Property Market 2020

cnocbui

AlmightyCushion wrote: »

https://www.rte.ie/news/business/2020/0612/1147042-cso-planning-permissions/



This is a very good sign.

Not so much if they all get gobbled up by commercial buy-to-let interests, as happened last year.

With the current fall in rents, they may not go ahead, but larger entities tend to take longer views, so who knows.

cnocbui

cnocbui wrote: »

Not so much if they all get gobbled up by commercial buy-to-let interests, as happened last year...............

It's still good news, if built they are increased supply.
I'd fear lots of the 9,698 apartments granted planning permission won't be built now though.

TheSheriff

It will be a really shame if many of these are not built. They would make a dent in the serious lack of quality housing in Dublin, which persists, indifferent to Covid.

Truthvader

TheSheriff wrote: »

It will be a really shame if many of these are not built. They would make a dent in the serious lack of quality housing in Dublin, which persists, indifferent to Covid.

Doubt if much of it will be "quality" to be fair. The record on apartment builds in Ireland is very poor. More and more fire or leak issues emerging by the day

TheSheriff

Did anyone tune into the Sherry Fitz webinar last week on the housing market ? Just had a quick skim through some of it there.

Optimistic ( as expected for an EA), but some realistic arguments also re: demand versus supply.

No ground breaking predictions made or strong conclusions drawn.

Can't link now as on my mobile, but it's on YouTube.

theintern

TheSheriff wrote: »

Did anyone tune into the Sherry Fitz webinar last week on the housing market ? Just had a quick skim through some of it there.

Optimistic ( as expected for an EA), but some realistic arguments also re: demand versus supply.

No ground breaking predictions made or strong conclusions drawn.

Can't link now as on my mobile, but it's on YouTube.

https://youtu.be/-09XmwnVwdc

I found it a reasonable enough analysis. Take with a pinch of salt given it's an EA but I tend to agree with most of their arguments that we won't see a big change. Sure the demand will go down, but there's bugger all supply too.

TheSheriff

theintern wrote: »

https://youtu.be/-09XmwnVwdc

I found it a reasonable enough analysis. Take with a pinch of salt given it's an EA but I tend to agree with most of their arguments that we won't see a big change. Sure the demand will go down, but there's bugger all supply too.

Yeah, all things considered its somewhat balanced.... perhaps overly balanced for Sherry :eek:

I was expecting more of "buy now, the only way is up etc." which there wasn't much of.

Mr Hindley

Shelga wrote: »

There were at least 10 people at a viewing of a horrible apartment I went to last night, although it was particularly cheap.

Was that an open viewing i.e. you were all wandering around together? I assumed that they weren't allowed, although doesn't mean they won't happen, of course.

Or did you all queue up and wait your turn?

Shelga

Mr Hindley wrote: »

Was that an open viewing i.e. you were all wandering around together? I assumed that they weren't allowed, although doesn't mean they won't happen, of course.

Or did you all queue up and wait your turn?

Queued up and waited our turn. They let 2 groups in at a time though, which meant 4 of us plus the EA wandering around the property- it does make you aware of the risks again. As if we can ever forget!

Iceman29

seeing a lot of properties advertised by bidx1 for auction. what would this suggest? banks selling them or people putting them up for auction themselves?

Taylor365

Iceman29 wrote: »

seeing a lot of properties advertised by bidx1 for auction. what would this suggest? banks selling them or people putting them up for auction themselves?

Damaged or war-torn legally probably?

Iceman29

Taylor365 wrote: »

Damaged or war-torn legally probably?

I'd be suprised if they were seriously damaged. Most of them were in nice housing estates

TheSheriff

Iceman29 wrote: »

I'd be suprised if they were seriously damaged. Most of them were in nice housing estates

Perhaps people just looking to sell? Is it more than previously ?

Marius34

Iceman29 wrote: »

seeing a lot of properties advertised by bidx1 for auction. what would this suggest? banks selling them or people putting them up for auction themselves?

It does seem high number, interesting...
Some of the properties seems quite low starting bid.

Like this one for 250.000 in Grand Canal, where in normal case it would sell for around 450.000:
https://bidx1.com/en/en-ie/auction/property/42829

Villa05

Marius34 wrote:

Like this one for 250.000 in Grand Canal, where in normal case it would sell for around 450.000:

Subject to a tenancy till 2034 @14500 per year. Corpo let?

Iceman29

TheSheriff wrote: »

Perhaps people just looking to sell? Is it more than previously ?

no, guide price much lower. seems strange and becoming more common

PommieBast

Villa05 wrote: »

Subject to a tenancy till 2034 @14500 per year. Corpo let?

€14,400pa = €1,200pm. No wonder it is being auctioned.

L1011

Villa05 wrote: »

Subject to a tenancy till 2034 @14500 per year. Corpo let?

Inattentive landlord that didn't raise bottom of market standing rent before the 1 year freeze (15/16 I think?) then RPZ came in is just as plausible.

beauf

Rather than inattentive might have a long term tenant and didn't want to raise the rent. Then realised they are going to be penalised by doing that.

Marcusm

L1011 wrote: »

Inattentive landlord that didn't raise bottom of market standing rent before the 1 year freeze (15/16 I think?) then RPZ came in is just as plausible.

It states that there are 14 years left at that rate; would expect it doesn’t even benefit from 2/4% pa RPZ limit.

The_Conductor

Marcusm wrote: »

It states that there are 14 years left at that rate; would expect it doesn’t even benefit from 2/4% pa RPZ limit.

Whats with the abnormally long lease though? Even a local authority lease- is normally for 10 year period, not longer (as they like to hand it back at that stage- aside from any other factor, it would probably need to be thoroughly redecorated).

dwayneshintzy

nerrad01 wrote: »

you wont even get a 1 bed in those areas for that price

Maybe not, but I've seen something like this advertised which seems decent;

https://touch.daft.ie/for-sale/apartment-188-seven-oaks-sarsfield-road-inchicore-co-dublin/2488717#img=8

JJJackal

Least its clear why its 250,000. If bought at that 5.7% return per year.

E1 energy rating. Suspect management fees are high. Might suit a cash buyer. Suppose thats why its cheap on BidX1

Claw Hammer

JJJackal wrote: »

Least its clear why its 250,000. If bought at that 5.7% return per year.

E1 energy rating. Suspect management fees are high. Might suit a cash buyer. Suppose thats why its cheap on BidX1

It is being sold by sherry Fitzgerald. Where is it on Bidx1?

JJJackal

Claw Hammer wrote: »

It is being sold by sherry Fitzgerald. Where is it on Bidx1?

250.000 in Grand Canal:
https://bidx1.com/en/en-ie/auction/property/42829

Claw Hammer

JJJackal wrote: »

250.000 in Grand Canal:
https://bidx1.com/en/en-ie/auction/property/42829

That is not the same apartment! Furthermore the apartment is occupied.

JJJackal

Claw Hammer wrote: »

That is not the same apartment! Furthermore the apartment is occupied.

Sorry this is from discussion at top of page. The other post was written while i wrote my post

ElBastardo1

JJJackal wrote: »

Least its clear why its 250,000. If bought at that 5.7% return per year.

E1 energy rating. Suspect management fees are high. Might suit a cash buyer. Suppose thats why its cheap on BidX1

The fact there is no photos of the inside screams out to me there is more going on behind the scenes. A uncooperative tenant?

JJJackal

ElBastardo1 wrote: »

The fact there is no photos of the inside screams out to me there is more going on behind the scenes. A uncooperative tenant?

There is a 14 year lease LOL

guyfawkes5

Maybe someone was desperate for steady income in the depths of the last recession and signed a very long lease.