alan_mur wrote: » Unfortunately there was no price drops. DNG wiped out the history on these properties so you can't see what date they were first listed. If you want to see, do a search on twitter for the property, you should find the starting price and when they were first listed.
Augeo wrote: » Folk were of the view demand wouldn't fall as those effected weren't house buyer types etc etc. Poorly paid retail workers....
schmittel wrote: » I got a flood of daft alerts this week so googled address of one at random: 1 Ormonde Terrace, Dalkey - new listing on 16/04/2020 - £699,950https://www.daft.ie/dublin/houses-for-sale/dalkey/1-ormond-terrace-sorrento-road-dalkey-dublin-2475503/ First result in google links to page on daft saying "1 Ormond Terrace, Sorrento Road, Dalkey, South Co. Dublin. This property has been either sold or withdrawn from Daft.ie, here are some similar properties in the area." Google cache of that page "as it appeared on 12 Apr 2020 06:24:51 GMT" has the house listed as sale agreed with an asking price of £724,950, page indicates house went sale agreed in January. http://tiny.cc/nwv9mz These mass relistings may well be masking sale agreeds falling through as well as price drops.
eagle eye wrote: » Is this meant to be a joke because it doesn't appear that way and the 50% suggestion sounds ludicrous nevermind the 185.
awec wrote: » Roughly a 3% drop, though 25k off a 725k house is not much to write home about. While it's still way too early to tell, it certainly seems in line with the relatively glacial pace of property price changes.
Brianmwalker wrote: » How do you get the old cache page?
Hubertj wrote: » I thought that people were arguing that demand will fall and prices with it but because there is such a shortage of units this will reduce the severity of the reductions? Then someone posted link to CSPO report about there being 200k empty houses and that it is all a lie an there is no shortage of units. Then others poohed on the CSO report? My question is what does a “significant” mean in terms of a drop in prices? Is 15% significant? How long did it take for prices to increase 15%? 2 or 3 years?
awec wrote: » lOf course if demand didn't fall at all prices wouldn't fall, that would be nonsensical as it would just be a continuation of the market as it is today.
Reversal wrote: » Yet, here on boards, John and Mary who recently bought a new build off plans at 90% LTV cannot fathom how prices can fall, because "people still need somewhere to live"
awec wrote: » I think you’re having an argument with yourself at this stage. Who thinks prices can’t fall?
Augeo wrote: » Except some experts on here.
awec wrote: » Really? I don’t think I’ve seen anyone on here suggest prices can’t fall or come down?
awec wrote: » I can't find the stats but I think a 15% drop would maybe knock 2 or 3 years off prices? So you'd be buying at 2018 prices? Someone will correct me if I'm wrong I am sure.
houses in South Dublin are currently at the same price as approx Sep 18 houses in DLR are currently at the same price as Dec 17 houses in Fingal are higher than anytime since '10 onwards
Hubertj wrote: My question is what does a “significant†mean in terms of a drop in prices? Is 15% significant? How long did it take for prices to increase 15%? 2 or 3 years?
Villa05 wrote: » I don't think it is unrealistic to see a 15% drop. A big part of the increases in price was the exemptions to the cb rules and that appears to be neutral in the Dublin market as of February figures. If as expected they are gone for a while, that on its own will see a significant reduction Add in the expected unemployment and wage cuts. I can't see how we are going to come out of this without tax rising despite the promises
Spring Celebrator wrote: Can we expect to see drop in prices at new build houses that are already on the market?
Spring Celebrator wrote: » Can we expect to see drop in prices at new build houses that are already on the market?
Graham wrote: » Many of those houses were pre-sold before the foundations were laid. I expect some will return to the market as the original buyers will not be in a position to complete.
Spring Celebrator wrote: » I meant new development, not pre owned sorry for the confusion.
awec wrote: » So does Graham. Most new builds in Ireland these days are sold before the house is actually built. Lower risk for developers as it decreases the chance significantly of them being left with a lot of houses that they lose money on.
Bigmac1euro wrote: » Most??? Is this actually true?
jrosen wrote: There was a lot of new builds during the last recession that sat idle. Builders not prepared to sell at a loss so they waited it out. I would imagine we may see this again, especially with builders who are financially sound. They will have no need to take a hit on a new build and will simply close off and wait.
eagle eye wrote: » Is there any good place the read up on projections for the rest of 2020 as regards what way house prices will go? I really need some good advice on the matter urgently. Alternatively who would you ask? Auctioneer, accountant or somebody to n the financial industry?
The upcoming general election here is another possible fly in the ointment, with the potential for some politician or other to utter a throwaway comment on the housing crisis that could spook the market.
Villa05 wrote: » It was not "they waited it out", rather bailed out. That won't happen this time. Another thing to note, banks can't be bailed out either, it must be a bail in before any support happens
Spring Celebrator wrote: » So I guess asking for a 5% reduction in price atm woudn't be too cheeky (price is around 250k). I imagine they rather sell the house slightly cheaper than sit on it. btw 2 houses that we were considering to buy are back on the market (from sale agreed).
jrosen wrote: » Builders are also playing the long game this time round, often builder smaller phases before moving to the next. Leaving them less financially exposed.
