Dublin House Prices 2015

Frank Lee Midere

ted1 wrote: »

I quite like Dublin, the prices here are comparable to other cities in developed countries.
If you don't like it here, then why stay? i'll drive you to the airport.

Dublins prices are amongst the worlds most expensive which is why people compare to London, New York etc rather than say Birmingham. It's really not justified except Irish people love housing panics.

Frank Lee Midere

spin777 wrote: »

I think the CB will scale down the restriction possibly 15% deposit and 4-4.5 times earnings. Market will react with buyers being nervous to buy early in the year, but demand and prices should start to increase again gradually in the second half of the year and level out mid 2016. Maybe 5% increase in 2015, nothing like we saw this year.

I think the government made a big mistake by not giving an incentive in the budget to increase supply. If government surpress prices too much developers won't build. Increasing supply is essential to solving the demand and rental crisis.

The CB is being told what to do by the ECB. Correctly in this case because we have proven we can't have nice things.

Houses in Dublin shouldn't be the price they are. Wishing that the level be 4-4.5 and deposit be 15% is demanding prices rise again on limited supply.

Basically after nearly destroying the economy on the last bubble some people want the same thing again

spin777

Frank Lee Midere wrote: »

The CB is being told what to do by the ECB. Correctly in this case because we have proven we can't have nice things.

Houses in Dublin shouldn't be the price they are. Wishing that the level be 4-4.5 and deposit be 15% is demanding prices rise again on limited supply.

Basically after nearly destroying the economy on the last bubble some people want the same thing again

I didn't say that is what I wish, but it is what I predict. Supply, supply, supply is the only thing that can definitely solve the rental crisis. Making it harder for a ftb is going to increase the rental demand unless supply can correct both issues.

desertcircus

assetcolum wrote: »

I do agree with you on that but i have lived in OZ, Zurich,USA etc and while i do feel Ireland has its perks i have to admit the price of property for the actual quality of it is obscene

Buddies of mine have bought practically Mansions compared to whats on offer here in Phoenix, Miami , California etc

All over 2000sq ft and most importantly all under 250k Euro

Your post does make sense but when you think long term i feel Ireland is slowly losing it's identity , just look at since we joined the EU which is only a short time ago in the scheme of things (14 years or so) look at how much Ireland has changed for the worst and think about how bad it will get while we are still in the EU/Don't have tough immigration laws like OZ/USA/Canada etc


Sure ask any yank who visits Ireland they can't even find any Irish people in Dublin city center anymore


Tourism will also go down the drain as mass immigration takes it's grip

If you can't see an Irish person in Dublin city centre, you're blind.

gaius c

Frank Lee Midere wrote: »

Actually the trend is down. I agree though that fluctuations are utterly ridiculous.

I am utterly perplexed by the kind of people who having not sold a property this year raise prices nevertheless. See that all over daft.

And of course, conversely, asking prices might go down online but a seller with plenty of offers has no need to increase prices on daft or myhome.

The simplest way to explain it is that vendors are effectively holding the market to ransom. If you want to buy a house, it doesn't matter if the vendor hasn't made a mortgage payment in years, you need to pay whatever price they name in the hope that the house might actually be for sale at some price and that the vendor isn't stringing you alone just to keep the bank off their backs.

And if you don't like it, tough because most of the other vendors are doing the same. I say most, not all because there are some sales that are going through quietly and without fuss but they get lost in all the fuss about €500k houses in Dundrum.

It's all down to foreclosure stuffing. That dam has to break at some stage. 8.2% of habitable units in Dublin were vacant in the 2011 census. Any "shortage" of supply is entirely artificial.

gaius c

assetcolum wrote: »

Sure ask any yank who visits Ireland they can't even find any Irish people in Dublin city center anymore


Tourism will also go down the drain as mass immigration takes it's grip

Welcome to boards.ie Charlie Chawke.

Piriz

assetcolum wrote: »

What kind of property is it ?

Anyone who pays 470k for a property in Ireland is insane imo

If you convert that to dollars that is well over half a million

You could get an absolute Mansion in the States for that kind of money as opposed to a shoebox in Dublin with it's c**p weather and ugly sites

seriously stupid comment...

assetcolum

Piriz wrote: »

seriously stupid comment...

How so?

ted1

Frank Lee Midere wrote: »

Dublins prices are amongst the worlds most expensive which is why people compare to London, New York etc rather than say Birmingham. It's really not justified except Irish people love housing panics.

What's the GDP of Birmingham? What's the average salary compared to Dublin? how much do those on benefits recieve compared to those here? Is Birmingham a capital city ? Does it have a coast line?

who_ru

spin777 wrote: »

I think the government made a big mistake by not giving an incentive in the budget to increase supply. If government surpress prices too much developers won't build. Increasing supply is essential to solving the demand and rental crisis.

That wasn't a mistake, it is govt policy to increase house prices in order to improve bank balance sheets. Increasing supply will not help this.

NZ_2014

who_ru wrote: »

That wasn't a mistake, it is govt policy to increase house prices in order to improve bank balance sheets. Increasing supply will not help this.

Well if they got for arguments sake €10,000 in tax for the sale of 100 houses at €100,000 thats €1million.

Get €15,000 in tax for the sale of 60 houses at €150,000 each thats €900,000. Have they done the maths? (not saying that I have!)

gaius c

NZ_2014 wrote: »

Well if they got for arguments sake €10,000 in tax for the sale of 100 houses at €100,000 thats €1million.

Get €15,000 in tax for the sale of 60 houses at €150,000 each thats €900,000. Have they done the maths? (not saying that I have!)

They need to prop up valuations of existing stock in order to make the banks look healthier than they are.

Piriz

assetcolum wrote: »

Anyone who pays 470k for a property in Ireland is insane imo

If you convert that to dollars that is well over half a million

You could get an absolute Mansion in the States for that kind of money as opposed to a shoebox in Dublin with it's c**p weather and ugly sites

Piriz wrote: »

seriously stupid comment...

assetcolum wrote: »

How so?

You think anyone who pays 470k for a property in Dublin is insane...you say this as a blanket statement...it is stupid to do this for a start.. then you attempt to tell us what 470k converts to in dollars as if we are all American and this will make more sense to us... then you suggest that any mansion in the States (locations unspecified) is better than any "shoebox" in this price range in Dublin and reference crap weather and ugly sites (?) insinuating everywhere in the states where these mansions are available has better weather and nice sites and that properties in Dublin in this price range are "shoeboxes".
Also just because a mansion is big does not mean it is better all things considered and definitely does not mean it deserves a capitol letter..(see above). There is so many other factors you failed to recognise about Dublin in your post it definitely deserved to be called stupid (no offence)!

Barely Hedged

assetcolum wrote: »

I do agree with you on that but i have lived in OZ, Zurich,USA etc and while i do feel Ireland has its perks i have to admit the price of property for the actual quality of it is obscene

Buddies of mine have bought practically Mansions compared to whats on offer here in Phoenix, Miami , California etc

All over 2000sq ft and most importantly all under 250k Euro

So that applies to eveywhere in the USA. 250k for 2000sq ft in Manhattan, Napa Valley, Downtown Chicago etc?

Isnt Phoneix surrounded by desert - desert cheap to buy and builds are made from wood?

Isnt Miami swap and marshland - swap and marshland cheap to buy and builds are made from wood?

California - well what parts of California are we talking about?

assetcolum wrote: »

Your post does make sense but when you think long term i feel Ireland is slowly losing it's identity , just look at since we joined the EU which is only a short time ago in the scheme of things (14 years or so) look at how much Ireland has changed for the worst and think about how bad it will get while we are still in the EU/Don't have tough immigration laws like OZ/USA/Canada etc

I dont know where to start with this comment but its the sort of one id imagine seeing on the comment page of the Daily Mail website.

assetcolum wrote: »

Tourism will also go down the drain as mass immigration takes it's grip

Just like tourism has gone down the drain in the USA with all its immigration

handlemaster

http://m.independent.ie/irish-news/news/house-prices-rocket-by-as-much-as-30pc-in-rural-areas-30676811.html

Indo property porn. Numbers are quiet high if they can be believed

johnp001

From the indo

"In Cavan, the price increase was a startling 30pc."

In Cavan a block of 58 apartments was sold in January for 20k each and a block of 44 apartments in March for 11k each. The median value fell from €100k to €13k between Nov 2013 and Mar 2014. The 30% increase is off that low level, the trajectory of Cavan house prices is still downward.
http://propertypriceregisterireland.com/graphs/?action=search&type=county&id=cavan

Article also mentions Westmeath prices increasing by 27.7%.
PPR shows a graph of prices at levels below those of last year.
http://propertypriceregisterireland.com/graphs/?action=search&type=county&id=westmeath

With a low volume of transactions it will always be possible to pick a moment in time with a dramatic increase and then write an article about it.
There were no articles in the media stating "Cavan property prices drop 87% in 4 months" which was equally as true as the figures being referenced in this article, and equally misleading.

who_ru

johnp001 wrote: »

From the indo


In Cavan a block of 58 apartments was sold in January for 20k each and a block of 44 apartments in March for 11k each. The median value fell from €100k to €13k between Nov 2013 and Mar 2014. The 30% increase is off that low level, the trajectory of Cavan house prices is still downward.
http://propertypriceregisterireland.com/graphs/?action=search&type=county&id=cavan

Article also mentions Westmeath prices increasing by 27.7%.
PPR shows a graph of prices at levels below those of last year.
http://propertypriceregisterireland.com/graphs/?action=search&type=county&id=westmeath

With a low volume of transactions it will always be possible to pick a moment in time with a dramatic increase and then write an article about it.
There were no articles in the media stating "Cavan property prices drop 87% in 4 months" which was equally as true as the figures being referenced in this article, and equally misleading.

totally correct. terrible 'journalism' again by the independent.

gaius c

johnp001 wrote: »

From the indo


In Cavan a block of 58 apartments was sold in January for 20k each and a block of 44 apartments in March for 11k each. The median value fell from €100k to €13k between Nov 2013 and Mar 2014. The 30% increase is off that low level, the trajectory of Cavan house prices is still downward.
http://propertypriceregisterireland.com/graphs/?action=search&type=county&id=cavan

Article also mentions Westmeath prices increasing by 27.7%.
PPR shows a graph of prices at levels below those of last year.
http://propertypriceregisterireland.com/graphs/?action=search&type=county&id=westmeath

With a low volume of transactions it will always be possible to pick a moment in time with a dramatic increase and then write an article about it.
There were no articles in the media stating "Cavan property prices drop 87% in 4 months" which was equally as true as the figures being referenced in this article, and equally misleading.

Yes and no. They specifically state "3 bed semi" as their metric so that should exclude those apartments but they are estate agents so I wouldn't believe a word coming out of their mouths.
That said, you've done far more research than the indo did with the article so good work in exposing yet more property pimping by our press!

The second half of the article is interesting as they try to spin the definite cool down in the capital.

jmayo

Frank Lee Midere wrote: »

Dublins prices are amongst the worlds most expensive which is why people compare to London, New York etc rather than say Birmingham. It's really not justified except Irish people love housing panics.

Ssshhhhhh.
How dare you compare our beloved capital, home of all those mighty Irish (sorry US companies seeking tax clearing facilities) multinationals,
to some city with a large population in another country.

desertcircus wrote: »

If you can't see an Irish person in Dublin city centre, you're blind.

Ohh you see lots of Irish poeple in our capital's city centre.
Of course seeing homeless, beggars, drunks, and junkies may not be the sight most tourists want.
Then again some would say they copperfasten the historical Irish sterotypes.

ted1 wrote: »

What's the GDP of Birmingham? What's the average salary compared to Dublin? how much do those on benefits recieve compared to those here? Is Birmingham a capital city ? Does it have a coast line?

So now having a coastline and being a capital means we are comparable to every major capital city in the world ?

Why do some Irish people often have delusions of grandeur and an assumption that we are so special.

ted1

jmayo wrote: »

So now having a coastline and being a capital means we are comparable to every major capital city in the world ?

Why do some Irish people often have delusions of grandeur and an assumption that we are so special.

In any city you go to coastal areas then to have a higher price than inland cities, Birmingham is slsp bang in the middle of the country. With property its location, location, location and the fact Alone means that the two are not comparable.

Also capital cities tend to attract a higher price and are the centre of commerce so wages are higher than other cities in the country, look at Dublin prices V cork prices.


So you can compare the two.

Even if you use Manchester you'll see Dublin is better. http://www.numbeo.com/cost-of-living/compare_cities.jsp?country1=Ireland&country2=United+Kingdom&city1=Dublin&city2=Manchester

Frank Lee Midere

Barely Hedged wrote: »

So that applies to eveywhere in the USA. 250k for 2000sq ft in Manhattan, Napa Valley, Downtown Chicago etc?

Isnt Phoneix surrounded by desert - desert cheap to buy and builds are made from wood?

Isnt Miami swap and marshland - swap and marshland cheap to buy and builds are made from wood?

California - well what parts of California are we talking about?



I dont know where to start with this comment but its the sort of one id imagine seeing on the comment page of the Daily Mail website.



Just like tourism has gone down the drain in the USA with all its immigration

Why is Dublin compared with Manhatten and Chicago? It's a rainy small European city - same size as Birmingham maybe smaller.

ted1

Frank Lee Midere wrote: »

Why is Dublin compared with Manhatten and Chicago? It's a rainy small European city - same size as Birmingham maybe smaller.

As stated before, you can't conpare it to an industrial town in the middle of Britian. I posted a comparasion for Manchester , it looks comparable to you see the disposable income on the bottom.

Frank Lee Midere

ted1 wrote: »

In any city you go to coastal areas then to have a higher price than inland cities, Birmingham is slsp bang in the middle of the country. With property its location, location, location and the fact Alone means that the two are not comparable.

Also capital cities tend to attract a higher price and are the centre of commerce so wages are higher than other cities in the country, look at Dublin prices V cork prices.


So you can compare the two.

Even if you use Manchester you'll see Dublin is better. http://www.numbeo.com/cost-of-living/compare_cities.jsp?country1=Ireland&country2=United+Kingdom&city1=Dublin&city2=Manchester

Very few houses in Dublin can see the sea. It's a flat city.

I have no problem with 12M euro houses looking over Bonos gaff. The rich are different.

It's the prole houses for 350k which bug me.

In any case all the excuses here were heard in 2006. It's certainly a bubble when Dublin is compared to Manhatten.

ted1

Frank Lee Midere wrote: »

Very few houses in Dublin can see the sea. It's a flat city.

I have no problem with 12M euro houses looking over Bonos gaff. The rich are different.

It's the prole houses for 350k which bug me.

In any case all the excuses here were heard in 2006. It's certainly a bubble when Dublin is compared to Manhatten.

The dearer houses tend to be on the coast, take them away and the average price goes down. Also while you can see the sea being a couple of km near it still adds value .

Barely Hedged

Frank Lee Midere wrote: »

Why is Dublin compared with Manhatten and Chicago? It's a rainy small European city - same size as Birmingham maybe smaller.

I wasn't comparing Dublin with any of those locations.

I was merely pointing out that the 2000 sq ft is limited to outposts in the US and irrelevant to the conversation. Regardless of your opinion on Dublin or its property prices it's is by no means an outpost

Barely Hedged

Frank Lee Midere wrote: »

Very few houses in Dublin can see the sea. It's a flat city.

I have no problem with 12M euro houses looking over Bonos gaff. The rich are different.

It's the prole houses for 350k which bug me.

In any case all the excuses here were heard in 2006. It's certainly a bubble when Dublin is compared to Manhatten.

You seem to be in denial about house prices in Dublin. The arse is not going to fall out of the market. If they do fall next year it will be in the 5% to 10% range. Not the 40% you predicted 8 months ago, before an approximate increase of 20% to 25%. By your reckoning, a 3 bed semi in a good part of Tallaght, priced at 200k 8 months ago will be priced at 160k next year. I don't know what parallel universe that will happen in I'm afraid

Ritchi

If I understand the rules right, only 80% of a banks loan book have to stick to these rules, they can do what they want with the other 20%. I'm not sure these rules will make that much difference to what we have now.

At best, I can see these rules, along with the CGT change, stopping the rises a little. We won't see the same level of increases, but there won't be decreases. As long as banks have credit to give to people, house prices will rise.

gaius c

Barely Hedged wrote: »

You seem to be in denial about house prices in Dublin. The arse is not going to fall out of the market. If they do fall next year it will be in the 5% to 10% range. Not the 40% you predicted 8 months ago, before an approximate increase of 20% to 25%. By your reckoning, a 3 bed semi in a good part of Tallaght, priced at 200k 8 months ago will be priced at 160k next year. I don't know what parallel universe that will happen in I'm afraid

You are aware that in affordability terms, we're almost back at 2006/2007?

Michael D Not Higgins

Ritchi wrote: »

If I understand the rules right, only 80% of a banks loan book have to stick to these rules, they can do what they want with the other 20%. I'm not sure these rules will make that much difference to what we have now.

At best, I can see these rules, along with the CGT change, stopping the rises a little. We won't see the same level of increases, but there won't be decreases. As long as banks have credit to give to people, house prices will rise.

85%/15% actually and yes it will make a difference as they'll want to get the ordinary punters on 20% deposit mortgages to allow for more profitable LTV mortgages in that 15%.

ZeroThreat

The main priority for any 20-something in Ireland at this point should be getting on the property ladder.