RichardAnd wrote: » I ask myself this question too. IT could be investment firms, but then again, some people do have a hell of a lot of cash in savings. Two people on 70k+ would put away a lot of savings, and they would qualify for a large mortgage to boot.
awec wrote: » They aren't. Big difference between going sale agreed and actually closing the sale.
Balluba wrote: » Angela Keegan director Myhome.ie says that she expects transaction prices to be lower than asking prices and she also seems to suggest that supply is not as low as some say. I’m left wondering just what the truth is.
Balluba wrote: » It beggars belief if people are buying houses before they even set foot in them.
johnnyskeleton wrote: » If you're happy, and they're happy, what's the problem?
SheroP wrote: » woejus wrote: » You might miss out on a pool of buyers, but in this market, unlikely. You'll get a few tyre kickers wanting to see what hand soap you use etc. You might not be able to suss out a timewaster as well as an EA can; specify any offer must close in x days, take a deposit via your solicitor if possible. Stick a big sign outside your gaff and see what happens. List it on all the free-to-list sites you find. Use a disposable phone, not your own one Thank you for your input I have a buyer who approached me I suggested a price and they snapped at it Now hope to proceed between solicitors Hope that I’m doing the right thing ?
woejus wrote: » You might miss out on a pool of buyers, but in this market, unlikely. You'll get a few tyre kickers wanting to see what hand soap you use etc. You might not be able to suss out a timewaster as well as an EA can; specify any offer must close in x days, take a deposit via your solicitor if possible. Stick a big sign outside your gaff and see what happens. List it on all the free-to-list sites you find. Use a disposable phone, not your own one
SheroP wrote: » Not sure if posting in the correct forum, but what are peoples views on selling a property privately, ie no estate agent involved?? Are there any pitfalls??
amacca wrote: Does it take raw materials for building into account ...anecdotally at least steel, timber etc have risen
DataDude wrote: » I'm not sure comparing current prices with 2008 levels is the best way of determining if prices are too high or low though? I know every country had a property bubble, but I feel like our one was particularly mental? I can't remember exact figures but saw some mental stats on LTI levels in that year in Ireland. Looking at percentage growth rates from one period to the next and comparing countries assumes we all started from the same point. And even with our other counterparts, just cause we are in line with them, maybe they are just as unaffordable as we are. It's an interesting comparison but don't think it should be a case of saying "sure it's awful elsewhere too so it's grand". We should aspire to be better. To my mind, the only way to determine if property is affordable/sustainable is to compare it to household incomes (theoretically net, but since lending is based on gross, use that). Particularly in Dublin (and probably Cork/Galway), the data seems pretty clear to me that house prices in those areas cannot be supported by the income of the people in those areas, and is therefore above it's fundamental value. Don't think it's crazy. 2012 prices today would clearly be ridiculous. Maybe somewhere in the region of 10-15% below current levels would appear sustainable in the long term.
Timing belt wrote: » Still no signs of meaningful inflation in Ireland's CPI.https://www.cso.ie/en/releasesandpublications/er/cpi/consumerpriceindexmarch2021/ The CPI is equal to what it was a year ago and if you take into account the vat rate moving from 21% to 23% in March it would indicate that Year on Year we are still seeing deflation in the CPI while asset prices continue to rise.
Ush1 wrote: » Yeah not sure it's worth that but lovely house now in fairness.
awec wrote: » Interesting piece: https://www.rte.ie/news/business/2021/0408/1208596-european-house-prices/ Irish house prices have risen in line with the EU average since 2010, but rental increases are vastly higher.
awec wrote: » Yes. It is often said on here that Ireland's housing market (buying, not renting) is crazy, yet the stats suggest that we are in line with Europe. We also know that the current market is still significantly below 2008 levels. So, putting the supply issues to the side (a big issue to put aside, I agree), would it be a really bad read to think that the market here is actually not as crazy as has been made out?
Browney7 wrote: » https://www.daft.ie/for-sale/terraced-house-67-richmond-road-drumcondra-dublin-3/3150250 This house is listed at 650k (very aspirational) and sold for just over 200k in late 2013 (spent money on it presumably in that time also) so high demand areas are likely up a lot more. Didn't the market hit the trough in 2012?
DataDude wrote: » Yeah you're right, CSO has it that it fell a further 28% from 2010 to 2012. So a 77% rise from the bottom but only up 27% from 2010...oh take me back to 2012, would have been great fun!
schmittel wrote: » Are house prices really up just 28.6% since 2010? Feels like a lot more.
schmittel wrote: I guess they were still falling 2010 through 2013 so maybe 30 odd percent rise is plausible since 2010.
schmittel wrote: » I guess they were still falling 2010 through 2013 so maybe 30 odd percent rise is plausible since 2010.
awec wrote: » I don't know to be honest, it does sound a bit low and there may be some strange corner case data involved. But it's from EuroStat, so their data must be at least valid and presumably unbiased.
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