Donegal house prices - Where are they going to go?

RodgerTheDoger

muffler wrote: »

That is your query and therefore the topic for debate.



That is the bulk of the post which was nothing more than a rant about planners and developers and which dragged this thread off topic and waffleman even conceded this point.



Perhaps you may want to read wafflemans comments again to determine if they are on or off topic. If you are anyone else wants to start a separate thread on planning then please do so.


Please read the forum charter where it will tell you not to argue with a mod on thread and also if you have a query regarding the moderation of this forum then feel free to PM me.

Planning and development of houses will always impact on the housing prices of an area - I think it is a fair point regardless, my question is where do we see house prices in the future going in donegal - Has the issue of Cowboy developers been stamped out? Will it happen again? All good questions to a wide specturm of possibilities that can impact on the housing prices in an area.

I think your "moderation" was not needed - If a comment was posted that had nothing to do house prices at all, fair enough I can see the justification of your post. Wafflemans suggesting he might have went slightly off topic was one thing, what did your agreement of it add to the thread? Better still what was the purpose of it?

donegalman1

Recent TV discussions on the matter, not necessarily relating to Donegal but rural Ireland in general, talk of poor planning in flood plains for example, and that new development guidelines and existing ones will have to be taken more seriously, perhaps meaning no new builds in certain areas. Also they speculate of poor planning leaving many houses unsellable, being demolished or even been used as Schools, community Centres etc.

If any of these type of scenarios ensued in Donegal then yes, planning is an issue.

At present banks are reluctant to lend, employment is going to be key and Donegal will struggle there.

In essence there are thousands interested in buying but will not get the chance. Finance will dictate house prices for some time.

No one in the Banks, Nama, Govt, Estate Agents etc can put a true reflection on where it will end up, its in their interest to talk it up but its unlikely any of us can answer the O.P.s question, we can however give as Donegal people an idea of what is influencing our thoughts on whether to do anything in the property market.

However, on a side note, sterling weakness makes Donegal less attractive as a holiday home destination and perhaps locals who were priced out of the market in holiday areas might now be able to afford property in these areas. This itself was a big driving force in alot of property prices in Donegal and therefore will result in some fall off, it also opens up the market for many

Senna

donegalman1 wrote: »

However, on a side note, sterling weakness makes Donegal less attractive as a holiday home destination and perhaps locals who were priced out of the market in holiday areas might now be able to afford property in these areas. This itself was a big driving force in alot of property prices in Donegal and therefore will result in some fall off, it also opens up the market for many

Very true, i often wonder what a nice holiday home will be worth down the line. With very little employment in tourist areas its hard to see any market at all for them, the target market from 3-10 years ago is gone and i doubt its coming back any-time soon. Can see many people having the extra money for a holiday home and once property tax comes in, its likely the second-home tax will rise into the thousand/s per year.
If a comparable house (no sea view, mile from beach in tourist area) in Letterkenny, Twin-Towns, Donegal town is worth say 150k, what would the holiday home be worth? €75k, €40k?
Doesn't really mater to me, unless its a fiver, i couldn't afford it.

crocro

RodgerTheDoger wrote: »

There maybe a post already somewhere about the price of houses and speculation on when they are going to bottom out, but I am only interested in houses in Donegal.

So my question is simple - I have been watching house prices fall over the last 12 months - I have seen some half in price.

Where do we see this going?
When will it bottom out?

What should be the average price of an average house? (I know it depends on the house but we can give examples)

27% of Donegal houses were counted as unoccupied at the last census in 2006. This is nearly double the national average. About 19,000 houses out of 70,000 were empty (and they took account of people who were away for the night but normally lived there). A lot of new houses were completed in Donegal after 2006

Why buy a holiday house for 120K when you can have 40 holidays for 3K a year with none of the hassle or costs of home ownership? The only reason to buy a holiday house in Ireland is the hope of capital appreciation. Or because you're very rich.

I stayed in Inishowen and it was full of recently completed empty holiday homes - no curtains up, obviously never lived in, built for a profit that will never happen.

Interest rates can only go one way now. Not a lot of jobs in Donegal. No more easy credit. No more dreams of getting rich from investing in houses. 2nd home tax already here, residential property tax and septic tank taxes on the horizon. Northern incomes well down with the fall in sterling. Income tax due to rise further.

So another 50% more to fall before flatlining for a decade. Big, hard-to-heat one-offs for 100K.

waffleman

RodgerTheDoger wrote: »

Wafflemans suggesting he might have went slightly off topic was one thing, what did your agreement of it add to the thread? Better still what was the purpose of it?

my thoughts exactly! unnecessary and annoying more than anything. I open the thread expecting an argument or some good information - instead all I find is a moderator acting the big man for no reason - but hey who am I to question a mod :rolleyes:

anyway that's the last I'm posting on it.

muffler

muffler wrote: »

Please read the forum charter where it will tell you not to argue with a mod on thread and also if you have a query regarding the moderation of this forum then feel free to PM me.

I dont or shouldn't have to remind people to post in accordance with the charter but I give everyone the opportunity of getting this back on topic but 2 of them refused to do so.

Thread locked.

muffler

waffleman wrote: »

I open the thread

And here was me thinking it was your alter ego who opened this thread. Strange?