House prices in Charlesland.

fishdog

And the gloom merchants will always say and think that anyone with a positive outlook is dillusional and divorced from reality. Gee! I must be missing out on so much.

I see no gloom. Many people may now have a chance to own their first home that would not otherwise. When things were crazy for too long and it mainly benefited the fat cats only. If you own 1 house and it is worth 1,000,000 or 500,000 it makes little difference because everything else will be priced accordingly. If you have sevral houses chance are you have a few bob anyway!

It is not a big deal. In another sense it might just push up building standards which have dropped alot in recent times.

Hammiepeters you are essentially saying the same thing as me (small drop in house prices... not the end of the world) yet you insist I am being gloomy about it. I find this hard to understand.

Wineman

mikedragon32 wrote:

The point, Wineman, is that Jackal asked how long it takes to walk from Charlesland to the village. 20 minutes was the answer.

[edit]Damn, Eoin. That's twice you've pipped me to it today![/edit]

Sorry, I took it up wrong, thought it was a dig at how long it takes us to walk to the village. Im a bit trigger happy!:o

Hammiepeters

fishdog wrote:

I see no gloom. Many people may now have a chance to own their first home that would not otherwise. When things were crazy for too long and it mainly benefited the fat cats only.(I AM NOT A FAT CAT. ARE YOU? AND THE FAT CATS WILL LOVE A RENTAL BOOM) If you own 1 house and it is worth 1,000,000 or 500,000 it makes little difference because everything else will be priced accordingly. YES I AGREE. UNLESS YOU MOVE TO A CHEAPER MARKET(AUTRALIA MAYBE)If you have sevral houses chance are you have a few bob anyway!

It is not a big deal. In another sense it might just push up building standards which have dropped alot in recent times.(MAYBE IT WILL FISH, MAYBE IT WILL)

Hammiepeters you are essentially saying the same thing as me (small drop in house prices... not the end of the world) yet you insist I am being gloomy about it. I find this hard to understand.

Sorry that you see it that way. But you have yet to quote one optimistic forecast such as 2% drop for wicklow and comm. counties this year but recovered in May.
And the stuff about FTBs? Is it really harder for them than it was for you? They were still buying houses at the peak.

fishdog

Hammiepeters wrote:

Sorry that you see it that way. But you have yet to quote one optimistic forecast such as 2% drop for wicklow and comm. counties this year but recovered in May.
And the stuff about FTBs? Is it really harder for them than it was for you? They were still buying houses at the peak.

I have said the same as you, a small drop in prices! I said that others who forecast serious drops were "hysterical" in my opinion.

Yes it is has been much worse for many FTB's (and still is) than it was for me (£150K Greystones). I am sure we both know many who have been stuck renting for many years. For many it has not been possible to get a deposite together due to high rents. It is not unheard of for rents to cost the same as repayments on a house.

So yes I think this small drop is great!!! In fact I have yet to mention anything negative about a small drop.

iguana

fishdog wrote:

I have said the same as you, a small drop in prices! I said that others who forecast serious drops were "hysterical" in my opinion.

Hammiepeters is predicting a rise of 3-4% this year not a drop.

Hammiepeters wrote:

And the stuff about FTBs? Is it really harder for them than it was for you? They were still buying houses at the peak.

Yes of course it is. Have you ever heard of interest rates? On average every .25% rise knocks €15k off affordability and there have been 8 rises in the last 2 years. A buyer who might have borrowed €450k at 3% in 2005 can only borrow €342.5k at 5% but will still be repaying €1745pm. So while they now have no stamp duty to pay, saving €31.5k. They have €76k less to buy with than they did 2 years ago. And if they are not a ftb'r (which few people on that budget would be) they have €107.5k less to spend.

Therefore prices would have to fall that much below 2005 prices for a current buyer to be in the same position as someone who bought 2 years ago. And the chances are that they will, and probably more. But if you love your home so much that you have no plans to move anytime soon then it shouldn't bother you.

fishdog

Hammiepeters is predicting a rise of 3-4% this year not a drop.

True, but we both agree on the question asked at the start of the thread! Prices have dropped by a small amount! I seems we both agree that it is not reason to panic either.

Therefore prices would have to fall that much below 2005 prices for a current buyer to be in the same position as someone who bought 2 years ago. And the chances are that they will, and probably more. But if you love your home so much that you have no plans to move anytime soon then it shouldn't bother you.

I agree 100%

Hammiepeters

iguana wrote:

Hammiepeters is predicting a rise of 3-4% this year not a drop.



Yes of course it is. Have you ever heard of interest rates? On average every .25% rise knocks €15k off affordability and there have been 8 rises in the last 2 years. A buyer who might have borrowed €450k at 3% in 2005 can only borrow €342.5k at 5% but will still be repaying €1745pm. So while they now have no stamp duty to pay, saving €31.5k. They have €76k less to buy with than they did 2 years ago. And if they are not a ftb'r (which few people on that budget would be) they have €107.5k less to spend.

Therefore prices would have to fall that much below 2005 prices for a current buyer to be in the same position as someone who bought 2 years ago. And the chances are that they will, and probably more. But if you love your home so much that you have no plans to move anytime soon then it shouldn't bother you.

Of all the genuis out there talking about how hard it is on FTBs. There is not one skerrig of evidence to suggest home ownernship is down.Repossessions are in fact at an all time low.Lending criteria have never been so lenient.In your calculations you forgot tax reform in Decembers budget and how it offset some of the interest rate hikes. And you seem to assume that the prospective buyers wages have been static.

fishdog

Speaking as someone who has lived in other countries in Europe for several years I can tell you that it is normal after buying your first home to be able to:

1) Afford to eat out on a regular basis
2) Drive a reasonable car
3) Enjoy great holidays abroad
4) Afford nice furniture
5) Have a high standard of living

All of this working 39 hours a week with more days off than in Ireland. This is without having a top end job.

I’m sorry Hammiepeters but the cost of living in Ireland is crazy compared to Holland, France, Spain etc...

The most expensive thing here for most people is housing.

Perhaps you are one of the lucky ones who bought before the madness and it does not apply to you. But it applies to many others. This very point was discussed on the RTE news at 9 this evening.

Many have the "I’m alright Jack" attitude....

Repossessions may not be happening but we all know people struggling to make repayments that can not afford a quality life despite working very long hours.


I know this is off topic...... I am stopping now.

Hammiepeters

fishdog wrote:

Speaking as someone who has lived in other countries in Europe for several years I can tell you that it is normal after buying your first home to be able to:I WAS 15 YRS AWAY

1) Afford to eat out on a regular basis. ITS HARD TO DO IT HERE DUE TO DEPT. NAZIS. BUT ITS POSSIBLE
2) Drive a reasonable car. DO WE WANT THAT MANY MORE CARS?
3) Enjoy great holidays abroad. SO DO IRISH FOLK. TO A HUGE DEGREE.
4) Afford nice furniture. IRISH PEOPLE SEEM TO THROW OUT 2ND HAND
5) Have a high standard of living. IRISH STANDARDS ARE HIGH

All of this working 39 hours a week with more days off than in Ireland.THIS IS A FACT This is without having a top end job. SORRY THIS IS NONSENSE.

I’m sorry Hammiepeters but the cost of living in Ireland is crazy compared to Holland, France, Spain etc... FRENCH PEOPLE HAVE LOW % HOME OWNERSHIP. WORKING CLASS SPANISH WAGES ARE TERRIBLE.HOLLAND IS OVERPOPULATED.

The most expensive thing here for most people is housing.YES IT IS.

Perhaps you are one of the lucky ones who bought before the madness and it does not apply to you.NO I AM NOT. But it applies to many others. This very point was discussed on the RTE news at 9 this evening. IT'S BEEN ON THE NEWS PRETTY MUCH FOR THE LAST 5YRS.

Many have the "I’m alright Jack" attitude....DONT SEE HOW TALKING DOWN THE ECONOMY IS GOING TO HELP OTHER JACKS. I HAVE TWO SPECIAL NEEDS KIDS. I AM NOT ALLRIGHT.

Repossessions may not be happening but we all know people struggling to make repayments that can not afford a quality life despite working very long hours. IRISH QUALITY OF LIFE IS STILL GOOD, STOP WHINGING.


I know this is off topic...... I am stopping now.

Yes it is and we have yet to hear from anyone who has recieved far less for their house in Charlesland than they asked for.

iguana

Hammiepeters wrote:

Of all the genuis out there talking about how hard it is on FTBs. There is not one skerrig of evidence to suggest home ownernship is down.Repossessions are in fact at an all time low.Lending criteria have never been so lenient.In your calculations you forgot tax reform in Decembers budget and how it offset some of the interest rate hikes. And you seem to assume that the prospective buyers wages have been static.

Home-ownership is down, we've been hearing that for years. Lending criteria were never so lenient in 2005, that ship has now sailed and it is a lot harder for people to get money. And I was assuming the buyers in 2005 and the buyers in 2007 were completely different sets of people and the 2007 buyers were 2 years younger than the 2005 ones.

As for the whole "your wages go up" argument; yes they often do, but often at the time that your expenses go up with the arrival of children. My husband and I have a combined income of about €90k (we live in the UK so earn in £s), it's completely possible that in 2 years that we'll be earning €110k.

However that's when we plan to have children so either we lose my salary or pay for childcare along with paying for things that the child needs. Either way we will certainly have less money than we do now. (And we will be just finishing our fixed rate and facing a 30% hike to our mortgage payments - but that's another issue). Then a couple of years after that we were thinking of maybe having another child, and maybe a 3rd or even 4th.

And do you know what else? Maybe our salaries won't rise, maybe one of us will lose our job. Maybe we will wake up one day and be desperate to jack it in and re-train. People really shouldn't count on things they are yet to acquire especially when it comes to servicing high levels of debt.

fishdog

yet to hear from anyone who has recieved far less for their house in Charlesland than they asked for.

Here is what is a sample of what is happening......

DTinthegrove: We got our 3 bed end of terrace valued in Jan 2007 to get the best possible loan to value Mortgage!! It was valued at 540K, not planning on moving in this environment so we have equity which is "paper money" and i expect that to drop over the coming years.

I see now there are 4 or so of these properties in Charlesland for sale and not moving. If that was me and I needed to sell I would drop the price some where between 400-480k, it would probably sell then but who knows it might need to be lower.

and...

Eoin_s: When we sold our apartment last September, the prices were going right up to the stamp duty threshhold of 381K. If the changes to stamp duty had been in place at that time, then they may have been going for even more.

I do realise that the increase in price would not have been equal to the cost of the stamp duty, and the same amount of hard cash would not have been required up front, but it still increases the prices.

and....

evectm: The prices are dropping - but it dose seem to depend on the property your in .. We have sale agreed our 2 bed for 365k, but there are plenty of them still selling and for sale in and around the 370k. The 3 bed duplex's seem to have dropped in value big time while the 3 bed ground floors have gone up. Sure the 2 bed houses even thought they have dropped back to the 405k mark are now worth more then the 3bed duplex's. The 3 bed houses are up from 525-555k depending on a lot of factors. the choice is too big at the moment down there, its not a great place to live long term really and hence a lot of people are moving on. Be great if you bough early in 03-05 but anyone who bought in 06 will be looking long term at negitave equity i would think. We also have a 2 bed house in Wicklow town - for sale for 9 months we have dropped teh price by 50k and still have not sold it.. things are not looking good for the property market now..all wee can do is hope the levels will stay as they are and not continue to drop.. you have to admit there are an awful lot of houses/apts for sale for a small area.. does this not tell us something is wrong ?.. not snotty replies to me ( please ) !

Hammiepeters, I take it you are having trouble selling at the moment. I would not worry if I were you. The house you are trying to buy will drop in price also. This also means you will pay less stamp.:D

If you are not selling, so what???:D

Hammiepeters

iguana wrote:

Home-ownership is down, we've been hearing that for years. Lending criteria were never so lenient in 2005, that ship has now sailed and it is a lot harder for people to get money. And I was assuming the buyers in 2005 and the buyers in 2007 were completely different sets of people and the 2007 buyers were 2 years younger than the 2005 ones. ]
Heard on newstalk last night home ownership 76%. Given the change in our society this is remarkably high. And yes FTBs are younger than ever.

[As for the whole "your wages go up" argument; yes they often do, but often at the time that your expenses go up with the arrival of children. My husband and I have a combined income of about €90k (we live in the UK so earn in £s), it's completely possible that in 2 years that we'll be earning €110k. ] which is rather a lot

However that's when we plan to have children so either we lose my salary or pay for childcare along with paying for things that the child needs. Either way we will certainly have less money than we do now. (And we will be just finishing our fixed rate and facing a 30% hike to our mortgage payments - but that's another issue). Then a couple of years after that we were thinking of maybe having another child, and maybe a 3rd or even 4th.

[And do you know what else? Maybe our salaries won't rise, maybe one of us will lose our job. Maybe we will wake up one day and be desperate to jack it in and re-train. People really shouldn't count on things they are yet to acquire especially when it comes to servicing high levels of debt.]

Who would disagree with this. I hope that you get to live and work in Ireland. Its a great place in so many ways.

Hammiepeters

fishdog wrote:

Here is what is a sample of what is happening......



and...




and....




Hammiepeters, I take it you are having trouble selling at the moment. I would not worry if I were you. The house you are trying to buy will drop in price also. This also means you will pay less stamp.:D

If you are not selling, so what???:D

No I am not selling. And I still find most of your quotes from others posts above to be hysterical. Who would drop a 555k home to 400K?
If ahouse in Wicklow town was overvalued by 50K 9 months ago. So what?.
none of the above testify an actual drop in value of any actual property in Charlesland. Which was my point .

jackal

Wow the scale of the proposed development is huge.. the shopping centre, the loss of the golf course to more houses... What do you think the impact of this will be - adding value or taking away exclusivity - with regard to future house prices with all other things being equal (i.e. no huge crash accross the board unrelated to the area)?

fishdog

If you are not selling, what do you care?? I assume you are happy where you are, you dont feel ripped off with whatever price you paid, so what if the value goes up or down??? Why would it be so terrible for you if the price went down?

Hammiepeters

fishdog wrote:

If you are not selling, what do you care?? I assume you are happy where you are, you dont feel ripped off with whatever price you paid, so what if the value goes up or down??? Why would it be so terrible for you if the price went down?

I'm just peed off that something so cynically created by the the previous govt. has gained so much momentum. The stall was govt stimulated in an overheating market. The fact that many major contractors had withdrawn from residential and focused on infrastructure by such coincidence leads me to suspect that they were tipped off. EG. Sisk €38 profit for the year and now well and truly focused away from residential. The trigger at the back end of last year was McDowell's stamp duty statement. Since then every media asshole has honed in on every negative point with a view to creating a spin that we heading for a crash. I think Berties suicide statement last week was a sign of his exasperation at the momentum of negativity and its potential to damage our country.I share this exasperation. We have front page stories about unemplyment for instance. No real reason for this other than it gets peoples attention and feeds negative hysteria.

fishdog

Hammiepeters, there is a lot of truth in what you are saying. I feel the same about much of what you are saying. I remember a very different Ireland in the aerly 80's.....

We are both saying almost the same thing, except I think prices in the next year wil go a little down and you think they will go a little up.

The fact that many major contractors had withdrawn from residential and focused on infrastructure by such coincidence leads me to suspect that they were tipped off

I think they had a long time to plan for this. It had to happen sooner or later.

We have front page stories about unemplyment for instance.

Now that is crazy. Plenty of work there if you want it, skilled and unskilled.

DTinthegrove

Those houses keep flying out of the estate agents window don't they!! (NOT)

15 pages of houses for sale on the web site, mainly Charlesland, Applewood heights none seem to be moving! I don't understand, if people want to/need to sell in a market where supply is so good and prices are falling why don't they drop the price? (They may need to drop the price they had offered for the house they are moving to, if that was their intent)

Surely the fact that they aren't dropping prices means they don't really need to move and don't really need to sell, so why have your house on the market at all? Are there any estate agents out there on the front line who can enlighted us on this?

dubrunner

DTinthegrove wrote:

Those houses keep flying out of the estate agents window don't they!! (NOT)

15 pages of houses for sale on the web site, mainly Charlesland, Applewood heights none seem to be moving! I don't understand, if people want to/need to sell in a market where supply is so good and prices are falling why don't they drop the price? (They may need to drop the price they had offered for the house they are moving to, if that was their intent)

Surely the fact that they aren't dropping prices means they don't really need to move and don't really need to sell, so why have your house on the market at all? Are there any estate agents out there on the front line who can enlighted us on this?

Ridiculous assumption above.

There are many reasons people need to sell at a certain price, including the most important - THEY NEED IT FOR THEIR NEXT PURCHASE!

chump

Hammiepeters wrote:

I'm just peed off that something so cynically created by the the previous govt. has gained so much momentum. The stall was govt stimulated in an overheating market. The fact that many major contractors had withdrawn from residential and focused on infrastructure by such coincidence leads me to suspect that they were tipped off. EG. Sisk €38 profit for the year and now well and truly focused away from residential. The trigger at the back end of last year was McDowell's stamp duty statement. Since then every media asshole has honed in on every negative point with a view to creating a spin that we heading for a crash. I think Berties suicide statement last week was a sign of his exasperation at the momentum of negativity and its potential to damage our country.I share this exasperation. We have front page stories about unemplyment for instance. No real reason for this other than it gets peoples attention and feeds negative hysteria.

It really is breathtaking to read posts like this. You think;

1. the govt. cynically plotted to stall the housing market

something so cynically created by the the previous govt. has gained so much momentum. The stall was govt stimulated in an overheating market.

2. major contractors were tipped off that the housing market would 'stall'?

The fact that many major contractors had withdrawn from residential and focused on infrastructure by such coincidence leads me to suspect that they were tipped off

3. you think the media are propagating this story

Since then every media asshole has honed in on every negative point with a view to creating a spin that we heading for a crash.

4. You think reporting negative stories has the potential to damage the country

momentum of negativity and its potential to damage our country.I share this exasperation.

5. You don't think the media should put stories about rising unemployment on the first page of their papers

We have front page stories about unemplyment for instance. No real reason for this other than it gets peoples attention and feeds negative hysteria.

My opinion.

1. [snip]

2. Any contractors that had the brains to wind down residential construction before the downturn took place are managed by shrewd intelligent people. They should be applauded by their shareholders.
Also if your assertion is that contractors are stepping away from res. construction surely this will restrict supply and stop house prices crashing?

3. The media have been peddling vested interest garbage for years now. Statements from banks, from construction lobbying groups, from estate agents. You weren't complaining then. Now some media people seem to be reporting on less positive housing outlook and you're stomping your feet. Absurd.

4. You simply don't want the media to report anything 'negative' on housing? If they do - they may help propagate a housing crash? Is that really what you're saying?

5. Agai, you don't want the media to report on statistics that indicate a weakening labour market - because it is a negative news story?

[snip]flame[/snip]

[edit]chump, I've edited this post as you have chosen not to despite being requested to do so. Remember, attack the post, not the poster. I've sent a PM[/edit]

Hammiepeters

chump wrote:

It really is breathtaking to read posts like this. You think;

1. the govt. cynically plotted to stall the housing market


2. major contractors were tipped off that the housing market would 'stall'?


3. you think the media are propagating this story


4. You think reporting negative stories has the potential to damage the country


5. You don't think the media should put stories about rising unemployment on the first page of their papers


My opinion.

1. [snip]

2. Any contractors that had the brains to wind down residential construction before the downturn took place are managed by shrewd intelligent people. They should be applauded by their shareholders. THE RELATIONSHIP BETWEEN FF AND BUILDING INDUSTRY IS TOTALLY PROPER?.mCdOWELL ACTUALLY BELIEVED THAT STAMP DUTY COULD BE ABOLISHED?
Also if your assertion is that contractors are stepping away from res. construction surely this will restrict supply and stop house prices crashing?YES IT WILL. THE LESSON IN THE US WHERE SUPPLY EXCEEDED DEMAND AND REMAINED TOO STRONG WHEN THINGS STALLED TELLS US THIS. i HAVE NEVER SAID WE WERE FACING A CRASH.JUST THAT THE GOVT. BUTT OUT OF HOUSING MARKET.

3. The media have been peddling vested interest garbage for years now. Statements from banks, from construction lobbying groups, from estate agents.THIS IS NONSENSE. You weren't complaining then.YOU ASSUME? Now some media people seem to be reporting on less positive housing outlook and you're stomping your feet. Absurd. THE MEDIA HAVE A LESS THAN POSITIVE OUTLOOK ON EVERYTHING WOULD BE MY ASSERTION NOT HOSING SPECIFICALLY.

4. You simply don't want the media to report anything 'negative' on housing? If they do - they may help propagate a housing crash? Is that really what you're saying? NO THAT IS NOT WHAT I AM SAYING. I AM SAYING IT DAMAGES CONFIDENCE.TODAYS SUNDAY BUS. POST. 10,000 FACE NEG. EQUITY(HEADLINE)

5. Agai, you don't want the media to report on statistics that indicate a weakening labour market - because it is a negative news story? THERE YOU GO AGAIN. ''WEAKENING LABOUR MARKET''.IT WAS HARDLY HEADLINE NEWS BUT WAS GIVEN THAT TREATMENT. McLAUGHLINS OPTIMISTIC INTEREST RATE PROGNOSIS GOT PAGE 3.

[snip].

Your post rebukes everything and says nothing OTHER THAN THAT YOU SEEM TO AGREE WITH THE PROPOGATIONN OF NEGATIVE MATERIAL FACTUAL OR NOT.

DonJose

On the subject of house prices, the latest IPW report has seen several price reductions in Charlesland, notable the following

15 The Crescent, Charlesland
Old price : €429,000
New price : €379,000
Thats a €50,000 reduction or 11.66%, it is sale agreed.
http://www.myhome.ie/search/property.asp?id=319251

73 Charlesland Court, Greystones
Old price : €530,000
New price : €495,000
Thats a €35,000 reduction or 6.6%, it is still for sale.
http://www.myhome.ie/search/property.asp?id=301774

24 Charlesland Wood Charlesland Greystone
Old price : €405,000
New price : €385,000
Thats a €20,000 reduction or 4.94%, it is still for sale.
http://www.myhome.ie/search/property.asp?id=311687


There are several more price reductions in Charlesland among the 1,376 price reduction on IPW, see link below
http://www.irishpropertywatch.com/

Then there is the report on the SB Post that pp to 10,000 first-time buyers who bought homes over the past year are experiencing negative equity.
http://www.sbpost.ie/post/pages/p/story.aspx-qqqt=NEWS-qqqs=news-qqqid=25184-qqqx=1.asp

Plus 30,000 jobs will be lost in the construction sector in the next two to three years, according to Ulster Bank.
http://www.rte.ie/business/2007/0713/economy.html

Hammiepeters

DonJose wrote:

On the subject of house prices, the latest IPW report has seen several price reductions in Charlesland, notable the following

15 The Crescent, Charlesland
Old price : €429,000
New price : €379,000
Thats a €50,000 reduction or 11.66%, it is sale agreed.
http://www.myhome.ie/search/property.asp?id=319251

73 Charlesland Court, Greystones
Old price : €530,000
New price : €495,000
Thats a €35,000 reduction or 6.6%, it is still for sale.
http://www.myhome.ie/search/property.asp?id=301774

24 Charlesland Wood Charlesland Greystone
Old price : €405,000
New price : €385,000
Thats a €20,000 reduction or 4.94%, it is still for sale.
http://www.myhome.ie/search/property.asp?id=311687


There are several more price reductions in Charlesland among the 1,376 price reduction on IPW, see link below
http://www.irishpropertywatch.com/

Then there is the report on the SB Post that pp to 10,000 first-time buyers who bought homes over the past year are experiencing negative equity.
http://www.sbpost.ie/post/pages/p/story.aspx-qqqt=NEWS-qqqs=news-qqqid=25184-qqqx=1.asp

Plus 30,000 jobs will be lost in the construction sector in the next two to three years, according to Ulster Bank.
http://www.rte.ie/business/2007/0713/economy.html

All of the above listings are apartments. The original question applied to Houses in Charlesland. The IPW websites lists several apartments in Seaview,etc. One house in Charlesland Park reduced by 1.5%. Sunday Business Post. A headline like that doubtless sold many thousands of papers yesterday. Many people who never buy it bought it yestarday.Ulster Banks prognosis on employment is just one of many forecasts. Some upbeat, some downbeat.I'm sorry that I have to be pushing this ''glass is half full'' argument all the time. Interestingly the RE industry cites ''confidence issues'' as being a major factor in any stall/downturn.

mikedragon32

Hammie, there's a 3 bed house on my block that's been for sale for at least 6 months now and a two bed that (I think) has been withdrawn from the market, having been viewed by only two potential buyers in the time it was on the market (just before easter the sign went up).

I doubt very much if people buy the SBP because of one headline. SBP tends not to go for sensationalist headlines, and having read the article (I buy it every weekend, for the record), it did seem to be quite balanced in it's views. What I found staggering was the number of people who actually took up 100% in the last 18 months. What sort of financial advice were they getting and how could banks be so irresponsible?

DTinthegrove

dubrunner wrote:

Ridiculous assumption above.

There are many reasons people need to sell at a certain price, including the most important - THEY NEED IT FOR THEIR NEXT PURCHASE!

Bit sharp saying ridiculous assumption.

I suggested that if they can't sell and need to/want to they should reduce the price AND they should renegotiate the price of their next purchase down, if it was their intent to move on.

You say that there are many reasons why people need to sell at a certain price and I agree that might be the case. But if the market won't accept that price and they really need that price then they might as well take the house off the market for now.

Your house is only worth what the market will pay, not what you need to move on to the next purchase.

DonJose

Hammiepeters wrote:

All of the above listings are apartments. The original question applied to Houses in Charlesland.

Well the subject says "House prices in Charlesland", "House Prices" is a generalized term for property, be it houses or apartments. Anyway the prices of houses/apartments are dropping in Charlesland as seen in the IPW report, inflation is running at 5% and I just can't see prices in Charlesland rising by your anticipated 2-3% this year. This downturn/crash/soft land is nationwide.

EnoughSaid

The website: irishpropertywatch.com has detected 1,376 falls in asking prices on the myhome.ie website in the past three weeks alone. Nowhere, not even Charlesland, will be immune from the busrting of the property bubble! Detailed report is at:

http://irishpropertywatch.5gbfree.com/ipw_myhome10_150707_report.html

DTinthegrove

Enoughsaid....How dare you show factual evidence of falling asking prices, did you not know Charlesland/Greystones is in a little bubble and will escape this national trend with a 3-4% increase by the end of the year!! (just in case you are not sure, yes i am being sarcastic)

These are asking prices and I believe not many people are getting asking pice these days. Be careful Enoughsaid, before you know it you will be excuse of being a doom merchant.

I am sure their is a cartel going on,for example. There are now seven 3 bedroom houses €535-545. None sold, no one droping the price, no one seems to want/can afford to pay that kind of money, so why not drop the price!!? Start at €480 see what happens, never know they might get some interest.

Stamp duty has had little effect. Affordability and confidence are the key and both have been massively hit (in my humble opinion, not say i'm right just getting involved in the discussion before i'm call Dr Doom)

dubrunner

DTinthegrove wrote:

Enoughsaid....How dare you show factual evidence of falling asking prices, did you not know Charlesland/Greystones is in a little bubble and will escape this national trend with a 3-4% increase by the end of the year!! (just in case you are not sure, yes i am being sarcastic)

These are asking prices and I believe not many people are getting asking pice these days. Be careful Enoughsaid, before you know it you will be excuse of being a doom merchant.

I am sure their is a cartel going on,for example. There are now seven 3 bedroom houses €535-545. None sold, no one droping the price, no one seems to want/can afford to pay that kind of money, so why not drop the price!!? Start at €480 see what happens, never know they might get some interest.

Stamp duty has had little effect. Affordability and confidence are the key and both have been massively hit (in my humble opinion, not say i'm right just getting involved in the discussion before i'm call Dr Doom)

Again way too much time on your hands.

We know the market has stalled/slowed. There is no reason to keep reiterating the same point.

iguana

dubrunner wrote:

We know the market has stalled/slowed. There is no reason to keep reiterating the same point.

There is if somepeople are insistant on making like an ostrich.