If true, that would indicate a massive change in sentiment to me. The property bulls of the last 5-10 years turning bearish and cashing in?
- Status
If true, that would indicate a massive change in sentiment to me. The property bulls of the last 5-10 years turning bearish and cashing in?
G
Guest107
Guest
also remember that a €635k asking with the intent to sell at €600k may attract no interest because people see the asking price as a sort of minimum ....given the history of the Dublin housing market in this decade.
a €550k asking price may get a lot of interest in the property and start a bidding war that drives the price up to €600k
so you are no worse off as a seller are you
a €550k asking price may get a lot of interest in the property and start a bidding war that drives the price up to €600k
so you are no worse off as a seller are you
P
phoenix_n
Guest
Z
Zarathustra
Guest
Long time lurker, first time posting. Intrigued by this thread.
I've noticed a reduced asking price in Dun Laoghaire.
In May, this house was being auctioned with a guide of 1.75M; see the Irish Times' article: [broken link removed]
It's now for private treaty sale at 1.595M: [broken link removed]
That's almost a 9% reduction.
I've noticed a reduced asking price in Dun Laoghaire.
In May, this house was being auctioned with a guide of 1.75M; see the Irish Times' article: [broken link removed]
It's now for private treaty sale at 1.595M: [broken link removed]
That's almost a 9% reduction.
That's a very big drop - so it's now advertised well below the original AMV....and AMV's are usually way below the price that a vendor expects.
P
phoenix_n
Guest
And the vendor had to service the debt during the summer aswell.
W
wolfie
Guest
Just checked daft again in Athlone 137 houses for sale. I know at least 40 of those are investor owned.Quite a few blocks of houses together i.e nos 137,138,139 for sale at once some houses for sale in pairs on same streets.Havent noticed this amount of investor type properties being dumped like this before.Surprising as there is a large student population in athlone and renting out these types of houses is usually quite easy.Also checked other auctioneers sites in athlone that dont use daft and there are another 30 similar properties for sale.
G
Guest107
Guest
lots and lots of Willow park in Athlone for sale (studentland) maybe they built a load of section 50 apartments there ???
eg €170k each and two up for disposal (same windows , nudge nudge) .
but the build quality out there is chronic .
eg €170k each and two up for disposal (same windows , nudge nudge) .
but the build quality out there is chronic .
H
Harrogate
Guest
yes, I can confirm these figures ......
Translate to
Us ..................300 people per new house built
UK...................386 ''
Australia...........144 ''
Ireland..............42
So taking the 2 extremes Ireland's housebuilding rate is over 9 times greater than the UK's which has been restricted in the last 30 years by tight planning laws.
W
wolfie
Guest
They built some section 50. Most of these houses for sale were built in the eighties and ninties and you would expect thatthe yield from rent would be good.They would have been investor owned for quite a while ie "smart money" and it looks like these guys know that the market peak is close.
B
Bedsit
Guest
Home for Sale, by Anxious Owner (NY Times)
"In California, the Northeast, South Florida and parts of the Southwest, deal sweeteners like these are playing an increasingly important role in supporting home prices. From large national home builders to individual homeowners, many sellers are offering thousands of dollars in perks, including straight cash, so they do not have to slice deeply into asking prices."
http://www.nytimes.com/2006/08/25/b...6508424-LfH61VhncZqpw8i7oK9TiQ&pagewanted=all
I wonder what type of sweetners will be on offer in Ireland in the next few months.
"In California, the Northeast, South Florida and parts of the Southwest, deal sweeteners like these are playing an increasingly important role in supporting home prices. From large national home builders to individual homeowners, many sellers are offering thousands of dollars in perks, including straight cash, so they do not have to slice deeply into asking prices."
http://www.nytimes.com/2006/08/25/b...6508424-LfH61VhncZqpw8i7oK9TiQ&pagewanted=all
I wonder what type of sweetners will be on offer in Ireland in the next few months.
Blinds and Barna sheds
G
Guest107
Guest
You are absolutely correct my dear fellow but none of these international comparisons apply (or mean anything) to the average Irish Property Professional or Bull .
They will tell you that we are 'different' and that we are 'special' , you lot don't have the 'property ladder' experience like we do and are deprived of a very important formative experience .
Our Primary Home Ownership is approx the same as yours over there, stats from
http://www.cso.ie/
Our ratio of housing units per capita is exactly the same as yours too, 426 units per 1000 persons in 2005 IIRC
I did post it earlier this week in this thread somewhere.
But we'll see just how bloody different we are in about 1 year flat
W
wolfie
Guest
Just noticed that athlone houses for sale on daft has jumped from 137 to 150 in one hour. Sherry fitzgerald have added their houses for the first time .Must be having trouble selling them from the shop window!!
CelloPoint
Registered User
- Messages
- 75
We've had the daft debate already. You can't make conclusions based on daft stats (especially with your tiny sample size over a one hour snapshot).
Also, I'd be very surprised if the statistic: "number of houses currently for sale in Ireland" was not managed so as to give the impression of a stable market.
P
phoenix_n
Guest
CelloPoint....you should stop smoking the wacky tobacky...!
W
wolfie
Guest
Observations not conclusions!!! Thats the highest daft figure for athlone for months
I agree generally but if you think that they are massaging the figures to give the impressioin of a stable market, they are doing a bad job - the number of properties on sale has increased from 14000 in late early July to over 17000 now.
Agree that they should be taken with a pinch of salt, though
I was talking to a guy from Mitchelstown in Cork last weekend and he was telling me there is an estate there, where they just cant sell the houses!
Has anyone else heard anything similar about other areas recently? And one fifth of first time buyers are foreigners, the minute things dont look so good they'll surely be gone!
Has anyone else heard anything similar about other areas recently? And one fifth of first time buyers are foreigners, the minute things dont look so good they'll surely be gone!
T
thewatcher
Guest
http://www.askaboutmoney.com//showthread.php?t=35102
I attempted to start a seperate thread on inventory,but it was locked down.Needless to say we won't take up this thread with the daft debate again but 4000 houses in 7 weeks cannot be explained away easily to me !.
- Status