DataDude wrote: » What are peoples thoughts on Redwood in Enniskerry? https://www.daft.ie/new-home-for-sale/redwood-development-enniskerry-co-wicklow/1507074 They seem to be struggling to sell and all are going €150k+ below asking. Also on the surface seems like someone who went in early got stung with an identical one next door going for €100k less a couple of months later. Although I think they’re among the nicest new builds I’ve seen, headline starting price of €1.3m seems very steep? We’ve registered an interest in a similar scale/price development launching next year and I was semi tempted to try buy off plans. But having watched the premium houses in the Greystones Marina and now Redwood all stick and ultimately go well below the headline price, I’m reluctant to do so...But also don’t want to miss out if we do decide we like them! Always thought a potential benefit of going new development was no negotiation - price is the price and you’re not getting ripped off or getting a steal. Apparently not the case!
JimmyVik wrote: » Over €1m for a house in an estate. Let that sink in
schmittel wrote: » Just because prices have continued to rise does not make his opinion in 2017 wrong. It is a bit disingenuous to say he has been caught lying! Essentially he is saying don't buy now - we're in a sellers market and supply is at record lows. It seems obviously correct that we're in a sellers market and supply is at record lows. What are the facts he is ignoring?
Cyrus wrote: » plenty of estates with houses over 1m, some with houses over 2m.
JimmyVik wrote: » I know. Doesnt make it easy to swallow. I'll say it again. €1,000,000 + for a house in an estate - give me the shivers.
Villa05 wrote: » Asuuming everybody knows what's going on with the property market is naieve. Supply is at record lows Most new builds are not made available for sale to the general public Your competing against large entities that either use your money or have a significant competitive advantage in that they pay no tax I think alot of people are not aware of all these issues. When a market is that stacked against the person's that wish to buy a home. Its best to pause and wait The content of his podcasts needs to balanced with the target audience and purpose of his podcast which is to make economics relevant and understandable to the everyday person He achieves that with exceptional guest speakers. This I'm sure you can see as like me you enjoy his podcast. I'm sure there are not too many people out there that looked forward to their mainstream economics class.
Cyrus wrote: » i have looked at that a few times, looks a fine house with a high spec, plenty of space aswell. Id personally rather be in greystones although enniskerry is nice, but doesnt have nearly as much going on. As for new builds, always negotiate, especially at that end of the market
fliball123 wrote: » what makes his opinion wrong is prices since 2017 have gone up a bit gone back down a bit then gone back up a bit then down a bit..This is not a trajectory a bubble takes. We may now in 2021 be at the beginning of a bubble but from 2017 to the end of 2020 we were not. He was caught lying he lied about the dotcom bubble not being based on easy to access to cheap credit when it was, he was trying to prove that a bubble can exist without this property when history shows it cant. Well like I say in 2017 he was saying bubble we are in a bubble again trying to persuade people not to buy..How is that working out for anyone who listened to him in 2021?
DataDude wrote: » Yeah I’m also not a massive Enniskerry fan (like town, logistically difficult). The one we’re looking at will have 9 houses also. But there’s 1 (maybe 2) that are clearly considerably more desirable than the other 7. So feels potentially like a game of chicken to try haggle for the best one. But yes, my observations to date would align with your suggestion. New builds in the €1m+ range are sticky. The ones in Brighton Wood also don’t appear to be flying off the shelf by any means!
schmittel wrote: » I think Enniskerry is a very pretty little village but it just feels like it is the wrong side of the N11 in my opinion. I think it used to achieve a premium compared to Delgany/Greystones but I suspect those days are over.
fliball123 wrote: what makes his opinion wrong is prices since 2017 have gone up a bit gone back down a bit then gone back up a bit then down a bit..This is not a trajectory a bubble takes. We may now in 2021 be at the beginning of a bubble but from 2017 to the end of 2020 we were not. He was caught lying he lied about the dotcom bubble not being based on easy to access to cheap credit when it was, he was trying to prove that a bubble can exist without this property when history shows it cant.
DataDude wrote: » Interesting. I was using Redwood as my barometer for what this other development is worth if we’re to be first in the door. I would have assumed that Enniskerry would have been a fair bit cheaper than Delgany/Greystones when doing the comparison. Very promising if that’s not necessarily the case! Edit - I know Enniskerry has a higher average sale price but just assumed this was due to the different mix of houses vs Greystones.
fliball123 wrote: Can you see any of the above properties changing anytime soon and if so how?
Villa05 wrote: Supply is at record lows Most new builds are not made available for sale to the general public Your competing against large entities that either use your money or have a significant competitive advantage in that they pay no tax
JimmyVik wrote: » I know. Doesnt make it easy to swallow. I'll say it again. €1,000,000 + for a house in an estate - give me the shivers. Any chance I can have one of the social houses in there
cubatahavana wrote: » Less than 11 units doesn't qualify for social
DataDude wrote: » Interesting. I was using Redwood as my barometer for what this other development is worth if we’re to be first in the door. I would have assumed that Enniskerry would have been a fair bit cheaper than Delgany/Greystones when doing the comparison. Very promising if that’s not necessarily the case!
schmittel wrote: » Is there a new high end development in Delgany/Greystones in the pipeline?
DataDude wrote: » Yup, Church Lane. A long ways to go - still haven’t broken ground.
schmittel wrote: » the wrong side of the N11 in my opinion.
awec wrote: » I personally wouldn't be overly fussed on living on the west side of the N11.
JimmyVik wrote: » My granny was from Enniskerry and my in-laws are in Greystones. She lived there until she died a few years ago. I know both very well and both are really nice places, but personally Id actually prefer to live in Enniskerry.
MacronvFrugals wrote: An interesting stat, 61% of homebuyers in the UK who are eligible do not use their Shared Equity Scheme
schmittel wrote: » What is it about easy access to cheap credit that makes it the essential ingredient of a bubble? Can you explain why this is so?
Cyrus wrote: » Redwood house is bigger than the ones proposed for church lane so im guessing the greystones ones will be more expensive per Sq/m but not overall... Eaglewood was very desirable one time in enniskerry but i think the sheen has gone off it now a bit.
