Property Market 2019

duffman13

cherryghost wrote: »

Only in the settled Clondalkin area. The increases aren't as dramatic as other areas but it's still a bit of a shock. I took my eye off the ball on prices once I got mine and settled down.



I can see where that's coming from. Rent is very high, expensive crap house would probably yield a lower mortgage than absurdly high rent costs, and also some housing security for the future.

Prices peeked out earlier this year, a lot of people around Cherrywood and Ashwood/Alpine trying to get out before Clonburris commences. Prices seem to have stabilised a little in the last few weeks in the area after maxing out in January/February from what I can see. I bought in 2012, selling now, massive amount of equity thankfully but staying Clondalkin, just moving. Some parts are excellent and great value but when you see houses in the rougher parts with asking prices in 250k price bracket, you know there is something wrong.

Personally we went sale agreed after 8 weeks, not a huge amount of interest, we had a set asking price and a couple offered and we accepted straight away.

Bid 45k under on a property that went up the same time as ours, offer rejected but willing to negotiate. Got it for 35k less than asking which was a win in my book seeing as I would have went more if there was another bidder involved. There is value in the market but asking prices in certain areas are a target and some people are just mental with their expectations.

Another property we viewed with an asking price of 420, no offers, threw an offer a down (410) and EA came back saying no but 480 would get it off the market. Nice house and probably worth 420-430 but when vendors think 420 is a reasonable asking price but want 480 to take it off the market

5500

duffman13 wrote: »

Prices peeked out earlier this year, a lot of people around Cherrywood and Ashwood/Alpine trying to get out before Clonburris commences. Prices seem to have stabilised a little in the last few weeks in the area after maxing out in January/February from what I can see. I bought in 2012, selling now, massive amount of equity thankfully but staying Clondalkin, just moving. Some parts are excellent and great value but when you see houses in the rougher parts with asking prices in 250k price bracket, you know there is something wrong.

Personally we went sale agreed after 8 weeks, not a huge amount of interest, we had a set asking price and a couple offered and we accepted straight away.

Bid 45k under on a property that went up the same time as ours, offer rejected but willing to negotiate. Got it for 35k less than asking which was a win in my book seeing as I would have went more if there was another bidder involved. There is value in the market but asking prices in certain areas are a target and some people are just mental with their expectations.

Another property we viewed with an asking price of 420, no offers, threw an offer a down (410) and EA came back saying no but 480 would get it off the market. Nice house and probably worth 420-430 but when vendors think 420 is a reasonable asking price but want 480 to take it off the market

Te closer you go to the village there the prices skyrocket, eg st brigids seems to sell around the 420k mark, 2 mins away in newlands and your up to 470/480 for old houses needing about 100k to bring them up to date. If it's anything detached or with a bigger garden ect you can expect it to easily break 500k down there, I thought it was the opposite around there with good value being hard to find

duffman13

5500 wrote: »

Te closer you go to the village there the prices skyrocket, eg st brigids seems to sell around the 420k mark, 2 mins away in newlands and your up to 470/480 for old houses needing about 100k to bring them up to date. If it's anything detached or with a bigger garden ect you can expect it to easily break 500k down there, I thought it was the opposite around there with good value being hard to find

If you look at the property price register, a lot of these prices aren't selling at the asking price. 2 of those house in Brigids up for 10 months, viewed both, needed about 80k worth of woek done, 340 or so would be a good price. I know one price dropped last week to 380 and the other is still 410(in worse condition). One of the neighbours told me another one on that road was sold before going to the market for 360. The one on the road went for 375 I think, needed a little less work but still about 60k.

There was two modern houses in Brigids that went sale agreed at 450 and 438 but not on PPR yet.

One for Laurel Park, Castle and a few houses in monastery have all been up for months with no movement. Anything on the new road or newlands is pricey but massive amounts of space in the houses and gardens.

karenalot

I’ve been searching for a period or character house recently around Dublin and they are still getting snapped up. It seems anything that’s unique, has charm or a decent location is worth a punt to buyers, perhaps because they see themselves living there long term or fear they might not find something similar.

2nd hand 3 bed semis in the suburbs are not however, I sold one last year at what seemed to be the peak. Houses in the same estates and similar are selling for approx 8% less now.

ifElseThen

We're living in Cherrywood and looking to move in the next year or so.

Mostly because there's a roughness creeping in, the big Corkagh Grange build and the proposed development at the Eircom building.
Looking to move either up around the village or out to Celbridge/Naas.

The prices for the size around Newlands are unrivalled but at the end of the day tell anyone it's Clondalkin, and they'll bring up the shootings, drug seizures etc. People don't discern between the village and the rest of Clondalkin.

The village and surrounding estates are great and probably the best location in Dublin in terms of access to transport, Luas, N4, N7, M50 N & South right beside you.

I'd miss Corkagh Park terribly too, great amenity to have on your doorstep if you have young children.

Interested Observer

Bluefoam wrote: »

I didn't raise the question of profit... I was only responding to another poster.

BTW. I am aware that life can get in the way, however, property purchase is a massive investment and for many requires years of planning and there are some very tough questions that need to be answered in order to complete the purchase. Even considering life changing events, a year is a very swift reaction time...

What good is any of this ****e to anyone? That poster can hop in his time machine there and take your sage advice with him.

terrydel

ifElseThen wrote: »

We're living in Cherrywood and looking to move in the next year or so.

Mostly because there's a roughness creeping in, the big Corkagh Grange build and the proposed development at the Eircom building.
Looking to move either up around the village or out to Celbridge/Naas.

The prices for the size around Newlands are unrivalled but at the end of the day tell anyone it's Clondalkin, and they'll bring up the shootings, drug seizures etc. People don't discern between the village and the rest of Clondalkin.

The village and surrounding estates are great and probably the best location in Dublin in terms of access to transport, Luas, N4, N7, M50 N & South right beside you.

I'd miss Corkagh Park terribly too, great amenity to have on your doorstep if you have young children.

Corkagh Park is truly a gift. I lived on boot road for about 3 years before I knew it was there! It's a wonderful Park, as good as any around.

Star Lord

Live near it myself, but moving away soon. We're really going to miss Corcaigh Park being almost on our doorsteps! Will have to make fairly frequent visits after we move!

terrydel

Star Lord wrote: »

Live near it myself, but moving away soon. We're really going to miss Corcaigh Park being almost on our doorsteps! Will have to make fairly frequent visits after we move!

My parents live in Kilnamanagh, we are currently 10 mins past Blessington, but we'd often stop into Corcagh Park if visiting my folks, bring the dogs and use the dog run which is great, and have a nice walk. Love it there.

theballz

Hi All,

I hope you don’t mind picking your brains, would really appreciate any guidance/opinion you can give here.

3 months I sale agreed my dream home. It wasn’t cheap and I’ve stretched my limit in terms of mortgage etc. the process to close has been very difficult, stressful and deflating. I have a closing date agreed in early sept but it looks to becoming increasingly unlikely.

In short, I am nervous. It’s my dream home but the spark has slightly died. My main concern is the market, it’s obviously unpredictable in terms of how it will go but one thing is for certain is Brexit. Is it unanimously accepted that Brexit (leave or not) will have some sort of effect on the Irish property market?

If so, what kind of affect should we anticipate? Are houses guaranteed to fall in Brexit?

All help, comments, thoughts much appreciated

Ballz

99problems1

Rent prices are scary.

AlmightyCushion

theballz wrote: »

Hi All,

I hope you don’t mind picking your brains, would really appreciate any guidance/opinion you can give here.

3 months I sale agreed my dream home. It wasn’t cheap and I’ve stretched my limit in terms of mortgage etc. the process to close has been very difficult, stressful and deflating. I have a closing date agreed in early sept but it looks to becoming increasingly unlikely.

In short, I am nervous. It’s my dream home but the spark has slightly died. My main concern is the market, it’s obviously unpredictable in terms of how it will go but one thing is for certain is Brexit. Is it unanimously accepted that Brexit (leave or not) will have some sort of effect on the Irish property market?

If so, what kind of affect should we anticipate? Are houses guaranteed to fall in Brexit?

All help, comments, thoughts much appreciated

Ballz

No one really knows what's going to happen with Brexit (deal or no deal) and what effect it will have on the property market. Saying that, as long as you plan to live in your house instead of flipping it in a few years it won't really affect you.

beauf

If you are going to be in your house or own it for a decade or two bexit is unlikely to have any long term effect for you.

airportgirl83

theballz wrote: »

Hi All,

I hope you don’t mind picking your brains, would really appreciate any guidance/opinion you can give here.

3 months I sale agreed my dream home. It wasn’t cheap and I’ve stretched my limit in terms of mortgage etc. the process to close has been very difficult, stressful and deflating. I have a closing date agreed in early sept but it looks to becoming increasingly unlikely.

In short, I am nervous. It’s my dream home but the spark has slightly died. My main concern is the market, it’s obviously unpredictable in terms of how it will go but one thing is for certain is Brexit. Is it unanimously accepted that Brexit (leave or not) will have some sort of effect on the Irish property market?

If so, what kind of affect should we anticipate? Are houses guaranteed to fall in Brexit?

All help, comments, thoughts much appreciated

Ballz

If:
- it is truly your dream home,
- you see yourself living in it min 10 years, - you will be able to keep up the repayments comfortably if interest rates go up,
- your job is stable and not in a sector directly exposed to Brexit

then imo go for it.

SozBbz

theballz wrote: »

Hi All,

I hope you don’t mind picking your brains, would really appreciate any guidance/opinion you can give here.

3 months I sale agreed my dream home. It wasn’t cheap and I’ve stretched my limit in terms of mortgage etc. the process to close has been very difficult, stressful and deflating. I have a closing date agreed in early sept but it looks to becoming increasingly unlikely.

In short, I am nervous. It’s my dream home but the spark has slightly died. My main concern is the market, it’s obviously unpredictable in terms of how it will go but one thing is for certain is Brexit. Is it unanimously accepted that Brexit (leave or not) will have some sort of effect on the Irish property market?

If so, what kind of affect should we anticipate? Are houses guaranteed to fall in Brexit?

All help, comments, thoughts much appreciated

Ballz

No one knows what will happen with brexit, but we each still need a roof over our heads.

Once its not a short term home, I'd still go for it.

Buying a house is one of the most stressful things you do in your life. Its normal to have some second thoughts, but if its really your dream home and if you can really afford it, then don't let your own doubts sabotage you.

Interested Observer

theballz wrote: »

Hi All,

I hope you don’t mind picking your brains, would really appreciate any guidance/opinion you can give here.

3 months I sale agreed my dream home. It wasn’t cheap and I’ve stretched my limit in terms of mortgage etc. the process to close has been very difficult, stressful and deflating. I have a closing date agreed in early sept but it looks to becoming increasingly unlikely.

In short, I am nervous. It’s my dream home but the spark has slightly died. My main concern is the market, it’s obviously unpredictable in terms of how it will go but one thing is for certain is Brexit. Is it unanimously accepted that Brexit (leave or not) will have some sort of effect on the Irish property market?

If so, what kind of affect should we anticipate? Are houses guaranteed to fall in Brexit?

All help, comments, thoughts much appreciated

Ballz

Nothing is ever guaranteed, other than we'll all kick the bucket at some point.

If this is your dream house and you're sale agreed on it, withdrawing because of Brexit would be a mad decision to make imo.

Bluefoam

theballz wrote: »

Hi All,

I hope you don’t mind picking your brains, would really appreciate any guidance/opinion you can give here.

3 months I sale agreed my dream home. It wasn’t cheap and I’ve stretched my limit in terms of mortgage etc. the process to close has been very difficult, stressful and deflating. I have a closing date agreed in early sept but it looks to becoming increasingly unlikely.

In short, I am nervous. It’s my dream home but the spark has slightly died. My main concern is the market, it’s obviously unpredictable in terms of how it will go but one thing is for certain is Brexit. Is it unanimously accepted that Brexit (leave or not) will have some sort of effect on the Irish property market?

If so, what kind of affect should we anticipate? Are houses guaranteed to fall in Brexit?

All help, comments, thoughts much appreciated

Ballz

If you pull out, will the next purchase be easier? Probably not...

Bluefoam

Bluefoam wrote: »

I find this crazy... how did you make the decision to spend €235,000 on a house that you weren't sure you'd want to live in... to sell after a year seems to be poor descision making... BTW, if you get 240k for it thats a 2% gain... thats okay for a years investment... what were you expecting?

Fair few replies here so let me clarify.

I bought the house just over a year ago with good intentions. I have had neighbours who constantly slam doors and seem to have a social schedule out of norm, not music but coming and going and slamming the doors so loud it wakes me. Its not all there fault, the house is not well soundproofed, i have weighed up the cost of soundproofing, how much i need to spend on the kitchen, bathroom etc. and have decided it just isnt worth it with the racket from next door. Life is too short to put up with it and i have said it a few times to them and who knows they could be there for years or else another family worse could move in. Its a rental and maybe the landlord might sell but i doubt it.

I am looking at buying a detached somewhere, i dont want to have to get used to sleeping with ear plugs. Its a year of frustration and as i said life is too short.

You might say 5k is a lot in a year, houses are getting 245 at the moment so i hope just break even.

Hope this clears up the 'crazy and poor decision making' comment. its a decent location so the decision was not crazy, i did not realise the poor quality of the houses and the neighbours i would be stuck with. So i need 6.5% to break even

I am even thinking about approaching the council to save on the estate agent fees

Bluefoam

Deleted User wrote: »

Bluefoam wrote: »

I find this crazy... how did you make the decision to spend €235,000 on a house that you weren't sure you'd want to live in... to sell after a year seems to be poor descision making... BTW, if you get 240k for it thats a 2% gain... thats okay for a years investment... what were you expecting?

Fair few replies here so let me clarify.

I bought the house just over a year ago with good intentions. I have had neighbours who constantly slam doors and seem to have a social schedule out of norm, not music but coming and going and slamming the doors so loud it wakes me. Its not all there fault, the house is not well soundproofed, i have weighed up the cost of soundproofing, how much i need to spend on the kitchen, bathroom etc. and have decided it just isnt worth it with the racket from next door. Life is too short to put up with it and i have said it a few times to them and who knows they could be there for years or else another family worse could move in. Its a rental and maybe the landlord might sell but i doubt it.

I am looking at buying a detached somewhere, i dont want to have to get used to sleeping with ear plugs. Its a year of frustration and as i said life is too short.

You might say 5k is a lot in a year, houses are getting 245 at the moment so i hope just break even.

Hope this clears up the 'crazy and poor decision making' comment. its a decent location so the decision was not crazy, i did not realise the poor quality of the houses and the neighbours i would be stuck with. So i need 6.5% to break even

I am even thinking about approaching the council to save on the estate agent fees

I hope it works out, not a pleasant situation to be in. Best with the move.

terrydel

theballz wrote: »

Hi All,

I hope you don’t mind picking your brains, would really appreciate any guidance/opinion you can give here.

3 months I sale agreed my dream home. It wasn’t cheap and I’ve stretched my limit in terms of mortgage etc. the process to close has been very difficult, stressful and deflating. I have a closing date agreed in early sept but it looks to becoming increasingly unlikely.

In short, I am nervous. It’s my dream home but the spark has slightly died. My main concern is the market, it’s obviously unpredictable in terms of how it will go but one thing is for certain is Brexit. Is it unanimously accepted that Brexit (leave or not) will have some sort of effect on the Irish property market?

If so, what kind of affect should we anticipate? Are houses guaranteed to fall in Brexit?

All help, comments, thoughts much appreciated

Ballz

The waitibg and whole process of buying a house here in Ireland will certainly do that to you, I'm sure many feel that initial spark go over the course of completing the purchase. It's a very trying process. But if you are buying it as a long term home, you need to look past that. Something obviously made you feel that way in the first place, and I doubt those reasons have changed. What's doing it is the fact that we all know that in general the market has peaked and is probably on a downward curve in a lot of areas. But if it's a home for life that shouldnt matter. The problem with this country is we are conditioned into seeing property as an asset to profit from, and not the secure roof over your head it should be. It's a horrible attitude that has destroyed this country in so many ways. Push this mindset aside, buy the house, live your life.

Bluefoam

terrydel wrote: »

theballz wrote: »

Hi All,

I hope you don’t mind picking your brains, would really appreciate any guidance/opinion you can give here.

3 months I sale agreed my dream home. It wasn’t cheap and I’ve stretched my limit in terms of mortgage etc. the process to close has been very difficult, stressful and deflating. I have a closing date agreed in early sept but it looks to becoming increasingly unlikely.

In short, I am nervous. It’s my dream home but the spark has slightly died. My main concern is the market, it’s obviously unpredictable in terms of how it will go but one thing is for certain is Brexit. Is it unanimously accepted that Brexit (leave or not) will have some sort of effect on the Irish property market?

If so, what kind of affect should we anticipate? Are houses guaranteed to fall in Brexit?

All help, comments, thoughts much appreciated

Ballz

The waitibg and whole process of buying a house here in Ireland will certainly do that to you, I'm sure many feel that initial spark go over the course of completing the purchase. It's a very trying process. But if you are buying it as a long term home, you need to look past that. Something obviously made you feel that way in the first place, and I doubt those reasons have changed. What's doing it is the fact that we all know that in general the market has peaked and is probably on a downward curve in a lot of areas. But if it's a home for life that shouldnt matter. The problem with this country is we are conditioned into seeing property as an asset to profit from, and not the secure roof over your head it should be. It's a horrible attitude that has destroyed this country in so many ways. Push this mindset aside, buy the house, live your life.

Can't... It's my pension, my equity, my protection for the future... I need it when I'm old and preferably it should hold monetary value to make my old age more comfortable.

spectre

A lot of folks here effectively saying that the price doesn't matter as long as you're planning on living there in the long term....

IMO this is total nonsense - you've made a mistake if you pay too much for any asset, be it a house, car or whatever. The fact that you're paying for this mistake spread out over 30 years is irrelevant. Like it or not, buying a house is an investment.

kippy

spectre wrote: »

A lot of folks here effectively saying that the price doesn't matter as long as you're planning on living there in the long term....

IMO this is total nonsense - you've made a mistake if you pay too much for any asset, be it a house, car or whatever. The fact that you're paying for this mistake spread out over 30 years is irrelevant. Like it or not, buying a house is an investment.

'Within reason' should be the unsaid and fairly obvious caveat.
What is 'too much' and how do you know you've paid 'too much'?
If you somehow figure out that the 'too much' is 5K and you believe the OP made a mistake fair enough. Call it a mistake but then weigh up the alternatives and other variables at play. Eg, not getting the asset at all, having to wait and visit more places, time renting etc etc
Then consider the market at the time. Rising market, falling market etc etc..that 5k overpaid at the time could be 15k below market value 9 or 12months time.
You cannot view buying property to live in as your primary residence in the same way as other investments within reason. But if you want to can say to people they are all making mistakes, fair enough, that's what you think but you will most likely never buy if you are afraid that it is a mistake.

karenalot

spectre wrote: »

A lot of folks here effectively saying that the price doesn't matter as long as you're planning on living there in the long term....

IMO this is total nonsense - you've made a mistake if you pay too much for any asset, be it a house, car or whatever. The fact that you're paying for this mistake spread out over 30 years is irrelevant. Like it or not, buying a house is an investment.

Price of courses matters but how much the price will be in the future is the question. There is a big difference in getting a 10K discount or a 100k one. If you believe the property will be 50 or 100k less in 12 months time, then yes, absolutely hold off.

If it’s going to be 10k or 15k less and you are renting then I wouldn’t be too worried about making such a move.

sozbox

Deleted User wrote: »

I am even thinking about approaching the council to save on the estate agent fees

Do this before putting it up for sale, google your local authority housing dept and call or email them, They usually give you a decision pretty quickly if they are interested or not.

sozbox

sozbox wrote: »

Do this before putting it up for sale, google your local authority housing dept and call or email them, They usually give you a decision pretty quickly if they are interested or not.

Just emailed them there, its cork city council and the area only recently came under their control with the boundary extension.

I'll ring them as well on Monday

JJJackal

spectre wrote: »

A lot of folks here effectively saying that the price doesn't matter as long as you're planning on living there in the long term....

IMO this is total nonsense - you've made a mistake if you pay too much for any asset, be it a house, car or whatever. The fact that you're paying for this mistake spread out over 30 years is irrelevant. Like it or not, buying a house is an investment.

One has only overpaid if at the time they sell its worth less imo. Say you buy a house today for 300,000. In 2 years time its worth 250,000. You want to sell in 10 years. In 10 years its worth 300,000 again - in the mean time you have paid down up to 100,000 of the mortgage - consequently you have made a significant profit. Although not a gain on the value of the house.

Your primary residence is a different investment to a buy to let - as not having your own place costs you rent etc...

I agree that buying a place for 1 million that will never be sold for close to that again would be a very bad idea

JJJackal

theballz wrote: »

Hi All,

I hope you don’t mind picking your brains, would really appreciate any guidance/opinion you can give here.

3 months I sale agreed my dream home. It wasn’t cheap and I’ve stretched my limit in terms of mortgage etc. the process to close has been very difficult, stressful and deflating. I have a closing date agreed in early sept but it looks to becoming increasingly unlikely.

In short, I am nervous. It’s my dream home but the spark has slightly died. My main concern is the market, it’s obviously unpredictable in terms of how it will go but one thing is for certain is Brexit. Is it unanimously accepted that Brexit (leave or not) will have some sort of effect on the Irish property market?

If so, what kind of affect should we anticipate? Are houses guaranteed to fall in Brexit?

All help, comments, thoughts much appreciated

Ballz

Everyone (or at least alot of people) assumes Brexit will lead to a drop in house prices. This is not guaranteed. Pre-brexit has lead to a stabilizing of house prices - this is due to uncertainty.

A favourable Brexit (I dont know what a favourable Brexit would look like - who knows if a hard Brexit would result in an influx of people to Ireland, influx of jobs or just complete recession) could lead to a rapid bump in price

airportgirl83

JJJackal wrote: »

theballz wrote: »

Hi All,

I hope you don’t mind picking your brains, would really appreciate any guidance/opinion you can give here.

3 months I sale agreed my dream home. It wasn’t cheap and I’ve stretched my limit in terms of mortgage etc. the process to close has been very difficult, stressful and deflating. I have a closing date agreed in early sept but it looks to becoming increasingly unlikely.

In short, I am nervous. It’s my dream home but the spark has slightly died. My main concern is the market, it’s obviously unpredictable in terms of how it will go but one thing is for certain is Brexit. Is it unanimously accepted that Brexit (leave or not) will have some sort of effect on the Irish property market?

If so, what kind of affect should we anticipate? Are houses guaranteed to fall in Brexit?

All help, comments, thoughts much appreciated

Ballz

Everyone (or at least alot of people) assumes Brexit will lead to a drop in house prices. This is not guaranteed. Pre-brexit has lead to a stabilizing of house prices - this is due to uncertainty.

A favourable Brexit (I dont know what a favourable Brexit would look like - who knows if a hard Brexit would result in an influx of people to Ireland, influx of jobs or just complete recession) could lead to a rapid bump in price

It's not just Brexit but also global conditions like US-China tensions, recession in Germany, Italy, foreign debt crisis in South America. Globally we are due an economic correction / slowdown. It's a cycle.

Cyrus

One thing the gfc has gifted us is a lot of amateur economists who are very sure of themselves !