Current public sentiment towards the housing market?

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whizzbang said:
Still no sign of a auction resutls section in the Irish Times property section. How many more weeks before this starts to look fishy?

When would they usuall restart that section after the summer season?
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The Auction results won't really kick off until the last 2 weeks of Sept. Since a lot of houses came on the market in the last week, their lead time for auctions would be 3/4 weeks. So there should be a bumper crop of auction results for us to analyse in a couple of weeks (27/28/29 Sept seem to be particularly busy days for my area).
 

Indeed, although I'm not sure you can impugn all the journos of any paper (IT or Indo) just because they have a few incredibly lazy hacks working for them (except the Sindo of course - they should all be forcefed their own copy )
Personally I'd love to read Tom Humphries' take on the Irish property market....
 

fair enough, thanks for the feedback.
 
Me too, although, I haven't been getting any bullish pangs, all I'm saying is that I think there's a bit to go yet, and that it might take bad news on the job front before we start to see significant declines. Remember we have a giveaway budget coming up, and likewise I feel IR could fall again by next march, the ECB are ratchetting them up too quickly for the big euro countries, I think mainly to counter inflation led by oil prices, that represents double hits for industries (allied to increased oil costs) in those countries, and might be too hard for them to cope with.

Whathome - what were you expecting to get for your home, what do you think you'll get now, what type and approx location and is there much interest? Rough amount of vewings, how long on market etc? (if you don't mind).
 
Glenbhoy said:
I feel IR could fall again by next march, the ECB are ratchetting them up too quickly for the big euro countries
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I can see them perhaps pausing early/mid 2007 but I can't see them falling.
The ECB has been slow and steady with the rate increases so far. 0.25%
every 3-months and now in 2-monthly intervals all with plenty of forewarning
from Trichet's statements.
 
The Auction results won't really kick off until the last 2 weeks of Sept. Since a lot of houses came on the market in the last week
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Are there not auction results in the property supplement today? I saw some anyway.
The Investment property supplement was quite funny though. Best quote was "I know a family from Killiney who bought in Tuscany..... they can travel door to door in 4 hrs, that's less than the trip to Kerry", a quote I would have to question the veracity of.
 

There are some - but the real 'barometer' will be end-Sept results (I reckon, anyway!)

As for the 4hr door-to-door..... sure Killiney to the airport can take nearly 2hrs on a bad day (never mind the queues at check-in)!! Methinks they have their own private jet....
 
Glenbhoy said:
Are there not auction results in the property supplement today? I saw some anyway.
T
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I was looking for the section that summarised them all, how many sold, how many were with drawn, stuff like that. I think that part was missing.
 
This is only my opinion, not based on any results of studying the economy, scruitinising reports, or following interest rate news etc, you might say it is the sentiment of the man on the street, a gut feeling if you will.

I reckon that there is no way bertie and the boys are going to let anything happen until they are safely back in the hot seat after next years election. (Although there was an interesting theory here how they would loose it on purpose so as they would not be in power when things went pear shaped )

People can spend all day giving out about the govenment but I think the only thing that will stop FF and the PD's getting back in is if something happens to the propery market.

In our own situation we bought a house about 3 years ago and are currently building a new one. for the last few months I have thought of nothing else but whether to kepp on to the first one as an investment or flog it and use the equity to reduce the mortgage in the new one.

I have finally decided to sell it (even though the rental would cover the full mortgage repayment) as I think things will tank this time next year IMO
 
Glenbhoy said:
Whathome - what were you expecting to get for your home, what do you think you'll get now, what type and approx location and is there much interest? Rough amount of vewings, how long on market etc? (if you don't mind).
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As I mentioned, we're selling two properties. First contracts are signed on one property thank God - sold at asking.

The other one is in the 600k range on the Northside - on the market since the Spring. It was bid above asking very quickly and we were sale agreed for a few weeks. Unfortunately there was a delay getting deeds between solicitor and bank and during that time, buyer backed out. So underbidder stepped in to very slightly below asking which we accepted. They backed out also - very little interest since then and now we're reducing the asking price by 30k and we're spending €700 to have the brochures reprinted and another go at advertising in the Independent - the paper of choice when selling property on the northside

We're not looking forward to more hassle with viewings, stress etc so the sooner this is all over, the better.

First noticed the market weakening very late in May when we started to see fewer people at viewings and bidding on houses wasn't as aggressive - we were already sale-agreed then and thought we were safe.

It's way too early to say that there's a crash....but it's not too early to suggest that sentiment has changed since the spring and it's becoming a buyers market.
 


Do you think this is actually in there power? A giveaway budget will only get them so far.

I'm a fan of the second theory too not sure they would go for it though!
 
Once market sentiment changes by enough theres nothing the government can do.
 
whizzbang said:
I'm a fan of the second theory too not sure they would go for it though!
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For as long as I can remember FF have managed to leave office just as the economy was going down the cr@pper and left another party to pick up the pieces, aka take the blame!:mad:
 
liteweight said:
For as long as I can remember FF have managed to leave office just as the economy was going down the cr@pper and left another party to pick up the pieces, aka take the blame!:mad:
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And Mary Harney just quit for unspecified reasons...
 

Any idea why the second buyer pulled out? How have other sales gone in the area? Have you had many viewing?
 
whathome said:
It's way to early to say that there's a crash....but it's not too early to suggest that sentiment has changed since the spring and it's becoming a buyers market.
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Fair enough, although I still feel that the summer is always very slow, you'll know better in the next few weeks.
 
whathome said:
This house reduced by €1,000,000 ...

Any takers?

Was €8,500,000:


Now only €7,500,000
[broken link removed]
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Thats alot of drop in anyones money in prime area that should be immune from any change in sentiment.
 
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642 houses in loughrea and over 250 in ballinasloe for sale on daft !!! Tell me im seeing things!!!
 
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