Property Market 2019

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.

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.

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.

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.

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 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...

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.

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

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:

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.

Corruptedmorals wrote: »

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

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.

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