Pelezico wrote: » Why would anyone holiday in Ireland? No sun, overpriced food, accommodation and eating out is extortionate. Give me Spain ...even with covid.
Augeo wrote: » Ireland is wonderful...... I think my trips abroad going forward will be infrequent long weekends & work trips (if needed).
sanfranbest wrote: » That shoe box cottage has been on the market for ages, it showed a bid of 485k for weeks, now suddenly they have a bid for 525k, plus they still have a viewing next Saturday 29th Aug,,,, are they looking for more than 525k,,,,,,,,, Who in their right mind would pay over a half a million for this cottage is beyond my comprehension,,,,,,,,,,,,,,,,https://www.auctioneera.ie/property/47-gulistan-cottages-rathmines-dublin-d06-e6c9 Looking forward to seeing the actual selling price on the PPR
Pelezico wrote: » We are at 2017 prices. That should hit the price.
Pelezico wrote: » Sure it is and the weather is to die for.
Augeo wrote: » The weather is what it is..... I'm here nearly 40 years
PropQueries wrote: » Just a follow up to this article. However, there may be a few other reasons I can think of: 1. The state may be actively soaking up many of the rental units to meet their social housing numbers. But given that there are only about 400 homeless families in Dublin (much more than anyone would like but not so much that it couldn’t be easily resolved), so I’m not sure that could have much of an impact. 2. Given the amount of AirBnB and ex-student rentals that should be re-entering the market, maybe these will enter the market in significant numbers in the next 6 weeks or so to drive down rents. I can’t imagine landlords leaving houses and apartments empty for the next 12 months, at a minimum, in the hope of a rebound that may not happen. 3. Another is that I would assume that the majority of 12 month leases are signed in September/ October. As these leases expire and are not renewed (WFH cohort), there may be an influx of rentals re-entering the market in the next two months from this source. These may be currently empty, but not available as the existing tenants may still be paying for their remaining months. 4. Maybe the thousands of units the investment funds soaked up in the last 8 years are being held back as they decide what their game plan is going forward. Given that they probably purchased them for a fraction of today’s asking prices, I’d assume they may decide to offload them in bulk at significant discounts to current asking prices and still walk away with a hefty capital gain? Maybe it is a genuine supply issue, but I'm suspect of that reason as apartment rents appear to be definitely on a downward trend from what I can glean from looking through daft recently. Anyone got other ideas?
Villa05 wrote: » Providing affordable housing to the working populace at a reasonable distance to there place of work should be one of the easiest problems to solve
JJJackal wrote: » Full disclosure: I have a vested interest - I love Ireland Why would someone not want to come to Ireland? Ireland has everything. 1) English - most people can speak English as a second or third language internationally 2) Large diaspora who want to come home 3) Arts Culture Heritage 4) Relatively low density population - lots of countryside etc 5) Great food and great selection 6) East of Ireland is very dry and there are plenty of dry sunny days 7) Huge spread of accommodation from camping to cottages to hotels to castles to whatever you want 8) Readily accessible from anywhere in the world 9) Likely one of the safest places in the world - low risk of being dragged into a war etc, low crime rates etc 10) While the weather can be rainy, low risk of a significant weather event that will trap you in eg tornado etc Ireland however is not a sun holiday destination. But that said there is lots of reasons to come here
TheSheriff wrote: » No, we are at 2020 prices. No matter how many times you repeat this it's still, not yet, supported by data.
Pelezico wrote: » In my area it is....and that house in Rathmines. That should give for 525k..ie 2017 prices. I would be surprised if it did not.
The_Conductor wrote: » There always will be high demand areas- where demand will always outstrip supply. Rathmines, and the general D6 area- is one of those areas. With respect of the house/cottage in Rathmines- I suspect it'll get its 525k too- however, it won't have the queue of people bidding against one another for it- that it might once have done- based purely on the Rathmines address. I'd suggest Rathmines- in general- is an outlier that does not represent the general statistics that best apply to most other (with a few other exceptions) Irish locations.
Pelezico wrote: » When my son was bidding in Jan/Feb, there were loads of people viewing. The market was hot. That is all gone now.
JJJackal wrote: » There are social distancing restrictions - you cant have 20 people in a property now! You cant tell how many are viewing
Pelezico wrote: » The market is not hot. Mortgage approvals down. Mortgage lending down. Number of houses sold down.
The_Conductor wrote: » I personally know of 3 people who viewed that 'cottage' including my younger sister. People are looking- there may be some tyre kicking going on- but people are looking.
TheSheriff wrote: » That's funny, we've been outbid on a number of properties above asking since lock down started. You are operating in a vacuum it seems.
cannotlogin wrote: » Is the housing market not just doing exactly what it did in 2007? All signs of an upcoming recessions but too early to see any sustainable economic damage at the time (Even now many people are talking about the economic situation being temporary and a return to normality post covid despite that the unemployment rate is 20% & there are less options regarding moving country or sector than they were then). The market hasn't alternated significantly since covid and people are still buying for a number of reasons:- 1. They can afford to now & are concerned about mortgage approval difficulties, job losses, etc in the future 2. Concern about reducing housing stock in the future 3. Still think the recession won't affect them & maybe it won't We won't even begin to see the true damage until next year. Banks will continue to lend - they need to for profitably, they may be more selective & have less expections but if I was in a stable recession proof job I would be waiting. The stock of housing won't necessarily shrink that much, I.e. student accommodation & air b&B are no longer attractive, inherited properties most likely to be put on the market as the beneficiaries are probably under more pressure th a pre covid19, cannot afford to recover, a move out of larger cities as working from home becomes more possible. This is balance out over time. Nobody knows what will happen but it really feels likevearly 2007 again.
JJJackal wrote: » There are many differences but most importantly all first time buyers have 10% deposit and could only borrow 3.5 times salary, 2nd time buyers 20%. Thus negative equity less likely and loan more likely to be affordable. Also fundamentally economic imprudence did not drive this recession - consequently one would expect that when/if COVID is under control we should get growth. Growth if there is a vaccine is likely to be at a scale not previously seen - as the dip will be reversed (UK has drop of 20% GDP, probable that they could get a rise of >5% after COVID - previously unheard of which will restore confidence in the markets) Likely banks will print money like its going out of fashion - does not guarantee inflation but it could support inflation. Inflation will link to rising salaries etc. Leading to bigger mortgages etc
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