Softening house market?

It could be in Ringsend or around Beaver Row etc. Not all of D4 is posh!

Anywhere from 30k to 120k above asking. Here's one -

Last I enquired, it was at 410k

Properties in areas around me are still going above asking, I would guesstimate about 5-10%. Less people at viewings for sure. Houses only seem to be on the market a couple weeks before being snapped up.

Yes, I feel like looking again in 6 months tbh...I'll either have missed the boat altogether or something something something...

Yes it was originally pitched low but has far exceeded expectations.

Yup - Certainly a house I would pay 40% more than what they are asking 👀

It's a pretty old gas boiler so I'd be replacing it and the radiators would need to go too, add to that basic flooring and decoration and if you were capable of doing some work on the bathroom and kitchen yourself you could potentially save a few quid.

It'd be a stretch to say it's in turnkey condition, the heating system is something that's better to have done while the house is vacant so if you only tackled one thing that'd be the place to start.

You could live with the old kitchen and bathroom but at 410k I'd feel like a lot of the renovation money was being mopped up in the bidding war.

Ultimately there comes a point where you have to draw a line and accept that there are people who either don't have to worry about money and can bid as much as they want or they are willing to go crazy on the purchase price and just do the required work by degrees.

That price for that house in that area to me is insane though.

Ya and you ment it as well.

Those types of bungalow's are sought after by older people downsizing or when there mobility reduces. You could have a couple of older couples bidding on it who are selling or have sold a property that is twice or more times the value. You get older couples who have large family homes who may have offered there house to one of there there children who has a family subject to getting something like this that is suitable.

That particular house is in a cul de sac which increases it value as well.

An older couple moving into it will not be as fussy about refurbishment. I do external insulation before I would worry about the gas boiler or radiators. Bathroom as well. After that painting and flooring can change a house

For a very tired looking, dated house, its utter maddness, its quite riduclous.

MyHome.ie August '22 update.

I suppose if you are paying crazy rent or finding it hard to get a rental unit. Buying is still the best option you have.

I just got mortgage approval this week, not sure what to be doing to be honest 😣

A couple of houses I viewed in North Co Dublin were already above the inflated initial asking price.

Prices are probably going to fall as mortgage rates rise.

A 300k mortgage was costing under €1200 a month at 2.5%

Same mortgage will be €1600 a month if rates go to 5% (this would mean ECB of 2.5/2.75% and possibly reached next year)

If you are currently buying or are variable rate (utterly crazy if you are) or a current fixed rate is within a year or so of ending - fix for as long as possible under 3%. If you can get a 10 year fixed for 3% or less, take it immediately. The day of zero are gone and very unlikely to return.

It is near certain that there is ZERO break penalty on any fixed rates entered into before last January due to how the calculations are done. So break and refix for 5, 7, 10 or more years.

ECB will be increasing rates next Thursday. Possibly by 0.75%. This week is the last opportunity for the low fixed rates.

With 2nd hand house prices positively correlated but not perfectly correlated to new house prices, what are folks opinions on the effect of the outrageous cost to build at the moment on 2nd hand prices.

Every new launch near me seems to be dearer than the last but they sell out immediately, pushing buyers towards 2nd hand hand houses

All the talk here is of interest rates which, if people are rational consumers will make a difference, but there's very little rational about the irish housing market at the moment. People will want to buy and will continue to buy, demand is still huge.

I can't see cost of new houses decreasing and I can't see 2nd hand decreasing either. The latest initiative by the greens to ban oil and gas boilers in favour of heat pumps etc will only push cost of building up further.

I do think we've reached the peak of affordability but I can't see huge drops. If I was looking I'd buy now to get out of rental market anyway which is a huge steaming mess.

My situation is I own a property that is suitable, I do want to move towns about 10kms to a slightly bigger house with a garden but the hassle of buying and selling at same time is very off-putting. I defo don't want to be an amateur small landlord and keep my house.