re single you should just buy an apartment. My point is that houses, new builds and second hand, are ridiculously overpriced once again and even though I’m actually in a much better position to buy now, I still can’t, because house prices have skyrocketed again. I’m not gonna be an idiot and blow my deposit on something that I know is overpriced and be left with nothing to put into the house after. An apartment has never appealed to me.

Graham

For most people, buying a property larger than they need is going to be a stretch.

Using a period when properties were selling below construction cost as a benchmark is a little unrealistic to be honest.

JJJackal

leahyl wrote: »

It just annoys me when people assume that because you’re single you should just buy an apartment. My point is that houses, new builds and second hand, are ridiculously overpriced once again and even though I’m actually in a much better position to buy now, I still can’t, because house prices have skyrocketed again. I’m not gonna be an idiot and blow my deposit on something that I know is overpriced and be left with nothing to put into the house after. An apartment has never appealed to me.

A single person is often competing against a dual income couple for the purchase of a house.

While I do not think a single person should buy an apartment necessarily, apartments are typically cheaper than houses.

leahyl

JJJackal wrote: »

A single person is often competing against a dual income couple for the purchase of a house.

While I do not think a single person should buy an apartment necessarily, apartments are typically cheaper than houses.

I understand that, but an apartment is not what I have been saving for. I just don’t want to live in an apartment, and that’s not me being a diva or whatever, but I’ve been saving my ass off for the last 10 years and feel I should at least be able to afford a second hand semi d - doesn’t have to be 3 bed, but there are very few 2 beds in the city suburbs that don’t also need a lot of work.

That’s exactly correct, competing against couples is very disheartening. It can be the case also though that not even couples can afford the particular house, it’s that overpriced.

Anyway, I’m only getting into a rant at this stage now, so I’ll take my leave :-P

Cyrus

leahyl wrote: »

What’s wrong with a single person wanting to buy a 3 bed semi??

Plenty of people buy semi detached houses on their own. During the recession they were going for 230k down here and they were in good condition. Unfortunately at the time I hadn’t a sufficient enough deposit to buy.

I also don’t want to buy an apartment, I want a house. I guess I’ll just have to accept that properties are just overpriced and live at home forever lol.

I’m not saying anything is wrong with it but there’s a reason it’s not affordable for you that’s all.

leahyl

Cyrus wrote: »

I’m not saying anything is wrong with it but there’s a reason it’s not affordable for you that’s all.

Ok, don’t know what that reason is, but thanks for the response.

My friend only recently bought a 3 bed terraced house and is currently doing it all up - it is possible. My brother bought a house on his own a few years back. Both houses are in cork city suburbs.

Everyone’s situation is different. With my deposit, I should be able to buy a 3 bed, but either the supply isn’t there in the second hand houses or they need a lot of work and are overpriced at the same time, or in the case of new houses, they are overpriced.

Villa05

Cyrus wrote:

The reason itâ€™s difficult is because you are trying to buy something aimed at families

May well be easier buy a 3 bed home as a single applicant. A young family will have considerable expenses.

Cyrus

Villa05 wrote: »

May well be easier buy a 3 bed home as a single applicant. A young family will have considerable expenses.

More often it’s 2 earners with no kids yet

Cyrus

leahyl wrote: »

Ok, don’t know what that reason is, but thanks for the response.

My friend only recently bought a 3 bed terraced house and is currently doing it all up - it is possible. My brother bought a house on his own a few years back. Both houses are in cork city suburbs.

Everyone’s situation is different. With my deposit, I should be able to buy a 3 bed, but either the supply isn’t there in the second hand houses or they need a lot of work and are overpriced at the same time, or in the case of new houses, they are overpriced.

How can you say they are overpriced ? If they are selling they aren’t overpriced.

[Deleted User]

Villa05 wrote: »

May well be easier buy a 3 bed home as a single applicant. A young family will have considerable expenses.

But there will be 2x incomes which will increase what you can borrow beyond any expenses.

Corruptedmorals

Barnhall Meadows launched this weekend in Leixlip. All 3 beds sold (wasn't even a show house for them) and all semi-d 4 beds was the word at the show houses today. Prices started at 395 for 3 beds...no terraced they were either end of terrace or semi d. They're really well laid out I'm just surprised how quickly new houses a are getting snapped up at those prices even with HTB.

ZX7R

Cyrus wrote: »

I’m not saying anything is wrong with it but there’s a reason it’s not affordable for you that’s all.

Very narrow minded post really ,did you ever think maybe they are planing for the future family ect.
I was single when i bought my house married now two kids it was the best thing i ever did was ahead of the posy and was not over stretched for money when the family came along.

Reversal

leahyl wrote: »

Ok, don’t know what that reason is, but thanks for the response.

Because the only thing that sets prices of property is the maximum people are willing and able to pay for them. Which is linked to the household income.

Of course houses aimed at families end up settling at a price that normally only a family with two incomes could afford.

There is nothing wrong with 'wanting' a 3 bed house as a single person. But that extra space, or owning a house for the sake of a house, is a luxury, when a apartment would suffice. And that's fine if you can afford it.

But it not the world's fault that family homes are priced at what a family could afford. Nobody is entitled to their dream house.

Mic 1972

leahyl wrote: »

I understand that, but an apartment is not what I have been saving for. I just don’t want to live in an apartment, and that’s not me being a diva or whatever, but I’ve been saving my ass off for the last 10 years and feel I should at least be able to afford a second hand semi d - doesn’t have to be 3 bed, but there are very few 2 beds in the city suburbs that don’t also need a lot of work.

That’s exactly correct, competing against couples is very disheartening. It can be the case also though that not even couples can afford the particular house, it’s that overpriced.

Anyway, I’m only getting into a rant at this stage now, so I’ll take my leave :-P

Keep saving for another year or two and you might be able to buy your 3bed too, i bought a 3bed as a single person, it's not unusual. Once you move in you can rent a room or two, it will help with mortgage payments

PokeHerKing

ZX7R wrote: »

Very narrow minded post really ,did you ever think maybe they are planing for the future family ect.
I was single when i bought my house married now two kids it was the best thing i ever did was ahead of the posy and was not over stretched for money when the family came along.

I'd love a 5 bed in Ranelagh. But because they're overpriced myself and my partner had to buy a 3bed in Tallaght...

beauf

Perhaps the correct term is market value.

OwlsZat

PokeHerKing wrote: »

I'd love a 5 bed in Ranelagh. But because they're overpriced myself and my partner had to buy a 3bed in Tallaght...

You're mixing up over priced and unaffordable. Plesse get the dictionary out before trying to be a smart arse.

Cyrus

ZX7R wrote: »

Very narrow minded post really ,did you ever think maybe they are planing for the future family ect.
I was single when i bought my house married now two kids it was the best thing i ever did was ahead of the posy and was not over stretched for money when the family came along.

Not narrow minded at all

It would be great if everyone could buy a family house as their first home but it’s not possible and it’s not what you need.

Everyone can’t have what everyone wants so makes sense to buy what you need if you can’t afford what you want

fret_wimp2

leahyl wrote: »

I should at least be able to afford a second hand semi d P

Thats erring dangerously close to entitlement!

For years i felt i should be able to afford a semi d in D8/D16/D18 with space for 2 cars, decent back yard and good public transport. It was many years of feeling like the market was against me until i realized that what i want, need and can afford are all very different.

A bit of reassessment and we are super happy now on the north side with a 30 minute commute by public transport. We dont have our full wishlist but we have enough of it to be very happy.

Remember, the market owes you nothing, it is what it is and one accepts what they can afford or betters their circumstance if possible to afford something more to their liking.

leahyl wrote: »

there are very few 2 beds in the city suburbs that don’t also need a lot of work.
P

Unless its a new house, it will most likely need work. if it doesnt, its got brand new plumbing, wiring, modern fitout, it will be priced accordingly as people pay more for the convenience of not having to sort out this work themselves.
This is why many people renovate. Buy somewhere livable and spend a year bringing it up to modern spec. Its not easy, but its the most affordable method.

leahyl wrote: »

or in the case of new houses, they are overpriced.

Ive noticed the opposite. 2nd hand houses needing a lot of work are generally a similar price to new builds in the area, or not so much cheaper to allow for renovation costs to bring a house up to modern spec. To my mind, this would make the new build better value.

theboringfox

In Cork City I think second hand homes needing work selling for similar to when I bought back in 2016. I think the rise in the costs for doing up houses has caused prices to remain down. I think new homes starting to show more value. Least there is certainty to all in cost vs doer upper. Think Cork is stagnant at best.

ZX7R

Cyrus wrote: »

Not narrow minded at all

It would be great if everyone could buy a family house as their first home but it’s not possible and it’s not what you need.

Everyone can’t have what everyone wants so makes sense to buy what you need if you can’t afford what you want

Who are you to say what a person needs are when coming to what home one should buy.

The poster can't afford to buy what they want now but I wish them luck in the future that they get there house they wish for

Cyrus

ZX7R wrote: »

Who are you to say what a person needs are when coming to what home one should buy.

The poster can't afford to buy what they want now but I wish them luck in the future that they get there house they wish for

Alternatively you explain why a person buying on their own needs a 3 bedroom house

ZX7R

Cyrus wrote: »

Alternatively you explain why a person buying on their own needs a 3 bedroom house

Simply if that is what they want to buy let them who knows what plans they have for there future house.
It's definitely not for you to judge

Sheeps

If you had 400k which new build would you buy right now?

1) Dublin Greater Area
2) Outside of Dublin Greater Area

[Deleted User]

Sheeps wrote: »

If you had 400k which new build would you buy right now?

1) Dublin Greater Area
2) Outside of Dublin Greater Area

I'm not sure asking this as an open question is going to be too helpful. For me I would choose to live in Dublin over not living in Dublin for a whole host of reasons.

Cyrus

ZX7R wrote: »

Simply if that is what they want to buy let them who knows what plans they have for there future house.
It's definitely not for you to judge

Who is judging ? I’m not sure what point you are trying to make, you are the one intent on looking into a crystal ball.

The irrefutable fact is that a person buying on their own does not need a 3 bedroom house , they may in the future but they may not and that’s the inherent problem with housing here. Everyone whether they are buying or getting a house from the government wants a family home there is some sort of collective mental block with apartment living it seems.

Anyway the op is entitled to desire what they want but I can’t support someone calling something overpriced just because they want it and they can’t afford it at the moment.

Mic 1972

Cyrus wrote: »

Alternatively you explain why a person buying on their own needs a 3 bedroom house

I bought a 3bed as a single person to have extra rooms for friends and family when they visit and for extra income.
I could afford it so i bought it, nobody is entitled to decide what my irrefutable needs are

Cyrus

Mic 1972 wrote: »

I bought a 3bed as a single person to have extra rooms for friends and family when they visit and for extra income.
I could afford it so i bought it, nobody is entitled to decide what my irrefutable needs are

good for you, but you are missing the point. And you didnt need it, you wanted it.

i dont have any issue with people buying whatever they want if they can afford it. but if someone cant afford it and is lamenting the fact at some stage you have to look at what you need not what you desire.

aloooof

ZX7R wrote: »

Who are you to say what a person needs are when coming to what home one should buy.

The poster can't afford to buy what they want now but I wish them luck in the future that they get there house they wish for

I think you've defeated your own argument. You're confusing needs and wants, which are very different things.