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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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Cyrus

aloooof wrote: »

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

exactly.

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

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?

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

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?

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.

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 .

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:

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.

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.

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.

Sparky85

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

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.

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.

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.

Roberto_gas

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

Sheeps

Roberto_gas wrote: »

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

were all going to die

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

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..."

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

dor843088

Mad_maxx wrote: »

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

Calm down there chief. Stock market rallied after the fed cut rates. Knee jerk much ? Stock market went tits up in the dot com bubble and irish property didnt blink.

Mad_maxx

dor843088 wrote: »

Calm down there chief. Stock market rallied after the fed cut rates. Knee jerk much ? Stock market went tits up in the dot com bubble and irish property didnt blink.

what has the dot com bubble got to do with now ?

valuations were about 50% higher in 2000

the U.S economy is the barometer for our own , the eurozone economy has been at best pedestrian since 2012 , its irrelevant to us . america is booming so we are

Eric Cartman

dor843088 wrote: »

Calm down there chief. Stock market rallied after the fed cut rates. Knee jerk much ? Stock market went tits up in the dot com bubble and irish property didnt blink.

last time we didnt have literally thousands of people living in dublin city who's only connection to dublin is working in the offices of american internet companies who have yet to turn a profit for the most part. When their credit bubble runs out you'll see a wobble and a half.

Mad_maxx

Eric Cartman wrote: »

last time we didnt have literally thousands of people living in dublin city who's only connection to dublin is working in the offices of american internet companies who have yet to turn a profit for the most part. When their credit bubble runs out you'll see a wobble and a half.

he might as well bring up the dutch tulip bubble for all the relevance it has

Cuddlesworth

Sleepy wrote: »

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.

I think people are finally starting to look at the long term ownership costs and devaluing second hand properties with zero modernisation accordingly.

An Ri rua

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

A rising tide lifts all boats don't ya know.

Rev her up Paschal !!

riclad

This was discussed on the Newstalk ,yesterday,
if theres any new building near the coast of dublin, they have to be designed to account for 3ft approx rise in sea level .

[Deleted User]

Eric Cartman wrote: »

last time we didnt have literally thousands of people living in dublin city who's only connection to dublin is working in the offices of american internet companies who have yet to turn a profit for the most part. When their credit bubble runs out you'll see a wobble and a half.

Is this true? Doesn't really feel like it is, the big employers are the likes of Google, Facebook, Microsoft, LinkedIn, Amazon, SAP, IBM etc.

riclad

Google, facebook, amazon, make massive profits .
i,d be more concerned about building companys depending on the city council to sell new house,s
It shows demand is slowing down ,
or people are afraid to commit to buying a house, as no one really knows
how much brexit will effect the irish economy .
Will exports to the uk fall ,by how much .
will tourism from the uk decline. No one knows .

Sleepy

Cuddlesworth wrote: »

I think people are finally starting to look at the long term ownership costs and devaluing second hand properties with zero modernisation accordingly.

I don't necessarily disagree but I think the current price differential between new A rated houses and older homes in the same area that would benefit from modernisation doesn't currently match the cost of the work needed to bring the older home up to that standard.

The thing I question is the notion that those older homes are "unlivable". I think a lot of first time buyers are being a little unrealistic in their expectation to move into a perfect A rated home in the area they want it and being able to decorate and furnish it exactly as they want to on day one.

All but the wealthiest of us have to make some compromises when buying our first (or even subsequent) home and, to us at least, having higher energy bills and decor that might not be our second (let alone first) choice for the first few years of living in that home was an acceptable compromise to make in order to buy a home in a location we like and to get out of the rental market. Sure, it'll take us the best part of a decade to turn it into the house we want it to be and would no doubt have been cheaper if we could have gotten all the work done up front but you have to cut your cloth to your measure and, in the real world, it's often the case that only the wealthiest can afford to get the best value for money (e.g. those who can buy a house for cash will ultimately pay far less for it than those of us who have to service a mortgage for 30 years to do so).