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Cork Property Thread

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    #182
    Mav11
    Registered Users Posts: 2,243 ✭✭✭Mav11


    :D "architecturally designed" :D :eek:


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    #183
    the beer revolu
    Registered Users Posts: 17,005 ✭✭✭✭the beer revolu


    I rather like the aesthetics of that house.
    I'm not sure it would be a house for me or that it's worth the price tag but it is attractive to my eyes.


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    #184
    fonecrusher1
    Registered Users Posts: 5,700 ✭✭✭fonecrusher1


    RINO87 wrote: »
    My eyes!! All that pine paneling, good grief!!

    275...... wow. I think we are going to follow McWilliams advice and bow out for a while. It looks like that house has been recently tidied up and an office added to capatilise on the current frenzy. You'd never see that money again if you bought.

    To make matters worse 275 is just the initial house purchase. Bang on another 20k at least to get the 90's interior sorted and a new kitchen.


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    #185
    Spideoige
    Registered Users Posts: 61 ✭✭Spideoige


    whatever76 wrote: »
    https://www.yaycork.ie/inside-med-jez-a-brand-new-e1-8m-beach-house-that-just-hit-the-market-in-fountainstown/ .. 1.8 mill yikes !!

    I don't think that this house has ever been lived in so probably being flipped for profit by the owners who had some change in their back pocket to develop this site.

    I think that the architect has done a good job though, it's simple and wouldn't stick out like a sore thumb along the Coast Road, there's more thought went into how the house fits into the site than most houses along this road in fairness.


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    #186
    RINO87
    Registered Users Posts: 2,583 ✭✭✭RINO87


    fonecrusher1 wrote: »
    To make matters worse 275 is just the initial house purchase. Bang on another 20k at least to get the 90's interior sorted and a new kitchen.

    It's BER D2 also, so its going to need a fair few quid spent in that area too...

    When people are bidding on these things (it'll probably go over asking in our current enviornment), are they actually thinking about how much money that is, to have such little to show for it, or do they just think "I'm approved for this much, so I'll spend this much"??


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    #187
    namloc1980
    Registered Users Posts: 18,270 ✭✭✭✭namloc1980


    fonecrusher1 wrote: »
    To make matters worse 275 is just the initial house purchase. Bang on another 20k at least to get the 90's interior sorted and a new kitchen.

    The fact there's only 1 bedroom on the top floor is unreal. It's essentially a 1 bed house so honestly you'd need €50k plus to sort out the energy rating, the decor, the kitchen and the divide the bedroom to create 2 bedrooms.


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    #188
    Mav11
    Registered Users Posts: 2,243 ✭✭✭Mav11


    namloc1980 wrote: »
    The fact there's only 1 bedroom on the top floor is unreal. It's essentially a 1 bed house so honestly you'd need €50k plus to sort out the energy rating, the decor, the kitchen and the divide the bedroom to create 2 bedrooms.

    I think that at this point it is simply EA's kite flying and chancing their arm that there is enough panic in the market, so that somebody will pay the price! In all fairness to the EA's they are under obligation to get the best price that they can for their clients.

    Today's Daft report won't help calm the market either.


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    #189
    fonecrusher1
    Registered Users Posts: 5,700 ✭✭✭fonecrusher1


    namloc1980 wrote: »
    The fact there's only 1 bedroom on the top floor is unreal. It's essentially a 1 bed house so honestly you'd need €50k plus to sort out the energy rating, the decor, the kitchen and the divide the bedroom to create 2 bedrooms.

    Surely would this not make it a house with very limited appeal? That's not going to suit even the smallest of families. Including all the concealed additional costs the final price is heading up over 300k. Its mental.

    Then again look at the mess we're in at the minute. It'll sell alright for looney money.


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    #190
    theboringfox
    Registered Users Posts: 544 ✭✭✭theboringfox


    Hoping for an uptick in house supplies on daft in cork city on back of all this news of strong prices. Should hopefully encourage more people to sell who might have been holding off. The prices are just gone mad so hopefully supply increase at least eases things.


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    #191
    shtpEdthePlum
    Closed Accounts Posts: 556 ✭✭✭shtpEdthePlum


    I think the whole thing is that the supply is scarce, people are afraid to sell to upgrade, because they can't move to another place... so I think things will just stagnate for a while.

    The bulk of the market will be people who inherit property and flip it, developers flogging ugly overpriced shoeboxes and landlords getting out of the rental market so they get bang for their buck from the vulture funds who will perpetuate the high prices into the future.

    Don't know when this bubble will burst.

    Look at this absolute joke!!!


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    #192
    Mav11
    Registered Users Posts: 2,243 ✭✭✭Mav11


    shtpEdthePlum wrote: »
    I think the whole thing is that the supply is scarce, people are afraid to sell to upgrade, because they can't move to another place... so I think things will just stagnate for a while.

    The bulk of the market will be people who inherit property and flip it, developers flogging ugly overpriced shoeboxes and landlords getting out of the rental market so they get bang for their buck from the vulture funds who will perpetuate the high prices into the future.

    Don't know when this bubble will burst.

    Look at this absolute joke!!!

    None of this makes economic sense. Unemployment, when you include the pup is supposedly running at 25%. I just wonder are the banks desperate to lend money (an asset in their books) and shift some of the increasing deposits (a liability) that people are accumulating? Or is cash driving the increases? It’s clear that something is pump priming this problem.

    Either way I would be concerned that something is going to burst somewhere and when it happens I’d hate to be the one left holding the baby!!


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    #193
    Lia_lia
    Registered Users Posts: 6,691 ✭✭✭Lia_lia


    Mav11 wrote: »
    None of this makes economic sense. Unemployment, when you include the pup is supposedly running at 25%. I just wonder are the banks desperate to lend money (an asset in their books) and shift some of the increasing deposits (a liability) that people are accumulating? Or is cash driving the increases? It’s clear that something is pump priming this problem.

    Either way I would be concerned that something is going to burst somewhere and when it happens I’d hate to be the one left holding the baby!!

    The way I see it is a lot of those who are on PUP are working in low paid jobs and wouldn’t be buying houses anyway. Not all these people of course. Those of us who still have jobs are generally saving a lot more money as there isn’t much to do like go on holidays, nights out etc. There has been a huge lack of supply for the last few years anyway but now it’s chronic due to building being stopped/slowed down and people not selling because of covid. I’d say a lot of people don’t want the hassle of selling during a pandemic and like mentioned above those that would potentially be trading up are holding off due to lack of supply...


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    #194
    Mav11
    Registered Users Posts: 2,243 ✭✭✭Mav11


    Lia_lia wrote: »
    The way I see it is a lot of those who are on PUP are working in low paid jobs and wouldn’t be buying houses anyway. Not all these people of course. Those of us who still have jobs are generally saving a lot more money as there isn’t much to do like go on holidays, nights out etc. There has been a huge lack of supply for the last few years anyway but now it’s chronic due to building being stopped/slowed down and people not selling because of covid. I’d say a lot of people don’t want the hassle of selling during a pandemic and like mentioned above those that would potentially be trading up are holding off due to lack of supply...

    Wouldn’t argue with any of that. Certainly reduced supply is a big factor.

    But also, purchasers haven’t been able to view property for a while now, unless of course at contract stage. This should have decreased demand. I would then have expected a release of this pent up demand after relaxation of level 5. Is this feeding the rising prices?

    My concern would be, where is the funding for the crazy inflated property prices coming from? Can’t see it all as a result of the increased savings.


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    #195
    shtpEdthePlum
    Closed Accounts Posts: 556 ✭✭✭shtpEdthePlum


    Whereas it took me from 2016 - 2019 to save the first half of my deposit, it only took me six months of 2020 to save the second half, half my annual salary. Shur I've nothing to spend it on (except rent, bills, groceries and junk). I'd imagine a lot of people are in the same boat and panicking thinking the prices are continuing to rise indefinitely so just taking whatever crap is available.

    I'm going to hang on a few years at least I reckon. There's nothing suitable currently. I'd rather risk paying a bit more later for something I actually want than dive in now for a shytehape.


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    #196
    [Deleted User]
    Posts: 17,728 ✭✭✭✭ [Deleted User]


    Mav11 wrote: »
    ............

    My concern would be, where is the funding for the crazy inflated property prices coming from? Can’t see it all as a result of the increased savings.

    FTB couple both on €50k/annum can borrow €350k ........... there's as many of them out there as always and effectively no supply.

    The crazy inflated prices are representative of very small numbers of transactions. There's not loads of properties changing hands.... so there's not loads of funding going on either.

    I know someone who went sale agreed in Lucan, Dublin. Nice enough 3 bed semi for €315k, it's not obscene for what it is tbh.


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    #197
    aisling86
    Registered Users Posts: 587 ✭✭✭aisling86


    Just spotted this. Fabulous house great location https://www.daft.ie/for-sale/semi-detached-house-st-josephs-55-pic-du-jer-park-ballinlough-co-cork/3153876


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    #198
    whatever76
    Registered Users Posts: 1,017 ✭✭✭whatever76


    aisling86 wrote: »
    Just spotted this. Fabulous house great location https://www.daft.ie/for-sale/semi-detached-house-st-josephs-55-pic-du-jer-park-ballinlough-co-cork/3153876

    Yea spotted that on Paper - the owners did a fab renovation on it , be interesting to see how far over asking it will g. Imagine half a million for a semi-d in ballinlough !


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    #199
    theboringfox
    Registered Users Posts: 544 ✭✭✭theboringfox


    Lovely house. Should make 500k in current market. But some price ya!


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    #200
    Mav11
    Registered Users Posts: 2,243 ✭✭✭Mav11


    It sold in 2011 for €100k and again in 2018 for €335k. Quick money @ €500k!!


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    #201
    Lia_lia
    Registered Users Posts: 6,691 ✭✭✭Lia_lia


    shtpEdthePlum wrote: »
    Whereas it took me from 2016 - 2019 to save the first half of my deposit, it only took me six months of 2020 to save the second half, half my annual salary. Shur I've nothing to spend it on (except rent, bills, groceries and junk). I'd imagine a lot of people are in the same boat and panicking thinking the prices are continuing to rise indefinitely so just taking whatever crap is available.

    I'm going to hang on a few years at least I reckon. There's nothing suitable currently. I'd rather risk paying a bit more later for something I actually want than dive in now for a shytehape.

    Yeah we are the same, saving loads. We still have childcare bills, rent and the usual food shopping, utility bills etc. Before covid I was spending a lot more on petrol, going out for food and drinks, holidays... There are people I work with who used to never save and instead spend an absolute fortune on going out and going on holidays and now I hear they have saved a house deposit.

    That house in Ballinlough is fabulous. A lot of houses in that road sold a few years ago for great prices. They almost all need renovating but great if you have the money for it. Fab garden.


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    #202
    romaderwdcsax
    Registered Users Posts: 204 ✭✭romaderwdcsax


    Lia_lia wrote: »
    Yeah we are the same, saving loads. We still have childcare bills, rent and the usual food shopping, utility bills etc. Before covid I was spending a lot more on petrol, going out for food and drinks, holidays... There are people I work with who used to never save and instead spend an absolute fortune on going out and going on holidays and now I hear they have saved a house deposit.

    That house in Ballinlough is fabulous. A lot of houses in that road sold a few years ago for great prices. They almost all need renovating but great if you have the money for it. Fab garden.

    Looks good alright, if you look at the pictures tho, the insulation fixings are showing above the windows. All the window reveals apart from the new extension out the back are showing signs of dampness or mould. Might still be a few quid needed to solve those issues.


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    #203
    theboringfox
    Registered Users Posts: 544 ✭✭✭theboringfox


    romaderwdcsax wrote: »
    Looks good alright, if you look at the pictures tho, the insulation fixings are showing above the windows. All the window reveals apart from the new extension out the back are showing signs of dampness or mould. Might still be a few quid needed to solve those issues.


    Always danger there with a house like that. Still wont go for less than 500 Id say


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    #204
    romaderwdcsax
    Registered Users Posts: 204 ✭✭romaderwdcsax


    theboringfox wrote: »
    Always danger there with a house like that. Still wont go for less than 500 Id say

    In the market myself at the moment due to selling my current house and a few estate agents I was talking to reckon that house in ballinlough could go for €520k


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    #205
    Lia_lia
    Registered Users Posts: 6,691 ✭✭✭Lia_lia


    Mav11 wrote: »
    It sold in 2011 for €100k and again in 2018 for €335k. Quick money @ €500k!!

    I reckon they would have paid quite a lot for the renovation though! Especially with building costs in the last couple of years.


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    #206
    theboringfox
    Registered Users Posts: 544 ✭✭✭theboringfox


    romaderwdcsax wrote: »
    In the market myself at the moment due to selling my current house and a few estate agents I was talking to reckon that house in ballinlough could go for €520k

    Getting into saucy range at 520k but nothing shocks me anymore. Noone tell McWilliams!


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    #207
    suds1984
    Registered Users Posts: 221 ✭✭suds1984


    theboringfox wrote: »
    Getting into saucy range at 520k but nothing shocks me anymore. Noone tell McWilliams!

    Heard they are offers closer to 550k... absolutely madness if true.


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    #208
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    Lia_lia wrote: »
    I reckon they would have paid quite a lot for the renovation though! Especially with building costs in the last couple of years.

    I doubt they would be making much money on 500k given the renovation that's been done and the cost of work as you rightly point out.

    Very few houses ready made for young families to move into in the city without the need to renovate. That will tick lots of boxes for loads of people so I am not surprised it is attracting lots of interest.

    As someone who has come out the end of a full two year renovation with a young family in tow, there is a lot to be said for buying a ready to move in place like that.

    It's also a lovely house and would be great for a family with small kids.


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    #209
    shtpEdthePlum
    Closed Accounts Posts: 556 ✭✭✭shtpEdthePlum


    I just yesterday had someone who is selling right now tell me that they had the price of their modern (MAX) 400k apartment just outside town driven up to 600k (for an APARTMENT) because nosy cunts just wanted to have a look. The damage already done on the price, their offer was withdrawn. They're back at 400 now with potential genuine offers in between now gone.


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    #210
    theboringfox
    Registered Users Posts: 544 ✭✭✭theboringfox


    shtpEdthePlum wrote: »
    I just yesterday had someone who is selling right now tell me that they had the price of their modern (MAX) 400k apartment just outside town driven up to 600k (for an APARTMENT) because nosy cunts just wanted to have a look. The damage already done on the price, their offer was withdrawn. They're back at 400 now with potential genuine offers in between now gone.

    That is really annoying. Hopefully some of other bidders still around. If it went up that much must have been lot more interest outside of the person who pulled out. You would think they would view it soon after sale agreed and therefore if fell through early it would be unlikely other buyers moved on that fast


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    #211
    rob316
    Registered Users Posts: 18,102 ✭✭✭✭rob316


    Is it just me that doesn't like these semi detached new builds? Few friends have bought lately and they are the same houses regardless of location, all on top of each other. Small garden, you and your neighbours door spaced out by about 3 feet.

    Give me a 3 bed bungalow on a nice site instead.


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