PropQueries wrote: » Dún Laoghaire-Rathdown homeowners face 15% hike in property tax due to Covid crisis. “In effectively increasing the local property taxes in Dún Laoghaire-Rathdown, councillors have ensured that those whose homes are worth between €400,000 and €450,000 will see bills increase from €650 per year to €765.” Link to Irish Times article here: https://www.irishtimes.com/news/ireland/irish-news/dún-laoghaire-rathdown-homeowners-face-15-hike-in-property-tax-due-to-covid-crisis-1.4354899
brisan wrote: » According to MyHome In the last 3 months Greystones has seen 11 price increases 36 price decreases Overall decrease of 4% Wicklow has seen 46 price increases 146 price decreases Overall decrease of 3% They are the figures in isolation How those prices compare to last years prices or to prices in certain more desirable areas I have no idea
Springy Turf wrote: » You are dreaming...if the house prices drop by 50% we'll all be back to subsistence farming to get by.
Geuze wrote: » The current recession is already in the recovery phase. Plenty of people can afford to borrow and buy houses. Some people can't manage to pay inflated urban rents and save for a deposit, yes. The housing market may soften due to uncertainty, yes.
awec wrote: » How many prices didn’t change?
brisan wrote: » Yes asking prices dropped They obviously dropped because no one was interested at the original asking price
mariaalice wrote: » This thread could be a great resource for someone buying if wasn't for the fantasist, and those for whom everything is a sign of a recession.
brisan wrote: » The current recession is only waking up
Graham wrote: » We have a separate thread for that: Currently buying/selling a house?
Cyrus wrote: » indeed, people may have priced too high, doesnt mean achieved prices are falling however.
beauf wrote: » There is a stark difference in narrative in that thread to this one.
timmyntc wrote: » The majority of people to suffer in this latest "recession" were the low paid - mostly retail & hospitality workers. Why would this lead to much of a drop in house prices at all? Many of the people who lost jobs weren't really in a position to buy anyways, and if they were it would be near the bottom of the market - a segment that's not really doing to drop any lower as plenty of average wage IT workers and so on will happily make up the shortfall in demand for those types of houses.
brisan wrote: » We will have to wait up to 6 months to see what the PPR reveals However if a house priced at 500 k drops to 475 k after a few months on the market I think it’s safe to say it did not achieve 500k sale price. Unles 2 bidders suddenly came onto the market at the same time and both wanted the house and both were prepared to pay 500k or more for the property However we will never know All we can do is look at the facts on MyHome and the PPR
Geuze wrote: » Q3 data should be released in Dec. You seem to expect GDP to fall? All the evidence points to GDP rising currently.
brisan wrote: » I expect the full force of the recession to hit when the government pulls the plug on the life support it is currently providing to the economy on the form of wage supports Then the true unemployment rate will hit as the tourism , retail and hospitality sector lay off workers
Pelezico wrote: » Are you the guy with the final salary pension and no mortgage? You must wake up every single day congratulating yourself.
mariaalice wrote: » I could be wrong but I doubt tourism, hospitality, and retail worker are buying houses in the 400-500k bracket.
Assetbacked wrote: » The Dept of Finance cheif economist's report as discussed in the IT article mentioned increasing stamp duty for house purchases over €1m as one potential money grabber I saw.
timmyntc wrote: » Why would this lead to much of a drop in house prices at all? Many of the people who lost jobs weren't really in a position to buy anyways, and if they were it would be near the bottom of the market - a segment that's not really doing to drop any lower as plenty of average wage IT workers and so on will happily make up the shortfall in demand for those types of houses.
Leozord wrote: » you are absolutely right I work in IT myself, most of my friends bought houses in the last 9 months having many foreigners with 6-digit salary, in uncertain times, made loads of people purchase and ensure their place in Ireland The top-bracket earners (some foreign couples working in the sector) are getting new 600k+ houses in south Dublin without much effort. It is a common thing. And finally, anecdotally no IT professional was made redundant during covid, in fact it was quite the opposite: loads of job offers from remote workers. Some of the lads moved down to Tip, Tullamore, Lucan and are settled.
The_Conductor wrote: » Just how many homes of >€1m are sold in Ireland on an annual basis? I suspect its a very small number (I could be wrong). As a measure- I don't think this would generate meaningful government revenue- it would be a hugely populist gesture, certainly, however, other than getting plaudits in the media for taxing the wealthy- I don't see how it would that it would make much of a difference. This is a populist measure- nothing more, nothing less.
beauf wrote: » That's not true. I know some IT worked who are in the travel and similar industries, they were all let go. That said some are back working with other companies hired and onboared all remotely. WFH.
mariaalice wrote: » A lot of how of how got the house we have now was just luck, I wouldn't have had a clue about planning for the future in my twenties, I do feel sorry for people who see houses getting out of there price range.
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