Irish Property Market chat II - *read mod note post #1 before posting*

Villa05 wrote: »

Your quoting the national figure, Dublin is quoted at 398,127 plus that is an asking price report while cso is achieved price

Whoops, my bad. Still, the point stands that Dublin and Edinburgh are near equivalent. Dublin house prices don't seem enormously high for an OECD capital city.

What was the prediction, I mostly skip over or just skim his posts? Was it a 30% rise in property taxes to preserve his pension?

Marius34 wrote: »

I'm not sure how this is still related to Cairn Home price decrease.
In short, regular land around small towns are cheaper, than in the cities, all around the world. Based on economic fundamentals due to Demands/Supplies. If you ask again kids style question "Why", I consider that you are trolling by now.

It can’t be land costs. Because DCC said they can’t build houses on state land for less than c. €400k and I believe it’s now been agreed by both the bulls and bears here that there’s no shortage of land in Dublin.

It can’t be labour costs as otherwise all the tradesmen would be driving the one hour it takes to drive from e.g. Mullingar each morning to get that multiple times salary they’re apparently all getting in Dublin compared to the rest of the country.

It also can’t be material costs as otherwise new build a-rated 3 bed semi-detached houses in Co. Wexford wouldn’t be currently selling for c. €200k.

What economic fundamentals are you referring to that should result in a new build a-rated home in Co. Dublin selling for €450k (as per proposed affordable housing bill) compared to the exact same type of new build house currently asking c. €200k in Co. Wexford.

The price difference between Co. Dublin and Co. Wexford obviously has got near nothing to do with economic fundamentals, so it must a political decision for whatever reason IMO

Kind of crazy but found this house in Kilcock

Looks like it was bought in an auction in 2020 for €265,000
https://bidx1.com/en/en-ie/auction/property/40363

Was done up nicely and put on the market for €450,000; since then has sold and assuming the seller would have gotten close to the asking price as well
https://www.property.ie/property-for-sale/96-The-Village-Green-Royal-Meadows-Kilcock-Co-Kildare/4626609/

Nice flip on the house if you ask me.

bubblypop wrote: »

Sorry, but I know if two 3 bed semi detached houses completely rewired for approx 3K.
One was last year, the other about 3 years ago.

Rural electricians prices have gone up by 40-50 % in the last 6 months

bubblypop wrote: »

Surely the property market in general includes property prices in the city and the country and the reasons behind those prices?

Not really when the discussion for near on a year is "cairn homes can build a house in Wexford for 200+k, I can't understand why a house in dublin doesn't cost the same'

Repeat the above evrytime someone explains why a house in dublin costs more than a house in Wexford.

This poster is trolling.

There was a time when property inflation was seen as a sign of our prosperity so we are making some progress, and we’re not alone in struggling with these problems - the second largest country in the world seems to be running out of space to build homes where people want them.

Canada’s housing market is running hotter than just about anywhere else in the world.

But despite the anxiety about irrational bidding wars and fears of the bubble bursting, what's fundamentally driving it is a worsening imbalance between supply and demand: Buyers want large homes but increasingly can’t have them because there isn’t enough space in and around the major cities where people work.

https://www.bloomberg.com/news/articles/2021-05-18/the-second-largest-country-in-the-world-is-running-out-of-land

For Ireland, though, soaring prices in Dublin could affect our ability to attract young workers for the MNCs and all the other jobs they create in the economy. In the coming era of international tax harmonization we must stay competitive on cost of living, and housing is a key part of that bill.

decreds wrote: »

How is this trolling, it's very immature and quite lazy to counter a post you don't like with trolling/tin foil hat theories.

Because its absolutely false information that land in cities are same value as outside urban areas.
And he keeps repeating this nonsense.

Villa05 wrote: »

At a time when our competitive advantages are being chipped away, it would be a brave move to grasp another opportunity of cheaper housing to gain significant advantage over our Western competitors.
Cheaper everything as a result of cheaper housing/property could help greatly in rebalancing our taxation system in ensuring that everyone contributes something and innovation and endeavour is rewarded over land and property sector lobbyists.

Childcare costs are half the quoted prices in Limerick over Dublin dito rents for staff 2 cities only 2 hours apart. The only reason this could be the case is high priced property as all other factors are equal

Imagine the standard of living people could enjoy if most of your high expenditure costs were reduced by up to 50%
Think of the revenue that is been lost from this country as increasingly property moves to a tax free status and landlords are foreign based

As a country are we moving backwards or forwards to the benefit of 1 sector and at the expense of all others plus the country and its people

Childcare cost will be higher in Dublin because there are more alternative jobs available that pay more. Property prices won’t account for all the differential in price. I would also hazard a guess that insurance will be be more expensive for childcare in Dublin because with the population there are probably more claims.

random_banter wrote: »

Had this convo with the O/H yesterday. We’ve been looking in South Dublin for a year now. The last 9 months or so, it was very much a standard asking prices, maybe based on 2018(ish) prices. This, coupled with lack of supply and pandemic panic resulted in crazy bidding wars for these properties, all going over asking and sometimes up to 100k over asking (we’re talking 3/4 bed semi Ds).

Human behaviour relatively slow to adapt - and now we can see this reflected in asking prices the last month or two. Asking prices are pumped based on the bidding wars of the last 9 months. The asking for some places is truly sickening.

It’s utterly depressing. The prices are going up faster than we can save right now. Had the deposit ready to go based on 2018 prices and now need far more if we are to buy now. There is a great fear that we could get our pants pulled down if we buy in the near future. Willing to wait it out but how long we will be waiting is finger in the air stuff (as has been discussed on this thread).

As always, grateful to see discussion and debate of the property situation by all contributors in this thread.

Your current living scenario would be a large decider in my opinion, on what you should do... I.e are you being robbed paying market rent. Public or rivate sector jobs etc...

decreds wrote: »

It's ironic that Props receives grieve for his predictions, despite the fact that props probably has the best record of predictions of every poster on this thread combined.


The dogs in the street know the property market would've crashed last March if it weren't for insane Government intervention which has only kicked the can down the road.



Smart money is leaving the market as we speak, just before we have to pay the piper. Couple it with the fact we will probably be in and out of lockdowns for the next few years, it wouldn't be dramatic to expect a 20-40% drop in Dublin property prices within the next 5 years.

He is predicting it in the next few weeks and what predictions has he gotten correct I must have missed them.

If the market was going to crash last March why will it take 5 years for your prediction of a 40 percent decrease to occur? Surely it will happen pretty quickly once the covid supports are removed.

Finally what government intervention has stopped the market from collapsing right now? Because they aren't buying at all levels of the market for social yet those levels are still holding up.

bubblypop wrote: »

No, I don't believe he is, I think many posters don't agree with him.
It's not correct the way he is spoken about on thread either, shouldn't be allowed, it isn't in other forums.

If course property prices in Dublin and the country should be discussed, it is the property thread, not the Dublin property thread.

If you or anyone else has an issue with a post then report it, or set up your own safe space WhatsApp group or something where no one is allowed disagree with anyone no matter how outlandish the argument.

People want to belive he is right I presume because they want to buy a house, cheap if possible.