Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Irish Property Market 2020 Part 2

Options
1…2728303233…339

Comments

  • Options
    #872
    The_Brood
    Closed Accounts Posts: 838 ✭✭✭The_Brood


    Was seemingly close to having an offer accepted, then investor came in with straight up cash and delivered the knockout blow.

    It seems that everything is stacked against first time buyers.


  • Options
    #873
    ElBastardo1
    Registered Users Posts: 306 ✭✭ElBastardo1


    The_Brood wrote: »
    Was seemingly close to having an offer accepted, then investor came in with straight up cash and delivered the knockout blow.

    It seems that everything is stacked against first time buyers.

    That's ****e. very tough on you.


  • Options
    #874
    Cantstandsya
    Registered Users Posts: 737 ✭✭✭Cantstandsya


    awec wrote: »
    Amazon announced yesterday they are building a new building in D2 and creating another 1000 jobs here.

    The post-covid world is not going to be as straightforward as you think.


    That the post covid world will feature a booming Amazon is hardly any surprise to anyone considering the pandemic gives it a monopoly on a lot of people's spending.


  • Options
    #875
    Graham
    Moderators, Society & Culture Moderators Posts: 17,642 Mod ✭✭✭✭Graham


    Cantstandsya wrote: »
    https://www.independent.ie/business/personal-finance/property-mortgages/house-prices-rose-slightly-in-may-despite-lockdown-limiting-sales-39372057.html


    "The survey shows demand for loans for house purchase and consumer lending fell at the fastest rate in the history of the series and is the first marked decline in demand since the last quarter of 2011."

    Thanks, interesting reading the Bank Lending Survey which I assume the article was based around.


  • Options
    #876
    Cantstandsya
    Registered Users Posts: 737 ✭✭✭Cantstandsya


    Graham wrote: »
    Thanks, interesting reading the Bank Lending Survey which I assume the article was based around.

    Thanks for that.

    Interesting that not only did demand fall at a record fell, it fell literally as far as it possibly can on these measures.

    So they expect demand to go up in Q3 but restrictions to tighten even further.

    Any idea when these are published? The next one will be interesting reading.


  • Advertisement
  • Options
    #877
    MacronvFrugals
    Registered Users Posts: 1,017 ✭✭✭MacronvFrugals


    Our company went on 10% pay cut in June and July and August fully restored as business had hit pre Covid levels we're in a niche IT consulting sector its anecdotal but interesting for anyone following, i know some of my friends companies also in IT have did different things like put offices up for sale and move 100% WFH to weather this storm.

    With supply so low whats the likelihood of institutional investors hoovering up stock.

    No doubt they'd love to offload long term contracts to the gov for social housing, in saying that i have seen quite a few IRES sites trying to sell apartment but as lots of these are HAP im thinking they're somewhat shielded.


  • Options
    #878
    Hubertj
    Registered Users Posts: 2,000 ✭✭✭Hubertj


    Cantstandsya wrote: »
    That the post covid world will feature a booming Amazon is hardly any surprise to anyone considering the pandemic gives it a monopoly on a lot of people's spending.

    its nearly all AWS and not their market place. Also data centres and a wind farm.


  • Options
    #879
    SozBbz
    Registered Users Posts: 1,889 ✭✭✭SozBbz


    Cantstandsya wrote: »
    That the post covid world will feature a booming Amazon is hardly any surprise to anyone considering the pandemic gives it a monopoly on a lot of people's spending.

    AWS is not the same as Amazons online retail business. Its a separate entity and the jobs here will be nothing to do with Amazons retail model.

    AWS is cloud computing. THey're building data centers and wind farms to power said data centers. This is big for AWS, first time they've done it on this scale outside of the US.

    Its actually quite significant for Ireland.


  • Options
    #880
    Cantstandsya
    Registered Users Posts: 737 ✭✭✭Cantstandsya


    SozBbz wrote: »
    AWS is not the same as Amazons online retail business. Its a separate entity and the jobs here will be nothing to do with Amazons retail model.

    AWS is cloud computing. THey're building data centers and wind farms to power said data centers. This is big for AWS, first time they've done it on this scale outside of the US.

    Its actually quite significant for Ireland.


    Fair enough and excuse my ignorance.

    Is it illustrative of the current economic climate though?


  • Options
    #881
    Graham
    Moderators, Society & Culture Moderators Posts: 17,642 Mod ✭✭✭✭Graham


    Cantstandsya wrote: »
    Thanks for that.

    Interesting that not only did demand fall at a record fell, it fell literally as far as it possibly can on these measures.

    So they expect demand to go up in Q3 but restrictions to tighten even further.

    Any idea when these are published? The next one will be interesting reading.

    Quarterly so I'd expect mid-October for the next one.


  • Advertisement
  • Options
    #882
    SozBbz
    Registered Users Posts: 1,889 ✭✭✭SozBbz


    Cantstandsya wrote: »
    Fair enough and excuse my ignorance.

    Is it illustrative of the current economic climate though?

    Well, economies never stand still, and personally I think its good to see jobs that are all about new technologies, rather than trying to support ailing industries that are going to fail ultimately. They're high quality jobs, likely well paid and about as futureproof as jobs can be these days. Its good that Ireland is attracting this type of investment in this climate.

    Does it say anything about job losses in other industries such as hospitality and aviation? Nope. Those industries will have to recover once the threat of Covid has passed. They'll be very different I'm sure.


  • Options
    #883
    Astro127
    Banned (with Prison Access) Posts: 32 ✭Astro127


    Hi so what would everyone prefer to do pros and cons

    1 buy a new build
    2 buy old and renovate
    3 build


  • Options
    #884
    fliball123
    Registered Users Posts: 7,445 ✭✭✭fliball123


    Astro127 wrote: »
    Hi so what would everyone prefer to do pros and cons

    1 buy a new build
    2 buy old and renovate
    3 build


    All depends on where you are in your life

    young couple looking to get your foot on the ladder new build
    Older couple looking for a home you wont move from build


  • Options
    #885
    cubatahavana
    Registered Users Posts: 990 ✭✭✭cubatahavana


    Astro127 wrote: »
    Hi so what would everyone prefer to do pros and cons

    1 buy a new build
    2 buy old and renovate
    3 build

    For us, both working in Dublin, building is not really feasible without commuting for a long time (we don't want that). As well, with a 2 year old, we are not in the mood for renovating anything, so unless a 4 bedroom home magically appears with good enough standards for us (nothing so far), new build it is. I find very appealing to live in a new place, and with all the new regulations regarding energy savings and insulation, it will be a warm and cozy home. We are waiting for the builder to give us the go ahead to place a deposit on a new build at the moment and couldn't be happier


  • Options
    #886
    Astro127
    Banned (with Prison Access) Posts: 32 ✭Astro127


    fliball123 wrote: »
    All depends on where you are in your life

    young couple looking to get your foot on the ladder new build
    Older couple looking for a home you wont move from build


    Good point.

    I'm just saying in general , what is everyone In here doing or would like to do .


  • Options
    #887
    Iceman29
    Site Banned Posts: 149 ✭✭Iceman29


    awec wrote: »
    Amazon announced yesterday they are building a new building in D2 and creating another 1000 jobs here.

    The post-covid world is not going to be as straightforward as you think.

    Amazon aren't your average company in fairness.... they were probably the biggest beneficiary of this whole mess.... i know myself i ordered much more from them during lock-down than i normally would have. Just seeing now that more than 200 jobs are gone down in Kerry at BorgWarner.

    I would put money on it that there are much more BorgWarner's out there than Amazons.....time will tell


  • Options
    #888
    TheSheriff
    Registered Users Posts: 1,108 ✭✭✭TheSheriff


    Iceman29 wrote: »
    Amazon aren't your average company in fairness.... they were probably the biggest beneficiary of this whole mess.... i know myself i ordered much more from them during lock-down than i normally would have. Just seeing now that more than 200 jobs are gone down in Kerry at BorgWarner.

    I would put money on it that there are much more BorgWarner's out there than Amazons.....time will tell

    But whats the average salary of an employee in Amazon versus that of BorgWarner?

    No doubt there'll be more job losses, but the amazon announcement is a BIG deal for Ireland.

    Alot of Tech does seem to be doing very well in all of this.


  • Options
    #889
    TheSheriff
    Registered Users Posts: 1,108 ✭✭✭TheSheriff


    This is another property we have been following.
    https://www.auctioneera.ie/property/33-castleknock-avenue-laurel-lodge-castleknock-dublin-d15-pp82

    Bidding started yesterday, already at asking.

    We've seen nothing but houses going over asking in the Castleknock/Coolmine areas. Have been following this market for near on a year.

    No sign of any slow downs (yet).


  • Options
    #890
    Iceman29
    Site Banned Posts: 149 ✭✭Iceman29


    TheSheriff wrote: »
    But whats the average salary of an employee in Amazon versus that of BorgWarner?

    No doubt there'll be more job losses, but the amazon announcement is a BIG deal for Ireland.

    Alot of Tech does seem to be doing very well in all of this.

    Average salary means nothing in this case, lets say you have 1000 new workers on big salaries looking to buy. They buy 1000 houses and you have 3000 made redundant that were also looking to buy that's a net loss of 2000 buyers on the market..... what happens to house prices? they fall.....


  • Options
    #891
    Thierry12
    Closed Accounts Posts: 979 ✭✭✭Thierry12


    TheSheriff wrote: »
    This is another property we have been following.
    https://www.auctioneera.ie/property/33-castleknock-avenue-laurel-lodge-castleknock-dublin-d15-pp82

    Bidding started yesterday, already at asking.

    We've seen nothing but houses going over asking in the Castleknock/Coolmine areas. Have been following this market for near on a year.

    No sign of any slow downs (yet).

    Nice house, looks much bigger than 1000sqft


  • Advertisement
  • Options
    #892
    Thierry12
    Closed Accounts Posts: 979 ✭✭✭Thierry12


    TheSheriff wrote: »
    This is another property we have been following.
    https://www.auctioneera.ie/property/33-castleknock-avenue-laurel-lodge-castleknock-dublin-d15-pp82

    Bidding started yesterday, already at asking.

    We've seen nothing but houses going over asking in the Castleknock/Coolmine areas. Have been following this market for near on a year.

    No sign of any slow downs (yet).

    That site is an eye opener

    https://www.auctioneera.ie/property/47-gulistan-cottages-rathmines-dublin-d06-e6c9

    Already at 485k

    My garage is bigger and that only cost me 20k :pac:


  • Options
    #893
    TheSheriff
    Registered Users Posts: 1,108 ✭✭✭TheSheriff


    Iceman29 wrote: »
    Average salary means nothing in this case, lets say you have 1000 new workers on big salaries looking to buy. They buy 1000 houses and you have 3000 made redundant that were also looking to buy that's a net loss of 2000 buyers on the market..... what happens to house prices? they fall.....

    Salary would mean nothing if you have enough houses for everyone.

    You don't.

    You have that 1000 employees competing for a limited supply of houses.

    Those 1000 employees have higher average salaries that your company in Kerry (assumption).

    What happens to prices?

    They go up.


  • Options
    #894
    TheSheriff
    Registered Users Posts: 1,108 ✭✭✭TheSheriff


    Thierry12 wrote: »
    Nice house, looks much bigger than 1000sqft

    Yup, very nice house.

    All houses in the area are generally 100 sqft; location location location and all that! Close to the train, close the Phoenix park etc.


  • Options
    #895
    awec
    Administrators Posts: 53,556 Admin ✭✭✭✭✭awec


    Yea that house in Castleknock is really nice.


  • Options
    #896
    Assetbacked
    Closed Accounts Posts: 2,969 ✭✭✭Assetbacked


    Cantstandsya wrote: »
    That the post covid world will feature a booming Amazon is hardly any surprise to anyone considering the pandemic gives it a monopoly on a lot of people's spending.

    The tentacles of regulation in the US are hopefully going to start off the chain of events which ultimately breaks up Amazon and the others. Tomorrow there is a hearing with the main heads of Amazon, Google, Apple and Amazon on their abuse of dominant positions. In Ireland it's funny, we have such a cute hoor attitude that "sure it's a great little country to do business in, these tech jobs are great" but there is not really the same discourse regarding the negatives of these companies becoming so big, e.g. eroding democracy, stifling competition etc.

    In any event, there is an argument to say the regulators cannot keep up with the private sector and its practices so it is not likely anything major will happen anytime soon. I've decided to buy Ires REIT shares (predominantly in the residential sector as opposed to Hibernia who predominantly operate in the commercial sector) today on a short-term horizon (6-12 months) as I feel these types of job losses combined with a muted supply of new builds in the near term will increase sentiment towards there being a rental crisis and therefore a demand for rentals.


  • Options
    #897
    Hubertj
    Registered Users Posts: 2,000 ✭✭✭Hubertj


    Assetbacked wrote: »
    The tentacles of regulation in the US are hopefully going to start off the chain of events which ultimately breaks up Amazon and the others. Tomorrow there is a hearing with the main heads of Amazon, Google, Apple and Amazon on their abuse of dominant positions. In Ireland it's funny, we have such a cute hoor attitude that "sure it's a great little country to do business in, these tech jobs are great" but there is not really the same discourse regarding the negatives of these companies becoming so big, e.g. eroding democracy, stifling competition etc.

    In any event, there is an argument to say the regulators cannot keep up with the private sector and its practices so it is not likely anything major will happen anytime soon. I've decided to buy Ires REIT shares (predominantly in the residential sector as opposed to Hibernia who predominantly operate in the commercial sector) today on a short-term horizon (6-12 months) as I feel these types of job losses combined with a muted supply of new builds in the near term will increase sentiment towards there being a rental crisis and therefore a demand for rentals.


    off topic but i agree with you on some of the tech companies. I think they will likely face some regulations similar to those imposed on utilities in the US. The likes of cloud services, wireless + fixed telecoms etc which are now critical infrastructure.


  • Options
    #898
    TheSheriff
    Registered Users Posts: 1,108 ✭✭✭TheSheriff


    Thierry12 wrote: »
    That site is an eye opener

    https://www.auctioneera.ie/property/47-gulistan-cottages-rathmines-dublin-d06-e6c9

    Already at 485k

    My garage is bigger and that only cost me 20k :pac:

    I also think this is INSANE money, absolutely insane.

    But, my sister-in-law just got mortgage approval and they are exclusively looking at (what I would consider) tiny two bed red bricks which are priced at eye watering guides in D6.

    Wouldn't be for me, but some people love this stuff, minutes walk to rathmines/ranleagh etc. I can see the attraction; I think the premium is maddness, others may think it's worth the money ... someone already thinks its worth 485k!!!!!


  • Options
    #899
    OwlsZat
    Registered Users Posts: 1,510 ✭✭✭OwlsZat


    TheSheriff wrote: »
    I also think this is INSANE money, absolutely insane.

    But, my sister-in-law just got mortgage approval and they are exclusively looking at (what I would consider) tiny two bed red bricks which are priced at eye watering guides in D6.

    Wouldn't be for me, but some people love this stuff, minutes walk to rathmines/ranleagh etc. I can see the attraction; I think the premium is maddness, others may think it's worth the money ... someone already thinks its worth 485k!!!!!

    The bids aren't legally binding. Do people take the mick?


  • Options
    #900
    Sarn
    Registered Users Posts: 3,063 ✭✭✭Sarn


    Thierry12 wrote: »
    That site is an eye opener

    https://www.auctioneera.ie/property/47-gulistan-cottages-rathmines-dublin-d06-e6c9

    Already at 485k

    My garage is bigger and that only cost me 20k :pac:

    That sold for €520k at the end of 2017.


  • Advertisement
  • Options
    #901
    JimmyVik
    Registered Users Posts: 5,367 ✭✭✭JimmyVik


    Iceman29 wrote: »
    Average salary means nothing in this case, lets say you have 1000 new workers on big salaries looking to buy. They buy 1000 houses and you have 3000 made redundant that were also looking to buy that's a net loss of 2000 buyers on the market..... what happens to house prices? they fall.....


    I would think that if there were a good number of people working in that place in Kerry who were about to buy, then it might effect the house prices in Kerry.


This discussion has been closed.
Advertisement