Lolle06 wrote: » Imo between the Climate Change refugees from other countries and the Hongkong Billionaire who wants to build an entire new city, the Island of Ireland and its low density population will be quite interesting for all sorts of people to relocate to in future. I wouldn’t underestimate the draw of this country.
JamesMason wrote: AirBnB-ers will be s******* themselves when this "summer" is over. Also, many colleges will be providing off campus classes come October. Rental availability surely must go up dropping asking prices. Or is this hyperbole?
JamesMason wrote: » AirBnB-ers will be s******* themselves when this "summer" is over. Also, many colleges will be providing off campus classes come October. Rental availability surely must go up dropping asking prices. Or is this hyperbole?
The_Conductor wrote: » I don't think there is the abundance of supply that people seem to imagine there is out there. The lions share of airbnb in Ireland is not units that are permanently available on the platform- it is temporary availability of units for specific timeframes (normally while the owners are elsewhere- often in other airbnb units). Yes- there are some units dedicated to airbnb- but they are the exception rather than the rule. Any 'normalisation' of the sector- will probably be next summer (2021) at the earliest- possibly the following year- its not something that is going to happen short to medium term. The saving grace for Airbnb in many urban settings- will be students looking for short-term rentals for the 1 week a month they're in formal classes for the next semester (or longer term). Many of them will view airbnb as a better bet than a hotel for a week- or traveling to and from college for their 1 week a month- or 1 day a week (or whatever). Either way- its going to take a while for the dust to settle.
Mic 1972 wrote: » Sales prices showing no sign of decline as latest report belowhttps://bl.ocks.org/pinsterdev/raw/98d5baa18a1bc6d603e0/
cubatahavana wrote: » What’s the source of the report?
PPR volume and median sale price.
BEdS_83 wrote: » https://www.myhome.ie/residential/brochure/56-willow-avenue-primrose-gate-co-kildare-celbridge-co-kildare/4447341 -€100,000 (-34.49%) €289,950 €189,950 someone mistyped the price?
TheSheriff wrote: » Had posted the below house about two weeks back, gone tonight for 6% over asking.https://www.auctioneera.ie/property/33-castleknock-avenue-laurel-lodge-castleknock-dublin-d15-pp82 Asking 499k, gone for 531k A house on the same road went last month for 525k (Asking was 490k)https://www.auctioneera.ie/property/10-castleknock-avenue-laurel-lodge-castleknock-dublin-d15-da26 So not seeing any evidence of drops; albeit in a very small area!
MrMusician18 wrote: » To be fair, if the price drops do not manifest themselves in the next 4 to 6 months the property bulls will have called this correctly and i, like many others on the forum will have to eat their humble pie. Although the housing market has incredible amounts of inertia, at this point, I would've expected it to be showing signs of turning. Volume is way way down though which is likely playing into price support. That said I just cannot see how prices can remain supported at the level they are at given the damage to the economy. The buyer pool has to be shrinking rather rapidly currently as credit becomes withdrawn, jobs are lost and the economy enters recession. Since volume of completed sales is way down are we looking at sellers simply refusing to countenance a price below expectation? I guess we shall see if the no of available properties starts to rise that this is the reason (no evidence of this yet tbf). If that is the case then the falls will eventually come.
wassie wrote: » In fairness, I don't think too many people, both the bulls & the bears, in this thread had anticipated the level of supply to be falling as much as it has.
Bass Reeves wrote: » In market terms a bull us someone that considers the market will keep rising fast. A best is someone who considers the market will collapse. There was very few bulls if any on this thread. Most like myself could not see the house market collapsing. I myself said we could see a price reduction.but it would be.np more than 10% and might not be that much. What we had was a large number of bears that talked about a 20%+ reduction. They posted that there would be a property crash worse than 2007-12. The other view held by me and other was that the conditions in2007-12 were totally different and were created by over supply and a house price boon that had seen exponential rises for the previous 4-8 years. It was driven by unrestricted lending and an attitude that anyone could have 2-3 houses. It was tax driven and ROI for investors was below 2% so an investor was dependent on house price rises to make a profit. Since 2016-2017 prices in Dublin have steadied and very few investors were buying there. House builders were still struggling to finance and start building until 2018/19 therefore supply was limited. House price rises were strictly limited by imposition of 3.5 times lending rules with limited exemptions. Published building costs seemed to bear out everything that those who believed the market would not collapse completely posted. However bears on the thread posted spurious data collected by themselves which had no bearing on the reality on the ground. Any local knowledge by those that could not see a collapse was rubbished. There was no bulls only bears......and maybe a few who taught they could cause market disturbance
CorkRed93 wrote: » https://www.myhome.ie/residential/brochure/3-bed-detached-blackrock-villas-blackrock-cork/4313650 Decent drop in a desirable area in Cork
lomb wrote: » Those are half a million shoeboxes, looks like one needs a million to get any kind of a house in that area. Is that sensible? Not to me anyway. Even to buy a 500 shoebox one would need an income of 150k. Thats a seriously well paid job or jobs. Those houses were approximately worth 50-60k in 1990 to give an idea.
