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20-10-2019, 21:58   #1
Mariomaker
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Selling and Brexit

Im trying to sell my apartment at the moment. It went up for sale mid September. Its located in south dublin.

My estate agent has said the market went dead mid September due to brexit uncertainty. Was told I would have to hang on till the mess is sorted out.

Im not sure if I am being told porkies ? Can anyone confirm if the housing market is dead at the moment?
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20-10-2019, 22:01   #2
SCOOP 64
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Iif its priced right it will sell, how many viewings?
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20-10-2019, 22:11   #3
Mariomaker
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Very Few. It did take the neighbours beside me a year to sell there place. But I do take the price into consideration and am thinking it might be priced to high but wont reduce the price until january as Brexit will be sorted then.
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20-10-2019, 22:14   #4
Atlantic Dawn
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Brexit may never happen. I'd think it's more indicative of the market here in general near max affordability. Brexit should actually be increasing demand rather than killing it.
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20-10-2019, 22:16   #5
Mariomaker
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My estate agent is also very small. If I moved to bigger one would it make a difference as they might have clients on there books?
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20-10-2019, 22:18   #6
SteM
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Very Few. It did take the neighbours beside me a year to sell there place. But I do take the price into consideration and am thinking it might be priced to high but wont reduce the price until january as Brexit will be sorted then.
So what makes your EA so sure that 1) brexit will be 'sorted' by January and 2) properties will start shifting once it is? Brexit might be the start of a huge economic downturn here.

If you think it's priced to high now then reduce it now, it might start getting viewers in at least.
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21-10-2019, 13:28   #7
Woshy
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We put our house on the market in June and it definitely has been quitter than we thought it would be. Tbh though I think a lot of estate agents (ours included) are just pricing stuff too high with all the new builds etc. The price we got for ours is what we initially thought we'd get when we decided to put the house on the market, but was well below the estate agent's initial asking price.
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21-10-2019, 13:34   #8
Kop On
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Brexit may never happen. I'd think it's more indicative of the market here in general near max affordability. Brexit should actually be increasing demand rather than killing it.
How do you think Brexit should be increasing demand?

In my experience it is causing people to be more cautious and adopt a "wait and see" approach. Wait and see what the impact is on the job market and housing market. Some people hoping (expecting) there's some level of a crash and they can pick up a house 50K cheaper than 12 months previously.
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21-10-2019, 13:40   #9
riclad
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Maybe people are waiting for brexit to go through,
and price,s may fall ,
i think house prices, will fall in rural area,s , area,s where the main industry is agriculture and tourism
its going to be harder to export anything to the uk,
there may be tariffs and border checks that did not exist when britain was in the eu.
Yes the market has slowed down in the past few months .
just google house prices fall ireland 2019
https://www.irishtimes.com/business/...ears-1.4016008
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21-10-2019, 14:02   #10
Claw Hammer
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My estate agent is also very small. If I moved to bigger one would it make a difference as they might have clients on there books?
Shouldn't make any difference. All properties are on the internet and prospective purchasers will find them easily, no matter who the agent is. The property market in Dublin is definitely gone soft in many categories. In a soft market it is often the small agents who know their patch who get sales concluded.
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21-10-2019, 14:09   #11
riclad
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As long as the property is on the internet people will find it.
the market is slowing down.
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21-10-2019, 15:32   #12
Mic 1972
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I'm looking at the 1 bed apt market at the moment, despite the market slowing down and the latest daft report showing negatives i still see very high prices for newly added apartments, the old ones are still there
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21-10-2019, 21:32   #13
riclad
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New apartments may built to a higher standard than old one,s ,
builders set the price before even starting the building,
they need to make a profit on all the units sold .
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23-10-2019, 21:26   #14
pj12332
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I am an agent working in Tallaght. I can confirm what the agent told you that the market usually recovers in September after a quiet August (holidays/kids back in school) but it has not. It has remained slow and usually dies off again in late November. It might be the case that the remainder of the year is quiet.

But when it comes to selling it really just depends on each property. An easy example can be seen is a listing we had in Woodstown and another in The Hardwicke D7. Woodstown property was absolutely beautiful and in an extremely sought after area. But we just had no one turn up for viewings. People apprehensive to spend. It's sale agreed now but took months longer than we would have thought.

On the other hand the apartment in the Hardwicke I listed in August and it actually closed yesterday. The entire sales process was complete in 60 days. That is extremely fast. It was 60 days just to sale agree the Woodstown property. Every property is heterogeneous or unique. It just depends if the timing is right when the right buyer comes along. What area is your apartment in out if interest? Demand in Some areas have dropped off a lot more than others.

Paul
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