2021 Irish Property Market chat - *mod warnings post 1*

fliball123

fliball123 wrote: »

amazing analogy where to start maybe just 2008 and 2021 are completely different with regards to almost everything. This argument has been done to death and I have not the energy to go through it all again. You cant compare 2008 and 2021 the supply of property available in the run int to both years alone is so different that there is no way they will play out the same

No,we will not play the same
Banks are leaving Ireland and they not gonna give 110 per cent of mortgage anymore
The question is who will buy property with 20 per cent deposit when no buyers on car boot sale left and sellers due with lost income has to sell property .
And sure who will give mortgage when banks already leaving or closing down branches because no reps possible.

Hubertj

https://www.myhome.ie/residential/brochure/the-beach-haus-coast-road-bettystown-co-meath/4490791

This is quite impressive. Setting is pretty cool too.

Hubertj

Hubertj wrote: »

https://www.myhome.ie/residential/brochure/the-beach-haus-coast-road-bettystown-co-meath/4490791

This is quite impressive. Setting is pretty cool too.

The rich people getting hit first
That why recession starting from sales of expensive property
Because rich people getting information or get hit first
Would be great to see statistics of the expensive property for sale in 2018 and 2021

Edit : Looks like some furniture been replaced Or somebody had very bad taste

DataDude

Hubertj wrote: »

Thank you, this is very insightful. My wife started looking at Avant the other day as we are within the LTV.. I don’t keep on top of this sh*t at all.

I probably should have clarified the statement that PTSB is the most attractive...in my particular scenario. LTV between 60% - 80% and high value mortgage. The rates do vary depending on a few factors so don’t take my word for it, might be a different best option for you! Haven’t got the spreadsheet to hand, but think PTSB with the cashback worked out at equivalent to around a 1.90% AER for me...believe Avant is around that number without cashback. So they may be best option for you. Unfortunately we don’t qualify for them!

hometruths

fliball123 wrote: »

amazing analogy where to start maybe just 2008 and 2021 are completely different with regards to almost everything. This argument has been done to death and I have not the energy to go through it all again. You cant compare 2008 and 2021 the supply of property available in the run int to both years alone is so different that there is no way they will play out the same

In fairness if the the scaling up mortages from 70% - 110% thing is true (i've no idea) it does sound pretty similiar to todays efforts to pump more money into the market when demand looks to be waning.

Money are fuel for car ( demand ) how many miles ( supply ) she will go
No fuel no mileage
Simple

Hubertj

Revolution 1917 wrote: »

The rich people getting hit first
That why recession starting from sales of expensive property
Because rich people getting information or get hit first
Would be great to see statistics of the expensive property for sale in 2018 and 2021

Edit : Looks like some furniture been replaced Or somebody had very bad taste

“Rich” people buy and sell houses all the time, I don’t think that tells us anything about the market. Plenty of people, including you, have been saying prices are about to crash since last year. But nothing has happened. First it was June, then august, then October, then January, now it’s June or august. I have no idea and I don’t think anyone else does either.

On the house I didn’t really look at the furniture, I think the gaff looks pretty cool and the setting by the sea is ideal. But I wouldn’t like to live in Meath.

Hubertj

Hubertj wrote: »

“Rich” people buy and sell houses all the time, I don’t think that tells us anything about the market. Plenty of people, including you, have been saying prices are about to crash since last year. But nothing has happened. First it was June, then august, then October, then January, now it’s June or august. I have no idea and I don’t think anyone else does either.

On the house I didn’t really look at the furniture, I think the gaff looks pretty cool and the setting by the sea is ideal. But I wouldn’t like to live in Meath.

I bought property in 2007
In 2008 my property lost 60 per cent of price
In last 13 years I got 30 per cent rise and I still minus 30 per cent
I have many mates who lost money same way
I tell you one thing
Look how media tell lies about the world and you will see how much lies media tell about property market
I will never believe a single word of it anymore ! Never !

Edit : In my country we have saying : No mater were you live the mater is were you are feel happy

Hubertj

DataDude wrote: »

I probably should have clarified the statement that PTSB is the most attractive...in my particular scenario. LTV between 60% - 80% and high value mortgage. The rates do vary depending on a few factors so don’t take my word for it, might be a different best option for you! Haven’t got the spreadsheet to hand, but think PTSB with the cashback worked out at equivalent to around a 1.90% AER for me...believe Avant is around that number without cashback. So they may be best option for you. Unfortunately we don’t qualify for them!

Thanks, I think she was only doing sums on avant, hadn’t considered jumping around at all. She has an excel on it. Might need to expand it!

hometruths

Hubertj wrote: »

I think the gaff looks pretty cool and the setting by the sea is ideal. But I wouldn’t like to live in Meath.

That was pretty much my thoughts on the house word for word. But I have no real idea what I have against Meath. Sure I could tell you why I don’t want to live in Navan, but couldnt really explain why I wouldn’t like to live On that beach, other than it’s in Meath. Pretty odd really!

awec

schmittel wrote: »

That was pretty much my thoughts on the house word for word. But I have no real idea what I have against Meath. Sure I could tell you why I don’t want to live in Navan, but couldnt really explain why I wouldn’t like to live On that beach, other than it’s in Meath. Pretty odd really!

It's cause subconsciously you know Wicklow is better than Meath.

Hubertj

schmittel wrote: »

That was pretty much my thoughts on the house word for word. But I have no real idea what I have against Meath. Sure I could tell you why I don’t want to live in Navan, but couldnt really explain why I wouldn’t like to live On that beach, other than it’s in Meath. Pretty odd really!

I’m the same. Maybe I think all people from Meath are like Navan Man

hometruths

Hubertj wrote: »

I’m the same. Maybe I think all people from Meath are like Navan Man

I actually have quite a few very good friends who live in Meath, and they all think it’s fabulous. Never understood it!

Wanderer78

Revolution 1917 wrote:

The problem is we entered into Covid with deflation. Deposits growing but nod spending.

There will more than likely be a rapid increase in spending post covid by many, some of course won't, due to work uncertainties, but overall, there probably will be, therefore I can't see much of a fall in house prices, if at all, in fact I suspect they'll largely rise, as they have been in my own region

Cyrus

Hubertj wrote: »

https://www.myhome.ie/residential/brochure/the-beach-haus-coast-road-bettystown-co-meath/4490791

This is quite impressive. Setting is pretty cool too.

That setting is amazing

That place sold maybe 2 years ago for around 1.5 but it was unfinished, my guess is the vendor put maybe another 1m into it and is trying to make some money on it.

It’ll be a tricky sell .

Although if some posters assertions that dublins appeal will go with increased wfh maybe someone who would have bought in Dalkey or killiney will buy here and get double the size and direct beach access ?

Hubertj

Cyrus wrote: »

That setting is amazing

That place sold maybe 2 years ago for around 1.5 but it was unfinished, my guess is the vendor put maybe another 1m into it and is trying to make some money on it.

It’ll be a tricky sell .

Although if some posters assertions that dublins appeal will go with increased wfh maybe someone who would have bought in Dalkey or killiney will buy here and get double the size and direct beach access ?

Interesting. It is a whole lot of house for that money compared to killiney, Dalkey etc. Don’t think I’ve ever been to bettystown so can’t comment on it as a place to live. With the m1 it’s probably not that far a commute into Dublin either

PropQueries

For anyone thinking they may want to purchase a home in the Dún Laoghaire-Rathdown area of Co. Dublin between 2022 and 2028, apparently you don't.

According to the Irish Times:

"Planning regulators have told councillors in Dún Laoghaire-Rathdown to scale back residential zoning, saying the targets in their new development plan allow almost 7,000 more housing units than needed."

Link to article in Irish Times here: https://www.irishtimes.com/news/ireland/irish-news/d%C3%BAn-laoghaire-rathdown-told-to-scale-back-housing-plans-1.4546039

Cyrus

PropQueries wrote: »

For anyone thinking they may want to purchase a home in the Dún Laoghaire-Rathdown area of Co. Dublin between 2022 and 2028, apparently you don't.

According to the Irish Times:

"Planning regulators have told councillors in Dún Laoghaire-Rathdown to scale back residential zoning, saying the targets in their new development plan allow almost 7,000 more housing units than needed."

Link to article in Irish Times here: https://www.irishtimes.com/news/ireland/irish-news/d%C3%BAn-laoghaire-rathdown-told-to-scale-back-housing-plans-1.4546039

Apparently you don’t what ? Don’t want to purchase a new house ? Why ?

enricoh

Cyrus wrote: »

That setting is amazing

That place sold maybe 2 years ago for around 1.5 but it was unfinished, my guess is the vendor put maybe another 1m into it and is trying to make some money on it.

It’ll be a tricky sell .

Although if some posters assertions that dublins appeal will go with increased wfh maybe someone who would have bought in Dalkey or killiney will buy here and get double the size and direct beach access ?

It's bettystown at the end of the day though, I don't think they've a hope of getting 3.5 mill.
Here's a fab house a mile away for a fraction of it, no sea view, a great pool and an extra 2 mill in the bank!

https://www.independent.ie/life/home-garden/homes/the-500-year-renovation-bettystown-house-is-for-sale-after-being-upgraded-in-every-century-since-1630-40344177.html

PropQueries

Cyrus wrote: »

Apparently you don’t what ? Don’t want to purchase a new house ? Why ?

Well, the planning regulator is telling Dún Laoghaire-Rathdown to scale back on the amount of land zoned for housing by 7,000 units.

So, the council has the land to build on and apparently want it built upon, but the planning regulator says there won't be enough demand to meet that amount of housing.

We either have a housing shortage or we don't. Dún Laoghaire-Rathdown county council has obviously identified enough land to build an additional 7,000 homes over that period, but the planning regulator says those homes aren't needed.

Am I reading the article wrong?

hometruths

Cyrus wrote: »

That setting is amazing

That place sold maybe 2 years ago for around 1.5 but it was unfinished, my guess is the vendor put maybe another 1m into it and is trying to make some money on it.

It’ll be a tricky sell .

Although if some posters assertions that dublins appeal will go with increased wfh maybe someone who would have bought in Dalkey or killiney will buy here and get double the size and direct beach access ?

I'm one of those posters, but it is based on the premise that WFH allows them to seek better value further out of Dublin. Paying 3.5m in Bettystown was not the sort of scenario I had in mind!

Whilst it might not buy something of that size and beach access, 3.5m still goes pretty far in Dalkey!

Actually very surprised to hear it sold for 1.5m unfinished.

Confirming awecs suspicions of my subconscious snobbery against Meath, I think if I had 3.5m to spend on something like that, I'd try and find a house to knock and rebuild around Brittas - but yes tricky to find something with such fabulous beach access.

Bass Reeves

PropQueries wrote: »

Well, the planning regulator is telling Dún Laoghaire-Rathdown to scale back on the amount of land zoned for housing by 7,000 units.

So, the council has the land to build on and apparently want it built upon, but the planning regulator says there won't be enough demand to meet that amount of housing.

We either have a housing shortage or we don't. Dún Laoghaire-Rathdown county council has obviously identified enough land to build an additional 7,000 homes over that period, but the planning regulator says those homes aren't needed.

Am I reading the article wrong?

No they have planes for over 22k and planning regulator wants them to scale back to 16k

Hubertj

enricoh wrote: »

It's bettystown at the end of the day though, I don't think they've a hope of getting 3.5 mill.
Here's a fab house a mile away for a fraction of it, no sea view, a great pool and an extra 2 mill in the bank!

https://www.independent.ie/life/home-garden/homes/the-500-year-renovation-bettystown-house-is-for-sale-after-being-upgraded-in-every-century-since-1630-40344177.html

I don’t know Meath at all. Is there something wrong with bettystown?

Cyrus

PropQueries wrote: »

Well, the planning regulator is telling Dún Laoghaire-Rathdown to scale back on the amount of land zoned for housing by 7,000 units.

So, the council has the land to build on and apparently want it built upon, but the planning regulator says there won't be enough demand to meet that amount of housing.

We either have a housing shortage or we don't. Dún Laoghaire-Rathdown county council has obviously identified enough land to build an additional 7,000 homes over that period, but the planning regulator says those homes aren't needed.

Am I reading the article wrong?

I just didn’t understand what point you were making the language wasnt clear .

Anyway I suggest if we do have a shortage of homes the most expensive borough in the country is not the place to try solve the issue, I’m sure you would agree.

Cyrus

Hubertj wrote: »

I don’t know Meath at all. Is there something wrong with bettystown?

I don’t think so

There is something wrong with expecting to sell a house for 3.5m there though

Cyrus

schmittel wrote: »

I'm one of those posters, but it is based on the premise that WFH allows them to seek better value further out of Dublin. Paying 3.5m in Bettystown was not the sort of scenario I had in mind!

Whilst it might not buy something of that size and beach access, 3.5m still goes pretty far in Dalkey!

Actually very surprised to hear it sold for 1.5m unfinished.

Confirming awecs suspicions of my subconscious snobbery against Meath, I think if I had 3.5m to spend on something like that, I'd try and find a house to knock and rebuild around Brittas - but yes tricky to find something with such fabulous beach access.

Yep you could have got this on coliemore last year for the same money

I know what I’d be buying

https://www.google.co.uk/amp/s/www.irishtimes.com/life-and-style/homes-and-property/new-to-market/dalkey-villa-with-design-in-every-detail-for-3-5-million-1.4287200%3fmode=amp

Just looked the beach haus up sold for 1.525 when it was for sale originally

https://www.google.co.uk/amp/s/www.irishtimes.com/life-and-style/homes-and-property/new-to-market/hollywood-style-at-meath-beachfront-home-for-1-25m-1.3551018%3fmode=amp

hometruths

Cyrus wrote: »

Yep you could have got this on coliemore last year for the same money

I know what I’d be buying

https://www.google.co.uk/amp/s/www.irishtimes.com/life-and-style/homes-and-property/new-to-market/dalkey-villa-with-design-in-every-detail-for-3-5-million-1.4287200%3fmode=amp

Me too, as fabulous as it is I wouldn't look twice at that house in Bettystown compared to the one on Coliemore Rd for the same money.

Re the WFH thing, I know a few people with the wherewithal to spend 3.5m on a house, and not one of them is constrained by the amount of time of their boss expects them to spend at their desk. I suspect this is true of the majority of buyers at that price point.

More of a factor lower down I would have thought.

awec

PropQueries wrote: »

Well, the planning regulator is telling Dún Laoghaire-Rathdown to scale back on the amount of land zoned for housing by 7,000 units.

So, the council has the land to build on and apparently want it built upon, but the planning regulator says there won't be enough demand to meet that amount of housing.

We either have a housing shortage or we don't. Dún Laoghaire-Rathdown county council has obviously identified enough land to build an additional 7,000 homes over that period, but the planning regulator says those homes aren't needed.

Am I reading the article wrong?

This is an absurdly simplistic take on things.

All areas will have a development plan which details the desired growth of population. This is so that the growth is sustainable.

The rate at which an area can support expansion is not down to just how much appropriately zoned land it has.

Cyrus

schmittel wrote: »

Me too, as fabulous as it is I wouldn't look twice at that house in Bettystown compared to the one on Coliemore Rd for the same money.

Re the WFH thing, I know a few people with the wherewithal to spend 3.5m on a house, and not one of them is constrained by the amount of time of their boss expects them to spend at their desk. I suspect this is true of the majority of buyers at that price point.

More of a factor lower down I would have thought.

Oddly I know a couple of people with that buying power and they have both been at their desk the whole last year with no one else in the office because the owner expected it (even though he spent the last 6 months on holiday as really really rich people can still do that )

But I’d agree your experience is more common.

Balluba

Hubertj wrote: »

https://www.myhome.ie/residential/brochure/the-beach-haus-coast-road-bettystown-co-meath/4490791

This is quite impressive. Setting is pretty cool too.

I love it 🥰