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

Hubertj

schmittel wrote: »

Not so sure about that one. Quite taken with this though.
https://www.myhome.ie/residential/brochure/the-anchorage-guileen-whitegate-midleton-cork-p25x762/4498353

That is nice, How lucky did they get taking the photos on a crack in day!

Cyrus

mcsean2163 wrote: »

Hi Cyrus, thanks for all your suggestions.

The Sandycove one looks best but also looks like they sold their back garden to a developer. We looked at rathmichael but it's right beside the M50 from a noise/ air pollution pov.

Our requirements.

- 4 bed preferably 5
- decent back garden with room for a dog
- Dun Laoighre area preferred
- ideally period house
- green area to play close by
- not on a main road

I've been looking at recently added for ages. I don't think we'll tick all the boxes but it does seem we'll need an extra few hundred grand.

Might be best to save a bit longer. Hard to envisage moving from somewhere that we're mostly happy to somewhere that looks worse but everything in Dun Laoighre seems to have that extra price premium.

To be honest as it goes DL tends to be better value than most of the surrounding areas ! But hopefully something comes up .

No matter what your budget is you always think another few hundred grand would see you right

hometruths

Hubertj wrote: »

That is nice, How lucky did they get taking the photos on a crack in day!

I'd love to buy that and bide my time to buy the other half next door. You could make something very special out of the two combined.

L1011

Galwayhurl wrote: »

Just saw this on Crazy Prices twitter. Mullen Park phases 2, 3 and 4 ALL sold to a REIT, Round Hill Capital.

That's dozens if not hundreds of houses off the market for FTBs now. When is this going to stop? Is it legally possible to stop REITS from buying up the whole country? It was done in Germany, was it not?

https://twitter.com/crazyhouseprice/status/1387790404163096576?s=20

~50% of the houses for sale in those phases (after the ~10% Part V) were to be sold to Cluid so were never going on the open market anyway; but that fell through.

Entire setup there is a mess, there are houses that closed in September 2020 but don't have water connected yet!

awec

schmittel wrote: »

Not so sure about that one. Quite taken with this though.
https://www.myhome.ie/residential/brochure/the-anchorage-guileen-whitegate-midleton-cork-p25x762/4498353

Really? Glorified apartment.

Look at the state of that kitchen.

Zenify

awec wrote: »

Really? Glorified apartment.

Look at the state of that kitchen.

The editing of pictures recently is crazy. Those rooms have been made far brighter with editing.

PropQueries

Interesting opinion piece in the Irish Times about the upcoming Dublin Bay South byelection in the autumn titled "The Irish Times view on the looming byelection: the housing effect"

They say "A big question is whether Sinn Féin will succeed again in making housing the dominant issue."

While SF probably won't win, it's going to offer a giant megaphone to anyone and everyone who wants to bring up all aspects of the housing issue.

The Housing Minister said on Sunday on On The Record that he's bringing in a lot of housing related legislation around August. Will be interesting if he will need to make any changes to what he's planning as the opposition will be getting a lot of additional airtime around the same time whether their polling well or not IMO

Link to article in Irish Times here: https://www.irishtimes.com/opinion/editorial/the-irish-times-view-on-the-looming-byelection-the-housing-effect-1.4551508

yagan

PropQueries wrote: »

Interesting opinion piece in the Irish Times about the upcoming Dublin Bay South byelection in the autumn titled "The Irish Times view on the looming byelection: the housing effect"

They say "A big question is whether Sinn Féin will succeed again in making housing the dominant issue."

While SF probably won't win, it's going to offer a giant megaphone to anyone and everyone who wants to bring up all aspects of the housing issue.

The Housing Minister said on Sunday on On The Record that he's bringing in a lot of housing related legislation around August. Will be interesting if he will need to make any changes to what he's planning as the opposition will be getting a lot of additional airtime around the same time whether their polling well or not IMO

Link to article in Irish Times here: https://www.irishtimes.com/opinion/editorial/the-irish-times-view-on-the-looming-byelection-the-housing-effect-1.4551508

Ironically bringing forward more housing related legislation now will only legitimise the voter dumping FG to third place and Fianna Fail to its second worse election result.

It's a damning indictment of the traditional parties of power have to prop eachother up formally just to stay in power.

PropQueries

yagan wrote: »

Ironically bringing forward more housing related legislation now will only legitimise the voter dumping FG to third place and Fianna Fail to its second worse election result.

It's a damning indictment of the traditional parties of power have to prop eachother up formally just to stay in power.

While many believe that SF don't have a chance, the interests of the younger generation seeking homes are more aligned with the well to do class in this area than many people think IMO

Just look at Biden's proposed tax changes in the states and it's impact on inheritances etc. There was a good article on it in the WSJ yesterday titled: "Biden’s Capital-Gains Tax Plan Would Upend Estate Planning by the Wealthy".

Given that many of these long-term leases expire in 25 years and the housing minister does appear intent on ramping it up, anyone in that area around the 60 to 70 age group should be wondering what this very expensive kicking down the road plan in relation to housing policy will mean in 20 years time and will the Government at that time be looking at raising/introducing similar type taxes to meet the costs of this housing "plan" IMO

Throw in all the build-to-rent type apartments etc. being built in their area and their interests are very aligned IMO

Link to WSJ article here: https://www.wsj.com/articles/bidens-capital-gains-tax-plan-would-upend-estate-planning-by-the-wealthy-11619716044

jill_valentine

Zenify wrote: »

The editing of pictures recently is crazy. Those rooms have been made far brighter with editing.

I'm a big fan of the "non Euclidean greenery" I've seen lately, where there's a hedge or garden visible from the window that's not in external pictures of the house.

Very sorry I didn't relay some examples here when I had them, but will keep an eye out for the next one.

zom

Zenify wrote: »

The editing of pictures recently is crazy. Those rooms have been made far brighter with editing.

With modern photography software you dont even need to edit single picture - you load all bunch and computer brighten them for you automaticaly most natural way: https://photographyconcentrate.com/wp-content/uploads/2017/12/Editing-Skills-BeforeAfter-2.jpg

cnocbui

Villa05 wrote: »

Funny how they can sell in half an hour in Limerick

Unless that's some dig about the €70 K apartment, it went over my head.

They potential buyer of my Galway property applied for a mortgage in January and is still waiting for it to be granted. Nigh on four months for a bank to do it's thing and it still hasn't managed to.

awec

Zenify wrote: »

The editing of pictures recently is crazy. Those rooms have been made far brighter with editing.

It's not editing, the photographer is just using a wide angle lens which will give the perception of a room being large and spacious.

This has been standard in property photos for as long as I can remember.

Bass Reeves

schmittel wrote: »

Not so sure about that one. Quite taken with this though.
https://www.myhome.ie/residential/brochure/the-anchorage-guileen-whitegate-midleton-cork-p25x762/4498353

I think that house was on that TV program earlier this year where three people go looking for a house for a friend of there's

Villa05

PropQueries wrote:

Interesting opinion piece in the Irish Times about the upcoming Dublin Bay South byelection in the autumn titled "The Irish Times view on the looming byelection: the housing effect"

For those familiar with the area, would it be an area of gentrification on speed in that the children of well off middle class parents are priced out of the area as it has moved on significantly in terms of affordability from when their parents purchased
I would imagine that parents would not be to pleased with social housing going in the area when there children are priced out

Villa05

cnocbui wrote:

Unless that's some dig about the

cnocbui wrote:

Unless that's some dig about the

Not a dig just a ref to story yesterday that a house went sale agreed minutes after being listed after receiving an offer significantly above asking price

timmyntc

Villa05 wrote: »

Not a dig just a ref to story yesterday that a house went sale agreed minutes after being listed after receiving an offer significantly above asking price

Is the practice of going sale agreed in order to secure an in-person viewing still happening?

Hubertj

Villa05 wrote: »

For those familiar with the area, would it be an area of gentrification on speed in that the children of well off middle class parents are priced out of the area as it has moved on significantly in terms of affordability from when their parents purchased
I would imagine that parents would not be to pleased with social housing going in the area when there children are priced out

It covers a number of areas so a broad mix of “working class” and “middle class” areas - ringsend, parts of d2, d4, d6 etc. I think the challenge for the LEA in general is that it has not been well served by elected representatives. Apartments are over priced / not affordable to many, same issues as rest of country.
Chris Andrew’s is the SF TD and I find him the most useless of all. Doesn’t seem to be any level of proper engagement with constituents.
Eamon Ryan, Eoghan Murphy (at least he responded to email communication over the years)....
I’ll see what sort of independents stand and make my decision based on that.

Zenify

awec wrote: »

It's not editing, the photographer is just using a wide angle lens which will give the perception of a room being large and spacious.

This has been standard in property photos for as long as I can remember.

Sorry that wasn't what I meant. Small room with tiny window yet the picture of the room is shining bright. Reality would have many shadows and dark corners.

It's not just that cottage it's lots of houses up recently. As other posters have commented it is all software that does it now, I am aware of that. I do a good but of photo editing myself and can tell just how edited they are.

JimmyVik

Zenify wrote: »

Sorry that wasn't what I meant. Small room with tiny window yet the picture of the room is shining bright. Reality would have many shadows and dark corners.

It's not just that cottage it's lots of houses up recently. As other posters have commented it is all software that does it now, I am aware of that. I do a good but of photo editing myself and can tell just how edited they are.

And the amount of HDR photos going on is laughable too

Reins

timmyntc wrote: »

Is the practice of going sale agreed in order to secure an in-person viewing still happening?

Yes but that will change on the 10th May when phyiscal viewings are resuming.

Reins

https://www.independent.ie/business/world/biden-tax-plan-to-clip-wings-of-us-funds-buying-in-ireland-40371959.html

Biden tax plan to clip wings of US funds buying in Ireland

Some clipping needed for sure

cnocbui

awec wrote: »

It's not editing, the photographer is just using a wide angle lens which will give the perception of a room being large and spacious.

This has been standard in property photos for as long as I can remember.

It is editing - there has been a massive move to using totally unrepresentative images to sell property, particularly in Australia and the US. Yes, they use ultra wide angle lenses to get in whole rooms, but also to exaggerate a sense of size and space due to perspective distortion, but the biggest shift has been to using HDR photos to eliminate shadows almost completely. So huge is the dynamic range shown in many images, it probably is indicative of far more than HDR, with actual photoshopping of bits from several different images and heavy use of the exposure curve tool.

When you see interior shots showing a brightly lit interior - AND - you can clearly see the garden, seascape or landscape through the windows - those shots have been heavily modified or edited. They use software to totally manipulate skies to look salmon pink/orange gradations or to emphasise puffy white clouds. You often notice completely unnatural light green vegetation as a result



In a normal photo, to see clouds like that, the verandah in shadow would be black, with no details visible at all. Same for the grass in the shadow cast by the tree. That is a quick grab lazy example, there are far more egregious examples out there I haven't bothered to hunt down.

Amadan Dubh

Reins wrote: »

https://www.independent.ie/business/world/biden-tax-plan-to-clip-wings-of-us-funds-buying-in-ireland-40371959.html

Biden tax plan to clip wings of US funds buying in Ireland

Some clipping needed for sure

While REITs are Irish domiciled, their shareholders almost unanimously are not and also consist of PE-backed vehicles so it won't just be direct PE portfolios but also REIT portfolios which will be watching these proposals. While it's extremely difficult to argue against Biden's proposals without coming across as a greedy Wall Street elitist, there is no guarantee they'll go through.

However, the proposals go to the heart of the inequality that has festered in the West the past few decades which means they will get the support of the many and the protest of the faceless few. There is a metaphor that a rising tide lifts all boats sometimes applied to the economy but that doesn't factor in those that don't have boats and are just treading water.

yagan

A lot of institutional players in the Irish market are also EU based like pension funds.

Hubertj

yagan wrote: »

A lot of institutional players in the Irish market are also EU based like pension funds.

I was wondering about that. I presume it’s not just Americans that see the “value” in the Irish market.

cnocbui

cnocbui wrote: »

It is editing - there has been a massive move to using totally unrepresentative images

Everything you're describing is just HDR. But human eyes can see out the window of dark rooms and still register the outside world (ie: when we're indoors, we don't see outside as a white spotlight, and when we look out a window, the interior we're standing in doesn't turn to blackness, like it would with a camera).


I don't see any issue with using that on photos of property at all.






One thing I DO have an issue with is something I've copped onto, and seen someone get stung with recently, is taking advantage of the hot property market and no viewings allowed. A chap I know bought an apartment and when he got in the door the ceilings were mouldy as fcuk. No sign of them in the pictures. Conveniently excluded.

cnocbui

Deleted User wrote: »

Everything you're describing is just HDR. But human eyes can see out the window of dark rooms and still register the outside world (ie: when we're indoors, we don't see outside as a white spotlight, and when we look out a window, the interior we're standing in doesn't turn to blackness, like it would with a camera).

I don't see any issue with using that on photos of property at all.
...

Some of them are going beyond just HDR, IMO. I'm pretty sure some are using Luminar to add clouds and appealing sky shadings.

cnocbui

cnocbui wrote: »

Some of them are going beyond just HDR, IMO. I'm pretty sure some are using Luminar to add clouds and appealing sky shadings.

Yeah I've seen that. I've seen barren gardens turned into green carpets, too. I don't necessarily disagree with changing the skies, but I dont think they should be allowed change the aesthetics of the property or gardens. A bit of HDR is fine, but photoshopping a green lawn in, and taking out damp (or being clever with your poses to avoid damp issues, or obvious defects, is unfair, in my opinion.

Should point out that i have seen the odd USA house ad posted on Reddit here and there, and it seems over there (whether it's an actual rule or not, I don't know) that they tend to have the thumbnail and main pic of the house as a photoshop-fest of what it 'could' look like, but generally, the "real" photo of the house is included, too. I presume they are allowed to exaggerate all they want, so long as they have an actual, untouched photo of the property on display too.