Property Market 2016

The Mulk

Cuddlesworth wrote: »

Or that they simply don't think its worth the money.

Yeah i've thought that, but nothing seems to be shifting. Last year 2 houses on our road went for 295k and 300k, according to PPR.
I've mine slightly below this lower figure.
Seems to be the new regulations taking hold.

Rew

The Mulk wrote: »

Yeah i've thought that, but nothing seems to be shifting. Last year 2 houses on our road went for 295k and 300k, according to PPR.
I've mine slightly below this lower figure.
Seems to be the new regulations taking hold.

We sold our house last year for €350k, nothing nearby has gotten that since, all 20-55k less.

The Mulk

Rew wrote: »

We sold our house last year for €350k, nothing nearby has gotten that since, all 20-55k less.

Yeah, certain smaller houses and apartments are achieving higher than usual prices so we're gonna give it until May and then decide. We had to pull out of the house were buying so we're not in any hurry/pressure to accept a low-ball offer.
Stay put for another few years if needs be.

sapper

From my experience selling houses, and especially renting them, if you get lots of viewings but no offers it means people like the look of your house, will include it in their house hunting, but think the asking price is too high for them.

When renting out, in that situation dropping the rent ask by even a EUR50/EUR100 gets the offers rolling in.

Im buying so biased but the equivalent house prices from last year could have been high, last-of-the-boom type prices, especially if early 2015.

I sold in Feb 2015 and I just about managed to get a 2014 price - wouldnt have a hope of that now

The Mulk

sapper wrote: »

From my experience selling houses, and especially renting them, if you get lots of viewings but no offers it means people like the look of your house, will include it in their house hunting, but think the asking price is too high for them.

When renting out, in that situation dropping the rent ask by even a EUR50/EUR100 gets the offers rolling in.

Im buying so biased but the equivalent house prices from last year could have been high, last-of-the-boom type prices, especially if early 2015.

I sold in Feb 2015 and I just about managed to get a 2014 price - wouldn't have a hope of that now

We dropped it recently alright,(last week) a few grand lower than original price.
After the original chain fell through in December the local council came in with an offer of 15k below asking. That's still on the table as far as the EA is concerned, so i'll make my mind up before the summer.

SarahMollie

People who are dropping their prices - where in the country are you?

The Mulk

SarahMollie wrote: »

People who are dropping their prices - where in the country are you?

Nth. Kildare, I think we were/are panicking a bit. The EA said to us, as above, drop it by a few grand to kickstart the bids.
As I mentioned in another thread we were packed up and ready to go for the 1st week december and the sale fell through, so we still have stuff in storage and we're looking for a quick sale.
We've taken a step back the last two weeks and said we'ed bide our time rather than rushing into anything.
In our case you trust the EA a lot but it's just business to them. They'll pressurize a seller to take a lower bid if it's cash, getting them their commission quicker.

ArnieSilvia

2 bed Apartment just sold locally in Adamstown, Lucan for 190k, full asking price. Bought in 2013 for 120k. Sale took 4 days I heard. This is great news if we decided to sell our 3 bed, bought for 230k (showhouse, furnished) in 2014, currently valued at 265k+ (it's in top condition and lots of improvements to functionality and extra decor with BER A2 that one could walk in with suitcase and enjoy right away)

I think the most contributing factor to sale must have been presence of primary and secondary schools within 300m plus transport links as well as price below 200k for apt not needing work.

On a side note, from our search when buying, good houses in safe location, with schools and reasonable roads/shop access are rare.

The_Conductor

Numerous 2 beds in The Orchard and The Village Weir on Main Street in the Village though- all well below the psychological 200k mark- and some on the market for over a year (or in the case of one of them in the Village Weir- its had its 4th sale fall through since last September.

It really seems to be pot luck.

handlemaster

I see alot of talk of prices dropping not much on the daft for Dublin 15 dropping... will see mid year how things are going..

slowjoe17

handlemaster wrote: »

I see alot of talk of prices dropping not much on the daft for Dublin 15 dropping... will see mid year how things are going..

Central bank rules will affect demand more, the higher the price.

Dublin 15 is not a high-price area, so is less likely to be affected, and therefore less likely to see price falls than an area like Rathfarnham or Raheny.

PhoenixParker

slowjoe17 wrote: »

Central bank rules will affect demand more, the higher the price.

Dublin 15 is not a high-price area, so is less likely to be affected, and therefore less likely to see price falls than an area like Rathfarnham or Raheny.

Depends a lot on where in D15 you're looking. There are some big new developments in D15 - Bracken Park, Fairhaven, Diswellstown Manor, Hamilton Park that are well above the 300K-400K mark and all seem to be doing pretty well.

swampgas

The Mulk wrote: »

Nth. Kildare, I think we were/are panicking a bit. The EA said to us, as above, drop it by a few grand to kickstart the bids.
As I mentioned in another thread we were packed up and ready to go for the 1st week december and the sale fell through, so we still have stuff in storage and we're looking for a quick sale.
We've taken a step back the last two weeks and said we'ed bide our time rather than rushing into anything.
In our case you trust the EA a lot but it's just business to them. They'll pressurize a seller to take a lower bid if it's cash, getting them their commission quicker.

If you have a lot of genuine interest, why not drop the price and let the interested buyers bid against each other? That way you'll get the best price you can in the current market. Hanging on or just dropping the price a few grand isn't going to cut it. Make your mind up if you really want to sell or not.

The Mulk

swampgas wrote: »

If you have a lot of genuine interest, why not drop the price and let the interested buyers bid against each other? That way you'll get the best price you can in the current market. Hanging on or just dropping the price a few grand isn't going to cut it. Make your mind up if you really want to sell or not.

We've dropped it 8k, on the advice of the EA, they cover a large chunk of Nth Kildare and West Dublin so they know the market well.
Their busiest Jan/Feb for viewings in years, but quietest in terms of bids (so they say!!).

swampgas

The Mulk wrote: »

We've dropped it 8k, on the advice of the EA, they cover a large chunk of Nth Kildare and West Dublin so they know the market well.
Their busiest Jan/Feb for viewings in years, but quietest in terms of bids (so they say!!).

It's still quite early in the year I guess. I'd be getting worried if Easter came and went without getting any serious interest though.

mirrorwall14

I'm almost at buying stage in north Kildare area (3bed semi)so have been monitoring house prices very closely for the last 8 months. prices are falling or houses are remaining on the market. 4beds are dropping into my search band for the first time. Have to say though, north Kildare was ludicrously expensive for both rent and buying (post boom anyways) when the peak of the building was taking place in Intel and kerrygold.

The Mulk

swampgas wrote: »

It's still quite early in the year I guess. I'd be getting worried if Easter came and went without getting any serious interest though.

Yeah I'm going to sit tight for a while, it's weird when you don't hear anything

handlemaster

Hold onto your seats the Boom boys FF are doing a sequel

The_Conductor

handlemaster wrote: »

Hold onto your seats the Boom boys FF are doing a sequel

Don't bet on it.........
The smart money seems to be backing a return to the electorate towards the end of April.

Villa05

I suspect the Germans will be keeping a close eye on proceedings, especially with that lot back in the mix

Bob24

handlemaster wrote: »

Hold onto your seats the Boom boys FF are doing a sequel

Do we really think FF and the Irish as a whole have learnt absolutely nothing from the previous boom and crash?

Maybe it is so - but it would be really depressing.

handlemaster

Bob24 wrote: »

handlemaster wrote: »

Hold onto your seats the Boom boys FF are doing a sequel

Do we really think FF and the Irish as a whole have learnt absolutely nothing from the previous boom and crash?

Maybe it is so - but it would be really depressing.

Add your reply here.


The seats they have just won tells the story. Interesting have their take on the property sector will play out

mel123

Bob24 wrote: »

Do we really think FF and the Irish as a whole have learnt absolutely nothing from the previous boom and crash?

Maybe it is so - but it would be really depressing.

I think people who it didn't effect at all last time wouldn't really take it in to consideration if a boom happened again with property...Irish mentality 'ah it be grand' 😀

mollybird

well we are finally at the very early stages of getting our funds together for a deposit for our morgage. i have been busy looking at my home.ie and a bit of daft for our dream home. Going to be an exciting year for us. hoping it won't be too long till we have our deposit and get our morgage approved.

brownbeard

CSO January figures released:

National: down -0.5% month on month
Dublin: down -1.2% month on month

http://cso.ie/en/releasesandpublications/er/rppi/residentialpropertypriceindexjanuary2016/

The_Conductor

brownbeard wrote: »

CSO January figures released:

National: down -0.5% month on month
Dublin: down -1.2% month on month

http://cso.ie/en/releasesandpublications/er/rppi/residentialpropertypriceindexjanuary2016/

I imagine, in addition to the above, that volumes have fallen off a cliff..........

SarahMollie

The_Conductor wrote: »

I imagine, in addition to the above, that volumes have fallen off a cliff..........

+1

Anyone I know who is looking is constantly bemoaning the lack of anything new available for them to view.

Around where I live (SCD) the only things I've seen being built in the last few years are small developments of large houses (4,5,6 Beds) that are out of the reach of a lot of potential buyers.

Anything like a 3Bed Semi seems to be outside the M50, so competition for this type of property closer to town is fierce.

Rew

Hopefully sellers are going to take a long hard look at the prices they are asking

The_Conductor

Rew wrote: »

Hopefully sellers are going to take a long hard look at the prices they are asking

The only sellers who are actually selling- are those who are desperate.
Most sellers have put off selling until later in the year- or 2017- when they expect a relaxation of the Central Bank rules to provide firm underpinnings to the market. Unfortunately the commentary from the Central Bank- on how they plan to evaluate how the deposit rules are working later this year- has had a chilling effect on the market.

Rew

Like I said I hope they take a long hard look at what they are asking. Credit is restricted with the goal to deflate prices which is happening. So the rules are having the intended affect, I wouldn't be gambling on much in the way of a change post review but thats just me.