awec wrote: » What about something like https://www.myhome.ie/residential/brochure/3-glendale-delgany-wicklow/4478960 DataDude? A good bit cheaper but still very nice (IMO), not as swish as the Redwood ones but in a better location.
fliball123 wrote: » Really?? Can you not think this through yourself..
Browney7 wrote: » Jan 16 the index stood at 104. Jan 17 the national RPI index was at 113. At Jan 18 it increased to 126.5. Jan 19 it increased 133.1. In Jan 13 it stood at 75.2. Those numbers show strong price growth and yet supply is still incredibly week. The thing with bubbles is you can only prove they are bubbles after they pop
schmittel wrote: » Yes, I have done so. I am trying to understand whether or not you have done so, and what you concluded? Or did you just read somewhere that bubbles are built on easy credit?
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: » Show me one bubble in history not predicated on easy access to cheap credit?
DataDude wrote: » Really really like this house and I’ve no idea why it hasn’t sold yet. To me it seems a very fair price. I’ve called about it a couple of times and will hopefully go to view once restrictions lift. I’m being really fussy here but ideally I’d like to be walking distance from the dart if possible, as drive to + dart from Greystones is a tough commute even if only 2/3 times per week. But in a couple of moments of exasperation at missing out on ‘dream homes’, we have come very close to buying that to get ourselves onto the ladder.
schmittel wrote: » Are you saying the reason that you can only have a bubble with easy access to cheap credit is because every bubble in history has been built on cheap credit? I was asking if you could explain your understanding of why easy cheap credit is an essential ingredient? Can you do that?
fliball123 wrote: » And I said can you not work that out yourself? If you dont understand this key ingredient to every bubble in history then I am not doing your homework for you.
fliball123 wrote: » Here is a link to the trend pay attention to 2017 to 2020 prices went up then down in 2018 then back up in 2019 then back down 2020 and are currently on the way back up this is not how a bubble acts. In a bubble price blow up hense the name.https://tradingeconomics.com/ireland/housing-index
DataDude wrote: » “Pricing not set in stone yet but we expect them to be just north of the million mark”. So I’d say you’re correct. Seems to a fairly constant flow for sale in Eagle Valley. I’ve tracked about 10 over the last year. They stay up a long time and almost never make asking price. Some of them have fabulous gardens but the houses themselves are a bit meh.
Cyrus wrote: » my big issue is that a lot of the mcmansiony type houses (and eage valley falls into that category) have the most horredous uPvc windows. for me they would be the first things that would need to go, and its if a big house that gets expensive real quick :P 1m for those houses wouldnt be off the scale if its a nice development, id like to see the designs. One in particular has a very large garden it seems but there will be a price for that
schmittel wrote: » From your posts I don’t think you have a very good understanding of the credit that is in the market, that’s why I am asking. Quite happy to show you my homework: Majority of residential transactions are being completed by non household buyers - funds, councils etc. These buyers have an effective cost of credit of near zero. Easy access to cheap credit. On top of that you have the cash investors - there is currently an effective zero opportunity cost of capital to them, which has similar effect to easy access to credit. Yes, Paddy and Mary FTBers don’t have easy access to cheap credit, but you are mistaken if you think that easy access to cheap credit is not fueling this market. Do you disagree, and if so what am I missing?
fliball123 wrote: » Have you any link to your first sentence? OK so councils dont have access to credit ok so are we as a country not currently borrowing billions yet they can buy property do you think they are not using the borrowed money the government are getting to pay for this? Funds have investors how do you know these investors are not borrowing money for this? Do you have a break down of cash buyers. Also we may be only entering a bubble now so all of your post is null. We will only know about a bubble in a few years
cnocbui wrote: » Be very careful you don't hesitate too much and suddenly find it's gone sale agreed and no one is returning your calls.
DataDude wrote: » Houses have come and gone over the last couple of years. There’s only one that still haunts me that we didn’t buy. Although I like that house, it doesn’t fall into the category where I’d lose sleep were it to sell. In fact, I’d say it’s highly probably it’s already sale agreed and not marked as such!
schmittel wrote: » Very interested to hear which one haunts you??!!
DataDude wrote: » Sold a while back (€1.01m) so no good photos left. It has a stunning large west facing garden. It came up just as we were ready to buy. Said to myself ‘there’ll be plenty more’. A year later and I’m still waiting! I know it’s a little bit out of Greystones. But I’d have put up with it.https://m.independent.ie/life/home-garden/homes/roomy-rivergrove-is-a-detached-bungalow-just-a-stones-throw-away-from-cliff-walk-between-bray-and-greystones-39296865.html
schmittel wrote: » Majority of residential transactions are being completed by non household buyers - funds, councils etc.
Cyrus wrote: » not sure why to be honest
Mic 1972 wrote: » Because for that amount of money you should be able to get a mansion with plenty of space around
Marius34 wrote: » Really? Where did you find this kind of information?
As noted by Goodbody chief economist Dermot O’Leary, the non-household sector (private companies, charitable organisations, and State institutions) accounted for 41 per cent of new home purchases in July and for 39 per cent over the past 12 months. “This included 48 per cent of new homes in Dublin over the past 12 months . . . this has been a trend that has been in place for some time and highlights the role that government vehicles (approved housing bodies, for example) and the private rented sector are having,” O’Leary said.
schmittel wrote: » Comparing the numbers of housing units built to number sold, listening to PropQueries, reading the Irish Times:State bodies playing role in squeezing Dublin housing market
Marius34 wrote: » That's not the same thing though. New builds is just a portion of residential property transactions. In fact it's less than half.
MacronvFrugals wrote: » The house that the council outbid my sister on was in poor nick, the antithesis of a new build!
sanfranbest wrote: » This house has been on the market for a few months, it was originally priced at 1.2 million, Now it has been relisted at 995k It's still a horrible house,, no curb appeal,,, dark and bad layout, Still not worth 995K,,, You are paying for the address,, not the house,,https://www.daft.ie/for-sale/detached-house-106-baggot-lane-ballsbridge-dublin-4/3152823
