SozBbz wrote: » Some sort of incentive for FTBs to buy 2nd hand homes in need of renovations instead of targeting all incentives at new builds. Lets reinvest in our older stock too.
JimmyVik wrote: » I think that point is huge. We were undersupplied already. supply is not going to increase anytime soon. So the only price pressure can be demand dropping. For demand to drop the economy will be in a bad state altogether.
SozBbz wrote: » - no oversupply of new stock - we were still not building enough to satisfy demand pre covid
lastusername wrote: » The thing about a recession of any kind is that business is still booming for many companies and industries, and people still need a place to live and want to buy. So really I don't think much changes at all and for a variety of reasons I'd expect to see demand get even more intense and rising prices: -Slowdown in supply / construction activity -Even more pent-up demand due to the property market going dormant -More savings in people's bank accounts due to shutdown -More renters will have realised how much they value their home and garden / outdoor space and will have decided they definitely want not only their own home, but also a house vs an apartment. I think the residential property market is a bubble all of its own and there will be still be plenty of competition among those whose jobs and incomes have remained largely unaffected.
Billythekid19 wrote: » I wouldnt cite the example of one 350k house in a leafy suburb in cork city as a guide for current prices either. The bottom line is that half a million people are still on state benefits. We havent reached the tip of the iceberg in terms of job losses, reported today that 100 beauticians let go from sam mccauleys pharmacy today. I have heard of sofware companies in cork city letting go dozens of staff, voxpro and boston scientific have left huge numbers go in recent weeks. I dont see where demand in the general housing market will come from when there is 10% + unemployment by christmas, that along with the projected second wave coming in sept/oct.
bdmc5 wrote: » I thought this comment was sarcastic but seeing further replies it looks like you are serious. Your example is about as far removed as you can get in terms of a guide of property prices in Cork. This would not at all be classed as a desirable area to live and would be a hard sell at any time. We bought afew years ago in Blackrock as FTBs and in last few weeks We just switched our mortgage to another bank to avail of the 2 percent cash back again and house was valued last week at 35k more And now 3 beds are the same price as our 4 beds in our estate and they all sold very quickly. No issue switching with bank. Have family and friends house hunting now and demand for new build and good quality older properties is very strong. They are worried as the uncertainty clears and we accelerate the easing of restrictions the more that pent up demand will hit the market making even more competitive for housing in surburbs.
Villa05 wrote: » The boom is getting boomier I think this stimulus they are talking about is going to be swallowed up by property prices and rents. It will do very little to protect jobs and will lead to the mother of all recessions eventually. We will not be going back to the world that existed in January 2020 for some time. Stimulus now will be wasted, we need to see the shape of the economy in a world that has to live with the virus, brace for a 2nd wave and keep our heads down until a cure/vaccine is found. Post covid Assess the damage, target the eventual stimulus. Let property and rents adjust to the post covid realities We are in for one serious wake up call in the near future
combat14 wrote: » exactly america is already struggling..
bdmc5 wrote: Have family and friends house hunting now and demand for new build and good quality older properties is very strong. They are worried as the uncertainty clears and we accelerate the easing of restrictions the more that pent up demand will hit the market making even more competitive for housing in surburbs.
Billythekid19 wrote: » Proof that the market is taking a tumble. Came across this house built in 2007 and is selling for 135k. You can barley buy a site in a lot of places In cork for that price. Fair enough this address is 50k from cork city but surely ideal for someone wfh or a ftb. https://www.auctioneera.ie/property/18-radharc-na-coille-rathcoole-mallow-cork-p51-y3ek
Hubertj wrote: » Looks like the going rate in that area/estate?https://www.propertypriceregister.ie/website/npsra/PPR/npsra-ppr.nsf/PPR-By-Date&Start=1&Query=%5Bdt_execution_date%5D%3E=01/01/2018%20AND%20%5Bdt_execution_date%5D%3C01/01/2019%20AND%20%5Baddress%5D=*Radharc%20na%20Coille,%20Rathcoole*%20AND%20%5Bdc_county%5D=Cork&County=Cork&Year=2018&StartMonth=01&EndMonth=12&Address=Radharc%20na%20Coille,%20Rathcoole
cnocbui wrote: » I think you are missing the point. I wasn't asking what you 'know' the actual distances to be are, I was trying to convey why I thought what I did from eyeballing the map I was using.
Top Dog wrote: » Don't need to be a crow, you can see from the blue dot where I am
thomasdylan wrote: » There's been a house for sale for at least two years near me that has reduced from an asking of 460k at its peak to 350k now. I went to a viewing there last year out of nosiness more than anything after having lunch in a local pub. The impression I got was the owners were holding out for 450k+. Its not going to happen now anyway. A very small house.https://www.myhome.ie/residential/brochure/22a-bath-street-irishtown-dublin-4/4432537 Pricing in the Beggars Bush, Sandymount, Irshtown area is crazy sometimes. Lots of very high asking prices for poor houses but the decent homes are snapped up and go for well over asking. Friends have been looking to buy around the Bath Avenue area or Sandymount area for a while with a good deposit and not much new is appearing and anything that does come up is jumped on.
cnocbui wrote: » That's Apple Maps for you: Now if you were a crow, what would you say was the nearest?
Top Dog wrote: » 81km to Limerick, 51km to Cork Am I missing something, or do auctioneera have no map links? Just a single satellite image?
smurgen wrote: » So the rents of these new luxury apartments that have sprung up are too high and the proposed fix is to lift the rent cap? This place is funny.
awec wrote: » I reckon that's been bought by one of the adjacent properties.
Marius34 wrote: » Looking at today's BidX1 Auction, seems like all houses up to 500K, got sold in Dublin Co. This one appears to have a heated bidding war, from 260K to 468K.https://bidx1.com/en/en-ie/auction/property/42570 Which can't even be called a house, but rather a piece of land. If I'm not wrong, you can't even build a house with good size garden, as it has less than 100sqm of total land (house + garden combined).
handlemaster wrote: » there were some crazy prices been paid today on Bidx1 , I guess the drop is coming slowly
