fliball123 wrote: » I still dont see the gap closing anyone selling will surely also have to buy so its a zero sum game when things open back up and it comes to the supply/demand dynamic. The only way this will shift is if they get new builds going back and built very quickly.
Balluba wrote: » At the BidX residential and commercial property auction last Friday some properties went 25%over the guide price. I’m wondering though if the guide price was too low in the first place?
Sweet.Science wrote: » Do people expect and influx of properties to come on the market after April 5th ?
Deleted User wrote: » Has it really been that hard to view properties? I bought a rural cottage in February and had no problems travelling out west to view a couple of times. My experience was no different to pre-COVID
Pelezico wrote: » The numbers on myhome have now fallen below 12000. I wonder can we get as low as 8000. DFt and myhome must really be hurting at this stage. Irish Times in particular needs the property porn revenue to fund its excellent pensions. It is a fantastic time to sell a property.
optogirl wrote: » you cannot view in person at the moment - it's ridiculous. A couple of houses we are interested in have come up. We email the EA. Standard respons 'Due to covid restrictions we are unable to provide viewings' :rolleyes:
Browney7 wrote: » Whilst people looking to trade up or down will be a zero sum game, the market dynamics will still change. If there are 17000 buying units versus 14000 properties available and then 3000 traders enter, the absolute shortage is still the same but in relative terms the shortage drops (20000 buyers and 17000 properties in this example). No idea how many people buy or sell or trade up in a given year. The landlords who are looking to offload investment properties will also be able to enter the market as they've been unable to serve notice to tenants on the grounds of sale due to Covid restrictions.
random_banter wrote: » I've noticed a number of former rental properties have gone up for sale. For example, a row of houses in Whately Place, Stillorgan. And others. And also two or three in a row in Rathmines etc. It seems like landlords who bought a few properties in the same place and now they're getting out. You can tell they're long term rental properties, hardly modernised, no furniture, etc. Seems to be supporting the narrative I've read from posters here about landlords getting out of the game.
schmittel wrote: » Is there any indication yet on whether or not normal viewings will be permitted again after April 5th. i.e viewing before you bid?
fliball123 wrote: » Are you actually buying I thought you had the opinion that the market is going to fall ???
fliball123 wrote: » In your first paragraph the gap is still the same relative or absolute and in your second paragraph the tenants who have just been evicted then needs somewhere to live so they either leave the country, rent somewhere else, buy somewhere else or get accommodated by the state so once again a property is available and another property is needed unless the renter is leaving Ireland and would you take that risk currently We have possibly one of the best rates of social welfare benefits when compared globally in the world there to help you out would you be leaving Ireland when the globe is still suffering from Covid. The only real way to fix the current problem is by building or if Props is to be believed get the 100k properties including rooms over the shops into play.
Browney7 wrote: » The shortage is 3000 in both scenarios. As a percentage of the buying units, 3000/14000 = 21.4% shortage, 3000/17000 = 17.6% shortage. If you think 20000 units chasing 17000 units is the same market dynamic as 17000 buyers chasing 14000 units you're entitled to your view but I don't believe it to be the same. Rental market is up in a heap, people have stopped renting and moved home, people have left the country, people have returned to the country, people are not paying rent or accruing arrears, others are unaffected. There will be a lot of dust to settle in Q3 in my view
Shelga wrote: » I'm currently in a ridiculous bidding situation on an apartment. My head is wrecked. If I bid higher, the sale will be at least €20k over what any other place in the development has sold for in the last decade. It all comes down to whether things are going to get better, stay the same, or get worse. I have no idea what to do. My anxiety is through the roof. I'm starting to hate this country again.
Deleted User wrote: » I was viewing in person with Sherry Fitz (not some cowboy agent) All COVID secure of course. Masks, not touching anything, sanitiser etc
Fuzzy_Dunlop wrote: » Doesn't change the fact that the guidance is that viewings shouldn't taken place until a house is sale agreed, and that most estate agents have been abiding by this which has led to the crazy bidding wars to get 'first preference' on viewing.
Deleted User wrote: » If this is going to be your home, in which you will build a life, rather than be purely an investment, then IMO you need to change your mindset. It’s potential as your home, as compared to other places you are seeing in the market, is more important than whether it’s €20k above some ‘market’ price. And if its within your borrowing capacity, then €20k will be barely noticeable on your monthly payments. If it’s something you see yourself flipping in the next few years, then it’s obviously a different calculation I just paid 25% above asking for a place after a crazy bidding war. But because I want it, and I see a life there, I don’t care what the supposed ‘market’ is at
JimmyVik wrote: » And that is how house prices rise
Deleted User wrote: » I understand that. But if I have found a place that can be my home, then the price against the market, at least for me, is very much a secondary consideration (as long as is affordable). Evidenced by me paying 25% above asking for a rural property recently. Would obviously be different if I was an investor or anticipated wanted to sell in the next few years and make a profit.
Pelezico wrote: » It is a sellers market out there. Only someone with deep pockets and no money memory should consider buying. Thank goodness for central bank loan limits or we would be off the scale in house prices. I can see a bigger fall in supply coming. People are sitting tight.
TobyHolmes wrote: » good. someone with some sense. i understand everyone's need to buy at the moment. believe me. i understand. it just doesnt make sense though at the moment. sit tight is right and stockpile your money. watch it grow and dont give it to the banks. anyone with a mortgage doesnt really own anything by the way. the bank owns it till you pay it off. but your cash - thats all yours.
awec wrote: » This is not at all true.
![Photo of [Deleted User]](https://w0.vanillicon.com/v2/07abd39dc4f0afde3c391afc78cc920e.svg)
