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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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Ush1

Sweet.Science wrote: »

Never understood the lure of Castleknock . Couldn't justify paying them prices but each their own

Same as Foxrock, paying a lot of money to be around other people who paid a lot.

Claw Hammer

brisan wrote: »

https://www.irishrail.ie/station/castleknock
Not a DART but a train station

It is nowhere near the dart line. Just because there is a train station there, does not mean that the dart line runs through it.

brisan

Claw Hammer wrote: »

It is nowhere near the dart line. Just because there is a train station there, does not mean that the dart line runs through it.

If you read my post you will notice I said it was a train station and not a DART station
There are trains running to and from it on a regular basis

TheSheriff

Claw Hammer wrote: »

It is nowhere near the dart line. Just because there is a train station there, does not mean that the dart line runs through it.

Apologies, I said DART, I should have said train (although I believe the dart is in the horizon). Regardless, it's approx 25 mins to city centre.

Not trying to big it up versus other locations, we like it, I'd prefer to live near the sea, but that's comparatively more expensive.

Claw Hammer

brisan wrote: »

If you read my post you will notice I said it was a train station and not a DART station
There are trains running to and from it on a regular basis

I was replying to a poster who said there was a dart line in Castleknock. There is no dart in Castleknock. Whatever trains run through Castleknock do not provide a service cap comparable in any way to the dart.
I think Castleknock has a few roads with reasonably good houses and the rest of it is lower middle class rubbish.

brisan

Claw Hammer wrote: »

I was replying to a poster who said there was a dart line in Castleknock. There is no dart in Castleknock. Whatever trains run through Castleknock do not provide a service cap comparable in any way to the dart.
I think Castleknock has a few roads with reasonably good houses and the rest of it is lower middle class rubbish.

if you were replying to another poster why did you quote my post ?
Surely the proper etiquette when replying to a post is to quote that post and not another posters reply

20Cent

Want to sell a house at the moment, called some estate agents. One was talking about this long term social leasing scheme and Said that there are Investors buying up places at good prices to rent them out with this scheme.

Anyone know if this is true or is he full of it?

It's in Dublin city centre and would be easy to let.

fliball123

20Cent wrote: »

Want to sell a house at the moment, called some estate agents. One was talking about this long term social leasing scheme and Said that there are Investors buying up places at good prices to rent them out with this scheme.

Anyone know if this is true or is he full of it?

It's in Dublin city centre and would be easy to let.

Yeah you can give you gaff to the gov they will give you 85% of the going rate of rent for your place and they will look after the maintenance for you

TheSheriff

Claw Hammer wrote: »

I was replying to a poster who said there was a dart line in Castleknock. There is no dart in Castleknock. Whatever trains run through Castleknock do not provide a service cap comparable in any way to the dart.
I think Castleknock has a few roads with reasonably good houses and the rest of it is lower middle class rubbish.

Whether you intended it or not, this comes across as extremely bitter.

I could think of far worse areas to live to be honest.

brisan

20Cent wrote: »

Want to sell a house at the moment, called some estate agents. One was talking about this long term social leasing scheme and Said that there are Investors buying up places at good prices to rent them out with this scheme.

Anyone know if this is true or is he full of it?

It's in Dublin city centre and would be easy to let.

Fair chance he was full of it if he was talking

fliball123

brisan wrote: »

Fair chance he was full of it if he was talking

Its actually very true

https://www.housingagency.ie/housing-information/information-property-owners-and-landlords

woejus

Ush1 wrote: »

Same as Foxrock, paying a lot of money to be around other people who paid a lot.

Is this really your understanding of what makes areas such as Foxrock appealing? That other people have paid "a lot" to own a house there?

Seems more like bitterness to me.

Privacy, quiet, space, proximity to city centre... these are the differentiators that drive properties price variances.

That and no howyehs roaming the streets.

brisan

fliball123 wrote: »

Its actually very true

https://www.housingagency.ie/housing-information/information-property-owners-and-landlords

It was said in jest

Pink11

TheSheriff wrote: »

Another one springs to mind I remember, the house was described as Glasnevin north. It was in ballymun.

Glasnevin gets pulled and dragged into all sorts. Have seen Finglas and Cabra under that address too.

Fairview and Ballybough described as leafy Drumcondra...

Worst are those new housing brochures. Could be sued for false advertising! It's shocking what they lump into them.

Double check the eircode to be sure!

Sweet.Science

People are so weird about where they live

brisan

https://www.myhome.ie/residential/brochure/hampton-gardens-balbriggan-co-dublin/4467285

i wonder what the reason for this sale is
I wonder would they knock the half a mill off if I offered cash

Here is another one

https://www.myhome.ie/residential/brochure/the-willows-block-b-claremont-road-sandymount-dublin-4/4397642

Reversal

Castleknock certainly presents terrible value for money. More expensive semis more expensive than Templeouge, Terenure or Rathfarnham while having none of the character of the early to mid century stuff built in those locations.

I suspect the overvaluation of property in Castleknock comes from the fact it is an oasis in West Dublin. If you want to live on that side of the city it's the only option, you are totally surrounded by dumps outside of Castleknock. Hence people gladly overpay for cavity block semi d sheds.

The_Conductor

Reversal wrote: »

Castleknock certainly presents terrible value for money. More expensive semis more expensive than Templeouge, Terenure or Rathfarnham while having none of the character of the early to mid century stuff built in those locations.

I suspect the overvaluation of property in Castleknock comes from the fact it is an oasis in West Dublin. If you want to live on that side of the city it's the only option, you are totally surrounded by dumps outside of Castleknock. Hence people gladly overpay for cavity block semi d sheds.

Hoi- you really are denigrating West Dublin. Certainly Castleknock is a high demand area- however, while I accept that there are many less salubrious areas in West Dublin- there are also many traditional areas with decent housing, decent people and more reasonable prices. The bigger issue with West Dublin- is unfettered development- which is rapidly getting worse in some areas (Lucan for example) in the name is SDZs and light touch planning regulation. The lack of thought given to areas like West Dublin- is bewildering- and is rapidly creating further ghettos and no-go areas, even in erstewhile 'good' areas.

The whole premise of West Dublin, Castleknock included, is ease of access to the city centre. Hopefully our enforced experiment of the last 9 months- brings a seachange to that attitude.

j@utis

Hotel is selling off its rooms? What's this about? Powerscourt

Graham

j@utis wrote: »

Hotel is selling off its rooms? What's this about? Powerscourt

Hotels are often financed by selling 'rooms' to investors, it's not that uncommon. Hotel gets investors, investors get a 'guaranteed' income.

That could well be an existing investor looking to cash out rather than the hotel going to market.

thefridge2006

Hopes for a swift economic recovery in 2021 have faded, says ECB

https://www.thejournal.ie/ecb-financial-stability-update-5278126-Nov2020/

There's a surprise......:rolleyes:, but doesn't affect us here in Ireland, we're different and wont affect anything here, especially housing

The_Conductor

j@utis wrote: »

Hotel is selling off its rooms? What's this about? Powerscourt

Its not terribly unusual (perhaps it is in an Irish context- however, its common Stateside). You're buying a fully serviced suite- which remains managed by the Hotel- they gain management fees for the privilege of letting it (akin to how the let any other suites) and they look after it in a manner akin to any of the other suites. In return you get an income from your investment- in the current climate they are suggesting an ROI of 5%- which may be reasonable in the context of zero % rates for someone who has 100k to park somewhere. Issue is- returns are not guaranteed, and the asset is illiquid (and usually the vendor has the contracts drawn up massively in their favour to enable them to buy you out on terms that are attractive to them at some stage in the future).

Its curious seeing it in an Irish context- however, its not a new concept by any means.

Graham

thefridge2006 wrote: »

Hopes for a swift economic recovery in 2021 have faded, says ECB

From the same article:

The ECB now expects the combined economies of the single currency area to grow by just 4.7% in 2021, down from the 6.2% it pencilled in during the summer.

Cyrus

Graham wrote: »

From the same article:

amazing what actually reading an article can do for comprehension

The_Conductor

4.7% growth isn't to be sniffed at.........
Of course it is in the context of a 2020 contraction- however, its not the disaster that some people seem to imagine it to be.

Hubertj

Cyrus wrote: »

amazing what actually reading an article can do for comprehension

Much easier to only read the headlines though

fliball123

thefridge2006 wrote: »

Hopes for a swift economic recovery in 2021 have faded, says ECB

https://www.thejournal.ie/ecb-financial-stability-update-5278126-Nov2020/

There's a surprise......:rolleyes:, but doesn't affect us here in Ireland, we're different and wont affect anything here, especially housing

No it still predicts a recovery and a rise of 4.7% they are downgrading it from 6.2% hardly the doom and gloom report your making it out to be. If the economy was to grow is that not a positive result? Its also a combined so some economies will languish and others will go back up a lot quicker. So lets see have we any advantages that might help us grow quicker than other EU countries.

so only English speaking country in the EU
Corpo tax advantages
Highly educated population

Add then on top
Tourism will be back
Migration will be back

If you an american or non-EU company where are you likely to base you European HQ????

PropQueries

fliball123 wrote: »

No it still predicts a recovery and a rise of 4.7% they are downgrading it from 6.2% hardly the doom and gloom report your making it out to be. If the economy was to grow is that not a positive result? Its also a combined so some economies will languish and others will go back up a lot quicker. So lets see have we any advantages that might help us grow quicker than other EU countries.

so only English speaking country in the EU
Corpo tax advantages
Highly educated population

Add then on top
Tourism will be back
Migration will be back

If you an american or non-EU company where are you likely to base you European HQ????

Well, most of the banks in London have chosen Paris, Amsterdam, Frankfurt etc. in their preparations for leaving the EU...

fliball123

PropQueries wrote: »

Well, most of the banks in London have chosen Paris, Amsterdam, Frankfurt etc. in their preparations for leaving the EU...

Have you a link to this? Not that you have been found to be telling porkies on here before props? I have done a quick google on Brexit and financial institutions leaving and the first 4/5 all mention Dublin do I need to keep schooling you?

I see Dublin mentioned in here as well you left it out of the top places they are going

https://www.ft.com/content/a3a92744-3a52-11e6-9a05-82a9b15a8ee7

https://www.bbc.com/news/business-47522347

https://journals.openedition.org/rfcb/1331

JP Morgan

https://www.bbc.com/news/business-39789915

Goldman Sachs

https://edition.cnn.com/2019/01/07/investing/brexit-banks-moving-assets/index.html

Cyrus

PropQueries wrote: »

Well, most of the banks in London have chosen Paris, Amsterdam, Frankfurt etc. in their preparations for leaving the EU...

as if by magic, quicker than i thought :pac: