Brexit Irish property price for sale crash again

draiochtanois

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draiochtanois

draiochtanois wrote: »

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Both are second floor.

intheclouds

Kaylie Savory Alfalfa wrote: »

Here is one very strong example of what I'm encountering.

From the property price register.

13/06/2016 €201,000.00 33 ORCHARD COURT, ORCHARD RD, VICTORIA CROSS

Asking price on the above was 165k http://www.daft.ie/cork/apartments-for-sale/wilton/33-orchard-courtvictoria-cross-wilton-cork-1179279/.

Also look below, sold one month earlier for over 30k less and as far as I remember the one below was actually a nicer apartment (more recently done up I mean the actual apartments are more or less identical).

04/05/2016 €167,000.00 13 ORCHARD COURT, VICTORIA CROSS, CORK.

Contents could have been included on the higher one, or simply a quick sale required on the lower one.

Also - the date on the PPR only reflects the date the thing was entered on it - some properties dont appear on it for months after they sell.

Bob24

intheclouds wrote: »

Contents could have been included, or simply a quick sale required on the lower one.

And again examples of selling prices being above asking prices don't prove in any way that asking prices are a meaningful measure. There could be 5 apartments in the area advertised for unrealistic prices for months which will never sell but are increasing the average asking price reported by Daft (even though they don't mean anything about the actual price of property at this location).

audi12

Kaylie Savory Alfalfa wrote: »

http://m.rte.ie/news/2016/0704/799971-property-price-rises/

Still going to keep claiming prices fell?

Are you okay you seem to have some issue I dont particularly care if prices fall or rise if you have an issue contact the Irish times who reported that house prices fell.

I didnt make it up it may not suite you that house prices fell outside Dublin but they did according to those websites so deal with it.

As for that link you showed me there a five year old could see through daft shows asking prices not selling prices they mention cities nothing about outside the cities I wonder why this is???. And finally all outlets are afraid of their life of a brexit property crash hence this mickey mouse articles with no substance.

I wouldn't buy now in a million years sheep following sheep in this country brexit unfolding and supply increasing by 2018-2020.

audi12

audi12 wrote: »

Are you okay you seem to have some issue I dont particularly care if prices fall or rise if you have an issue contact the Irish times and my home.ie who reported that house prices fell.

From the article I linked: "The Myhome report showed a 5% rise in asking prices nationally for new properties in the second three months of 2016."

audi12 wrote: »

I didnt make it up it may not suite you that house prices fell outside Dublin but they did according to those websites so deal with it

No it doesn't suit me, I wish you were correct but you aren't. I also posted an example of a property that I had been tracking showing a 30k rise in price for two almost identical properties.

Rew

Worth remembering that we all tend to follow our own little corner of the market and My Home, Daft and CSO report National figures and some regional ones. Your corner may well be falling while others are rising.

audi12

Kaylie Savory Alfalfa wrote: »

From the article I linked: "The Myhome report showed a 5% rise in asking prices nationally for new properties in the second three months of 2016."



No it doesn't suit me, I wish you were correct but you aren't. I also posted an example of a property that I had been tracking showing a 30k rise in price for two almost identical properties.

I read the mickey mouse article asking prices mean nothing all that matters is what people are willing to pay.

So what if someone asks 30 k more that means nothing it is for one property a made up price to convince mugs that they need to act now. A person on another thread put in a offer on a house without getting a quote from a builder first said work was needed but didnt know what it was going to cost an example of some of the experts that are buying houses.

You are buying in Cork Galway city Dublin there is more areas besides the cities in Ireland. The areas I am looking in are flat so I am not worried I can wait everyone has to make up their own mind in the areas that are rising there is no sense in buying in to that madness. You buy after house prices have fell not risen.

audi12

audi12 wrote: »

You buy after house prices have fell not risen.

You are looking to buy as an investment its very different if you want a house to live in and want it now or very soon. Holding out for falls in prices that might not happen for years if at all while paying rent and not being happy where you live is not a suitable course of action for many people.

audi12 wrote: »

So what if someone asks 30 k more that means nothing it is for one property a made up price to convince mugs that they need to act now.

It wasn't just asking 30k more was paid for one place over another because prices rose in the period in between, this period being the one you claim prices have fallen. Also its not much use claiming there are areas where prices are flat when these areas are not where most people are buying. Of course there will be areas where prices are not rising but in the cities prices are rising and this is where a lot of people are looking to buy.

draiochtanois

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audi12

draiochtanois wrote: »

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I dont care about buyers around the country.

Michael D Not Higgins

Guys, you clearly differ on the ins and outs of your various data sources and metrics. Can we leave it at that or take it to PM please?

audi12

Michael D Not Higgins wrote: »

Guys, you clearly differ on the ins and outs of your various data sources and metrics. Can we leave it at that or take it to PM please?

Fair enough

cardinal tetra

audi12 wrote: »

I dont care about buyers around the country.

You bloody well should based on the reports that came out today that you have been banging on about the last 5 pages saying the world is ending and property will crash.

audi12

cardinal tetra wrote: »

You bloody well should based on the reports that came out today that you have been banging on about the last 5 pages saying the world is ending and property will crash.

What reports and I have no idea what you are on about the world ending property is going to fall with brexit over the next few months everyone knows that.

Property has risen over the last year what a shock.

athtrasna

Mod note

This thread is on borrowed time having already been closed once. Can we quit with the sniping and get back to the topic at hand please. Thank you.

Rew

https://www.theguardian.com/business/2016/jul/04/standard-life-shuts-property-fund-post-brexit-withdrawals

UK property fund has suspended withdrawals after their was an big uptick in requests. They are going to have to sell some property to reinstate withdrawals. Doesn't directly affect Irish property and its only one fund but if more do the some will certainly have consequences on the UK property market.

audi12

Rew wrote: »

https://www.theguardian.com/business/2016/jul/04/standard-life-shuts-property-fund-post-brexit-withdrawals

UK property fund has suspended withdrawals after their was an big uptick in requests. They are going to have to sell some property to reinstate withdrawals. Doesn't directly affect Irish property and its only one fund but if more do the some will certainly have consequences on the UK property market.

http://www.telegraph.co.uk/property/uk/singapore-bank-halts-london-mortgage-lending-following-brexit/

Rew

audi12 wrote: »

http://www.telegraph.co.uk/property/uk/singapore-bank-halts-london-mortgage-lending-following-brexit/

Hardly a surprise given London is so inflated, its a no brainer for them to back off it for now. They aren't stopping lending against other parts of the UK.

audi12

Rew wrote: »

Hardly a surprise given London is so inflated, its a no brainer for them to back off it for now. They aren't stopping lending against other parts of the UK.

Almost all of this investment was in London. Of a total $22bn invested by Asian buyers in the period, $20bn was in the capital.

They are not lending to any part of England

Villa05

Rew wrote:

UK property fund has suspended withdrawals after their was an big uptick in requests. They are going to have to sell some property to reinstate withdrawals. Doesn't directly affect Irish property and its only one fund but if more do the some will certainly have consequences on the UK property market.

BOI and I think aib have UK operations, and obviously ulster bank. They need this like a hole in the head. Remember when we're told that we need mot worry about sub prime.

Rew

Villa05 wrote: »

BOI and I think aib have UK operations, and obviously ulster bank. They need this like a hole in the head. Remember when we're told that we need mot worry about sub prime.

Yeah totally but right now its all uncertainty and panic they (in theory) could right the ship again and contain the damage. It would certainly be a bad sign to see more funds stop withdrawals.

cardinal tetra

audi12 wrote: »

Almost all of this investment was in London. Of a total $22bn invested by Asian buyers in the period, $20bn was in the capital.

They are not lending to any part of England

Stop. Please.

People read these threads and your opinion can influence people. Got like a broken record of speculation and personal opinion which is unfounded and condescending now. You just post the first thing that comes into your head like someone ringing in to Adrian Kennedy show.

I'm not posting again on this thread. I just want to ensure this post stays here to counteract you.

Good day sir.

catbear

I was thinking of buying a place in the UK, wife is thinking of doing a course or a few years there. Anyhow we contacted british brokers and we were told that with a 15% deposit all we'd need to secure a mortgage was a work contract. No payslips or credit history.
I could easier provide that myself.
This was just before Brexit but my feeling on it was that it's like they learned nothing from 2008. There was a slowdown in property well before brexit but I reckon it's downhill from here.

On the flipside I know businesses that are now planning to move to ireland post brexit and that's going to impact the market here.

The UK and Irish markets are increasingly decoupled and I don't believe what happens there happens here like it used to.

Villa05

catbear wrote:

The UK and Irish markets are increasingly decoupled and I don't believe what happens there happens here like it used to.

Still our largest trading partner, surely that can't be dismissed as being trivial to our economy.

seamus

Villa05 wrote: »

Still our largest trading partner, surely that can't be dismissed as being trivial to our economy.

Actually on paper, the US are our largest export partner, but that's mostly down the tax stuff they do.

The UK has been slowly dipping in our exports, from ~15% of our trade in 1996 to around 13.5% now.

In real terms we are worth more to them - we import about 30% more goods from the UK than we export, though obviously in relative terms we're still a small part of their export economy.

But the point stills stands - we're not as sensitive to economic problems in the UK as we once were. There was a time when economic gloom in the UK guaranteed we'd follow suit.

seamus

seamus wrote: »

In real terms we are worth more to them - we import about 30% more goods from the UK than we export, though obviously in relative terms we're still a small part of their export economy.

If you look and food and drink exports though the UK makes up over 40% of our exports which makes them vital for our agri and food sector.

seamus

Kaylie Savory Alfalfa wrote: »

If you look and food and drink exports though the UK makes up over 40% of our exports which makes them vital for our agri and food sector.

Which itself is about 10% of our export economy.

I'm not downplaying the ****storm that would occur if 40% of food and agri was to go down the pan, but in wider terms it's only 4% of our exports. Any reduction would be severe for those in it, but the rest of the economy largely untouched.

There would also be a large opportunity there to steal the UK's export share to the EU.

L1011

The UK is still going to need to feed itself and bar maybe buying beef in from South America (but not Argentina) they're still going to need to buy from us.

themainman2010

Guys these funds bought lots of Irish Property so guess what they will be selling? Yes Loads of Irish property :-(

Google it :-)