Houses to nose dive to appropriate levels.

Zamboni

Highly Salami wrote: »

Um, that doesn't seem vastly overvalued for that house, it would have sold for much more a few years ago!

You don't think Half of One Million Euros is an overvalued price for a 3 bed semi-detached house in a small city on an island on the peripherals of Europe?

EricPraline

Highly Salami wrote: »

Um, that doesn't seem vastly overvalued for that house, it would have sold for much more a few years ago!

On what basis isn't it over-valued? House needing complete refurbishment in middle-of-the-road Dublin suburb with serious traffic problems, long garden but appears to have a poor aspect judging by the photos. Located in the capital of a county that has only recently been forced to accept an IMF bailout, with defunct banks that are unwilling/unable to lend.

Making comparisons to bubble prices is a poor way of judging value. A comparison to pre-2001 prices might be more apt.

fred252

EricPraline wrote: »

On what basis isn't it over-valued? House needing complete refurbishment in middle-of-the-road Dublin suburb with serious traffic problems, long garden but appears to have a poor aspect judging by the photos. Located in the capital of a county that has only recently been forced to accept an IMF bailout, with defunct banks that are unwilling/unable to lend.

Making comparisons to bubble prices is a poor way of judging value. A comparison to pre-2001 prices might be more apt.

i know its templeogue but that house is on the terenure side not too far from bushy park. that house is around the corner from the fortfield road/park/ave addresses which are reasonably well sought after. have a look at this on fortfield road;

http://www.myhome.ie/residential/brochure/33-fortfield-park-terenure-dublin-6/359235

they are seriously taking the piss at 850K mind you.

hardly merits "middle-of-the-road Dublin suburb". however i'm not questioning the fact that it is well overvalued.

iguana

fred252 wrote: »

hardly merits "middle-of-the-road Dublin suburb". however i'm not questioning the fact that it is well overvalued.

Of course it's middle of the road. I live right around the corner from there, on a much, much nicer road but it's just one nice pleasant area in a city which has many nice pleasant areas (as most cities do). It's the same as, or less desirable than, Clonskeagh, parts of Rathfarnham and Churchtown, Mount Merrion, Monkstown, Blackrock, Rathgar, Ranelagh, Darty, Milltown, Donnybrook, Dalkey, Killiney, Ballsbridge, Clontarf, Howth, Malahide, Portmarnock, Sandymount, etc.

Don't get me wrong, the village end of Templeogue is a lovely area. It's safe, it's reasonably close to town, it has really good facilities and Bushy Park is certainly very nice, but it's not that special at all. There is this really weird idea in Dublin that any vaguely middle class area is "premier." It's not, only a small few areas can be premier, Templeogue is the very definition of middle of the road.

needmore

Has anyone seen this website?

check out this link: http://offsetdebt.net/

Is it possible??

goodview

I heard on the radio last week that some areas in the country will need to increase their housing stock within a year to satisfy demand!! How can this be? He did also say that counties such as Leitrim and Longford have enough stock to do for 12 years or something but he said for example that Cork County (excluding Mallow area) will need more building in about 6 months. I presume this has to be good news for property and construction sectors as long as credit is available but with all our emigration and current abundance of residential buildings can this possibly be true?

I am thinking things will actually get worse over the next 6 months before we will see significant improvements economically as I feel Fianna Fail have just been plugging the holes and leaving a serious work load ahead for the next government to repair. So does anyone see the need for more development within the next year anywhere in Ireland?

musharra

Chipboard wrote: »

+2

I mentioned to an auctioneer around 12 months ago that we might be interested in a house we were viewing if the seller came down to €270k. He said that the seller would never agree to that as it cost him more than that to build it.

...the above is something I've also had experience of, and it adds to the suggestion earlier that EA's are trying to keep prices up. The line they give you over the phone "..ah sure they wont accept that"....instead of hearing "yes sir/madam I will present your offer and get back to you"

There's has been plenty written on boards about EA's so no point resurrecting those points...but while estate agents have a vested interest in getting the maximum price over getting a sale, this will remain.

Its always better to deal with the owner, cash is king...always was.:cool:

musharra

Permanent TSB ramping interest rates by up to 3% (on fixed rates) today...as predicted!



Whats this about these bank of scotland Ireland doing 'write off' of mortgages... Its only a small amount as I understand it but will I get a write off from my ESB bill and my car tax, rent, ...Gambling debt...:mad:

fred252

iguana wrote: »

Of course it's middle of the road. I live right around the corner from there, on a much, much nicer road but it's just one nice pleasant area in a city which has many nice pleasant areas (as most cities do). It's the same as, or less desirable than, Clonskeagh, parts of Rathfarnham and Churchtown, Mount Merrion, Monkstown, Blackrock, Rathgar, Ranelagh, Darty, Milltown, Donnybrook, Dalkey, Killiney, Ballsbridge, Clontarf, Howth, Malahide, Portmarnock, Sandymount, etc.

Don't get me wrong, the village end of Templeogue is a lovely area. It's safe, it's reasonably close to town, it has really good facilities and Bushy Park is certainly very nice, but it's not that special at all. There is this really weird idea in Dublin that any vaguely middle class area is "premier." It's not, only a small few areas can be premier, Templeogue is the very definition of middle of the road.

i suppose it depends on your definition of "middle of the road". the areas you listed are definitely at the upper end of the dublin market.

danbohan

goodview wrote: »

I heard on the radio last week that some areas in the country will need to increase their housing stock within a year to satisfy demand!! How can this be? He did also say that counties such as Leitrim and Longford have enough stock to do for 12 years or something but he said for example that Cork County (excluding Mallow area) will need more building in about 6 months. I presume this has to be good news for property and construction sectors as long as credit is available but with all our emigration and current abundance of residential buildings can this possibly be true?

I am thinking things will actually get worse over the next 6 months before we will see significant improvements economically as I feel Fianna Fail have just been plugging the holes and leaving a serious work load ahead for the next government to repair. So does anyone see the need for more development within the next year anywhere in Ireland?

Leitrim and Longford have enough stock to do for 120 years

gigino

danbohan wrote: »

Leitrim and Longford have enough stock to do for 120 years

simple solution. The government promised decentralisation in 2003, which did not materialise. Development was built in many areas on the assurance of the government then that decentralisation would happen on the scale it promised.

The solution now is that if people want social / local authority housing, they should be offered it in lovely picturesque leitrim / longford.;)

It will do a little to help solve the congestion / overcrowding / traffic proplems in Dublin etc too.

Much cheaper and more environmentally friendly than building more houses in Dublin, Cork etc.

John Mason

Zamboni wrote: »

You don't think Half of One Million Euros is an overvalued price for a 3 bed semi-detached house in a small city on an island on the peripherals of Europe?

plus the fact that house looks like it needs to be gutted, probably new wiring, definately plaster, kitchen bathrooms, windows.

hugely overpriced

iguana

fred252 wrote: »

i suppose it depends on your definition of "middle of the road". the areas you listed are definitely at the upper end of the dublin market.

No they aren't. A few that I mentioned would be at the top. Parts of Ballsbridge, Ranelagh, Rathgar, Howth and Dalkey, but that's pretty much it. The rest are just nice suburbs. There are too many nice pleasant areas in my first list to constitute the "upper end" of such a small city.

fred252

iguana wrote: »

No they aren't. A few that I mentioned would be at the top. Parts of Ballsbridge, Ranelagh, Rathgar, Howth and Dalkey, but that's pretty much it. The rest are just nice suburbs. There are too many nice pleasant areas in my first list to constitute the "upper end" of such a small city.

ok its the definition of "middle of the road" that's the issue. it seems your definition is that everything from about 5% - 95% (0 % being the lowest average house price in dublin by area and 100 % being the highest) is middle of the road with the areas you listed above constituting the top 5 %. i would have said 40 % - 60 % should constitute middle of the road and that terenure etc. wouldn't fall into this range.

EricPraline

fred252 wrote: »

i suppose it depends on your definition of "middle of the road". the areas you listed are definitely at the upper end of the dublin market.

Agreed, but meaning no disrespect, I wouldn't put Templeogue in that list. It's a pleasant area that's beside another pleasant area (Terenure) that's beside an affluent desirable area (Rathgar). On the basis of adjacency, you could call half the suburbs of Dublin desirable. That's not to detract from the area at all, but simply something to consider when you're talking about value.

robd

gigino wrote: »

simple solution. The government promised decentralisation in 2003, which did not materialise. Development was built in many areas on the assurance of the government then that decentralisation would happen on the scale it promised.

The solution now is that if people want social / local authority housing, they should be offered it in lovely picturesque leitrim / longford.;)

It will do a little to help solve the congestion / overcrowding / traffic proplems in Dublin etc too.

Much cheaper and more environmentally friendly than building more houses in Dublin, Cork etc.

To hell or to Leitrim. I like it.

fred252

EricPraline wrote: »

Agreed, but meaning no disrespect, I wouldn't put Templeogue in that list. It's a pleasant area that's beside another pleasant area (Terenure) that's beside an affluent desirable area (Rathgar). On the basis of adjacency, you could call half the suburbs of Dublin desirable. That's not to detract from the area at all, but simply something to consider when you're talking about value.

yes, i didn't put templeogue in that list either. i was discussing this particular house.

the house in question has an address in templeogue but is about 50 yards from houses with addresses in the nicer part of terenure. now if you compared it to a similar house on the far side of templeogue, near greenhills say, you'll find this house is a lot more valuable. by the same token you could compare this house to one with an address in terenure but which is 50 yards from kimmage and find this house is a lot more valuable eventhough the address is templeogue.

Unrealistic

goodview wrote: »

I heard on the radio last week that some areas in the country will need to increase their housing stock within a year to satisfy demand!! How can this be? He did also say that counties such as Leitrim and Longford have enough stock to do for 12 years or something but he said for example that Cork County (excluding Mallow area) will need more building in about 6 months. I presume this has to be good news for property and construction sectors as long as credit is available but with all our emigration and current abundance of residential buildings can this possibly be true?

I am thinking things will actually get worse over the next 6 months before we will see significant improvements economically as I feel Fianna Fail have just been plugging the holes and leaving a serious work load ahead for the next government to repair. So does anyone see the need for more development within the next year anywhere in Ireland?

There was a report about Galway last week along these lines but that was published by the CIF and was total self serving bull$hit. I can only assume that they were applying some assumption about historical demand with out taking into account the fact that no one is buying because they are sitting watching their pay packet shrinking and the banks aren't lending anyway.

EricPraline

gigino wrote: »

simple solution. The government promised decentralisation in 2003, which did not materialise.

It didn't materialise because it didn't work. Why do you think it would make sense to ship more people to locations where there is already high unemployment? Are you trying to create rural ghettos instead of urban ones?