Current public sentiment towards the housing market?

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Raskolnikov said:
I'm listening to a lady on the phone to one of her mates at work here (strange how she always seems to be on the phone to friends). She's just after giving a rundown of her recent purchase of a third house. Her reason for purchase was that she just wouldn't feel safe investing her money in anything else.
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"Safe as houses" ;)
 
whizzbang said:
I'm doing a dail record of all houses for sale in the country and by county if this is what you are doing? I plan to graph it dynamically too :) but only if I get bored enough ;)
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Perhaps Duplex can post the results on his blog? Like I said above, rising inventory is the classic tell-tale sign of when a sellers market is starting to top out.
 
whizzbang said:
I'm doing a dail record of all houses for sale in the country and by county if this is what you are doing? I plan to graph it dynamically too :) but only if I get bored enough ;)
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I'm just doing the country! Been doing it since Friday.
Code: 
 Date        Properties To Buy    Properties To Let 
07 July        14,097            5,067 
08 July        -            - 
09 July        -            - 
10 July        14,122            4,938 
11 July        14,281            4,968 
12 July        14,445            5,036
 
whizzbang said:
I'm doing a dail record of all houses for sale in the country and by county if this is what you are doing? I plan to graph it dynamically too :) but only if I get bored enough ;)
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Oh grand , I only ever quote the national figure but ye know that :D anyway ....and who started doing this DAFT Effect may I enquire ?

If yiz are on holidays I can always 'capture' the data for you .

If I was doing a county survey I would stick to

Westmeath/Laois/Carlow/Wexford/Cavan/Louth (Band 1)

Kildare/Meath/Wicklow (Band2)

and Dublin (all) .

My contention , my 2 band theory is that the Band 1 prices and supply will soon show a CONSIDERABLE divergence with the same metrics in Band 2 and also with the same metrics in Dublin itself.

Smaller towns such as Galway do not really overspill that much out of the county (same with Cork) so the data is inconclusive. If there were a Band 1 in Galway it would be the likes of Gort vis a vis Galway City ...eg around 20 miles out not 40-70 as with Dublin. Band 1 in Cork would be Fermoy and Mallow at 25miles.
 
Just noticed this [broken link removed] on Daft, says the average house price in Ireland is now €365k whereas the recent ESRI report http://www.finfacts.com/biz10/irelandhouseprices.htm has the average house price at just under €300k.

Even though the Daft report is from May I don't recall seeing it mentioned here previously, maybe I missed it. Why the huge difference between the Daft average and the ESRI average? What are Daft playing at? Am I missing something?

 
2Pack said:
Oh grand (not by county , I only ever quote the national figure but ye know that :D anyway ....and who started doing this DAFT Effect may I enquire ?

If yizare on holidays I can always 'capture' the data for you .
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Thanks! but I have it automated, i intend to forget about it for a few months and take a look again in September! Once it is automated I can just nab all the counties everyday no bother.

I did get the idea after seeing your monitoring of the situation last Friday ;)
 
It will be interesting to watch how the developers react this coming selling season. The developers will not want to percipitate a downward trend by reducing prices, instead they will offer cash back deals, increasing allowances etc. What we also may witness is purchasers playing hardball by daring to haggle!
 
ivuernis said:
Just noticed this [broken link removed] on Daft, says the average house price in Ireland is now €365k whereas the recent ESRI report http://www.finfacts.com/biz10/irelandhouseprices.htm has the average house price at just under €300k.

Even though the Daft report is from May I don't recall seeing it mentioned here previously, maybe I missed it. Why the huge difference between the Daft average and the ESRI average? What are Daft playing at? Am I missing something?
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Daft probably is for whole country while I think ESRI splits Dublin and non-Dublin. so 300k is the average non Dublin price
 
whizzbang said:
Daft probably is for whole country while I think ESRI splits Dublin and non-Dublin. so 300k is the average non Dublin price
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Don't think so, quote from the ESRI report: "The average price paid for a house nationally in May of this year was €296,361, up €18,500 on that recorded for December 2005 (€277,852)."
 
ivuernis said:
Don't think so, quote from the ESRI report: "The average price paid for a house nationally in May of this year was €296,361, up €18,500 on that recorded for December 2005 (€277,852)."
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ah, i sit corrected
 
whizzbang said:
ah, i sit corrected
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An ideas as to the discrepancy between the 2 figure then? It's pretty big! How can the Daft figure be so wildly out of sync with the ESRI figure?

 
ivuernis said:
An ideas as to the discrepancy between the 2 figure then? It's pretty big! How can the Daft figure be so wildly out of sync with the ESRI figure?
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Their basket of houses may be different.
 
Howitzer said:
Have heard from the horses mouth that this is the current strategy of EAs. Highest price in area is 381K, pitch at 420K with the expressed notion of dropping to 390K after 2 weeks. Hoping that someone will bite at a high price but at all times telling the vendor that 381K is the realistic target. Someone buys at 390K thinking they've got a bargain and everyone's happy. Next sale....
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Now that is interesting. I was involved in a bidding war on a 3 bed end of terrace house in the Coombe area last May. The original asking price was €395K and it ultimatly went for €457K AFAIK.

The other day the EA got back on to me. Said she was contacting all the underbidders for that house as she had another property in the same area. Now this property is only a two bed and it is mid terrace (I reckon end of terrace increases value). She told me the asking price for this was €420K.

I was thinking straight away that this is too expensive and the vendors got greedy. I plan to check out the house but was certainly not planning on bidding at that price. If the 3 bed EOT is worth 457K, then I would have thought a two bed mid-t is worth under 400K. But it does sound like this EA is following the strategy you mention. Maybe it's only worth 381K
 
With regard to the statistics from the Daft.ie site, one of the factors to take into account is whether the number of houses being advertised on Daft.ie is rising or falling as a % of the total number of houses for sale - if the total number of houses for sale is staying constant but more and more are advertised through Daft.ie, it will look like the number of houses available is increasing although this is not so.
 
offer €360k , fully approved and no chain , see if the EA 'nibbles ' :D
 
Its time that Bertie started dishing out Prozac to the lads up at The Central Bank. They’ve only gone and issued another warning about the housing market. What is it with these doom mongers?

‘risk of a sharp correction’

‘unbalanced nature of growth’,

‘prices could be overvalued’

I ask ya.

[broken link removed]
 
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