Shane Fleming RE wrote: » Daft report is based on asking prices. not completed sales.
Walnut Salad wrote: » I am hearing a lot of commercial office space will come available in Dublin as companies reduce their required floor space. For example I hear Aviva are giving up 3 floors of their building near Stephens Green. You would have to think that some of that commercial space will be converted to apartments.
Hubertj wrote: » Thank you for clarifying. Does the data provide analysis on data points such as difference between initial asking price and sale price? For exampl, you note a decrease in prices for May. What is driving that - discount on asking prices? Or lower asking prices? Or low volumes driving anomalies?
guyfawkes5 wrote: » Houses also don't depreciate rapidly over time like cars do.
Marius34 wrote: » Yes, M12 (Month 12) is for December. If you filter by Type in dashboard, you'll see particular big difference for new builds, I assume most companies want to complete sale before the end of the year. For December it's around 60% higher for New Builds, and around 20% higher for Second hand.
The_Conductor wrote: » It depends entirely on whether houses are maintained properly or not- the international norm is to depreciate residential property units at a rate of 3.5-4% per annum (which is viewed in some countries such as Germany, as an allowable cost which may be offset against rental income for tax purposes (with an expectation that it will be used to maintain the property- but this is an unvouched cost)). So- it doesn't depreciate rapidly- but it does depreciate.
Donald Trump wrote: » People also want to move into their new houses before Christmas if they can. Christmas holidays and a few days off work to settle in plus an intention to furnish it in the January sales.
cnocbui wrote: » Australians and New Zealanders don't have a concept of house price depreciation. If you tried to explain the idea to them you would likely trigger a severe bout of cognitive dissonance.
In the early 1970s, New Zealand experienced a rapid increase in house prices caused by, among other things, a swift run-up in immigration and a shortage of builders and building materials. Between 1971 and 1974 real house prices increased by 60%. This caused alarm, and the government responded by loosening planning controls to allow more flats to be built in cities. Then the 1973 oil shock hit, net migration turned negative, and the economy entered into a prolonged slide. (Thanks Muldoon!) From 1974 to 1980, house prices fell by around 40% in real terms. By the end of the decade houses were no more valuable than they had been at the start.
tracesnim61 wrote: » The house was purchased in the 90's and was paid off 5 years ago, all of our children have left the house. Our original plan was to sell the house, buy a 2 bed in Dublin and property in Portugal and spend the time between the two locations. My husband thinks we should put it up for 600k and take 580k then purchase the 2 bed for less than 250k. He has spotted a couple of 2 beds that have been on the market for greater than 6 months for 250k and is convinced he will get them cheaper but will pay 250k if needed. His main reasoning for selling now is he doesn't think we will get as much for our house within two years time. We have family we can stay with for a couple of weeks/months while we are in the process of moving.
errlloyd wrote: » I really think the conversation above needs to delineate house value with property value. Property does not depreciate or appreciate from an accounting point of view. But buildings obviously do. Their fixtures and fittings wear out. Structures rot and crumble etc. It is probably hard to find evidence of this looking at residential property because the depreciation in the building is often hidden by increasing value of the land underneath, but it is much easier to find evidence in commercial property.
cudsy1 wrote: » hi all - have followed thread since mid-march. as a result, what im seeing in the cork city and hinterland under 250k market since re opening post covid is coming as no surprise - theres some good opinion on here if you take in all extremes and come towards the middle IMO - can be hard at times wading through non property market speculation, but a small price to pay so, cork peeps - any reasonable/attractive city property (not many around) seems to be easily making asking price, and a bidding war usually on top of that, no change, if anything it seems a bit hotter than pre-covid, pent up demand exceeding pent up supply it seems. loads and loads of rubbish stock, as flagged as a possibility on this thread. hinterland/mid west/south west cork - steadier, lots of viewings on nice properties, but also a few less turn keyish places have no current offers or ones well below asking. also signs of meaty enough price reductions 5-10% since covid cant comment on north county, east county, far west or harbour areas. most of the properties ive enquired about seem to be on the market due to original buyers running into covid problems, or just backing out due to uncertainty. im one of the latter actually. I suppose pent up supply might come onto market now as well, its only been 3 weeks since re opening of the country. hard to say overall though. once pent up bidders are sated, will there be any pent up supply left? other than rubbish... will there be a steadyish new supply of reasonable stock? Only time will tell I suppose, I'd be interested on peoples opinions on this
Empty_Space wrote: » I'm starting to see first signs of a crash. People are realizing the real state of world economy. I expect the more things get back to normal, the more Irish prices will reflect reality and begin to crash. Another wave will delay and worsen impact.
cnocbui wrote: » How much work are you seeing on new home building sites? I was just reading about alarm bells in Vic, Australia, due to a fall in home approvals, the worry being that it will negatively impact the availability of affordable housing. In other words, reduced supply leads to price rises.
Villa05 wrote: » Helpful post!
Villa05 wrote: » A number of factors to consider WFH will require more rooms in a house and may increase demand and price for large house although this may be less pronounced in Dublin as you are close to work Further credit tightening by banks may lead to an increased deposit required for an apartment, this may lead to a fall in apartment prices as pool of buyers reduces Commercial property owners expected to suffer in the Post covid World, many are large institutions with multiple residential and commercial units. They may start offloading some of there residential units to raise cash. Increased supply may reduce price My uncle did something similar as result of the bedroom tax in the UK. He says it was the 2nd best thing he has done in his life. Improved quality of life substantially Important If you are buying and selling at the same time, avoid using the same estate agent for both
Computer Science Student wrote: » Does anyone have experience with using bidx1 for public auctions?
