Irish Property Market 2020 Part 2

Wanderer78 · 19-09-2020 1:03pm

Curious_Case wrote: »

Is there an Irish website that can estimate property value based on the usual parameters ?

House type
No. of beds
No. of bathrooms
Size of garden
Parking
County etc.

Property Price Register isn't really helpful as mine is a poorly maintained house, but in a good area.

daft or myhome any good with that stuff?

coolshannagh28 · 19-09-2020 1:08pm

Wanderer78 wrote: »

nope, the rapid rise of private debt was the main cause of the last recession, this is clearly obvious in the data, and this was obviously due to the encouragement of rapidly growing property prices and connected activities, etc. again, theres also plenty of data and research to prove, rising private debt is far more dangerous than rapidly rising public debt, this just doesnt suit certain political and economic ideologies

This may not be the proper forum but of our current 200bn + debt , 50 was carried into the last recession and roughly 40 be went into the banking and property sector and the balance of 110 + billion went into the public side .

Wanderer78 · 19-09-2020 1:12pm

coolshannagh28 wrote: »

This may not be the proper forum but of our current 200bn + debt , 50 was carried into the last recession and roughly 40 be went into the banking and property sector and the balance of 110 + billion went into the public side .

oh i completely disagree there, property is one of the main reasons for the rapid rise in both private and public debt, particularly private debt, and its clearly obvious in the data. once again, there also plenty of proof, historically, that rapidly growing private debt causes for more crashes, and far more serious crashes, as we ve recently experienced, yet again!

TheSheriff · 19-09-2020 1:13pm

Leozord wrote: »

By my personal experience, this is not true

My company is hiring here in Dublin. We hired professionals/interns during the pandemic, without even face-to-face meeting. People are still joining on a weekly basis.

Job offers from linkedin recruiters haven't been impacted, to be honest I've received even more offers.

I'm not saying tech is flying and it is unbeatable, but it didn't get any major impact, at least within my social circle.

Are there any other SDEs here who could relate?

Other half works in Tech, she successfully applied, interviewed and was hired into a new company all during lockdown. It was all relatively business as usual.

No doubt its not flying, but definitely I think this will create somewhat of a two-tier society, both in terms of those whose sectors are impacted versus those that are not and also those who can WFH and those who cant.

Have a house viewing later this evening, seems the EA's have reverted to being quite strict (rightly so) on times for viewing etc. in light of new measures in Dublin. 15 minutes max to look around the house

Not really adequate in our opinion for such a large purchase!! Only round 1 of viewings tough.

beauf · 19-09-2020 1:20pm

Within IT it varies you might be in area in great demand or an industry that has collapsed. Some of my IT peers are in medical and some are in aviation.

beauf · 19-09-2020 1:26pm

Curious_Case wrote: »

Is there an Irish website that can estimate property value based on the usual parameters ?

House type
No. of beds
No. of bathrooms
Size of garden
Parking
County etc.

Property Price Register isn't really helpful as mine is a poorly maintained house, but in a good area.

You basically have to check online the houses that have sold on the same road, see through ads and Google maps which are most similar. You'll find some are better and some are worse. Put yours in the middle.

You also have to allow 20-40k that someone is going to have to hold back for refurbishing.

Then also consider if the property has any added value, size of garden, aspect, location in the road, expansion potential.

Mic 1972 · 19-09-2020 1:26pm

Tech companies hire into a variety of jobs that may not be technical at all.
If the Irish economy revolves around the multinational corps then jobs aren't going to disappear overnight
Amazon alone is doubling its size in ireland and it's all work from home

Wanderer78 · 19-09-2020 1:30pm

Mic 1972 wrote: »

Tech companies hire into a variety of jobs that may not be technical at all.
If the Irish economy revolves around the multinational corps then jobs aren't going to disappear overnight
Amazon alone is doubling its size in ireland and it's all work from home

jobs may not disappear over night, but you can be damn sure, if we dont keep the larger employer of the state, sme's, you ll quickly have dole queues growing!

Mic 1972 · 19-09-2020 1:59pm

Wanderer78 wrote: »

jobs may not disappear over night, but you can be damn sure, if we dont keep the larger employer of the state, sme's, you ll quickly have dole queues growing!

I agree with that, but that was always on the table
These multinationals don't go down because of covid or recession, they go down when their product is no longer marketable.

Pelezico · 19-09-2020 2:00pm

The public sector are delighted with current events. The deeper the recession, the better off they will be.

My father used to tell me 40 years ago to marry a laying hen, a teacher or public sector worker who would keep the money coming in during hard times.

Balluba · 19-09-2020 2:19pm

Pelezico wrote: »

The public sector are delighted with current events. The deeper the recession, the better off they will be.

My father used to tell me 40 years ago to marry a laying hen, a teacher or public sector worker who would keep the money coming in during hard times.

You probably told your father that you would marry the one woman in the universe who would make you happy. Imagine that.

handlemaster · 19-09-2020 2:23pm

There is a prediction that property will drop 14% in the UK in 2021.

https://www.financialreporter.co.uk/finance-news/house-prices-to-fall-14-in-2021-cebr.html?HT=FR&TrackingCode=sm-buffer&utm_content=bufferb40ea&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

Pelezico · 19-09-2020 2:29pm

Balluba wrote: »

You probably told your father that you would marry the one woman in the universe who would make you happy. Imagine that.

I was so naive as a young man. The woman he referred to was a trainee national school teacher an only child of older well to do parents who owned a fair but of property.

Just recently, I was sitting in my car, eating an icecream and scratching my balls when I saw her get into the passenger seat of a four wheel drive 19 plate. She looked very affluent.

I could swear I saw the husband give me the wink of a very satisfied man as I sat there staring at them. I just gave my icecream another lick, continued scratching my balls and pondered human existence.

ExMachina1000 · 19-09-2020 2:31pm

awec wrote: »

Everyone will go back to the old ways. Not even the most pessimistic crank believes this is going to be around forever.

Within a few years the covid aspect of this will all be yesterday’s news.

Of course. The way things were was "normal " human behaviour.
Once the risk of covid is removed things will most definitely return to as they were. The natural order

handlemaster · 19-09-2020 3:08pm

Pelezico wrote: »

I was so naive as a young man. The woman he referred to was a trainee national school teacher an only child of older well to do parents who owned a fair but of property.

Just recently, I was sitting in my car, eating an icecream and scratching my balls when I saw her get into the passenger seat of a four wheel drive 19 plate. She looked very affluent.

I could swear I saw the husband give me the wink of a very satisfied man as I sat there staring at them. I just gave my icecream another lick, continued scratching my balls and pondered human existence.

Don't worry about it your all living in the same **** town. LOL

beauf · 19-09-2020 3:39pm

Pelezico wrote: »

The public sector are delighted with current events...

Why not find out for yourself...

https://www.publicjobs.ie/en/

Wanderer78 · 19-09-2020 4:10pm

Mic 1972 wrote: »

I agree with that, but that was always on the table
These multinationals don't go down because of covid or recession, they go down when their product is no longer marketable.

mnc's rarely go bust, they just change, sme's are far more vulnerable, particularly now, many property related businesses, would in fact be a part of the sme sector, the sme sector is far more exposed here now, it desperately needs protectionism, similar to the protective measures in place for mnc's

Pelezico wrote: »

The public sector are delighted with current events. The deeper the recession, the better off they will be.

My father used to tell me 40 years ago to marry a laying hen, a teacher or public sector worker who would keep the money coming in during hard times.

have you asked all of these public sector workers, about this 'opinion' of yours?

if you re getting pleasure from seeing this recession gaining traction, theres actually something psychological wrong with you, and you need help, i severely doubt every single public sector worker is grinning at the moment, in fact, id be arrogant enough to say, virtually none of them are, and im also fairly sure, that most of them are probably sh1tting themselves at the moment.

the relationship between the public and private sectors is in fact a 'symbiotic' one, they both need each other, in order to be, i.e. if the private sector goes down, so to does the public sector!

Bubbaclaus · 19-09-2020 4:18pm

Wanderer78 wrote: »

if you re getting pleasure from seeing this recession gaining traction, theres actually something psychological wrong with you, and you need help

Sounds like a lot on this thread who seem to be praying for a property market collapse and gleefully telling everyone they are sitting on their cash ready to go.

bobbyy gee · 19-09-2020 4:20pm

Pelezico wrote: »

The public sector are delighted with current events. The deeper the recession, the better off they will be.

My father used to tell me 40 years ago to marry a laying hen, a teacher or public sector worker who would keep the money coming in during hard times.

did you marry that hen

bobbyy gee · 19-09-2020 4:22pm

handlemaster wrote: »

There is a prediction that property will drop 14% in the UK in 2021.

https://www.financialreporter.co.uk/finance-news/house-prices-to-fall-14-in-2021-cebr.html?HT=FR&TrackingCode=sm-buffer&utm_content=bufferb40ea&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

it might get worse than that with brexit
and covid
then a world recession

Wanderer78 · 19-09-2020 4:24pm

Bubbaclaus wrote: »

Sounds like a lot on this thread who seem to be praying for a property market collapse and gleefully telling everyone they are sitting on their cash ready to go.

there does seem to be an element of this occurring, its important to spare a thought for those that could, would, and simply will be negatively affected by this, because theres going to be many, including many landlords, this is the potential beginning of a serious downturn, this could go horribly wrong for all of us

bobbyy gee · 19-09-2020 4:27pm

property crash already started

https://eirigi.org/latestnews/2020/2/7/has-a-2020-property-crash-already-begun

Wanderer78 · 19-09-2020 4:28pm

bobbyy gee wrote: »

property crash already started

https://eirigi.org/latestnews/2020/2/7/has-a-2020-property-crash-already-begun

poor lenihan, he was driven into the grave, poor chap

antimatterx · 19-09-2020 4:29pm

Theres a house near me that has some massive potential. It was listed at 395K - the current bid is 490K. Insane stuff.

Bubbaclaus · 19-09-2020 4:30pm

bobbyy gee wrote: »

property crash already started

https://eirigi.org/latestnews/2020/2/7/has-a-2020-property-crash-already-begun

An article from February that appears to be on some sort of loony website. Must be 100% true.

bobbyy gee · 19-09-2020 4:30pm

handlemaster wrote: »

Don't worry about it your all living in the same **** town. LOL

if she was rich she would have moved to
Dublin 4

antimatterx · 19-09-2020 4:34pm

Wanderer78 wrote: »

poor lenihan, he was driven into the grave, poor chap

He had a tough end to his life. RIP.

Wanderer78 · 19-09-2020 4:36pm

antimatterx wrote: »

He had a tough end to his life. RIP.

thrown under the bus, poor chap

TheSheriff · 19-09-2020 4:49pm

antimatterx wrote: »

Theres a house near me that has some massive potential. It was listed at 395K - the current bid is 490K. Insane stuff.

Whereabouts is this ? Was the 395k just a low ball asking to get people sucked in ?

Has happened to us with many properties.

smellyoldboot · 19-09-2020 4:57pm

Wanderer78 wrote: »

thrown under the bus, poor chap

While never a FF voter/supporter. I despise them tbh. This lad got handed the short straw and was really landed in it.

Wanderer78 · 19-09-2020 4:59pm

smellyoldboot wrote: »

While never a FF voter/supporter. I despise them tbh. This lad got handed the short straw and was really landed in it.

no honor amongst thieves!

handlemaster · 19-09-2020 5:13pm

bobbyy gee wrote: »

if she was rich she would have moved to
Dublin 4

More like out of Ireland

bobbyy gee · 19-09-2020 5:18pm

i see Dublin property price have dropped any one know percentage drop
https://www.propertypriceregister.ie/Website/npsra/PPR/npsra-ppr.nsf/PPR-By-Date&Start=1&Query=%5Bdt_execution_date%5D%3E=01/08/2020%20AND%20%5Bdt_execution_date%5D%3C01/10/2020%20AND%20%5Bdc_county%5D=Dublin&County=Dublin&Year=2020&StartMonth=08&EndMonth=09&Address=

bobbyy gee · 19-09-2020 5:24pm

TheSheriff wrote: »

Whereabouts is this ? Was the 395k just a low ball asking to get people sucked in ?

Has happened to us with many properties.

most property is over valued by estate agents what it's listed and what its going for is two different things in one part of country were there is lots of abandoned houses and no sales in area since 2018
auctioneer priced a house at 200k
then put it up to 215k now it's 275k

here's Dublin sold houses

https://www.propertypriceregister.ie/Website/npsra/PPR/npsra-ppr.nsf/PPR-By-Date&Start=1&Query=%5Bdt_execution_date%5D%3E=01/08/2020%20AND%20%5Bdt_execution_date%5D%3C01/10/2020%20AND%20%5Bdc_county%5D=Dublin&County=Dublin&Year=2020&StartMonth=08&EndMonth=09&Address=

Ursabear · 19-09-2020 5:38pm

1.3% it seems
Number of property deals down over 40% in July - CSO - RTE
https://www.rte.ie/amp/1165534/

mariaalice · 19-09-2020 5:48pm

Pelezico wrote: »

The public sector are delighted with current events. The deeper the recession, the better off they will be.

My father used to tell me 40 years ago to marry a laying hen, a teacher or public sector worker who would keep the money coming in during hard times.

Are there really people like that still around its both vulgar and creepy.

cnocbui · 19-09-2020 5:51pm

TheSheriff wrote: »

Whereabouts is this ? Was the 395k just a low ball asking to get people sucked in ?

Has happened to us with many properties.

bobbyy gee wrote: »

most property is over valued by estate agents what it's listed and what its going for is two different things in one part of country were there is lots of abandoned houses and no sales in area since 2018
auctioneer priced a house at 200k
then put it up to 215k now it's 275k

here's Dublin sold houses

https://www.propertypriceregister.ie/Website/npsra/PPR/npsra-ppr.nsf/PPR-By-Date&Start=1&Query=%5Bdt_execution_date%5D%3E=01/08/2020%20AND%20%5Bdt_execution_date%5D%3C01/10/2020%20AND%20%5Bdc_county%5D=Dublin&County=Dublin&Year=2020&StartMonth=08&EndMonth=09&Address=

Funny how property can be both always over valued and yet listed at below value to get people 'sucked in'.

Pelezico · 19-09-2020 5:58pm

mariaalice wrote: »

Are there really people like that still around its both vulgar and creepy.

The Germans have a name for it ....schadenfreude..joy at someone else's misfortune.

There must surely be nothing more satisfying than buying a house for 300k when your neihhbour paid 450k.

Wanderer78 · 19-09-2020 6:00pm

Pelezico wrote: »

The Germans have a name for it ....schadenfreude..joy at someone else's misfortune.

There must surely be nothing more satisfying than buying a house for 300k when your neihhbour paid 450k.

so whats wrong with the person thats gloating?

coolshannagh28 · 19-09-2020 6:17pm

Wanderer78 wrote: »

oh i completely disagree there, property is one of the main reasons for the rapid rise in both private and public debt, particularly private debt, and its clearly obvious in the data. once again, there also plenty of proof, historically, that rapidly growing private debt causes for more crashes, and far more serious crashes, as we ve recently experienced, yet again!

That's waffle until you back it up with data.

Wanderer78 · 19-09-2020 6:19pm

coolshannagh28 wrote: »

That's waffle until you back it up with data.

.............

Thespoofer · 19-09-2020 6:21pm

neutral guy wrote: »

God ways unknown.Simply keep holding and increasing your ammount of money and keep looking.

' Luck is when opportunity meets preparation '.

Wanderer78 · 19-09-2020 6:22pm

Thespoofer wrote: »

' Luck is when opportunity meets preparation '.

what about 'asymmetry of information'?

hometruths · 19-09-2020 6:24pm

Pelezico wrote: »

The Germans have a name for it ....schadenfreude..joy
at someone else's misfortune.

There must surely be nothing more satisfying than buying a house for 300k when your neihhbour paid 450k.

People said that in 2010. Then got new neighbours in 2012 who paid 200k!

Thespoofer · 19-09-2020 6:30pm

Wanderer78 wrote: »

what about 'asymmetry of information'?

That aswell.

pearcider · 19-09-2020 6:33pm

bobbyy gee wrote: »

property crash already started

https://eirigi.org/latestnews/2020/2/7/has-a-2020-property-crash-already-begun

Excellent and succinct article. The big boys are long gone leaving the average joe holding the bag. That’s because they are insiders with intimate knowledge of both banking activity and the central banks that govern them. Plus ça change.

TheSheriff · 19-09-2020 6:33pm

cnocbui wrote: »

Funny how property can be both always over valued and yet listed at below value to get people 'sucked in'.

We see it regularly, moreso since March.

For instance, park in Castleknock, most 3 bed semi's with minor decorative updating on the PPR for for ~420k.

Recently, one went up for 380k and we thought great, prices must be dropping.

We stopped bidding after 410k and i believe it went for 425k, although not yet on register.

Pink11 · 19-09-2020 6:45pm

Went to a viewing last week to a 3 bed terrace. Way smaller than average but very nice area tbf. House needed serious work too.

Asking for 360k. Was in middle of bidding war, was at 420k.

We both just looked at each other in shock and quickly exited! House wouldn’t be worth that money even in a boom! Couldn’t swing a cat

drogon. · 19-09-2020 7:09pm

Pelezico wrote: »

The Germans have a name for it ....schadenfreude..joy at someone else's misfortune.

There must surely be nothing more satisfying than buying a house for 300k when your neihhbour paid 450k.

I don't get this mentality. Sure person "B" bought the house at 450K, and person "A" might buy a similar house in the area for 300K in few years time. But what about when you include the average rent person "A" is going to spend from now until they can buy the same house for 300K ?

The average rent in Dublin is 2K a month, so in one year person "A" will pay €24,000 in rent alone, rather than paying off a mortgage. Now if Person "B" pays the same amount towards their mortgage they could easily save money on the long run by paying more towards their mortgage and saving on interest.

Mic 1972 · 19-09-2020 7:12pm

The property market is in a boom, for some reasons this isn't registering with people.
Asking prices aren't going up because people aren't ready match the offer, they are going up because houses are being sold at higher prices than last year

Irish Property Market 2020 Part 2

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