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Irish Property Market 2020 Part 2

Graham

Continued from here:

https://www.boards.ie/vbulletin/showthread.php?t=2058041687

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MacronvFrugals

HotDudeLife wrote: »

And it's looking like Trump will win by a landslide too.

Just today he has accepted a 4 hour debate with Biden on the Joe Rogan show, if Biden agrees Trump will tear him a new one, if he rejects that doesn't look good either.

Trump asked for a drug test before the debates also, the aderall that helped Biden look competent and slick in the DNC debates will not be used this time round.

ELM327

Cyrus wrote: »

have you ever hot desked?

its rubbish

Yeah, for non ops teams in my company we are going to be offered hot desking from Q2 2021 I think.

I'll just continue 100% WFH

brisan

ELM327 wrote: »

Yeah, for non ops teams in my company we are going to be offered hot desking from Q2 2021 I think.

I'll just continue 100% WFH

As will thousands of others
My son started a new job early June
He has never met another employee of the company in person
He loves not having a commute and only working 8 hrs a day

Cyrus

brisan wrote: »

As will thousands of others
My son started a new job early June
He has never met another employee of the company in person
He loves not having a commute and only working 8 hrs a day

thats fine as he starts out, and maybe i just cant imagine it as its not existed in my career so far but i dont see how you can progress in a company without making proper personal connections along the way.

Claw Hammer

MacronvFrugals wrote: »

Slightly facetious but go back to the Black Death and that directly switched us from feudalism to capitalism.

The end of feudalism was brought about by Magna Carta which prohibited the sub infeudation of land.

MacronvFrugals

Our place (IT) has everyone WFH except a couple guys in to train the newbies.

Management have been clear we're never going back to 5 days in the office, most likely 3-4 WFH and 1-2 in the office.

HotDudeLife

Cyrus wrote: »

thats fine as he starts out, and maybe i just cant imagine it as its not existed in my career so far but i dont see how you can progress in a company without making proper personal connections along the way.

Many in my company have thrived in full time remote gigs (Asia, EU and US based). However, they did meet colleague maybe once or twice per year at conferences and office visits etc. This could easily occur post Covid

brisan

Cyrus wrote: »

thats fine as he starts out, and maybe i just cant imagine it as its not existed in my career so far but i dont see how you can progress in a company without making proper personal connections along the way.

He is early 30s and this is his fourth HR job
In HR you seem to move around till you hit your late 40s
and sit on the big job when it lands
My wife's brother is high up in HR and specializes in rationalization
4-5 years max in any job until now

Pelezico

brisan wrote: »

No but I am fairly secure so hopefully it wont affect me
Retiring -redundancy this year
DB pension healthy lump sum,AVCs and mortgage free.
But i firmly believe this will be the worse recession in the last 100 years
Once the gov turns off life support then it will all start

You must love this recession. With a DB pension and redundancy, all your Christmas' have come at once.

The worse the recession, the better relatively you will be.

Life must be really good.

Cyrus

brisan wrote: »

He is early 30s and this is his fourth HR job
In HR you seem to move around till you hit your late 40s
and sit on the big job when it lands
My wife's brother is high up in HR and specializes in rationalization
4-5 years max in any job until now

both of our heads of HR in my time here have been in their 30s

but i dont much about how careers in HR go to be honest.

Pelezico

What is the difference between a recession and a depression?

Cyrus

Pelezico wrote: »

What is the difference between a recession and a depression?

length and depth

Pelezico

Cyrus wrote: »

length and depth

Wrong.

brisan

Pelezico wrote: »

You must love this recession. With a DB pension and redundancy, all your Christmas' have come at once.

The worse the recession, the better relatively you will be.

Life must be really good.

No one gains in a recession
Everyone loses except the billionaires ,hence why Warren Buffet is cash rich at the moment as he waits for a bargain
Plus I have children all with mortgages
It may not affect me as much but it will effect me ,of that I have no doubt

Pelezico

A Recession is when your neighbour loses his job. A depression is when you lose your job.

brisan

Pelezico wrote: »

Wrong.

So what is it ???

brisan

Pelezico wrote: »

A Recession is when your neighbour loses his job. A depression is when you lose your job.

brisan

Cyrus wrote: »

both of our heads of HR in my time here have been in their 30s

but i dont much about how careers in HR go to be honest.

Our HR deot changes regularly
Nightmare for the shop stewards
Experience seems to be the key
Get a couple of years and move for more money
Rinse and repeat

Geuze

Pelezico wrote: »

What is the difference between a recession and a depression?

I don't think a depression is defined in economics.

Please note that in the past, the word recession was not used, and all recessions were known as depressions.

That's why the Great Depression is named.

I have heard that a drop of >10% in GDP is a depression.

I would call Greece's five consecutive years of falling real GDP a depression.

Geuze

HotDudeLife wrote: »

All joking aside, seriously? How can you say that, we haven't even witnessed the impact on the economy when the covid payment is pulled and not to mention the winter flu season, among a host of other issues, brexit, US elections etc.

Retail trade up:

https://ec.europa.eu/eurostat/documents/2995521/11179856/4-05082020-AP-EN.pdf/7b50a190-c48f-64b2-9174-e45f6a04ce1a

Industrial production up:

https://ec.europa.eu/eurostat/documents/2995521/10569367/4-14092020-AP-EN.pdf/0a4097fd-5205-1a6c-b0db-bd771ba21098

Bass Reeves

Leozord wrote: »

the last serious pandemic happened in the midst of a war

soon later we had 29 crash and the nazi-dream

tough times alright

In a way none were related. The Spanish FLu was from 1917-1929, it was well over by the late 20's. The great depression happened from 1929 however there was no social welfare and Governments did not intervene. It was the actions of Franklin Roosvelt that started the recovery by controlling Gold supply he could start to print money which allowed recovery. Hitler rise to power was mostly caused by the harsh penalties imposed on Germany by the Treaty of Versailles. Fasism was a new type of nationalism to counter Communism, at the start it was popular with conservative/ better off section of society until Hitler started annexing other European countries

HotDudeLife wrote: »

And it's looking like Trump will win by a landslide too.

Just today he has accepted a 4 hour debate with Biden on the Joe Rogan show, if Biden agrees Trump will tear him a new one, if he rejects that doesn't look good either.

I am not sure, he is jiggling all over the place trying to nail Biden. No candidate will agree to a four hour debate. Neither will any candidate agree to a drug test. Trump is an unknown as to whether he can recover or not. I would not bet against it but he can no longer play the outsider card as he was in power nearly four years. His biggest problem is with him needing Town Hall type meeting if there are outbreaks where he carriers them out there could be a backlash

cunnifferous

brisan wrote: »

Some big drops in Greystones overall

Outside of those comically overpriced apartments, prices have not been going down in greystones. Believe me I wish they would!

drogon.

MacronvFrugals wrote: »

Our place (IT) has everyone WFH except a couple guys in to train the newbies.

Management have been clear we're never going back to 5 days in the office, most likely 3-4 WFH and 1-2 in the office.

I have been luck enough to be in a similar position, where we always worked from office 4 days a week and 1 day from home. But that is because we have all the setup - VPN, laptops, voip phones, mobile phones, cloud backups for laptops, online meeting solution, instant message solution etc.

I would say it will be hard for most companies to offer all that to employees, plus pay rent for an office block, electricity, water, heating etc. when employees only turn up once or twice a week in the long run

snotboogie

HotDudeLife wrote: »

Many in my company have thrived in full time remote gigs (Asia, EU and US based). However, they did meet colleague maybe once or twice per year at conferences and office visits etc. This could easily occur post Covid

I think this is a lot more likely than 3 days per week at the desk. What does a company really have to gain from this other than mild employee satisfaction? I predict around 3 days per month in the office for specific meetings being the norm while all of the deskwork gets done from home. This would allow companies to reorganize office space for meetings and downsize for cost savings.

What this means for cities is pretty interesting but hard to predict. Could we have fewer cities but those that survive remain busy but become hugely transient? What it could mean for property is even harder to predict, at first glance it would seem that a lot of what Dublin has rallied against; hotels, student accommodation and accommodation for short term lets could be the big winners in a post pandemic world where people are in and out of Dublin all of the time. At the same time, who will want to pay 600k for a semi D in Leopardstown if you're only in the office a few day per month?

brisan

cunnifferous wrote: »

Outside of those comically overpriced apartments, prices have not been going down in greystones. Believe me I wish they would!

PRICE CHANGES IN GREYSTONES
PROPERTY PRICE REGISTER IN GREYSTONES
Main image for 1 Bed Apartments, Marina Village,, Greystones, Wicklow
1 Bed Apartments, Marina Village,, Greystones, Wicklow
14th Sep 20
-€114,950
(-22.99%)
€499,950
€385,000
A3
Main image for 29 Charlesland Court, Greystones, Wicklow
29 Charlesland Court, Greystones, Wicklow
10th Sep 20
-€10,000
(-2.56%)
€390,000
€380,000
C2
Main image for Ennis Lane, Lower Windgates, Greystones, Co. Wicklow
Ennis Lane, Lower Windgates, Greystones, Co. Wicklow
6th Aug 20
-€76,000
(-10.48%)
€725,000
€649,000
C3
Main image for 38 The Woodlands, Greystones, Co Wicklow
38 The Woodlands, Greystones, Co Wicklow
31st Jul 20
-€80,000
(-8.21%)
€975,000
€895,000
C2
Main image for 1 Twin Oaks, Church Lane, Greystones, Wicklow
1 Twin Oaks, Church Lane, Greystones, Wicklow
16th Jul 20
-€50,000
(-5.27%)
€949,000
€899,000
B2
Main image for 3 Lower Kindlestown, Greystones, Wicklow
3 Lower Kindlestown, Greystones, Wicklow
6th Jul 20
-€10,000
(-2.25%)
€445,000
€435,000
D2
Main image for Moonacre, Killincarrig, Greystones, Co. Wicklow, A63PK50
Moonacre, Killincarrig, Greystones, Co. Wicklow, A63PK50
16th Jun 20
-€100,000
(-9.13%)
€1,095,000
€995,000
C1
Main image for Ennis Lane, Lower Windgates, Greystones, Co. Wicklow, A63C902
Ennis Lane, Lower Windgates, Greystones, Co. Wicklow, A63C902
11th Jun 20
-€70,000
(-8.81%)
€795,000
€725,000
C3
Main image for 8 Castlefield Terrace, Killincarrig, Greystones, Wicklow
8 Castlefield Terrace, Killincarrig, Greystones, Wicklow
19th May 20
-€10,000
(-2.74%)
€365,000
€355,000
View All Price Changes
Popular Searches

Drops of
22.99%
2.56%
10.48%
8.21%
5.27%
2.25%
9.13%
8.81%
2.74%
Prices are dropping
Not sure if the asking was too high originally but prices are dropping in Greystones

awec

There was a release of a new phase of a new development in Greystones yesterday and prices were all up on previous phases, and I believe they all sold.

brisan

awec wrote: »

There was a release of a new development in Greystones yesterday and prices were all up on previous phases, and I believe they all sold.

Thats just the builder taking the increase in the HTB scheme
Nothing unusual in that

awec

brisan wrote: »

Thats just the builder taking the increase in the HTB scheme
Nothing unusual in that

No, they went up by 60k.

Previous phase (last year) was starting from 435, these were 485-500+.

Cyrus

brisan wrote: »

PRICE CHANGES IN GREYSTONES
PROPERTY PRICE REGISTER IN GREYSTONES
Main image for 1 Bed Apartments, Marina Village,, Greystones, Wicklow
1 Bed Apartments, Marina Village,, Greystones, Wicklow
14th Sep 20
-€114,950
(-22.99%)
€499,950
€385,000
A3
Main image for 29 Charlesland Court, Greystones, Wicklow
29 Charlesland Court, Greystones, Wicklow
10th Sep 20
-€10,000
(-2.56%)
€390,000
€380,000
C2
Main image for Ennis Lane, Lower Windgates, Greystones, Co. Wicklow
Ennis Lane, Lower Windgates, Greystones, Co. Wicklow
6th Aug 20
-€76,000
(-10.48%)
€725,000
€649,000
C3
Main image for 38 The Woodlands, Greystones, Co Wicklow
38 The Woodlands, Greystones, Co Wicklow
31st Jul 20
-€80,000
(-8.21%)
€975,000
€895,000
C2
Main image for 1 Twin Oaks, Church Lane, Greystones, Wicklow
1 Twin Oaks, Church Lane, Greystones, Wicklow
16th Jul 20
-€50,000
(-5.27%)
€949,000
€899,000
B2
Main image for 3 Lower Kindlestown, Greystones, Wicklow
3 Lower Kindlestown, Greystones, Wicklow
6th Jul 20
-€10,000
(-2.25%)
€445,000
€435,000
D2
Main image for Moonacre, Killincarrig, Greystones, Co. Wicklow, A63PK50
Moonacre, Killincarrig, Greystones, Co. Wicklow, A63PK50
16th Jun 20
-€100,000
(-9.13%)
€1,095,000
€995,000
C1
Main image for Ennis Lane, Lower Windgates, Greystones, Co. Wicklow, A63C902
Ennis Lane, Lower Windgates, Greystones, Co. Wicklow, A63C902
11th Jun 20
-€70,000
(-8.81%)
€795,000
€725,000
C3
Main image for 8 Castlefield Terrace, Killincarrig, Greystones, Wicklow
8 Castlefield Terrace, Killincarrig, Greystones, Wicklow
19th May 20
-€10,000
(-2.74%)
€365,000
€355,000
View All Price Changes
Popular Searches

Drops of
22.99%
2.56%
10.48%
8.21%
5.27%
2.25%
9.13%
8.81%
2.74%
Prices are dropping
Not sure if the asking was too high originally but prices are dropping in Greystones

Asking prices

Marius34

brisan wrote: »

PRICE CHANGES IN GREYSTONES
...
Prices are dropping
Not sure if the asking was too high originally but prices are dropping in Greystones

That's price change on the adds, it doesn't say anything if the overall property prices are going down or up.
And in stable market, you would expect same number of sellers increasing price on they unsold property?

In most countries sellers at first put price what they want to get, and if they don't achieve it, they lower the price, and not other way around.