fliball123 wrote: » and yet 10 months in we still have seen no drops?
Valentin_N wrote: » The reason the median price is going up is because the number of transactions for lower value properties has gone down significantly. With the volume of transactions for more expensive properties mostly unaffected, the median goes up.
PommieBast wrote: » In my case the EA only removed the ad from Daft the day after I withdrew from the sale. Crazy..
antiskeptic wrote: » Brexit won't be done in January next year. Brexit will be done when the impact of Brexit on Ireland washes through and we recover from whatever the effects might be. Corona is the same. The effects of Corona on the world economy won't be removed just because Corona is. That would be like saying your fixing a broken slate on your roof eradicates the effect of the slate on your roof being broken. A market lifting says that folk think a bad bet has turned into a better bet. That people will start to go on holidays again (market gets back into airlines) doesn't mean there won't be lots of unemployment or busted business. You think retail isn't going to suffer due to the shift to online sales? Closing high street means jobs gone. And those jobs will be here - not in China which makes all the stuff we buy online. Me? I find it hard to suppose a calamity the size of Corona won't have a very negative effect on the world economy. Too big a hit in too many areas..
fliball123 wrote: » I think if there was going to be a large drop it would of happened. We have had corona for 10 months and had Brexit hanging over us all year. From Jan of next year Brexit will be done there will be some fallout and its looking most likely we will have a solution to corona. You only have to look at the markets for the uplift when pfizer announced their trial results
Reversal wrote: » So how many weeks PPR data is available at this moment for Q4? About 3 weeks? And partial at that... So off raw median price data (that was proven to have major flaws here recently) representing about 20 percent of the total sample you declare a whole quarter to be on the up. The margin of error is going to be so large with such partial data, your conclusions can only be totally useless and unreliable. But I guess you know that... Lets see what the CSO say in January.
Cyrus wrote: » yes i think people are increasingly wary of the costs of renovations and will pay a premium to avoid them, so walk in is best, expansion potential is next and no potential is a much harder sell!
Marius34 wrote: » Early Prediction: CSO Property Price Index to turn positive for 2020 Q4. Due to new data and this week’s news, I start to think that I was at some extend wrong with my prediction on crisis impact on Residential Property price, but to other direction, than most have thought. My prediction was 3-5% decrease, but I start to think that there may not be further decrease. It might be to early to tell, but looking at the PPR data I see first signs that CSO Property price Index may turn positive for 2020 Q4. In a week or two, it will be clearer, when there will be more data, thus less chance with errors/anomalies. Here is from my report on PPR data (Its mostly Median price with some adjustment calculation). Dublin: Ireland(ex-Dublin):
Mic 1972 wrote: » That wasn't my point. A previous poster said that AEs leave houses on MyHome long after they are gone because it attracts potential buyers. I'm a potential buyer who have inquired a number of properties that were "already gone" and the EA didnt' call me back to propose other options. So there seems to be no apparent reason why a property is left on the market after sales agreed
Donald Trump wrote: » Volume of transactions in August 2020 down over 40% compared to August 2019 https://www.cso.ie/en/releasesandpublications/ep/p-rppi/residentialpropertypriceindexaugust2020/additionalindicators/
Donald Trump wrote: » There will always be a bias in such figures as most buyers and sellers are not investors in either the sense of their reasons for buying/selling nor are they "professional". There is always the view "well it was worth 400k last year I'm not going to sell it for 380k now because it will just go back up to 400k". So transactions are probably not being closed unless they are at, or close to, what people perceive to be a high watermark. In some ways that sets the market price of course, but it *could* also be delaying an inevitable fall. I don't have the figures to hand. I'm just speaking hypothetically. You'd need to be looking at the completed sales figures in conjunction with what I said above. If the numbers of actually sold is more or less the same as previous years then it is not the case. If the numbers sold are much less than normal then it could be the case.
Marius34 wrote: » Yes, latest CSO report showed a minor price decrease. "Residential property prices decreased by 0.6% nationally in the year to August. This compares to a decrease of 0.6% in the year to July"https://www.cso.ie/en/releasesandpublications/ep/p-rppi/residentialpropertypriceindexaugust2020/
Mic 1972 wrote: » Was there any decrease? I haven't seen any price drop in 2020, as of now prices are slightly higher than beginning of the year
cnocbui wrote: » If you take a listing down and the sale falls through, wouldn't listing again incur a new and hefty fee?
Mic 1972 wrote: » That wasn't the case for me tho. I was told it was too late for an offer. I'm seeing properties on MyHome that have been there for ages, have inquired them already and was told they are gone. They are still there now.
Mic 1972 wrote: » I see what you mean, lots of AEs have my details by now, none of them has come back to me with other opportunities
fliball123 wrote: » Well if they are busy and have enough people ringing them and actually displaying an obvious interest on a daily/weekly basis why would they ring you?. If I was you I would check the EA of the property that you like on my home and actually check the agents website, they tend to update these more regularly so you will know if the property is still in play but it is annoying that some properties are left up ad available when they are sale agreed
cnocbui wrote: » I know what it means, and that wasn't the case with my house. the seller was very glad to hear from me as the buyer was messing them around. I got it for the same price as the sale agreed person was offering, too. The EA was an entirely different matter - they were the one who didn't want to tell the vendor there was another, superior expression of interest.
random_banter wrote: » This is completely anecdotal but may be of interest to some. I've been tracking 70+ properties in South Dublin that have caught my eye over the year. Many of these went SA and some have now come onto the PPR. Of the 18 I have selling prices for, 6 of them went for over asking, between 2.4%-7.5%. The rest went for under asking, between .7%-7.5%. The average is a decrease, -.7% under asking in the period between March-Sep (this is when the properties I'm tracking went SA and are starting to trickle into the PPR). The sample size is obviously too small to take any real conclusions, and it's in a unique area - South Dublin, 3 bed houses and Semi-Ds which will always be a micro market of its own. The average isn't helpful either - some properties went for a large discount or a large increase over asking. Asking ranges between 500-700k. I did notice that it was the properties that were either in walk-in condition or had amazing expansion potential that went for well over asking. It supports the narrative of a certain set of buyers being desperate to get out of small homes or family homes to have some space due to the pandemic. Don't know if it's helpful for anyone, but there it is. The most recent properties on my list (the last month or two) seem to be higher asking prices than similar properties in April/May. Perhaps taking advantage of the situation.
fliball123 wrote: » Sorry sale agreed means that the 2 parties have agreed a sale and its highly unlikely that a higher bid will be accepted...
cnocbui wrote: » Sale agreed doesn't mean a sale will proceed and doesn't prevent someone making a higher offer.
Marius34 wrote: » Early Prediction: CSO Property Price Index to turn positive for 2020 Q4. Due to new data and this week’s news, I start to think that I was at some extend wrong with my prediction on crisis impact on Residential Property price, but to other direction, than most have thought. My prediction was 3-5% decrease, but I start to think that there may not be further decrease
Donald Trump wrote: » Because when you ring up they can tell you "sorry. that is gone. But what about this other one I have coming up? can I get your details to put on my email list"
