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Property Market 2019

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Comments

  • Moderators, Society & Culture Moderators Posts: 17,643 Mod ✭✭✭✭Graham


    Nothing at all wrong with it but...

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


  • Registered Users, Registered Users 2 Posts: 14,331 ✭✭✭✭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.


  • Moderators, Society & Culture Moderators Posts: 17,643 Mod ✭✭✭✭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.


  • Registered Users Posts: 1,016 ✭✭✭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.


  • Registered Users, Registered Users 2 Posts: 14,331 ✭✭✭✭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


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  • Registered Users, Registered Users 2 Posts: 20,365 ✭✭✭✭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.


  • Registered Users, Registered Users 2 Posts: 14,331 ✭✭✭✭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.


  • Registered Users, Registered Users 2 Posts: 4,764 ✭✭✭Villa05


    Cyrus wrote:
    The reason it’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.


  • Registered Users, Registered Users 2 Posts: 20,365 ✭✭✭✭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


  • Registered Users, Registered Users 2 Posts: 20,365 ✭✭✭✭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.


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  • Posts: 0 ✭✭✭✭ Riley Strong Bug


    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.


  • Registered Users, Registered Users 2 Posts: 4,194 ✭✭✭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.


  • Registered Users Posts: 3,428 ✭✭✭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.


  • Registered Users Posts: 403 ✭✭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.


  • Registered Users, Registered Users 2 Posts: 3,213 ✭✭✭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


  • Registered Users, Registered Users 2 Posts: 4,462 ✭✭✭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...


  • Closed Accounts Posts: 22,648 ✭✭✭✭beauf


    Perhaps the correct term is market value.


  • Registered Users, Registered Users 2 Posts: 1,517 ✭✭✭OwlsZat


    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.


  • Registered Users, Registered Users 2 Posts: 20,365 ✭✭✭✭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


  • Registered Users, Registered Users 2 Posts: 1,905 ✭✭✭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.


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  • Registered Users Posts: 565 ✭✭✭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.


  • Registered Users Posts: 3,428 ✭✭✭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


  • Registered Users, Registered Users 2 Posts: 20,365 ✭✭✭✭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


  • Registered Users Posts: 3,428 ✭✭✭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


  • Registered Users, Registered Users 2 Posts: 2,763 ✭✭✭Sheeps


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

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


  • Posts: 0 ✭✭✭✭ Riley Strong Bug


    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.


  • Registered Users, Registered Users 2 Posts: 20,365 ✭✭✭✭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.


  • Registered Users, Registered Users 2 Posts: 3,213 ✭✭✭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


  • Registered Users, Registered Users 2 Posts: 20,365 ✭✭✭✭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.


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  • Moderators, Sports Moderators Posts: 10,820 Mod ✭✭✭✭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.


  • Registered Users, Registered Users 2 Posts: 20,365 ✭✭✭✭Cyrus


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

    exactly.


  • Registered Users Posts: 3,428 ✭✭✭ZX7R


    Cyrus wrote: »
    exactly.

    You were the one who said that the other poster didn't NEED a 3 bedroom house and they NEED an apartment.
    As I said who are you to dictate what a person's NEEDS are.
    That is my point


  • Registered Users, Registered Users 2 Posts: 3,213 ✭✭✭Mic 1972


    Cyrus wrote: »
    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.

    For me having spare rooms for family is a need, they don't live in Ireland.
    And I also need extra income because i can't reply solely on my salary in case I lose my job
    On the other hand, for argument sake, if someone can't afford a 3 bed house do they really NEED 2-3 children or can they NEED just one?


  • Registered Users, Registered Users 2 Posts: 9,082 ✭✭✭duffman13


    Mic 1972 wrote: »
    For me having spare rooms for family is a need, they don't live in Ireland.
    And I also need extra income because i can't reply solely on my salary in case I lose my job
    On the other hand, for argument sake, if someone can't afford a 3 bed house do they really NEED 2-3 children or can they NEED just one?

    I think the point is, arguing the housing market is broke because a single person can't buy a 3 bed semi isn't a great argument. The housing market is broken anyway but we in this country have an unhealthy fascination with 3 bed semis, me included unfortunately.

    If buying now in the city as opposed to when I bought, id certainly be looking at a 2 bed apartment or 2 bed mid terrace but it doesn't feature for a lot of people and it really should if that's all you can afford in your desired location


  • Registered Users, Registered Users 2 Posts: 9,082 ✭✭✭duffman13


    Mic 1972 wrote: »
    For me having spare rooms for family is a need, they don't live in Ireland.
    And I also need extra income because i can't reply solely on my salary in case I lose my job
    On the other hand, for argument sake, if someone can't afford a 3 bed house do they really NEED 2-3 children or can they NEED just one?

    I think the point is, arguing the housing market is broke because a single person can't buy a 3 bed semi isn't a great argument. The housing market is broken anyway but we in this country have an unhealthy fascination with 3 bed semis, me included unfortunately.

    If buying now in the city as opposed to when I bought, id certainly be looking at a 2 bed apartment or 2 bed mid terrace but it doesn't feature for a lot of people and it really should if that's all you can afford in your desired location


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  • Closed Accounts Posts: 22,648 ✭✭✭✭beauf


    People have to compromise more due to high prices vs incomes.

    A 3 bed is semi a more versatile building than an apartment. That's the attraction.
    The idea that people should just buy for now, was very common last time around.
    Then people ended up not being able to move on when they needed to.
    So some people buy larger further out, some people smaller closer to center.

    But you can only buy what you can afford. So its all moot anyway.


  • Registered Users, Registered Users 2 Posts: 8,184 ✭✭✭riclad


    Theres a lot of people who bought 1 bed apartments in the boom,
    they cant move on now .
    the apartment may be worth less than the mortgage.The market is broken
    because there is not enough building going on for buyers in the 30k salary range .
    builders are mostly building office,s , hotels, expensive student accomodation .
    In most citys a single person cannot afford to buy a 3 bed house .
    It Depends on where you buy,
    a 3bed house in finglas may be the same price as a 1 bed apartment in the city centre .


  • Registered Users, Registered Users 2 Posts: 20,365 ✭✭✭✭Cyrus


    Mic 1972 wrote: »
    For me having spare rooms for family is a need, they don't live in Ireland.
    And I also need extra income because i can't reply solely on my salary in case I lose my job
    On the other hand, for argument sake, if someone can't afford a 3 bed house do they really NEED 2-3 children or can they NEED just one?

    you need extra income because you bought a more expensive property....

    and if you have 2 or 3 children needs or wants doesnt come into it you cant give them back :rolleyes:


  • Registered Users, Registered Users 2 Posts: 20,365 ✭✭✭✭Cyrus


    ZX7R wrote: »
    You were the one who said that the other poster didn't NEED a 3 bedroom house and they NEED an apartment.
    As I said who are you to dictate what a person's NEEDS are.
    That is my point

    i didnt say they need an apartment? an apartment prefectly meets their needs, but they can stay at home.

    What you need is shelter, which is what they have.

    your point wasnt and still isnt well made.


  • Registered Users, Registered Users 2 Posts: 24,289 ✭✭✭✭Sleepy


    I find the notion that a lot of second hand homes aren't in livable condition farcical tbh. Sure, they might have a low BER rating etc but the previous owners managed to live in them and if you're of house buying age it's a damn near certainty that you were raised in worse. Not everything needs to be done before you move in and most of our housing stock is perfectly liveable with a lick of paint and a good clean. The new kitchen, bathroom, windows etc. can all come when you can afford them.


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  • Registered Users, Registered Users 2 Posts: 2,530 ✭✭✭ECO_Mental


    beauf wrote: »

    The idea that people should just buy for now, was very common last time around.
    Then people ended up not being able to move on when they needed to.
    So some people buy larger further out, some people smaller closer to center.

    But you can only buy what you can afford. So its all moot anyway.


    Only discussed this with someone else last week. A friend of mine was talking to a banking person recently and they said that the property market has changed in that people now buy for their needs for the next 10 years at least. People do not buy houses now thinking that they are going to flip them in 2 or 3 years and move on up. (unless you are a developer and into that sort of thing...)


    People are taking a lot longer over decisions and not rushing into buying places.

    6.1kWp south facing, South of Cork City



  • Registered Users, Registered Users 2 Posts: 120 ✭✭Sparky85


    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.

    Do you know how many 3 beds were launched & sold in the first phase? There does seem to be money out there for new builds like this, in a location like this..... even at that price


  • Closed Accounts Posts: 22,648 ✭✭✭✭beauf


    ECO_Mental wrote: »
    Only discussed this with someone else last week. A friend of mine was talking to a banking person recently and they said that the property market has changed in that people now buy for their needs for the next 10 years at least. People do not buy houses now thinking that they are going to flip them in 2 or 3 years and move on up. (unless you are a developer and into that sort of thing...)

    People are taking a lot longer over decisions and not rushing into buying places.

    I think the banking person was trying to remove themselves from being the cause of the market slowing. People aren't deciding, they are limited by what they can borrow and the high prices and lack of supply.

    I wasn't talking about developers flipping but of home owners out growing the place they are living in.


  • Registered Users, Registered Users 2 Posts: 1,889 ✭✭✭SozBbz


    beauf wrote: »
    I think the banking person was trying to remove themselves from being the cause of the market slowing. People aren't deciding, they are limited by what they can borrow and the high prices and lack of supply.

    I wasn't talking about developers flipping but of home owners out growing the place they are living in.


    With respect, that’s nonsense. The banks aren’t limiting their lending by choice, the central bank is limiting them. The banks would only love to lend more, just listen to them advertising personal loans on the radio left and right. If they could lend on bigger mortgages that would only grow their balance sheets.

    If the banks could lend more, then properties would just be more expensive. The same people who can’t affect afford it now, still won’t be able to, but those who do buy would just be in more debt and bankers would be getting big bonuses again.


  • Closed Accounts Posts: 22,648 ✭✭✭✭beauf


    Limiting the banks is a good thing. Don't get hung up on it. But it has slowed the market. Just when ever you talk to anyone in a bank nothing is ever their fault.

    My point is I don't think the market is slow because people are deciding to take their time.

    People on this and other forums are desperate to buy regardless of any warnings by others. They would over extend in a heart beat.


  • Registered Users, Registered Users 2 Posts: 4,267 ✭✭✭Roberto_gas


    What's with Dublin to be devastated due to storm surge within decades article everywhere ?


  • Registered Users, Registered Users 2 Posts: 2,763 ✭✭✭Sheeps


    What's with Dublin to be devastated due to storm surge within decades article everywhere ?

    were all going to die


  • Moderators, Society & Culture Moderators Posts: 17,643 Mod ✭✭✭✭Graham


    Trying to work out if that's going to cause property prices to rise or fall.

    Smaller population.
    Less construction.
    More waterside properties.

    Hmmmmm


  • Administrators Posts: 54,256 Admin ✭✭✭✭✭awec


    Graham wrote: »
    Trying to work out if that's going to cause property prices to rise or fall.

    Smaller population.
    Less construction.
    More waterside properties.

    Hmmmmm

    "And if you look to your left, you'll see we're at Dublin Castle..."

    1-gondola-privata-30.jpg


  • Registered Users, Registered Users 2 Posts: 13,503 ✭✭✭✭Mad_maxx


    the market will enter a new stage upwards very soon , now is the time to buy , a month ago would have been better

    the economic news globally is much stronger than was the case as recently as five or six weeks ago ,brexit worst case scenario completely off the table now , stock markets are roaring upwards , the stock market today is a reading of the economy in six months


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