Irish Property Market 2020 Part 2

Pelezico

Balluba wrote: »

I constantly pass a house that I would like to buy. It has been rented out for several years. It had a market value of around €530,000 (pre covid) A friend checked it out and it sold to the current owners in 1997 with a charge of 120,000 held by the Bank. In 2017 that charge of €120,000 was sold on by the bank to Oyster Prementoria (vulture)
This house suits me for many reasons and there is no other house like it on the road. Am I wasting my time hoping that it will come on the market?

Yeah

neutral guy

Balluba wrote: »

I constantly pass a house that I would like to buy. It has been rented out for several years. It had a market value of around €530,000 (pre covid) A friend checked it out and it sold to the current owners in 1997 with a charge of 120,000 held by the Bank. In 2017 that charge of €120,000 was sold on by the bank to Oyster Prementoria (vulture)
This house suits me for many reasons and there is no other house like it on the road. Am I wasting my time hoping that it will come on the market?

God ways unknown.Simply keep holding and increasing your ammount of money and keep looking.

Pelezico

neutral guy wrote: »

God ways unknown.Simply keep holding and increasing your ammount of money and keep looking.

The one house in the universe which will make him happy. Imagine that.

Hubertj

Pelezico wrote: »

The one house in the universe which will make him happy. Imagine that.

DREAM HOME? FOREVER HOME?

cnocbui

PropQueries wrote: »

Interesting article on university students, Covid and the rental market “Students in rush for cars as they can’t afford rents in the city”.

“Peter remarked that his own daughter had an accommodation bill of €10,000 in college in Dublin last year, without accounting for food, fees or other expenses.

Due to COVID, some students may only be going back for eight hours a week of lectures and to have to pay a full week’s accommodation for that would be madness."

Link to article in Irish independent here: https://m.independent.ie/regionals/corkman/news/students-in-rush-for-cars-as-they-cant-afford-rents-in-the-city-39537471.html

A young hair dresser I met, near Limerick, said she was looking for somewhere to rent locally, but was having difficulty, as she wanted to reduce her commute from Ennis to Dublin for college.

Balluba

Pelezico wrote: »

Were you hitting on her at the time?

Pelezico that was designed to appeal to the lowest common denominator
There’s no need to be so critical

Leozord

Assetbacked wrote: »

On (1) we know that even the tech companies have cut jobs and where they haven't, they have stopped hiring.

By my personal experience, this is not true

My company is hiring here in Dublin. We hired professionals/interns during the pandemic, without even face-to-face meeting. People are still joining on a weekly basis.

Job offers from linkedin recruiters haven't been impacted, to be honest I've received even more offers.

I'm not saying tech is flying and it is unbeatable, but it didn't get any major impact, at least within my social circle.

Are there any other SDEs here who could relate?

Wanderer78

Leozord wrote: »

By my personal experience, this is not true

My company is hiring here in Dublin. We hired professionals/interns during the pandemic, without even face-to-face meeting. People are still joining on a weekly basis.

Job offers from linkedin recruiters haven't been impacted, to be honest I've received even more offers.

I'm not saying tech is flying and it is unbeatable, but it didn't get any major impact, at least within my social circle.

Are there any other SDEs here who could relate?

makes sense that the sector is doing very well during the pandemic, for obvious reasons

Curious_Case

Is there an Irish website that can estimate property value based on the usual parameters ?

House type
No. of beds
No. of bathrooms
Size of garden
Parking
County etc.

Property Price Register isn't really helpful as mine is a poorly maintained house, but in a good area.

Mic 1972

I changed job during the pandemic/lock-down, i was unemployed for barely one month before finding a new job.

Wanderer78

Curious_Case wrote: »

Is there an Irish website that can estimate property value based on the usual parameters ?

House type
No. of beds
No. of bathrooms
Size of garden
Parking
County etc.

Property Price Register isn't really helpful as mine is a poorly maintained house, but in a good area.

daft or myhome any good with that stuff?

coolshannagh28

Wanderer78 wrote: »

nope, the rapid rise of private debt was the main cause of the last recession, this is clearly obvious in the data, and this was obviously due to the encouragement of rapidly growing property prices and connected activities, etc. again, theres also plenty of data and research to prove, rising private debt is far more dangerous than rapidly rising public debt, this just doesnt suit certain political and economic ideologies

This may not be the proper forum but of our current 200bn + debt , 50 was carried into the last recession and roughly 40 be went into the banking and property sector and the balance of 110 + billion went into the public side .

Wanderer78

coolshannagh28 wrote: »

This may not be the proper forum but of our current 200bn + debt , 50 was carried into the last recession and roughly 40 be went into the banking and property sector and the balance of 110 + billion went into the public side .

oh i completely disagree there, property is one of the main reasons for the rapid rise in both private and public debt, particularly private debt, and its clearly obvious in the data. once again, there also plenty of proof, historically, that rapidly growing private debt causes for more crashes, and far more serious crashes, as we ve recently experienced, yet again!

TheSheriff

Leozord wrote: »

By my personal experience, this is not true

My company is hiring here in Dublin. We hired professionals/interns during the pandemic, without even face-to-face meeting. People are still joining on a weekly basis.

Job offers from linkedin recruiters haven't been impacted, to be honest I've received even more offers.

I'm not saying tech is flying and it is unbeatable, but it didn't get any major impact, at least within my social circle.

Are there any other SDEs here who could relate?

Other half works in Tech, she successfully applied, interviewed and was hired into a new company all during lockdown. It was all relatively business as usual.

No doubt its not flying, but definitely I think this will create somewhat of a two-tier society, both in terms of those whose sectors are impacted versus those that are not and also those who can WFH and those who cant.

Have a house viewing later this evening, seems the EA's have reverted to being quite strict (rightly so) on times for viewing etc. in light of new measures in Dublin. 15 minutes max to look around the house Not really adequate in our opinion for such a large purchase!! Only round 1 of viewings tough.

beauf

Within IT it varies you might be in area in great demand or an industry that has collapsed. Some of my IT peers are in medical and some are in aviation.

beauf

Curious_Case wrote: »

Is there an Irish website that can estimate property value based on the usual parameters ?

House type
No. of beds
No. of bathrooms
Size of garden
Parking
County etc.

Property Price Register isn't really helpful as mine is a poorly maintained house, but in a good area.

You basically have to check online the houses that have sold on the same road, see through ads and Google maps which are most similar. You'll find some are better and some are worse. Put yours in the middle.

You also have to allow 20-40k that someone is going to have to hold back for refurbishing.

Then also consider if the property has any added value, size of garden, aspect, location in the road, expansion potential.

Mic 1972

Tech companies hire into a variety of jobs that may not be technical at all.
If the Irish economy revolves around the multinational corps then jobs aren't going to disappear overnight
Amazon alone is doubling its size in ireland and it's all work from home

Wanderer78

Mic 1972 wrote: »

Tech companies hire into a variety of jobs that may not be technical at all.
If the Irish economy revolves around the multinational corps then jobs aren't going to disappear overnight
Amazon alone is doubling its size in ireland and it's all work from home

jobs may not disappear over night, but you can be damn sure, if we dont keep the larger employer of the state, sme's, you ll quickly have dole queues growing!

Mic 1972

Wanderer78 wrote: »

jobs may not disappear over night, but you can be damn sure, if we dont keep the larger employer of the state, sme's, you ll quickly have dole queues growing!

I agree with that, but that was always on the table
These multinationals don't go down because of covid or recession, they go down when their product is no longer marketable.

Pelezico

The public sector are delighted with current events. The deeper the recession, the better off they will be.

My father used to tell me 40 years ago to marry a laying hen, a teacher or public sector worker who would keep the money coming in during hard times.

Balluba

Pelezico wrote: »

The public sector are delighted with current events. The deeper the recession, the better off they will be.

My father used to tell me 40 years ago to marry a laying hen, a teacher or public sector worker who would keep the money coming in during hard times.

You probably told your father that you would marry the one woman in the universe who would make you happy. Imagine that.

handlemaster

There is a prediction that property will drop 14% in the UK in 2021.

https://www.financialreporter.co.uk/finance-news/house-prices-to-fall-14-in-2021-cebr.html?HT=FR&TrackingCode=sm-buffer&utm_content=bufferb40ea&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

Pelezico

Balluba wrote: »

You probably told your father that you would marry the one woman in the universe who would make you happy. Imagine that.

I was so naive as a young man. The woman he referred to was a trainee national school teacher an only child of older well to do parents who owned a fair but of property.

Just recently, I was sitting in my car, eating an icecream and scratching my balls when I saw her get into the passenger seat of a four wheel drive 19 plate. She looked very affluent.

I could swear I saw the husband give me the wink of a very satisfied man as I sat there staring at them. I just gave my icecream another lick, continued scratching my balls and pondered human existence.

ExMachina1000

awec wrote: »

Everyone will go back to the old ways. Not even the most pessimistic crank believes this is going to be around forever.

Within a few years the covid aspect of this will all be yesterday’s news.

Of course. The way things were was "normal " human behaviour.
Once the risk of covid is removed things will most definitely return to as they were. The natural order

handlemaster

Pelezico wrote: »

I was so naive as a young man. The woman he referred to was a trainee national school teacher an only child of older well to do parents who owned a fair but of property.

Just recently, I was sitting in my car, eating an icecream and scratching my balls when I saw her get into the passenger seat of a four wheel drive 19 plate. She looked very affluent.

I could swear I saw the husband give me the wink of a very satisfied man as I sat there staring at them. I just gave my icecream another lick, continued scratching my balls and pondered human existence.

Don't worry about it your all living in the same **** town. LOL

beauf

Pelezico wrote: »

The public sector are delighted with current events...

Why not find out for yourself...

https://www.publicjobs.ie/en/

Wanderer78

Mic 1972 wrote: »

I agree with that, but that was always on the table
These multinationals don't go down because of covid or recession, they go down when their product is no longer marketable.

mnc's rarely go bust, they just change, sme's are far more vulnerable, particularly now, many property related businesses, would in fact be a part of the sme sector, the sme sector is far more exposed here now, it desperately needs protectionism, similar to the protective measures in place for mnc's

Pelezico wrote: »

The public sector are delighted with current events. The deeper the recession, the better off they will be.

My father used to tell me 40 years ago to marry a laying hen, a teacher or public sector worker who would keep the money coming in during hard times.

have you asked all of these public sector workers, about this 'opinion' of yours?

if you re getting pleasure from seeing this recession gaining traction, theres actually something psychological wrong with you, and you need help, i severely doubt every single public sector worker is grinning at the moment, in fact, id be arrogant enough to say, virtually none of them are, and im also fairly sure, that most of them are probably sh1tting themselves at the moment.

the relationship between the public and private sectors is in fact a 'symbiotic' one, they both need each other, in order to be, i.e. if the private sector goes down, so to does the public sector!

Bubbaclaus

Wanderer78 wrote: »

if you re getting pleasure from seeing this recession gaining traction, theres actually something psychological wrong with you, and you need help

Sounds like a lot on this thread who seem to be praying for a property market collapse and gleefully telling everyone they are sitting on their cash ready to go.

bobbyy gee

Pelezico wrote: »

The public sector are delighted with current events. The deeper the recession, the better off they will be.

My father used to tell me 40 years ago to marry a laying hen, a teacher or public sector worker who would keep the money coming in during hard times.

did you marry that hen

bobbyy gee

handlemaster wrote: »

There is a prediction that property will drop 14% in the UK in 2021.

https://www.financialreporter.co.uk/finance-news/house-prices-to-fall-14-in-2021-cebr.html?HT=FR&TrackingCode=sm-buffer&utm_content=bufferb40ea&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

it might get worse than that with brexit
and covid
then a world recession