omicron wrote: » I had the same decision, grew up in the country but can't afford it now. In the end decided to go with buying the semi d in town, because if I don't, I'll just be renting a similar property for a lot more money for the 5 or more years it'll take to save towards the house in the country. If I feel the same way in 5-10 years I'll probably move then assuming the market allows.
PropQueries wrote: » I don’t write the articles or the research reports so I can hardly be held responsible if they mostly support my viewpoint and not yours IMO
almostover wrote: » There's a new estate about 5 mins from that house that we're viewing tomorrow. €300k for a 4 bed semi-d in a village with shops, pubs, schools etc. 25mins from the city. A3 rated and we would buy it for €270k with the first time buyers grant. I've rented in semi d's and terraced houses since I was 18. As a country boy though I'm grappling with the idea of owning one. Always had the bungalow on 1/2 of acre in my mind. Similar to what I grew up in. The head however can't see the financial sense in that. Being from a country upbringing where people stay in the one house for life the idea of a starter home and trading up to a long term goal is alien to me too. Think I need to move past that though. Any advice for a young couple grappling between a head and heart decision?
PropQueries wrote: » I don’t write the articles or the research reports so I can hardly be held responsible if they mostly agree with my viewpoint and not yours IMO
Graham wrote: » I think the problem you're having is you approach every single piece of information and every article from the direction of "how does this support the theory the property market is crashing". It is to market analysis what "when all you have is a hammer, everything looks like a nail" is to woodwork.
poker--addict wrote: » There isn’t “a lot” of anything on the market right now. Is there any data which looks at quality as opposed to quantity? I don’t recall a worse selection before. Outside of new builds the market seems split into garbage that needs to be knocked or houses which owners perhaps have a “need” to sell (as opposed to simply upgrade activity)
PropQueries wrote: » Only reason left for the reduction in transactions, given that supply hasn’t really fallen, is lack of demand IMO.
Graham wrote: » Supposition as fact? You can't think of any other reasons why transactions may be down?
PropQueries wrote: » If transactions are down, it must then be due to too high asking prices.
Mad_maxx wrote: » not too many sold for under 100k in Dublin 7 that are over 300 k today , vast majority in D7 that dipped under 100k were apartments and those would still not be over 300 k today , two bed terraced houses in stoneybatter that needed work dipped as low as 140 k ( turn key no lower than 185 k around oxmantown road ) , those would be across 300 k today alright , D8 is a different story
PropQueries wrote: » According to the latest MyHome property report 2020 Q3: “New listings for sale on MyHome have returned close to 2019 levels through July to September” Link to MyHome report here: https://media.myhome.ie/content/propertyreport/2020/q32020/MyHomePropertyReportQ3-2020.pdf And we’re still expected to build c. 20,000 new homes this year. Link to Irish times here: https://www.irishtimes.com/business/economy/housing-completions-to-reach-20-000-but-analysts-warn-of-future-impact-1.4400965 Both these recent reports appear to contradict the narrative that nobody is putting properties up for sale and that construction of new built units has dropped significantly. For perspective, we built c. 21,000 last year. If transactions are down, it must then be due to too high asking prices. Therefore, wouldn’t that suggest that prices have to drop to clear the supply overhang?
PropQueries wrote: » That’s true. They’re trying to lock in yesterday’s perceived “market rents” before it’s too late and before the real market rents become general knowledge. Once the true current market rents become general knowledge they will be late, hence their current rush to lock them in now IMO.
thefridge2006 wrote: » There is plenty left to tax if you look at MNC's and vulture funds. They're being let away with murder and this has been a concise decision from the Gov to do so. The Government is at a point where they're either going to kick the normal person while they're down or else make the decision to tax the MNC's and vulture funds fairly. Will be interesting to see what route they take here. The Civil and Public service got nailed in the last crash and still aren't back to where they were in 07. Would be very unfair to nail them again when there is plenty other options
PropQueries wrote: » That’s been my fear. There’s nothing left to tax that would make any meaningful impact on the governments finances except my home and my pension. They’ve proven time and again that they won’t touch civil and public sector wages or pensions. In fact just over a month ago they signed up to a new hospital consultants contract that will make them among the highest paid public consultants on the planet and at a time when they were telling the rest of us that the state must manage its expenses for the benefit of “all” taxpayers. “The new €250,000 public-only role would involve one of the highest-paid consultant contracts in the OECD, unmatched outside the richest and most developed countries.” Link here: https://m.independent.ie/irish-news/health/new-public-only-hospital-contract-on-the-way-39572135.html
TheSheriff wrote: » Again, what you believe is dressed up and framed in a certain way to push your narrative. These houses are being sold at current market values, not at massive discounts as you like to state or suggest is occurring. Give it a rest PropQueries, it's very easy for people to see through your posts.
bubblypop wrote: » To be fair, there were any amount of houses in the Dublin 7 area that sold for less then 100,000 euro during the recession, they are worth more than 300,000 now. That's just a very small part, I'm sure there are plenty of examples. But the recession was very tough for a few years & house prices were rock bottom.
fliball123 wrote: » I never said property was on the way up I said it had risen big difference. The reason to be hopeful is we are close to a cure you can read into pfizer or the russian vaccine yourself. You keep going on about people who lost there job and seem completely unable to understand that a lot of people didn't lose their job, the world did not go into shutdown as you stated. There are still more people working in Ireland than not working that is a fact and once the virus is gone there will be an uplift with people who have been forced into saving will be ready to spend (now they may not necessarily spend on property do). What happens is the worker has to adapt get online/computer experience as some areas go more automated or online and jobs will decrease but you completely ignore areas like tourism, hospitality and hotels which will bounce back to where it was and further ignore areas like package/food deliveries, IT, Pharma, construction, healthcare that are all going to need a lot more people working in them. Its not up to you or me to tell people what way the wind is blowing but if they want work there will be plenty there for them if they adapt/retrain/reeducate. The problem with your analysis is its nearly always your opinion anything I have put up I have tried put figures behind the statement but you come out with a commentary that would suggest that almost all the 69k workers who came in to live here in the last 2 years are all on low wages and you have not one shred of evidence to back it up. I cant prove you wrong but you cant prove your right
Graham wrote: » As previous transactions have demonstrated these arrangements are generally at market rate which adds zero support to a 'called the top' theory.
PropQueries wrote: » Well I believe the bigger developers would disagree with you as CBRE published a report 2 weeks ago stating: “Several developers are at an advanced stage of negotiation with both local authorities and the Housing Agency, which will provide some much-needed social housing stock in a range of different local authority areas in due course“. So I believe the big developers have already quietly called the top and are now falling over themselves (with suspiciously little media attention IMO) to sign up to those long term lease agreements with the council before the allocated money runs out as they probably now realise there is most likely little to no demand for their units from either the buyer or renter side in the private rental/sales market. Link to CBRE report here: https://www.cbre.ie/en/research-and-reports/Ireland-Bi-Monthly-Research-Report-November-2020 Smaller developers or investors who were thinking of selling this year but have now held off until next year in the hope of achieving a higher price will (IMO) end up being very disappointed when they realise all that pent-up demand they have been told about may not really exist. By then it will be too late to sell IMO but each to their own as they say.
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