Irish house prices at moment?
Discussion
Hi all,
It looks like I've sold my flat here in London and will be moving home to Greystones in Co. Wicklow in the next month or two. I plan to buy a small place there, less than 400k euro and just wanted to check if houses are going for the asking prices in general or are people accepting offers. I know there was a big slow down before the budget at the end of the year but does anyone have any experience of buying or selling a house in the last few months? I'm just trying to get a feel for the Irish market.
Cheers
Simon
It looks like I've sold my flat here in London and will be moving home to Greystones in Co. Wicklow in the next month or two. I plan to buy a small place there, less than 400k euro and just wanted to check if houses are going for the asking prices in general or are people accepting offers. I know there was a big slow down before the budget at the end of the year but does anyone have any experience of buying or selling a house in the last few months? I'm just trying to get a feel for the Irish market.
Cheers
Simon
Simon,
I can't help on what 'street' prices, but I do browse this from time to time - dunno if it would be of any use.
www.myhome.ie/
K
I can't help on what 'street' prices, but I do browse this from time to time - dunno if it would be of any use.
www.myhome.ie/
K
Thanks, yeh I'm on that site every day and others such as www.daft.ie
I've actually found a house on the net thats up for 410k that would do the job, its just that 410k is a little rich for me at the mo.......
I've actually found a house on the net thats up for 410k that would do the job, its just that 410k is a little rich for me at the mo.......
Simon , while not selling at the mo , I have some close relations doing so. They've been finding the market quiet , but depending on the area , folks are holding out for the price stated on the brochure. I don't think it's been so much a 'major slow down' as much a seasonal lull , coupled with budget expectations.
My feel for it is that things will start picking up in the next month or so , and prices will start increasing again , but not at last years rates (hopefully)
A village like Greystones is always going to be popular , and has gone up hugely in the last few years .. There will be an expectation amongst vendors there that they can get the asking price , but you also could be lucky and find people who are needing to sell fast , or who are worried that things are slow at the moment.
Have you put an offer in ?
My feel for it is that things will start picking up in the next month or so , and prices will start increasing again , but not at last years rates (hopefully)
A village like Greystones is always going to be popular , and has gone up hugely in the last few years .. There will be an expectation amongst vendors there that they can get the asking price , but you also could be lucky and find people who are needing to sell fast , or who are worried that things are slow at the moment.
Have you put an offer in ?
Thanks for your viewpoint Ballcock, its the same as what the guy at the EBS and local estate agents have being telling me. I'm just in the middle of all the legal stuff with my sale in London but as soon as thats sorted I will start making offers. My parents live in Greystones so they can view properties for me. I guess it can't hurt to make an offer, it all depends on the seller's situation.
Cheers
Simon
Cheers
Simon
Hi Simon,
We're looking to move at the moment and although the market in South Dublin may be different, my read is that vendors and their estate agents are starting to get a little more optimistic, even over the past few days. Before Christmas, any sort of sensible offer was being considered but yesterday and today, a couple of agents have told me that the asking price will have to be bettered.
Good luck in the hunt!
Mark
We're looking to move at the moment and although the market in South Dublin may be different, my read is that vendors and their estate agents are starting to get a little more optimistic, even over the past few days. Before Christmas, any sort of sensible offer was being considered but yesterday and today, a couple of agents have told me that the asking price will have to be bettered.
Good luck in the hunt!
Mark
markomah said:
Hi Simon,
We're looking to move at the moment and although the market in South Dublin may be different, my read is that vendors and their estate agents are starting to get a little more optimistic, even over the past few days. Before Christmas, any sort of sensible offer was being considered but yesterday and today, a couple of agents have told me that the asking price will have to be bettered.
Good luck in the hunt!
Mark
We're looking to move at the moment and although the market in South Dublin may be different, my read is that vendors and their estate agents are starting to get a little more optimistic, even over the past few days. Before Christmas, any sort of sensible offer was being considered but yesterday and today, a couple of agents have told me that the asking price will have to be bettered.
Good luck in the hunt!
Mark
DEAD CAT BOUNCE. I am looking hard at the minute and lots still open to offers. A good few proporties have moved on in the last 3 weeks but still too early to call. At least too more interest rate rises in the near future.
I would hold until March and then find 10 properties and throw 10 cheeky offers. One will land.
We are building 90,000 units per year, can't afford to slow down as it will hit the economy.......over ten years that is 900,000 houses......nice, but where are the people......immigration will not cover that. Thinking of dumping my house in the new year.
Check out www.thepropertypin.com/forum/
Yeah Simon , I know the Greystones scene as my in-laws live there .. I reckon Irish may have a point in throwing cheeky offers , but that's assuming you don't have a partner who's smitten by one property in particular (usually the case) , and also the nicer the area , the cheekier the offer will seem!
It's not definite yet whether the interest rate will go all the way (up by another .5%) but there's still pent up demand for quality property , especially with all the absolutely shoite boxes that have been built in the last 5 years , and when folk decide that it's time to go out and buy again , they'll find themselves (in my humble..) at the end of a very long queue.
The long and the short is that there's always going to be demand for the well built (and most especially detached) houses in good areas and if you find yourself in a buyers market situation , then it's time to act.
Would you consider putting in an offer or two , even though your chain could be lengthy? Some vendors would be happy to have a commitment on their house with a reasonable amount of time for them to up sticks..
It's not definite yet whether the interest rate will go all the way (up by another .5%) but there's still pent up demand for quality property , especially with all the absolutely shoite boxes that have been built in the last 5 years , and when folk decide that it's time to go out and buy again , they'll find themselves (in my humble..) at the end of a very long queue.
The long and the short is that there's always going to be demand for the well built (and most especially detached) houses in good areas and if you find yourself in a buyers market situation , then it's time to act.
Would you consider putting in an offer or two , even though your chain could be lengthy? Some vendors would be happy to have a commitment on their house with a reasonable amount of time for them to up sticks..
Thanks all for the info! It looks like I have nothing to loose by making a silly offer on a property. My mother is pushing me to start making offers even though my London sale has not been completed yet. I thought it might be a bit cheeky making offers when I'm not in a position to move just yet.
THe property forum makes interesting reading. I phoned my Irish solicitor last night to ask him to do the conveyancing for my Irish prurchase, he mentioned that the investor market has completely dried up and that he is dealing with the odd private purchase. He feels that the market is going to drop with a hard rather than soft landing. He also mentioned that the upcoming general election will not help matters as buyers will wait to see if there will be any stamp duty changes promised by the different parties. It looks like its a good time to come back to Ireland looking to buy a house. Like anyone I don't want to pay over the odds. I'll keep you informed of what happens over the next few months.
Cheers
Simon
THe property forum makes interesting reading. I phoned my Irish solicitor last night to ask him to do the conveyancing for my Irish prurchase, he mentioned that the investor market has completely dried up and that he is dealing with the odd private purchase. He feels that the market is going to drop with a hard rather than soft landing. He also mentioned that the upcoming general election will not help matters as buyers will wait to see if there will be any stamp duty changes promised by the different parties. It looks like its a good time to come back to Ireland looking to buy a house. Like anyone I don't want to pay over the odds. I'll keep you informed of what happens over the next few months.
Cheers
Simon
Edited by simon e on Wednesday 10th January 08:22
Best of luck on that Simon.
I'd say it's not cheeky in any way , to make a bid before closing on your own property. It's more the norm here than anything else.
Our current house was bougth at a (slight) discount purely because we weren't in a chain , and the builder was getting worried at the amount of others who had deposits down on his site , while not able to sell their own houses...
Go for it...
I'd say it's not cheeky in any way , to make a bid before closing on your own property. It's more the norm here than anything else.
Our current house was bougth at a (slight) discount purely because we weren't in a chain , and the builder was getting worried at the amount of others who had deposits down on his site , while not able to sell their own houses...
Go for it...
I was talking to a friend of mine today who's in the money-lending business.
He told me the property market is slowed down big-time at the moment.
Not good for him as he makes his money on commissions.
There are a lot of people who need to sell but can't get buyers.
I'd say make and offer and there's a good chance it'll be accepted.
He told me the property market is slowed down big-time at the moment.
Not good for him as he makes his money on commissions.
There are a lot of people who need to sell but can't get buyers.
I'd say make and offer and there's a good chance it'll be accepted.
There's some good info regarding the slowdown at;
www.askaboutmoney.com
They have BANNED all talk of house prices because it was getting out of control. But have a look at some of the financial/economic facts that are being quoted there. With a further two rate rises predicted and increases in the cost of living (ESB bills are expected to be up 20% this year, for example) the general consensus is that the market is on the way down. Most are hoping for a soft landing, but don't bank on it...
www.askaboutmoney.com
They have BANNED all talk of house prices because it was getting out of control. But have a look at some of the financial/economic facts that are being quoted there. With a further two rate rises predicted and increases in the cost of living (ESB bills are expected to be up 20% this year, for example) the general consensus is that the market is on the way down. Most are hoping for a soft landing, but don't bank on it...
http://daftwatch.atspace.com/
This site makes very interesting reading. It tracks the unsold inventory on daft.ie (the most popular Irish property advertising site). Since June inventory has doubled from 14,000 units to 28,000 units!
My own view is that the Irish market is now experiencing a Wyle E. Coyote moment (run over the edge of the cliff, slowly looks down, gulps just before gravity catches up).
Meep meep!
This site makes very interesting reading. It tracks the unsold inventory on daft.ie (the most popular Irish property advertising site). Since June inventory has doubled from 14,000 units to 28,000 units!
My own view is that the Irish market is now experiencing a Wyle E. Coyote moment (run over the edge of the cliff, slowly looks down, gulps just before gravity catches up).
Meep meep!
Edited by windandwave on Friday 26th January 18:43
windandwave said:
http://daftwatch.atspace.com/
This site makes very interesting reading. It tracks the unsold inventory on daft.ie (the most popular Irish property advertising site). Since June inventory has doubled from 14,000 units to 28,000 units!
My own view is that the Irish market is now experiencing a Wyle E. Coyote moment (run over the edge of the cliff, slowly looks down, gulps just before gravity catches up).
Meep meep!
This site makes very interesting reading. It tracks the unsold inventory on daft.ie (the most popular Irish property advertising site). Since June inventory has doubled from 14,000 units to 28,000 units!
My own view is that the Irish market is now experiencing a Wyle E. Coyote moment (run over the edge of the cliff, slowly looks down, gulps just before gravity catches up).
Meep meep!
Here's another one
www.thepropertypin.com/forum/
This site is habited by all the dudes who got booted out of askaboutmoney for the unspeakable crime of... talking about house prices!!!
AAM is supposed to be a serious financial board, yet all talk of house prices (THE single most talked about topic in Ireland) is banned. Go figure...
Well I've gone and done it, put a deposit down on a new house this week in Rathdrum Co. Wicklow. After looking at house prices in Greystones and Delgany I just couldn't part with the silly money they were asking for shoeboxes and also the 30k stamp duty was another big turn off.
I'm getting a new 3 bed semi just outside Rathdrum on the Laragh road for 370k. I know some people will say you should wait and see what happens this year with the property market but I'm in this for the long haul, to get a home for a good few years rather than looking at it as an investment.
Lovely roads out there for driving and cycling and only an hour to Dublin airport early in the morning or late in the evening.
(I find myself looking at kitchen appliance websites as well as car ones now!)
Cheerio
Simon
I'm getting a new 3 bed semi just outside Rathdrum on the Laragh road for 370k. I know some people will say you should wait and see what happens this year with the property market but I'm in this for the long haul, to get a home for a good few years rather than looking at it as an investment.
Lovely roads out there for driving and cycling and only an hour to Dublin airport early in the morning or late in the evening.
(I find myself looking at kitchen appliance websites as well as car ones now!)
Cheerio
Simon
Simon E said:
Well I've gone and done it, put a deposit down on a new house this week in Rathdrum Co. Wicklow. After looking at house prices in Greystones and Delgany I just couldn't part with the silly money they were asking for shoeboxes and also the 30k stamp duty was another big turn off.
I'm getting a new 3 bed semi just outside Rathdrum on the Laragh road for 370k. I know some people will say you should wait and see what happens this year with the property market but I'm in this for the long haul, to get a home for a good few years rather than looking at it as an investment.
Lovely roads out there for driving and cycling and only an hour to Dublin airport early in the morning or late in the evening.
(I find myself looking at kitchen appliance websites as well as car ones now!)
Cheerio
Simon
I'm getting a new 3 bed semi just outside Rathdrum on the Laragh road for 370k. I know some people will say you should wait and see what happens this year with the property market but I'm in this for the long haul, to get a home for a good few years rather than looking at it as an investment.
Lovely roads out there for driving and cycling and only an hour to Dublin airport early in the morning or late in the evening.
(I find myself looking at kitchen appliance websites as well as car ones now!)
Cheerio
Simon
Congrats.
A
Well done Simon , I think you've made a wise move.
It's interesting times for Irish property , but I would be very very surprised if you were to end up regretting your move .
I've been hoping for the last few years that the 'soft landing' scenario is what we'll get , and now it seems to be happening , all the doomsayers are jumping up and down with delight and declaring "BUST".
Lets hope they don't talk us all into it!!
It's interesting times for Irish property , but I would be very very surprised if you were to end up regretting your move .
I've been hoping for the last few years that the 'soft landing' scenario is what we'll get , and now it seems to be happening , all the doomsayers are jumping up and down with delight and declaring "BUST".
Lets hope they don't talk us all into it!!
Yeh I wasn't sure if I should wait until the end of 2007 to see what happened with the property bubble or take the plunge. I decided to buy as I really don't plan on moving again for a good few years (although my record is 3 houses and 7 cars in the last 3 years!!!) I'm not looking at the house as an investment, more as a home, well I hope it feels like home!!!
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