Marius34 wrote: » I believe Daft report was generated at the end of March, where first ones started to reduce price due to Covid. The actual prices on Pre-Covid, we will see in the next CSO report for the month of February transactions. And I expect it to be upward for annual basis. As you can see from previous posts, even for previous sale agreed some people trying to negotiate, or pull out already, before signing contract, thus CSO report for April, will not show a pre-Covid market anymore. This will be the last CSO fully pre-covid. and at some extent CSO March report (in May).
JimmyVik wrote: » You are correct. It is a forum. People duscuss. But heresay in a forum is not proof. Sorry, dont mena to be ragging on you at all. Just saying that we cant cite what a random person on the internet says as proof of anything. And we shouldnt.
Mic 1972 wrote: » The 2.6% drop is Year on Year, as a consequence of Q3 and Q4 consistent decline although prices started to pick up again in Q1 2020 Covid affected the second half of March with a 2.1% drop compared to the first half of the month. Even without Covid there was still going to be a YOY decline
JJJackal wrote: » Look at the sale price on PPR 3 to 6 months ago and compare to the PPR in December next year Asking price drops mean nothing.
pearcider wrote: » Well we know a country can run a 200% debt to gdp ratio as Japan has done it. But can it do 300%? 400? We’re about to find out where the invisible confidence line is.
Hulk Hands wrote: » Heresay posts are by far the most interesting posts on the thread. We can all go look at the housing reports data in the newspapers in 3 months time. People are coming here to have a bit of speculation in a time of uncertainty. Everyone's an adult, they can make their own mind up whether to believe things or not. The butthurt from some everytime someone posts a story or anecdote is tiring
awec wrote: » The "stories" are the problem, the fairy tales. It is tiresome having to constantly separate fact from fiction. It would be exactly the same if we had people claiming they are developers and prices are going up like never before. Or claiming to be EAs and saying they've seen double digit growth the past 2 weeks. Or sellers saying the offers are rolling in and they can't keep up, phone is ringing off the hook. These are anecdotes, but are clearly and obviously bollocks. This is unfortunately the standard we are seeing from a select few. There have been lots of anecdotes (of people getting discounts too) that have had no negative reaction from anyone, because they are entirely believable and grounded in reality.
IndieRoar111 wrote: » So says the most vested person in here on property prices remaining within the status quo. I've noticed you have a lot of time to post now that work has slowed down for EAs.
Idbatterim wrote: » ........... honestly if prices drop substantially, the state could start buying it up for social housing (if prices dropped significantly( Rents should be increased in them though...
awec wrote: » Yea, there was. The impact of Covid on prices won't be seen in this quarter's report either I think. Q2 is likely to show a very small number of transactions, but with relatively small changes in values (single digit % I'd guess). The price drops won't be big because the completions at the start of the quarter are likely to be mostly for houses that went sale agreed pre-covid. Q3 again likely to show significant drops in number of sales, but if we see huge price drops who knows. Beyond that nobody has a notion.
Augeo wrote: » If prices drop substantially there won't be a huge volume of them changing hands. There won't be estates for sale, newbuilds etc.The state will likely have other bills to pay, unfortunately.
Augeo wrote: » If prices drop substantially there won't be a huge volume of them changing hands. There won't be estates for sale, newbuilds etc. The state will likely have other bills to pay, unfortunately.
Idbatterim wrote: » If rents are dropping in dublin now, many may see it as an opportunity to get back here and ditch the bull**** commute, expense of a car potentially etc...
Idbatterim wrote: » how could you see a huge price drop? It can happen, but over a prolonger period of time. anything property related tends to be glacial... prices might go up quicker, but on the way down, they simply kill supply, within reason (the sellers) to stop that... One other key point, the last time , the emigration taps could be openened, hundreds of thousands left the country, which had some pro's and con's. That isnt the case this time! If rents are dropping in dublin now, many may see it as an opportunity to get back here and ditch the bull**** commute, expense of a car potentially etc...
awec wrote: » Housing is a major political issue in Ireland. If another crash happens, it's going to get even worse. It will be at the very top of any future government agenda.
awec wrote: » I don't see huge drops happening. Prices will definitely come down, but not to the extent that some on here are suggesting. The way we build houses in Ireland now is like just-in-time manufacturing. We build the houses when people buy them. If that stops, we stop building them. There will not be a scenario where developers pump out housing developments, driving up supply beyond demand which drives prices down rapidly. As always, if there's a huge price drop it'll be because demand falls through the floor.
Augeo wrote: » Sort of on both sides of multiple fences there........
awec wrote: » Not really, it's not a game like, I'm not going to say "this is exactly what's going to happen". I don't think we'll seehuge drops (but we will absolutely see drops), due to supply issues. But price drops are going to be demand driven as there is no over-supply, so if demand drops a little bit, prices will drop a little bit. If prices drop a lot, it's because demand has dropped a lot. Given that Ireland is currently under-supplied, the extent to which demand would have to drop to cause huge price drops would have to be huge also. That means in this scenario the majority of those who think they'll be picking up a bargain are going to be disappointed. Some people will get a bargain (generally the cash-rich and investors) because most people will not be able to buy.
Augeo wrote: » Yeah, I did say "If prices drop substantially there won't be a huge volume of them changing hands" .........
IndieRoar111 wrote: » This. Listen to this poster guys and think critically about those posting who are in complete denial about this global economic depression causing the property market to tank. These people are either Estate agents and/or sellers who are taking to this place as a last resort as they clearly have vested interests in keeping prices artificially inflated. You will notice they will shame anyone who posts about price reductions currently in the market and anyone who predicts a significant drop and ironically claiming these people have a vested interest lol, well guess what there is no need for prospective buyers to lie about price reductions, the market is about to fall off a cliff and it doesn't take supposed "liars" on boards to convince the general public that the writing is on the wall.
