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Irish Property Market chat II - *read mod note post #1 before posting*

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    #11462
    enricoh
    Registered Users Posts: 4,890 ✭✭✭enricoh


    https://www.boards.ie/discussion/comment/119320836#Comment_119320836

    No I don't want additional pay rises. The government n unions were negotiating recently but didn't conclude a deal. Whatever they were spending on that deal should be spent on a Dublin weighting instead imo.

    Maybe the government n unions are happy enough with the status quo.



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    #11463
    Villa05
    Registered Users Posts: 4,603 ✭✭✭Villa05


    https://www.boards.ie/discussion/comment/119321019#Comment_119321019

    What if small builders purchased them and turned them around quickly? Silver bullet?



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    #11464
    Ozark707
    Registered Users Posts: 949 ✭✭✭Ozark707


    https://www.boards.ie/discussion/comment/119322105#Comment_119322105

    If we have no where for these low skilled labour to live in do you think we should be bringing them in?



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    #11465
    Villa05
    Registered Users Posts: 4,603 ✭✭✭Villa05


    https://www.boards.ie/discussion/comment/119320750#Comment_119320750

    Inflationary, adds to the problem for most



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    #11466
    Musa Unkempt Tech
    Posts: 0 ✭✭✭ Musa Unkempt Tech


    I think we should be making prefab houses, most of it can be made in a factory and much quicker than traditional houses. They are making them now for the Ukrainian refugees, but I dont see why other people shouldnt be allowed to avail of them. It would solve alot of the issues Ireland currently has, dont need to bring in 40k trades people from developing countries, and they are much cheaper to build. They might not last as long as a traditonal house, but they would last a few decades, nobody needs a house to last 100s of years because nobody lives that long.



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    #11467
    fliball123
    Registered Users Posts: 7,450 ✭✭✭fliball123


    https://www.boards.ie/discussion/comment/119322630#Comment_119322630

    There should be zero payrises going on in the public sector until we are out of covid, the cost of living crisis, inflation and when we are through the soon to come recession. No point paying you lot the rate of inflation if a lot of it has been driven up by a war, covid and supply chain issues when inflation drops and the war is over and prices drop the general public will be left paying bloated PS salaries again not to mention the knock on effect for pensions (which at its current levels are already a ticking timebomb waiting to go off for the tax payer) and all the while Leo and Mehole are toying with the idea of upping PRSI or increasing the age for people in the private sector to work till 68. There are going to be a tonne of job losses in the private sector in the next 2/3 years and you boyos want pay rises this money has to be borrowed currently and the interest rates are only going one way and if you want to live in Dublin that is your choice no one should be asked to pay you more to do so. Its a phucking joke one of your brethren on another thread stating Ulster bank are getting an 8% payrise so the public sector should be getting this on top of inflation too and then not adding in the fact that there will be zero jobs in Ulster bank in Ireland after they have pulled out of the country so whats 8% of zero? Please keep the PS crap separate to this discussion there is a separate thread for it and it will turn it into a sh1tshow. There are actually some good commentary with regards to property.



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    #11468
    Bass Reeves
    Registered Users Posts: 18,500 ✭✭✭✭Bass Reeves


    https://www.boards.ie/discussion/comment/119320679#Comment_119320679

    Not really. You will have to renovate to an A or B energy rating. You will probably not be able to Apple for the energy grants. Even if you are renovating is as of not more expensive than new builds. The advantage may be people with the skillset to do a lot of the labour themselves. Some of these will be former commercial buildings


    This is as much a way of encouraging urban development in towns and villages as anything else. These building have been sitting there for decades in many cases.

    Slava Ukrainii



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    #11469
    L1011
    Registered Users Posts: 68,662 ✭✭✭✭L1011


    Drop the public sector pay talk - not the forum for it


    Separately (referring to different posts by different people) - you are all here long enough to have read the warnings in Post 1.



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    #11470
    calculatingspace
    Registered Users Posts: 5 ✭calculatingspace


    We finally went sale agreed on a house we really like, after 6 months of searching.

    It's been two weeks and we're having doubts about the area. It's around Dorset St lwr, Belvedere Rd. We initially thought it would be alright with the proximity to Phibs and Drumcondra, but driving/walking around the area we're not sure anymore.

    Anyone live around there and have any insights on how rough it actually is?



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    #11471
    Musa Unkempt Tech
    Posts: 0 ✭✭✭ Musa Unkempt Tech


    https://www.boards.ie/discussion/comment/119324711#Comment_119324711

    Its good for the proximity, mostly alright place with some pockets like dorset lane and sherrard st would avoid, not much in terms of parks except mountjoy park which can be abit dodgy at times, there is a samll tesco there on dorset st but any the big shops you have to drive



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    #11472
    manniot2
    Registered Users Posts: 706 ✭✭✭manniot2


    https://www.boards.ie/discussion/comment/119324711#Comment_119324711

    Sorry I know you are sale agreed but I guess you have asked the question...

    I would be very hesitant to buy in that area. Before Covid there were some signs it was improving but in the last few years it has gone majorly downhill. The litter alone is terrible. Drumcondra is the same, it is overrun with rubbish and dirt and there is a lot of trouble in the area.

    Dublin in general in my opinion is gone to the dogs. I bought here a number of years pre Covid when there was no WFH and most of the employment was centred here. It was a thriving city for a number of years. Im stuck here now as kids are settled but I would strongly encourage anyone with the choice, to get out!.



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    #11473
    calculatingspace
    Registered Users Posts: 5 ✭calculatingspace


    https://www.boards.ie/discussion/comment/119324914#Comment_119324914

    Thanks for your comment. Sale agreed, but no contracts signed yet, so we can always drop out.

    Yeh the littler is horrible, I agree. Sorry to hear you're not enjoying Dublin anymore. Do you live around this area? Maybe a move to a more suburban location would suite you? I still like Dublin, it works for me, my work and my hobbies. So can't really imagine living anywhere else.



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    #11474
    calculatingspace
    Registered Users Posts: 5 ✭calculatingspace


    https://www.boards.ie/discussion/comment/119324722#Comment_119324722

    Thanks for your comment. Yeh, Sherrard st is definitely not a nice street. I'm just gonna try and stay away from that area and mainly walk towards Phibs, Drumcondra and Glasnevin.

    Don't mind driving to the shops, no big supermarkets where we live at the moment either.



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    #11475
    manniot2
    Registered Users Posts: 706 ✭✭✭manniot2


    https://www.boards.ie/discussion/comment/119325096#Comment_119325096

    I live quite close by in Drumcondra which I guess is borderline suburbia. Its overrun with rubbish and scumbags yet the houses sell for massive money, I have no idea why.

    I think prices are going to fall in this area over time as more and more people head for the country. Unless you are from here, there is no incentive to live around here anymore. Something ironic in the fact that the tech hubs that made Dublin so vibrant will most likely be its downfall as they facilitate WFH and country living.



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    #11476
    AlmightyCushion
    Moderators, Education Moderators, Technology & Internet Moderators Posts: 35,076 Mod ✭✭✭✭AlmightyCushion


    https://www.boards.ie/discussion/comment/119324711#Comment_119324711

    I live off Dorset street. I'm not sure if I would buy there but I have lived here for about 5 years now and I can't remember ever having any hassle myself. As mentioned above Mountjoy park is dodgy enough looking but there is the narrow park by the canals near Drumcondra station. Blessington basin is nice as well and there is a nice park just off that that takes you up towards phibsboro. For grocery shopping, I would just head to Parnell street, there is a Lidl, Aldi and a Tesco there and they are decent sizes.



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    #11477
    DataDude
    Registered Users Posts: 1,184 ✭✭✭DataDude


    After it looked like monthly price inflation was about to go negative after a sharp slowdown in April (to 0.1%). They’ve now revised that up to 0.4% and also posted 0.8% for May. Back to very strong growth numbers - surprising!

    https://www.cso.ie/en/releasesandpublications/ep/p-rppi/residentialpropertypriceindexmay2022/



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    #11478
    markodaly
    Registered Users Posts: 14,412 ✭✭✭✭markodaly


    https://www.boards.ie/discussion/comment/119326373#Comment_119326373

    Looks to be a serious lag in that data.

    The recent upturn in prices started, according to the data in November 2020, but we all know that it was the lockdown, cheaper interest rates, and low supply that ushered in the latest boom, which happened approx May 2020.

    The rate of increase has flat-lined and is now trending down.



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    #11479
    AdamD
    Registered Users Posts: 12,579 ✭✭✭✭AdamD


    https://www.boards.ie/discussion/comment/119326608#Comment_119326608

    Keep in mind it takes 3-6 months to close a sale..the data can be accurate but also months behind current activity



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    #11480
    markodaly
    Registered Users Posts: 14,412 ✭✭✭✭markodaly


    https://www.boards.ie/discussion/comment/119326652#Comment_119326652

    Yes, Correct.

    Details for last month, as in May 2022 may have been for properties gone Sale Agreed as far back as November 2021.



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    #11481
    DataDude
    Registered Users Posts: 1,184 ✭✭✭DataDude


    https://www.boards.ie/discussion/comment/119326608#Comment_119326608

    Agreed it’s hugely lagging. But it looked like it was about to start capturing the slowdown which started earlier this year. I’ve no doubt it’ll flatten/go negative in the months ahead. But just the sudden flip back up for April/May, reversing trend from last couple of months isn’t what most would have expected.



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    #11482
    Blub123
    Registered Users Posts: 144 ✭✭Blub123


    own house went sale agreed after interest from 3 bidders

    top bidder came back yesterday with a revised bid nearly 100k under what was agreed citing cosmetic work that they would need to do even tho the house is finished to a very high standard.

    2nd and 3rd bidder have gone sale agreed elsewhere.

    there's a special place in hell for absolute time wasters like this.

    estate agent in question has black balled him with respect of bids for properties he has in the area but does me little good.

    back to the drawing board & 2 months of the summer season wasted



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    #11483
    Icantthinkof1
    Registered Users Posts: 410 ✭✭Icantthinkof1


    @Blub123 sorry to hear that. How did they only come out now with the €100k figure?! Like surely when viewing it then they would have had a fair idea of what they needed to do?! Was it something that came out in the engineers report?



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    #11484
    amacca
    Registered Users Posts: 6,872 ✭✭✭amacca


    https://www.boards.ie/discussion/comment/119326756#Comment_119326756

    That's awful behaviour....It happens on both sides of transactions from time to time. My sympathy for all that's worth.


    I hope the person that did that has a similar experience down the line.



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    #11485
    Blub123
    Registered Users Posts: 144 ✭✭Blub123


    https://www.boards.ie/discussion/comment/119326820#Comment_119326820

    no engineers report.

    Simply asked could they view it again. Only difference here was that a father of one of the couple was with them. Estate agent confirmed that all was rosey when they were leaving with no issues whatsoever and then an email in with the amended offer.

    House is finished to a really high standard.

    Estate agent called it what it was - bul$hit



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    #11486
    awec
    Administrators Posts: 53,754 Admin ✭✭✭✭✭awec


    https://www.boards.ie/discussion/comment/119327064#Comment_119327064

    Sounds like chancers to be honest. The father, who probably hasn't bought a house in 30 odd years but considers himself an expert in the process, is trying to low ball you.

    These people think it's a game, I'd tell them to take a hike and just relist the house.



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    #11487
    markodaly
    Registered Users Posts: 14,412 ✭✭✭✭markodaly


    https://www.boards.ie/discussion/comment/119326756#Comment_119326756

    Sounds like the bank may have not valued the house for the bid he put in.

    In fairness, there was a lot of crazy bidding going on for the past 18 months or so. That may be over now, so people may be coming to their senses a bit.



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    #11488
    awec
    Administrators Posts: 53,754 Admin ✭✭✭✭✭awec


    https://www.boards.ie/discussion/comment/119327132#Comment_119327132

    There is no chance this was the case.



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    #11489
    Blub123
    Registered Users Posts: 144 ✭✭Blub123


    https://www.boards.ie/discussion/comment/119327142#Comment_119327142

    given the location & spec of the property agreed.



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    #11490
    awec
    Administrators Posts: 53,754 Admin ✭✭✭✭✭awec


    https://www.boards.ie/discussion/comment/119327196#Comment_119327196

    Bank valuations don't really work like that either, the bank just check the price agreed is roughly in the right ball park. If they were seriously concerned, they'd have come to take a proper look at your house.

    But, even if the bank did value it lower, the buyer would have told you this as it's a far stronger reason for revising an offer than "needs cosmetic work".

    They are just trying to low ball you.



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    #11491
    mcsean2163
    Registered Users Posts: 1,839 ✭✭✭mcsean2163


    https://www.boards.ie/discussion/comment/119327196#Comment_119327196

    Depending on the gross price, might be worth going back and offering €10k off or something like that. Supply has ramped up considerably, maybe offer the price the second highest bidder put in, they might be happy to get a small victory etc.

    Supply on myhome has increased from 10711 on Jan 22 to 14476 today...



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