Sale agreed prices at the moment

Jmc25 · 07-12-2022 7:03pm #1

I think there's definitely been a reduction in sale agreed prices vs a few months ago. Some examples of my current experience below. Would love to hear if others looking to buy right now are experiencing the same.

House 1 - Exact same condition house in the exact same estate on price register at 460 in September. Has been on the market since the summer at 475. Now reduced to 450. Still no offers.

House 2 - Sale agreed at 490 in September but fell through. Now advertised at 480. Estate agent has indicated a bid of 465 will be accepted, and I suspect lower than that would be entertained.

House 3 - Sale agreed at 470 in May after a frantic bidding war which I was briefly involved in. Sale fell through. Back up in September for 460. Reduced to 450 in November. Now up for 440. Highest bid is me at 420 and agent seemed to suggest that the vendor accepting that if no more bids this week is not out of the question.

fliball123 · 07-12-2022 7:06pm

https://www.boards.ie/discussion/2058274963/sale-agreed-prices-at-the-moment

so no comparison if none have gone sale agreed I think we are going to see price increases in Jan there has been a drop in the amount of properties available for sale on the likes of myhome and daft

handlemaster · 07-12-2022 7:18pm

https://www.boards.ie/discussion/2058274963/sale-agreed-prices-at-the-moment

Location location location. All relevant

IWW2900 · 07-12-2022 7:32pm

https://www.boards.ie/discussion/comment/119968428#Comment_119968428

LOL, clueless

Jmc25 · 07-12-2022 8:53pm

https://www.boards.ie/discussion/comment/119968428#Comment_119968428

Yeah some estate agents have alluded to the vendors waiting until January because of the loosening of the central bank rules. I could see that plus the reduction in advertised properties (if sustained into the new year and not down to sellers waiting until the new lending rules are in effect) leading to further increases.

Then again, if that increase doesn't materialise come January, you've got properties sitting there since September, which will then be competing with a batch of properties which have been "held" until January to avail of presumed higher prices under the new lending rules, interest rates on the rise.... the Covid gains could start reversing.

herbalplants · 07-12-2022 9:30pm

It is definitely on the way down, small reductions but still.

d mc · 08-12-2022 12:28am

Just to go back to 2020 prices... I'd be happy then.

Obviously 2012 would be better, but don't want to sound too greedy :)

fliball123 · 08-12-2022 11:54am

https://www.boards.ie/discussion/comment/119968786#Comment_119968786

True but there is no getting away from the years of pent up demand I think it will get worse before it gets better.

08-12-2022 5:37pm

I have a friend an auctioneer in Galway, he said during the summer a lot of rental properties hit the market and they were afraid that the increase in properties would affect prices but he said that a lot of renters needed to buy so they had more than ever bidding leading to an increase in sale agreed prices. He said he had 4 houses come up for sale on the same street and usually they would try and stagger them but all wanted to sell at the same time, all of the houses sold for more that asking. He said December is usually a quite month but he said the office is as busy as ever he said a lot of buyers were interested in getting sales through before the new rules as they feel prices will jump again when people can borrow more.

fliball123 · 08-12-2022 7:36pm

https://www.boards.ie/discussion/comment/119968515#Comment_119968515

Clueless how? I am simply stating that the amount of properties for sale has dropped and the amount of properties for rent has increased. Its there to see dont know why your labelling me clueless when anyone can simply have a look themselves or maybe you want to put some context into what your POV is

Sale agreed prices at the moment

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