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

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!.

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.

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.

Yes, Correct.

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

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

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.

What was the ball park figure you went sale agreed on? Reason I ask is that it gives context.

€100k on €500k is a 20% reduction which I would view as taking the mickey.

€100k on a €1.2m is only an 8.3% drop which may be worth a hit in order to save a sale.

€100k on €500k is a 20% reduction which I would view as taking the mickey. .....spot on......WERE YOU IN MY HOUSE RECENTLY???? ..ah if I cant laugh at the situation I'll go mad🙄

Most of that extra supply is small LL's exiting the rental market. When there go either are gone. Totally different properties m, most rentals will need refurbishment, some a major refurb. If you show weakness to a shower of sh!ts like this you might as well throw your had at it.

Bet they come back with there tails between there legs

I’m curious if there’s any data in relation to the upswing in houses on the market, I know people are saying it’s rentals coming on but there’s been a high number of rentals coming to market for some time and they’ve been hoovered up. I’m guessing this isn’t the whole story. Anyone know the levels of buying still from local authorities and if funds are backing off like they are in the US? Funds I’d guess borrow money to purchase and if it’s a US fund borrowing at US interest rates that would have stopped them in their tracks or do they just borrow elsewhere. I suspect bonds are becoming a more attractive proposition to them than housing at the moment.

There is so much going on at the moment, euro is weakening, cheaper to buy with USD if they’re still buying from US currency.

i hear you, although rents are capped at 2% so it might impact investor sentiment towards housing if inflation continues the way its going.

I’m Conscious that Investors have been hit badly with the stock markets too, are they not likely to flow to a safer haven than housing which at some stage is likely to be the next domino to fall.

i guess at this stage until the current sales data flows through to the ppr the only ones that know the shifting market conditions are estate agents and builders.