Property market Mayo, everything is on the up according to the indo.

relax carry on

So what do you reckon, is it the stuff of estate agent dreams, or is the market powering away per the articles claims?

http://m.independent.ie/business/personal-finance/property-mortgages/mayo-townhouses-and-3bed-semis-wise-investments-30926833.html

Dudda

Is that the same Durkan from Castlebar predicting prices will rise when some of his inveatment property was sold at auction by NAMA in December?

They probably will rise a bit but an estate agent is the last person I'd take advice from.

mass_debater

We've turned a corner

evolving_doors

I hear decking is the latest feature to add thousands onto your property when you flip it.

IMM + property porn = Advertising revenue

Ya so what prices up 20%...

Bought my house for 400k in ghost estate 2006 ... worth €1 last year , now someone wants to give me €2! Horrrayy the recession is over, PRICES UP 100% says indo genius.

yop

Scare mongering people who were waiting into buying, driven by the auctioneers and government who want more property tax and want us to revise the figures we submitted.
I know not one person buying or looking to buy, so would love to know where they are getting the figures.


Auctioneers survey, we can hardly be surprised,

MedusaV8

‎My partner and I have been looking for a suitable property to buy as an investment as we had a small amount left over when we sold our UK home that frankly is doing us no good in the bank. 
‎
We have looked at small, large, rural and town properties in and around Ballinrobe, Claremorris and Westport. The only prices that have increased where properties have actually sold since last May are Westport. 

We have made offers on properties in Ballinrobe as the rental returns is the best for cost and we were told the seller only wants the asking price. In each case we walked away and both properties remain for sale along with many others since May. Some have even had the prices put up even though there are no buyers bidding. ‎

It seems all Jackanory to me. ‎

‎

TopTec

Jackanory is right.

I drive past two of the worst examples of unrealistic pricing by auctioneers most days. A run down 5 year old 3 bed chalet bungalow with a burnt out garage and unfinished drive and porches, leaking guttering and a garden full of boulders that would sink a ship, on for a snip at 180,000 down from 240,000 6 months ago... In reality 70k would be top end price. ( The advert on Daft carries pictures of the property when it was first built!)

and a derelict 4 walled cow shed on 1/3rd of an acre of unbroken land, no planning permission or mains services.... on for an eye watering "circa" 60,000. In reality worth 3 grand

I am sure the owners have been convinced that they could achieve these prices but people need to wise up.

I personally think rises in the market are very localised, like Westport. Until employment returns to the West, house prices will remain pretty flat.

TT

MedusaV8

MedusaV8 wrote: »

‎My partner and I have been looking for a suitable property to buy as an investment as we had a small amount left over when we sold our UK home that frankly is doing us no good in the bank. 
‎
We have looked at small, large, rural and town properties in and around Ballinrobe, Claremorris and Westport. The only prices that have increased where properties have actually sold since last May are Westport. 

We have made offers on properties in Ballinrobe as the rental returns is the best for cost and we were told the seller only wants the asking price. In each case we walked away and both properties remain for sale along with many others since May. Some have even had the prices put up even though there are no buyers bidding. ‎

It seems all Jackanory to me. ‎

‎

You can't really call some of those cowboys that sell property in Mayo auctioneers. I've never came across such a bunch of unprofessional dishonest cretins. There a cabal of glorified cattle dealers and i'd expect if Gardai and revenue investigated some of the rumors of cash envelope demands from certain auctioneers they would be behind bars, hopefully they are. Some auctioneers also refuse to sell below certain levels to maintain prices in their local area.

Its only when you deal with a professional honest auctioneers that you realise how corrupt and inept some of the others are. If you can, deal direct with the vendor or the bank.

finisklin

Was going to make the point that the piece says more about the auctioneers that didn't partake in this i.e. they probably are not of the same view as Durcan or Fox and Gallagher. The latter both get free publicity highlighting that they are auctioneers and can possibly secure good deals for clients on the sale of their properties.

Marketing smoke without any substance. The property price register still sjows that the volume of sales has neither increased nor impacted prices - they are still low.

Unfortunately there are people that will believe this and possibly look to sell on the back of it. Best of luck to them.