Current public sentiment towards the housing market?

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Builders make money by building if they are not building they are not making money, simple (well I think so )
 
plaudit said:
The immigrants will arrive with no work available so they will have to leave again.
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Once the housing market cools down I expect to see a couple thousand immigrant construction workers hop across to the pond to fill the reported 33,500 new construction jobs that will be created when constuction for the 2012 London Olympics begins. There's another couple thousand rented accomodations back on the market.

"Which jobs will the Olympics create?
It’s estimated that preparations for the Olympics will create 150,000 jobs over the next seven years; 12,000 permanent jobs will be needed to service the site and its legacy afterwards."


http://www.learndirect-advice.co.uk/featured/olym/
 

I'd probably go 150K. Considering size and (most) importantly location.
 
bren2002 said:
I'd probably go 150K. Considering size and (most) importantly location.
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Proximity to Lucan village usually commanded a premium. Now, with recent traffic problems, I think people are starting to avoid having to commute through the village. I've heard some residents in Laraghcon complain about an hours drive just to get through the village.
 
Art said:
Don't know where you are getting the 1% from. Looks a lot closer to 5% to me.
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sorry, the maths were wrong, but the example is maybe a bad one! (Also remember that you have to pay rent tax, bills rates and what not. The net rental take is about 1-2% of hse value.)
These examples only apply to guys buying investment property right now. Only a portion of the hse market is FTB's, so there are a lot of new investors about. If you own your rental property for 5 or 10 years, then the figures don't apply as much, as your LoanToValue is maybe 20%!

Heres the article i was trying to find last night that shows examples from a Dublin stockbroker (guess who), showing yield of 1-2%.

well worth a read for any new or intending investor
http://www.finfacts.com/irelandbusinessnews/publish/article_10005356.shtml

The main stat that affects yield is 'Since April 2001, house prices are up 52% on average nationwide but rents are down 2%'.
 
Has anybody noticed that all the 'Region €317,000' notices on daft have become 'Region €310,000' etc...
Small but significant.

"It's not the size of the step, but the direction that it takes"...I can't remember who said it....
 
All the geniuses working for the EAs have no idea how to deal with a slowing market. Every single one has gone back to their vendors and went, look we'll drop the asking price by a 10K that'll arouse a load of interest and suddenly we'll have 5 people outbidding each other and the price will sky rocket. The problem is they've all had the same brainwave.
 
Looks like the boys from DAFT (the Fallon brothers) are monitoring this site. One criteria I used to use to look at price drops was to change the max price to 100K. Up till a few days ago this used to return in the region of 2300 hits with most of these quoting "Price on Application". This figure has now dropped to about 700.

Also I wonder if they will now try and offload the site to some mug especially after being featured in the Herald last night. Methinks its too late, but good luck to them if they can ...
 
Bedsit said:
...
Also I wonder if they will now try and offload the site to some mug especially after being featured in the Herald last night. Methinks its too late, but good luck to them if they can ...
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Slightly off topic but... people will always need to buy, sell and rent properties, regardless of rising/falling house prices or high/low interest rates, and currently Daft is one of the best (if not the best site out there for this). I would say they would have no problem selling it, if they were foolish enough to want to in the first place.
 


As I have a relative living in Mullingar I'm keeping an eye on the situation there - there are litterly hundreds of new houses up for sale, and it's not such a big place!
 
Another house in Mullingar

Was €325,000


Now €315,000 and still no takers.
http://www.daft.ie/116563

If anybody has been to Mullingar take a drive through Belvedere Hills, nice 4 bedroom semi detached houses, under €315,000. The problem is half of the housing estate remains unsold, the houses are 100% ready to move in but there no takers. I drove though last week and there must be over 20 occupied houses with FOR SALE signs.
 
is it just me or does inventory seem to be building up a hell of alot quicker than anyone anticipated?
 
ivuernis said:
Are we looking at the same thing? It's an unfurnished one-bed studio flat, not a classy apartment.
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It's all relative I agree! Compared with a two bed ex-Corpo in West Dublin 'furnished' with Argos flat-packs, 'boasting' (!) a court-yard-style garden (translate - space for a rotary clothes-line) at an asking rent of Euro800 p.m. per person a spacious contemporary fully-tiled studio apartment with underfloor heating in the centre of Frankfurt for Euro 380 seems to me the better deal!........but I may be over-endowed by experience of life and standards in other countries.
 

Oh Marie, I totally agree with you. Along with the handy tenant friendly legislation and decent security of tenure of course, I really do feel that 380E to live on my own in the centre of Frankfurt is a far better deal than oh 1100E to live on my own in the centre of Dublin.
 
madisona said:
I think that he was referring to a price reduction from that that was attained from a comparable property and not a drop in asking price.
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a few people have said this on this thread and i dont think anyone has picked up on it to try and counter it so i will.

if the vendor was having viewings / interested parties they would not have reason to drop the asking price.Therefore logic suggests that if they drop the price by whatever figure they choose to encourage anyone to bid that does not mean that suddenly people are bidding up the price back to the original asking price or above .

actually come to think of it if a prospective buyer see's the asking price reduced do you think they'd be willing to get into a bidding war or try and play tough with bids? god forbid the thought but hell they may even make an offer BELOW the asking price in time to come

so therefore in alot of peoples eyes a drop in asking price equates to a drop in price.
 
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