Buying 2014

Mr.McLovin

Is there any incentives to buy a house in 2014 like 2012's MIR or 2013's exemption from property tax for 3 years?

Woodville56

Mr.McLovin wrote: »

Is there any incentives to buy a house in 2014 like 2012's MIR or 2013's exemption from property tax for 3 years?

Is there any chance that the RPT 3 year exemption will be carried forward to 2014 house purchases ?

runawaybishop

Mr.McLovin wrote: »

Is there any incentives to buy a house in 2014 like 2012's MIR or 2013's exemption from property tax for 3 years?

The no LPT isn't really an incentive, its minuscule.

stevedublin

Possible lower property prices as repo's etc. increase supply.

moxin

Govt interference:

2012 had the surge of buyers for the ending of the MIR
2013 *might* have a surge of buyers for the LPT exemption though its alot smaller than the above
2014...what else can the govt think of to interfere in the market? Budget day has passed so there is hope that there is nothing coming.

Zamboni

Mr.McLovin wrote: »

Is there any incentives to buy a house in 2014 like 2012's MIR or 2013's exemption from property tax for 3 years?

If you don't buy in 2014 - you will never buy. The rich will simply sell their houses to each other and laugh and the poor will be housed by the state.
Private tenants in the middle will be tossed from landlord to landlord like cats toying with a doomed mouse. One drop of blood at a time.

:pac:

Ardent

The Mrs and I will be looking to purchase a family home in 2014. Unless a bit of sanity returns to the Dublin market early next year, we will either purchase outside Dublin or rent for a year.

Supply is the biggest problem right now - when we went looking at potential areas recently we couldn't get over the lack of for-sale signs. This needs to change.

Mr.McLovin

stevedublin wrote: »

Possible lower property prices as repo's etc. increase supply.

how likely is that though? seems the strategy is to cherry pick houses that may have equity and set examples than to actually tackle that problem

I could see them building again before that becoming a factor but I'm no expert as seen in a previous thread

moxin wrote: »

Govt interference:
2014...what else can the govt think of to interfere in the market? Budget day has passed so there is hope that there is nothing coming.

The interference for 2014 might be to keep strangling the supply either by NAMA or the banks, seems to be working too unfortunately for buyers

spaceHopper

If you don't buy in 2014 the banks will need cash and we'll see a Malta style bail in of the banks using your savings (and mine), you have to spend it in 2014 or lose it! You'd better buy a house, a big bag a of rice and a shot gun to defend it.

Mr.McLovin

runawaybishop wrote: »

The no LPT isn't really an incentive, its minuscule.

true but its better than nought I suppose

Tigger

Zamboni wrote: »

If you don't buy in 2014 - you will never buy. The rich will simply sell their houses to each other and laugh and the poor will be housed by the state.
Private tenants in the middle will be tossed from landlord to landlord like cats toying with a doomed mouse. One drop of blood at a time.

:pac:

lol

Glenbhoy

stevedublin wrote: »

Possible lower property prices as repo's etc. increase supply.

or when the cash currently funding 50% of purchases runs dry.

Mortgage lending is currently 5.4% of 2006 levels. But, this boom is here to stay, not bubble or bounce this time though, cause bubbles can only be caused by excess credit and we're not seeing that!!

caew

Ardent wrote: »

The Mrs and I will be looking to purchase a family home in 2014. Unless a bit of sanity returns to the Dublin market early next year, we will either purchase outside Dublin or rent for a year.

Supply is the biggest problem right now - when we went looking at potential areas recently we couldn't get over the lack of for-sale signs. This needs to change.

Agreed, as well as the supply problem sellers are also turning away buyers in the hope prices will rise. In my own experience and I've seen a few posts on here with similar experiences, the deal is almost done and the seller has backed out thinking they will get more.

MurdyWurdy

We also want to buy in 2014 - I agree lack of supply is our main problem. Also, we won't be planning to apply for a mortgage until mid 2014 but I am concerned with how much the banks are willing to lend etc

Villa05

Glenbhoy wrote: »

cause bubbles can only be caused by excess credit!

This is the latest spin by the media. Again it is not true

HouseHunter13

is it just me or is there very little added to daft/myhome at the moment?

thought January would be busy time with new sales/stock no?

caew

The figures for daft are:

79 new listings on 01/012014
99 new listings on 04/01/2014
137 new listings on 08/01/2014

Going up slowly!

dowhatyoulove

Looking to buy this year or next year but keeping a sharp eye out for anything that stands out.. I've no idea about fees etc so a bit more research has to take place on my half before I go anywhere near buying a home.

handlemaster

If you can afford it and you like the property buy it. Prices will rise again in Dublin this year. There's not enough supply and houses don't get builth in a day.

GavMan

handlemaster wrote: »

If you can afford it and you like the property buy it. Prices will rise again in Dublin this year. There's not enough supply and houses don't get builth in a day.

I'd be wary enough of advice like that IMO. Yes, prices will go up but in very few areas IMO. Mainly proper south county Dublin (D4, Stillorgan, Blackrock, Foxrock, Killiney, Dalkey, etc.)

The sellers market thing is little over hyped IMO. There are plenty of fools trying to ride that coat tail and have over priced their unit. Namely in the likes of Firhouse, Knocklyon, Rathfarmham, Templeouge, etc. Some units there seeing no movement in months because they are over priced by about 10-15%. Opportunistic stuff really.

I think you'll only see nominal increases in most parts of Dublin, especial west and north.

You'll probably see a depression outside of Dublin and Cities. For example, I don't think you see any rises across the board in Kildare and probably the same in Meath.

My advice is to take your time. Judge each unit on its own merits and how it stacks up meeting your needs and only offer what you truly believe its worth. It might take time but you'll find a property you're happy with and at a price you're comfortable with. Never be afraid to walk away

handlemaster

Dublin west which I am familiar when with has a large population and if you look at daft there are very few properties for sale and hardly any to rent.

GavMan

handlemaster wrote: »

Dublin west which I am familiar when with has a large population and if you look at daft there are very few properties for sale and hardly any to rent.

True there isn't a huge stock but there also isn't a huge amount of buyers out there either, going by the number of mortgages drawn down in the country

o1s1n

GavMan wrote: »

My advice is to take your time. Judge each unit on its own merits and how it stacks up meeting your needs and only offer what you truly believe its worth. It might take time but you'll find a property you're happy with and at a price you're comfortable with. Never be afraid to walk away

Definitely this. Have a top limit on each property after you view it and do not go passed this limit. Lack of supply is causing people to go mad with their bids.

I've been watching the market in my choice of area (was looking to buy in Bray) for a few years and started viewing/making offers in September last year.

There was one property in particular we'd really have loved but the bidding got mad so we backed out.

All houses we viewed had loads of people at the viewings. All of the bidding went over asking. I'd originally thought this might be the estate agents pulling a fast one, so just told them to contact me if the winning bidder over asking dropped out - this never happened.

Eventually found one and went sale agreed in December. So in total it took almost a good, solid 4 months of viewings and offers.

I found it to be a really horrible, stressful experience (especially when you think you have a house you like in the bag, only to be outbid once again and have to start all over) - but don't let that force you into bidding more than you want/settling for something you don't want. I almost caved and bought something I wasn't 100% happy with the location of (as I was beginning to freak out thinking the search would never end) - but didn't in the end thankfully and got something we're extremely happy with

Edit; just one more thing which helped us out - try and keep in touch with estate agents. We did our best to become 'known' to them and one in particular would ring us up straight away when something they knew we were interested in came on the market.

Property websites really aren't kept up to date nearly enough. Any time I rang about one listed on Daft/myhome.ie in Bray, they were either sold or sale agreed. A lot of these houses are still up there today.

handlemaster

GavMan wrote: »

True there isn't a huge stock but there also isn't a huge amount of buyers out there either, going by the number of mortgages drawn down in the country

I would disagree. Went to a viewing late last year in Dublin 15 there were 13/14 different parties viewing. The demand is there alright. People forget you Dont stop living g because of a recession. People want to have there own place the desire to own is very strong in Ireland.

Theboinkmaster

handlemaster wrote: »

If you can afford it and you like the property buy it. Prices will rise again in Dublin this year. There's not enough supply and houses don't get builth in a day.

Many people actually expect the opposite so I wouldn't be going around saying prices will rise.

Many analysts believe there's currently a bubble in Dublin driven by cash buyers which is about to pop and will drive down prices. Plus also pending repossessions etc.

handlemaster

Theboinkmaster wrote: »

Many people actually expect the opposite so I wouldn't be going around saying prices will rise.

Many analysts believe there's currently a bubble in Dublin driven by cash buyers which is about to pop and will drive down prices. Plus also pending repossessions etc.

The repossessions will be on a drip drip... no shock drop in prices there.

o1s1n

Theboinkmaster wrote: »

Many people actually expect the opposite so I wouldn't be going around saying prices will rise.

Many analysts believe there's currently a bubble in Dublin driven by cash buyers which is about to pop and will drive down prices. Plus also pending repossessions etc.

It's a very difficult one to call alright and I wouldn't want to be the one trying to advise others.

I've held off buying for several years now due to the promise of pending repossessions decreasing the market even further.

The fact that there's still no budge leads me to believe it's not going to happen. Or if it does, it'll be drip fed.

Obviously there's a huge chance I could be wrong as I'm not an expert, but it wasn't worth the gamble for me to wait any longer (plus you know, I need somewhere to live! )

caew

handlemaster wrote: »

I would disagree. Went to a viewing late last year in Dublin 15 there were 13/14 different parties viewing. The demand is there alright. People forget you Dont stop living g because of a recession. People want to have there own place the desire to own is very strong in Ireland.

The number of viewings means nothing. I sold a house in Dublin 15 last year. When it went up for sale at I had numerous parties viewings but no offers came from them.

I viewed a house before christmas that i am interested in putting a bid on. Its been up for sale for 7 months and the agent tells me there has been loads of viewings and no offers. The no offers is the important piece of information I want, the number of viewings is irrelevant to me.

o1s1n

The viewings is a good indication of the pool of potential buyers. (which is a reflection of possible demand)

If you're going to lots of viewings which are packed with people then it's logical that there is a demand.

No offers just mean there was no demand for that particular property after the viewing (perhaps it had issues not visible in the ad). The ones I viewed (and tried to view) over the last four months were all in demand - both in viewings and the resulting bids.

All depends where you're looking/what you're looking at really.

handlemaster

caew wrote: »

The number of viewings means nothing. I sold a house in Dublin 15 last year. When it went up for sale at I had numerous parties viewings but no offers came from them.

I viewed a house before christmas that i am interested in putting a bid on. Its been up for sale for 7 months and the agent tells me there has been loads of viewings and no offers. The no offers is the important piece of information I want, the number of viewings is irrelevant to me.

If people bother to show up early in the morning it shows interest. More importantly was sale agreed within two weeks. If property is not selling in Dublin it has been priced to high simple not because of low demand.

caew

You can have one viewer and an offer or 100 viewers and no offers.

People looking at houses doesn't automatically mean there is a demand for that house, there are many many reasons why a house may not be attractvie to potential buyers. I have looked at 20 plus houses, but I don't have a demand for any of them bar one.

It was the case with the houses you were looking at but that is not enough for a generalisation.