Cyrus wrote: » These are asking prices that everyone is referring to not the one decent bit of data we actually have which is the ppr People can ask what they want for a house the only thing that’s important is what they sold it for
awec wrote: » Carrickmines has the Luas. The Luas is better than Dublin Bus.
kevinc565 wrote: » Are people still buying out in Carrickmines? Isn't is faster to get into the city from Ashbourne?
Deleted User wrote: » I'm in the market for a house at the min. I enquired about a particular house a few months ago and the estate agent warned that the seller would not accept even a cent less that the stated price. So I never even bothered viewing it. This house has been on the market for over 2 years and is way over priced already. I'm interested to see what happens now in the coming months to his property.
Reversal wrote: » The main significance of these figures is that they seriously question the notion of sellers riding this out for a year and getting the price they want. Prices have been on the slide since late 2018. The arrogance of “I won’t accept less than I know my house is worth”, has likely cost some 20-30k already.
Villa05 wrote: » That graphic is fairly stark and it blows the property bulls arguments out of the water. High demand areas seeing the biggest falls. Wicklow, Dublin South etc
TheSheriff wrote: » What ????
voluntary wrote: » The transaction reports are garbage. The market is at standstill right now. When the market reopens there will be a GAP on the index chart. No past report can reflect that. We will only see the immediate impact in around 2 months after the trading restarts.
anplaya27 wrote: » Not really. I've viewed and put a deposit on just two days ago.Banks are still operating and solicitors etc are open.
Assetbacked wrote: » Ah I see, it's buried in other reports! One thing that stands out for me is that the figures are based on pre-Covid19 measures which show a 2-5% drop in house asking prices year on year in Dublin.
Reversal wrote: » RTE, the journal and the examiner all carried this report. All focusing on the logistical disruption to the market for viewings etc. Amazing how not one journo picked up the main prediction in the report, that prices are expected to fall significantly.
Assetbacked wrote: » I don't see this reported anywhere in the Irish media. Can someone find it reported in the Indo, IT etc.? I'm curious to see how they try to spin it as they have been referring to price corrections as a" slowdown in growth" to date.
Reversal wrote: » Did anyone post the Ronan Lyons report yesterday?https://www.daft.ie/report?fr=touch Certainly worth a read. Some key takeaways; "These extraordinary real economic consequences will, of course, translate into housing market effects. COVID-19 represents an extraordinary shock to housing demand and we should expect to see significant falls in housing prices - both sale and rental - as the economic effects unwind." "Despite all its complexities, housing is still a case of supply and demand. It is clear that COVID-19 represents a dramatic contraction in demand for owner-occupied properties. Households will be far less likely to enter into a 30-year mortgage contract, for example, if they are unsure what their 3-, 6- and 12-month prospects are for being employed and for what they'll earn. Things may be different for rental properties. Clearly, unemployment will soar - but if government steps in to guarantee incomes and prevent evictions, then there may be far less change in the rental market than on the sales side." And a hint of the trajectory we were already on. Particularly of note for those still insisting we have a gross undersupply. "In Dublin, the annual decline is slightly larger, at 2.6%, similar to the fall seen elsewhere in Leinster. In Connacht-Ulster, prices are still higher than a year ago (by 1.6%). The transition from sharply rising prices in mid-2017 to slightly falling prices by early 2020 was a gradual one and related to ever-improving supply on the market, in particular of newly built family homes in the Greater Dublin Area." Food for thought.
pearcider wrote: » I’m not sure the bit about household debt is actually true. From what I can see in 2019 we were the second most indebted household in Eurozone per capita and adjusted for GDP after the Netherlands who also have a huge property bubble especially in Amsterdam such that their central bank flagged it as the key systemic risk to their banks in 2019. In comparison to Ireland, I think it’s not unfair to say Netherlands probably has a more stable banking system and certainly a more prudent government and broader tax base.https://www.centralbank.ie/news-media/press-releases/press-release-household-debt-continues-to-decline-but-remains-fifth-highest-in-the-eu-23-october-2019https://nltimes.nl/2019/10/15/housing-market-crash-major-risk-says-dutch-central-bank
astrofool wrote: » What's happened this time is the world supply of money is being increased by figures never seen before (2.2trn being added to the US, 300bn to the UK, Europe doing similar). Majority of jobs will come back when isolation ends, however, the money to keep people going during these months will remain, pushing inflation higher. The markets are already escaping to bonds and gold, property is one of the items that remains valuable and more resistant to inflation, so may end seeing an upside after the crisis is over. We will however see the value of the money in people's pockets drop by 10-20% over the next few years, depending what capital controls are put in place.
dor843088 wrote: » Realistically no sale can go ahead until this thing is over even if you wanted to. How can you view , value , survey etc. It would be an utter nightmare. The property market is done until next year at least I'd say. Virtual viewings is a last gasp of despair from EAs. Futile.
Marius34 wrote: » I would think this Summer will be a good time to negotiate 3-5% from the current price, with more option to choose and less biding wars. As long as multinationals corp. stays here, which I believe they will, although would need to follow news on this. I don't believe in property crash with over 20%. Simply because there is lack of property, not many of empty new builds, relatively low number of residential construction, and in overall on a whole scale of a country, today Irish household has way less Loans, and much more in their accounts, than what it was in 2008. In addition to that, for the people who won't loose their jobs, it is much easier to save initial deposit this year, than in any other year.
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