Property Market 2015

I remember talking to an agent who was selling a house last year. He was also looking for places to rent on behalf of people coming over to the Intel plant. These were mostly fairly short-term but had high standards (family homes in good condition) - yet there was very little to choose from.

Interesting figures Koheim. So if 35 sold in the first four months and there are now 70, I would say that is actually an increase in supply. If, four months from now, all of those houses are sold then the number of transactions has doubled over the period.

But, of course, if there are twice as many houses for sale as in the past, then the prices at which they sell would probably fall - until demand is also doubling. I think there are still plenty of people interested in buying but once you start getting beyond 350k the numbers who can buy start to thin out.

koheim

Deleted User wrote: »

I remember talking to an agent who was selling a house last year. He was also looking for places to rent on behalf of people coming over to the Intel plant. These were mostly fairly short-term but had high standards (family homes in good condition) - yet there was very little to choose from.

Interesting figures Koheim. So if 35 sold in the first four months and there are now 70, I would say that is actually an increase in supply. If, four months from now, all of those houses are sold then the number of transactions has doubled over the period.

But, of course, if there are twice as many houses for sale as in the past, then the prices at which they sell would probably fall - until demand is also doubling. I think there are still plenty of people interested in buying but once you start getting beyond 350k the numbers who can buy start to thin out.

Assuming does not lead to good things..., but do assume that houses for sale has not changed, I think that is closer to the truth.
Most houses sold this year are in fact below 400K, but most houses for sale are on the market for way more than that. No increase in supply for what the market wants and still zero properties for rent...

Your assumptions about what the market wants are correct, in my opinion

gaius c

Deleted User wrote: »

I remember talking to an agent who was selling a house last year. He was also looking for places to rent on behalf of people coming over to the Intel plant. These were mostly fairly short-term but had high standards (family homes in good condition) - yet there was very little to choose from.

Interesting figures Koheim. So if 35 sold in the first four months and there are now 70, I would say that is actually an increase in supply. If, four months from now, all of those houses are sold then the number of transactions has doubled over the period.

But, of course, if there are twice as many houses for sale as in the past, then the prices at which they sell would probably fall - until demand is also doubling. I think there are still plenty of people interested in buying but once you start getting beyond 350k the numbers who can buy start to thin out.

Similar issues in Naas with Kerry Group firing up.

Villa05

gaius c wrote:

Similar issues in Naas with Kerry Group firing up.

Same in limerick, huge amount of rental stock sold to FTBers, swallowed up by regeneration. Significant demand from regeneron project, expanding hospital and various other job announcements over the last 3 years.

I Am The Law

Villa05 wrote: »

Same in limerick, huge amount of rental stock sold to FTBers, swallowed up by regeneration. Significant demand from regeneron project, expanding hospital and various other job announcements over the last 3 years.

Totally agree, very little for sale considering the large estates in Dooradoyle and Raheen area.

castle2012

gaius c wrote: »

Asking prices or selling prices? There's some silly asking prices out there as unrealistic vendors use "2014 price plus 10%" as their valuation guide.

Here's an example . House went on the market for 155 sold for 197.500. Look at bottom of page to see offers .
http://www.daft.ie/sales/39-the-crescent-inse-bay-laytown-meath/1054775/

What's Laytown like?

I can see how someone with 175k-200k would see it as better value. In Dublin, a quick Daft search returns houses in Crumlin, Finglas, Drimnagh, Clondalkin in very poor condition.

The obvious drawback would be if you had to commute to Dublin city centre.

p.s. Castle2012: how do yo know it sold for that price? Did the agent tell you that or are you basing it on the last asking price listed on Daft? It could have gone for more or less.

starbaby2003

Does anyone notice that older houses with big gardens are still selling quickly in Dublin. It's amazing the amount of sway a garden has considering our weather 😊

seamus

Gardens are more than just sunbathing spots though. They give you an outside area with privacy. You can put up sheds/workshops/offices in them, let the dogs out for a run, etc etc. It also doesn't rain that much in Ireland. It might not be warm, but it doesn't have to be blistering sunshine to play on swings, kick a ball about, etc.

The majority of houses built in the last 10 years have no front garden to speak of and a postage stamp back garden, and many people are realising that having 120sq. m. of house isn't that great when all you've got outside is 10 sq.m. of back garden.

Michael D Not Higgins

seamus wrote: »

Gardens are more than just sunbathing spots though. They give you an outside area with privacy. You can put up sheds/workshops/offices in them, let the dogs out for a run, etc etc. It also doesn't rain that much in Ireland. It might not be warm, but it doesn't have to be blistering sunshine to play on swings, kick a ball about, etc.

The majority of houses built in the last 10 years have no front garden to speak of and a postage stamp back garden, and many people are realising that having 120sq. m. of house isn't that great when all you've got outside is 10 sq.m. of back garden.

Not to mention potential extensions in the future.

Rew

starbaby2003 wrote: »

Does anyone notice that older houses with big gardens are still selling quickly in Dublin. It's amazing the amount of sway a garden has considering our weather 😊

Yup this is exactly what we're looking for, this came close but wasn't quite right for us:

http://www.myhome.ie/residential/brochure/24-manor-street-stoneybatter-dubin-7/3166011

starbaby2003

seamus wrote: »

Gardens are more than just sunbathing spots though. They give you an outside area with privacy. You can put up sheds/workshops/offices in them, let the dogs out for a run, etc etc. It also doesn't rain that much in Ireland. It might not be warm, but it doesn't have to be blistering sunshine to play on swings, kick a ball about, etc.

The majority of houses built in the last 10 years have no front garden to speak of and a postage stamp back garden, and many people are realising that having 120sq. m. of house isn't that great when all you've got outside is 10 sq.m. of back garden.

I agree 100% but thought I was in the minority. Give me a house that needs 'modernisation' from the 1950s over a new build in walk in condition any day. I would consider personally the huge gardens in Clonkeen road to big to manage unless you were going to have part of it as a wild garden. The OH would think differently though.

starbaby2003

@Rew That could be an amazing house with some cash and a lot of elbow grease. Great location too .

Rew

starbaby2003 wrote: »

@Rew That could be an amazing house with some cash and a lot of elbow grease. Great location too .

Just that bit too small for us even with an extension. if the garden was twice as big would have jumped at it (photos make it look bigger then it is)

gaius c

starbaby2003 wrote: »

@Rew That could be an amazing house with a lot of cash and a lot of elbow grease. Great location too .

Fixed your post.

gosplan

I would have thought it was that gardens were more or less an afterthought for a BTL investor but are a serious concern for a FTB with a young family.

Jet Black

Deleted User wrote: »

What's Laytown like?

I can see how someone with 175k-200k would see it as better value. In Dublin, a quick Daft search returns houses in Crumlin, Finglas, Drimnagh, Clondalkin in very poor condition.

The obvious drawback would be if you had to commute to Dublin city centre.

p.s. Castle2012: how do yo know it sold for that price? Did the agent tell you that or are you basing it on the last asking price listed on Daft? It could have gone for more or less.

Girl I work with was bidding on it not sure of the final price but said there was lots of interest. Guy I work with lives there. Says he bought his for 220 and even at 200 was a steal. He's lived there for a few years and says its a great area.

ionapaul

Funny to read people's thoughts here - I've zero interest in a garden of any kind; I suffer from hayfever so have always hated working in a garden (forced to as a kid, as have many I'm sure!), though I do enjoy a walk through a public garden of course or sitting on a park bench to read. Just don't want to have a garden myself!

I would have thought the main reason for buying a house with a really big garden would be to allow for extensions and with a mind on re-selling in the future.

fret_wimp2

ionapaul wrote: »

Funny to read people's thoughts here - I've zero interest in a garden of any kind; I suffer from hayfever so have always hated working in a garden (forced to as a kid, as have many I'm sure!), though I do enjoy a walk through a public garden of course or sitting on a park bench to read. Just don't want to have a garden myself!

I would have thought the main reason for buying a house with a really big garden would be to allow for extensions and with a mind on re-selling in the future.

-Place for kids to play.
-Gardening (hobby).
-Space for pets.
-Drying clothes.
-BBQ on sunny days.
-Relaxing (its not raining 24x7 you know).
-future expansion.
-place for a workshed.

Thats literally 10 seconds thought into why a garden may be valued.

Rew

ionapaul wrote: »

Funny to read people's thoughts here - I've zero interest in a garden of any kind; I suffer from hayfever so have always hated working in a garden (forced to as a kid, as have many I'm sure!), though I do enjoy a walk through a public garden of course or sitting on a park bench to read. Just don't want to have a garden myself!

I would have thought the main reason for buying a house with a really big garden would be to allow for extensions and with a mind on re-selling in the future.

Use some imagination, pave over it or put down gravel etc, gardens done have to be full of plants.

helimachoptor

I also was of the opinion that i didnt want a garden.
In our last house it was small enough, 25 wide * 35 long but it pained me having to cut the grass and normally i let it over grow until nagged into doing it.

Initially i was not keen on a house with a big garden, however we've bought one now with a garden over 150 foot long... :eek:

I need a ride on mower :eek:

We bought it for a few reasons

- Kids and a lot of space for them to play, swings etc
- Dog (long way away)
- BBQ and space for parties
- Extension will happen and tbh wont noticeably reduce the garden its that big
- Landscaping again way in the future but would be nice to have part of the garden other than pure grass

Rew

Bit OT I put down fake grass over a deck (never get a soft wood deck they are a nightmare). Highly recommend it to those who don't want real grass but don't want all hard surfaces.

jon1981

Rew wrote: »

Bit OT I put down fake grass over a deck (never get a soft wood deck they are a nightmare). Highly recommend it to those who don't want real grass but don't want all hard surfaces.

How do you clean fake grass? With a hoover or something?

Rew

jon1981 wrote: »

How do you clean fake grass? With a hoover or something?

Yeah thats what we did but didn't require much TBH

NotCominBack

jon1981 wrote: »

How do you clean fake grass? With a hoover or something?

With a fake lawnmower

castle2012

[Deleted User] wrote: »

What's Laytown like?

I can see how someone with 175k-200k would see it as better value. In Dublin, a quick Daft search returns houses in Crumlin, Finglas, Drimnagh, Clondalkin in very poor condition.

The obvious drawback would be if you had to commute to Dublin city centre.

p.s. Castle2012: how do yo know it sold for that price? Did the agent tell you that or are you basing it on the last asking price listed on Daft? It could have gone for more or less.

Just in the local paper this week sale agreed at €197.500. Plus many more in the area . Ixelles , I definitely think the cap is pushing people out thus pushing prices up in the greater Leinster area . That's just my taughts

Rowley Birkin QC

We started looking about (in Dublin) with a garden as a priority but it quickly became unattainable.

I'm coming from a farming background though so the concept of owning a property without any private, outside space to puck a ball about was bizarre to me. We're sale agreed on a property with a small outside courtyard that will get sun at midday and not much after. Compromise seems to be the name of the game when it comes to house-hunting.

MAJJ

Rowley Birkin QC wrote: »

We started looking about (in Dublin) with a garden as a priority but it quickly became unattainable.

I'm coming from a farming background though so the concept of owning a property without any private, outside space to puck a ball about was bizarre to me. We're sale agreed on a property with a small outside courtyard that will get sun at midday and not much after. Compromise seems to be the name of the game when it comes to house-hunting.

Best of luck with new home, can take time to accept it but I agree compromise is often needed.

MayBea

helimachoptor wrote: »

Have gone sale agreed, 90k below the original asking price.

Had a couple of drops to get it to a slightly more realistic price.

Congrats on going sale agreed and good luck with your new house!

We've given up on bidding and buying a new build - we've gone sale agreed as of last week.
Sadly, our experience on trying to buy a "doer-upper" in a chosen area over the past 8 months wasn't a positive one - we got constantly outbid, with the latest was 2 weeks ago.
Perhaps it's due to us being picky to some extent, but the walking distance from tram station (Green Luas line), southern aspect(vitally important) and quietness was something that worked against us.