House prices still falling?

lolo62

i always knew of laurel lodge as quite a wealthy neighbourhood! i grew up in lucan and had friends who lived around there, its a really well established community

very exciting for you, best of luck with it

pawnacide

Spiritofthekop wrote: »

Who said houses were not selling? houses will always get sold & purchased recession or not (we are back into another recession by the way in case you did not hear)

You keep saying all these things like "we are back to normal now" this IS IN YOUR OPINION by the way!

While ignoring all the signs of more property drops for 2012 and beyond!


http://www.rte.ie/news/2012/0323/economy-business.html

I am basing my opinions on my experience, Boards is not my full time job and I don't spend hours researching each post. I am based in a midlands town and pretty much know what is happening in each development in the area that is still in business. Houses are selling at pretty much the pre-boom rate in terms of both price and quantity sold.

I never once said house prices wouldn't fall further btw. Plz read posts.

zulfikarMD

donalderocitt wrote: »

Hi there,
Sorry for wading in but I was looking for some quick advice without starting a new thread. I've put in an offer of €172.5K for a house in Laurel Lodge which has been accepted.

Hi donalderocitt, is this offer for 3 bed semi-detached in laurel lodge? would you mind PM me link of house/apt you looking at? I am looking at some properties in laurel lodge, luttrellstown in D15 and just want to make sure I am on right track making an offer..

Thanks.

Spiritofthekop

More falls & predictions of more to come down the road.

http://www.irishtimes.com/newspaper/breaking/2012/0326/breaking20.html

Getting closer to Morgan Kelly's 80% prediction as every year/month passes.

washman3

Spiritofthekop wrote: »

More falls & predictions of more to come down the road.

http://www.irishtimes.com/newspaper/breaking/2012/0326/breaking20.html

Getting closer to Morgan Kelly's 80% prediction as every year/month passes.

Exactly. the same Morgan Kelly that was ridiculed by many "experts" including none other than the "great" Bertie who advised him to go commit suicide.:mad:

jack_pearse

Could it have finally have bottomed out?

http://www.daft.ie/report/

Also, reported in the indepenant, saying conditions are right for recovery...but ahve we heard this before

http://www.independent.ie/business/personal-finance/property-mortgages/property-market-boost-as-asking-prices-start-to-rise-3067988.html

smallerthanyou

jack_pearse wrote: »

Could it have finally have bottomed out?

http://www.daft.ie/report/

Also, reported in the indepenant, saying conditions are right for recovery...but ahve we heard this before

http://www.independent.ie/business/personal-finance/property-mortgages/property-market-boost-as-asking-prices-start-to-rise-3067988.html

The independent reporting of the figures in that report is funny. Lies, damn lie and statistics and all that. I personally think this is the start of dead cat bounce that will go with a lot of FTBs trying to get mortgage interest relief and at this point next year we'll be lower than we are now as noone has a reason to buy.

Zamboni

jack_pearse wrote: »

Also, reported in the indepenant, saying conditions are right for recovery...but ahve we heard this before

http://www.independent.ie/business/personal-finance/property-mortgages/property-market-boost-as-asking-prices-start-to-rise-3067988.html

I hate Charlie Weston.

smallerthanyou wrote: »

The independent reporting of the figures in that report is funny. Lies, damn lie and statistics and all that. I personally think this is the start of dead cat bounce that will go with a lot of FTBs trying to get mortgage interest relief and at this point next year we'll be lower than we are now as noone has a reason to buy.

I think you are right.
There will be a wave of people who have deposits saved up now over the last 4 years and they will buy now to get the reliefs.
I won't be joining them.

Zamboni

jack_pearse wrote: »

Could it have finally have bottomed out?

http://www.daft.ie/report/

I know of a house in South Dublin listed on Daft with an asking price of €230,000 and that data is contained in that report.
That house actually sold two weeks ago for €167,500.

That is one house. Imagine what the actual figures are.

gurramok

Only the Indo has proclaimed a recovery! The rest have not, rest being RTE, breakingnews.ie and the Irish Times. Vested interest at play.
http://www.irishtimes.com/newspaper/finance/2012/0402/1224314232490.html

Irishtimes wrote:

HOUSE PRICES fell by 7.2 per cent in the first quarter of 2012, the fastest rate of decline in three years, according to figures from property website MyHome.ie

However, first-quarter figures released by Daft.iefound that prices fell by 1.4 per cent during the same period, compared to 8 per cent in the last three months of 2011, suggesting a stabilisation in the market.

The discrepancy reflects the different sets of data used by each provider. While MyHome.iebases its research on all the properties available on its website, Daft.ieonly uses properties that have been listed for the first time during the period in question, or have changed their asking price.

Ritchi

How many times has the Independent claimed that we've hit the bottom before?

Genuine question.

L1011

Daft's claim and what the sites tracking Daft show don't add up.

noxqs

Only a fool takes advice from the Irish Times.

Are you kidding me? They've been saying the property market turned a corner since 2008. Every. Month.

They also were the biggest cheerleaders for the bubble - all the way up and trying to mask the issue when it popped and all the way down. And here we are. And we'll be here again next CSO report when they again say the bottom has been reached after further month over month drops..

daltonmd

gurramok wrote: »

The discrepancy reflects the different sets of data used by each provider. While MyHome.iebases its research on all the properties available on its website, Daft.ieonly uses properties that have been listed for the first time during the period in question, or have changed their asking price.
http://www.irishtimes.com/newspaper/finance/2012/0402/1224314232490.html

That's just crazy when you think about it - it does not reflect what is going on in the property market - only what's going on within DAFT.

gurramok

Here's one that went from 190k to 199k within a day of being listed in February. Needless to say its still for sale today. Guess this is what Daft are on about? Its pathetic.
http://www.daft.ie/searchsale.daft?id=637337

Spiritofthekop

Im going to put up two links to two houses as soon as they go sale agreed which should be this week and ill tell you what they both went for.

Both are in supposed very sought after areas (Foxroxck & leopardstown) and one will sell 75,000 under the asking price of 480,000 on daft/myhome and the other is pretty much sold 65,000 under asking price of 490,000 on daft/myhome. Both nice 4 bedrooms ready to move straight into.

Both should be sale agreed very soon.

house prices on the way up in South Dublin my ass!

The Independent & front page today should be ashamed of themselves, the radio & the rest of the media did not even bother with it, it was so pathetic & transparent.

washman3

Maybe everyone is in a bouyant mood today after their weekend of backslapping and triumphalism at Johnny Ronan's Convention Centre.
House prices are going in one direction only, DOWN. and rapidly at that.;)

jmayo

smallerthanyou wrote: »

The independent reporting of the figures in that report is funny. Lies, damn lie and statistics and all that. I personally think this is the start of dead cat bounce that will go with a lot of FTBs trying to get mortgage interest relief and at this point next year we'll be lower than we are now as noone has a reason to buy.

I have been wondering when we might have a dead cat bounce ?

gurramok wrote: »

Only the Indo has proclaimed a recovery! The rest have not, rest being RTE, breakingnews.ie and the Irish Times. Vested interest at play.
http://www.irishtimes.com/newspaper/finance/2012/0402/1224314232490.html

RTE actually had this on Morning Ireland and the guy did draw attention to fact that Myhome's report showed 7% odd decrease since it was drawn from all properties listed rather than new listings.

Even guy from Daft had to admit this was only asking prices.

daltonmd wrote: »

That's just crazy when you think about it - it does not reflect what is going on in the property market - only what's going on within DAFT.

Well it was a Daft report and is just based on Asking Prices.
And as we know for a long time now Asking Prices do not equate to Sales Prices much like in a Moroccan souk.

This is the problem with fact we do not have any meaningful register of property transactions.

Actually just thinking about this, why can't the stamp duty records be used to give indication of the sales prices ???

washman3 wrote: »

Maybe everyone is in a bouyant mood today after their weekend of backslapping and triumphalism at Johnny Ronan's Convention Centre.
House prices are going in one direction only, DOWN. and rapidly at that.;)

Feck I didn't know Enda set the headlines for the Indo, the newspaper group after all that got one b ahern elected. :rolleyes:

noxqs

Month over month numbers are meaningless.

The standard of looking at two consecutive quarters for recessions should also be applied to the housing market (or any large market for that matter). Given how illiquid housing stock is in general (weeks/months of time on the market) this is the only thing that makes sense.

Yet some commentators are falling over themselves if there is a slight blip in the curve that suggests otherwise, as if the house prices are going to sky rocket back to peak 'any day now, Joe'. I can not fathom this line of reasoning and it is being spewed by news papers and realtors and it might suck in the same bunch of people who bought all the way to peak - because we know theres no shortage of those in these lands.

The last thing Ireland needs is house prices rising faster than inflation ever again.

stepbar

I have yet to see a family home (IMO min 3 bed semi d) for sale in a middle class area in Dublin which could be purchased on a 5 times multiplier by someone on the average industrial wage.

There lies the problem - Example

I don't think I'm being unreasonable to believe that one should be able to pick up a decent house in Stillorgan / Stepaside / Sandyford for c €150 - €175k.

FGR

Wait.

Shouldn't we all wait until actual selling prices are published? Only then will we begin to have a vague understanding as to whether this floor has been reached.

Mr. Loverman

stepbar wrote: »

I have yet to see a family home (IMO min 3 bed semi d) for sale in a middle class area in Dublin which could be purchased on a 5 times multiplier by someone on the average industrial wage.

There lies the problem - Example

I don't think I'm being unreasonable to believe that one should be able to pick up a decent house in Stillorgan / Stepaside / Sandyford for c €150 - €175k.

I think part of the problem is Irish people think they should spend the maximum amount possible on their property, rather than everyone agreeing it makes no sense to be horribly in debt and paying a more comfortable price.

leahyl

Have been watching this house for some time now (about year and half I'd say) and it has gone from 250k to 189k. Still way overpriced like - it's like watching paint dry waiting for it to come down another 40k (at least!:D)

http://www.daft.ie/searchsale.daft?id=552129

Zamboni

stepbar wrote: »

I have yet to see a family home (IMO min 3 bed semi d) for sale in a middle class area in Dublin which could be purchased on a 5 times multiplier by someone on the average industrial wage.

There lies the problem - Example

I don't think I'm being unreasonable to believe that one should be able to pick up a decent house in Stillorgan / Stepaside / Sandyford for c €150 - €175k.

South Dublin(within the M50)/North Wicklow is the most desireable part of the country to live in so why would an average earning couple get to live there?
Having said that, I think average earning couples who have been playing their cards right and are smarter than the average bear should be in a position to take advantage of any overshoot in the price decline.

jmayo

stepbar wrote: »

I have yet to see a family home (IMO min 3 bed semi d) for sale in a middle class area in Dublin which could be purchased on a 5 times multiplier by someone on the average industrial wage.
...
I don't think I'm being unreasonable to believe that one should be able to pick up a decent house in Stillorgan / Stepaside / Sandyford for c €150 - €175k.

Ah but shure isn't Foxrock and Blackrock next door. :rolleyes:

Zamboni wrote: »

South Dublin(within the M50)/North Wicklow is the most desireable part of the country to live in so why would an average earning couple get to live there?
Having said that, I think average earning couples who have been playing their cards right and are smarter than the average bear should be in a position to take advantage of any overshoot in the price decline.

Ehh except in that area there are some right sh**holes.
Between Foxrock/Leopardstown and Stepaside is a certain cr**hole.
Yet people appear to think their prices should be way way higher than the rest of the country.
There is a fair amount of old corporation housing in Stepaside and Sandyford.
Yet the owners/sellers believe that because they are in South County Dublin their basic house should be more than anywhere else since afterall leafy Foxrock is a couple of miles away.

It is the same as someone in Ringsend claiming that their two up two down is worth a massive amount because they share a postal code with Shresbury Road. :rolleyes:

The same goes for areas of North Wicklow where some sellers believe that their standalone house in the ar**hole of nowhere, that get snowed in with the first fall of snow, is worth 100% more than a similar sized property placed along a motorway outside Gorey.

There is a lot of realism yet to enter the market in South Dublin/North Wicklow.

Zamboni

jmayo wrote: »

Ehh except in that area there are some right sh**holes.
Between Foxrock/Leopardstown and Stepaside is a certain cr**hole.
Yet people appear to think their prices should be way way higher than the rest of the country.
There is a fair amount of old corporation housing in Stepaside and Sandyford.
Yet the owners/sellers believe that because they are in South County Dublin their basic house should be more than anywhere else since afterall leafy Foxrock is a couple of miles away.

It is the same as someone in Ringsend claiming that their two up two down is worth a massive amount because they share a postal code with Shresbury Road. :rolleyes:

The same goes for areas of North Wicklow where some sellers believe that their standalone house in the ar**hole of nowhere, that get snowed in with the first fall of snow, is worth 100% more than a similar sized property placed along a motorway outside Gorey.

There is a lot of realism yet to enter the market in South Dublin/North Wicklow.

There are certainly dumps in that area but (for right or wrong) overall that area does cover some of the most desireable parts of the country.
I do agree with you though that there is still a lot of realism required in the pricing in those area.

scrawnybawny

Spiritofthekop wrote: »

Im going to put up two links to two houses as soon as they go sale agreed which should be this week and ill tell you what they both went for.

Both are in supposed very sought after areas (Foxroxck & leopardstown) and one will sell 75,000 under the asking price of 480,000 on daft/myhome and the other is pretty much sold 65,000 under asking price of 490,000 on daft/myhome. Both nice 4 bedrooms ready to move straight into.

Both should be sale agreed very soon.

s.o.t.k.,
any developments on these 'sales'?

Zamboni

This just in - House prices are (allegedly) undervalued by up to 26%...

http://www.irishtimes.com/newspaper/breaking/2012/0430/breaking29.html


The inclusion of this little gem by Dan O'Brien is embarrassing.

The bank notes the affordability of housing has improved very significantly, particularly for first time buyers

kennyb3

Zamboni wrote: »

This just in - House prices are (allegedly) undervalued by up to 26%...

http://www.irishtimes.com/newspaper/breaking/2012/0430/breaking29.html


The inclusion of this little gem by Dan O'Brien is embarrassing.

It's a real gem!

My favourite bit:

'If correct, property prices could rise suddenly and significantly if the causes of the undershooting in prices were removed'.

As i said on another site it reminds me of the saying 'If my aunty had balls she'd be my uncle'

Zamboni

kennyb3 wrote: »

It's a real gem!

My favourite bit:

'If correct, property prices could rise suddenly and significantly if the causes of the undershooting in prices were removed'.

Aye, they are simply stating possibilities rather than probabilities.