Current public sentiment towards the housing market?

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partisan said:
Although the upper end of the rental market in Monkstown for a 2 bed is 2300+ per month. Assuming 11 months occupancy at the top end of the market and ignoring stamp duty you would get a yield at 520k pretty close to 5%...
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The average rent on a 2 bedroom apartment in Monkstown is €1587.50 based on 6 apartments on daft today.

So purchase price of €520,000 and rent of €1587.50 = gross yield of 3.0%. Miserable return!
 
partisan said:
Although the upper end of the rental market in Monkstown for a 2 bed is 2300+ per month. Assuming 11 months occupancy at the top end of the market and ignoring stamp duty you would get a yield at 520k pretty close to 5%...
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Forget aspirational examples. Show me a real example of any residential
property anywhere in Dublin with a yield of 5%. And I mean in-your-pocket real.

There isnt any, and hasn’t been any for years. This is a debt junkie market based on selling on for higher to the next mug. Or was.
 
whathome said:
The average rent on a 2 bedroom apartment in Monkstown is €1587.50 based on 6 apartments on daft today.

So purchase price of €520,000 and rent of €1587.50 = gross yield of 3.0%. Miserable return!
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Don't forget management fees
 
Arthur Daley said:
If the data is out of date by 3-4 months in the esri index (which let's face it is most punter's barometer of house prices), then there must be some scope for people to exit a market with some considerable equity in the event of a tipping point being reached.

There are a lot of clever posts on here and some predictions made in July/August are being borne out. However I think we have to see a distinction between 'current public sentiment' as opposed to 'well informed financially literate sentiment'. I mean you're average punter isn't a lunatic but they largely see what's in front of them. You need a few months of declining ESRI indicies reported on primetime media allied to more ECB increases to get to a tipping point which will bring on meltdown.
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agreed on the public vs sentiment on this thread... not 100% sure who is more correct though, i think the comments on this thread are a bit extreme. If you discovered an massive oil well in your back garden, some posters here would figure a way to make it a negative. :D

Its very difficult to time the market and we're too lazy to go through the whole redecorating/presentation cycle thats needed to max the price no matter what the sentiment is.....
It'll take a minimum of a month or 2 to get a serious offer and then at least another month to get to contract... but during that time you can withdraw from the market also

Guess it doesnt matter what the sentiment, if you are looking at your house as an investment first and foremost, the way to maximize your return, is to make bold decisions early whatever it is...

Good luck, but read something other than this thread for a balanced opinion.......
 
But what about the people who are happy to ride out any slump or crash. The people trying to make a quick buck are in the minority.
 
DeBarr said:
Re : Shandon Mills.

From what I can see they are different properties being offered by different agents. It is not a reduction in price of one property.

The more expensive one is being offered fully furnished.
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Fully furnished should not make any difference to resale price. Nor should floors, or anything the peopel have done bar a really quality extension perhpas.

YOu are buying a building not someones elses taste, you'd be foolish to be swayed by this. Remember that furnituire is most likely gong to endin a skip so there is no point in paying for it and then dumping it (plus the cost of a skip).

You are doing someone else a favour if you take their furniture they are lumping a Cost of Disposal liability onto youand then chargig you for it!! C'mon people! Don't get scammed by the fleeing Speculators.

Essentially you should view all properties as shells.

Fuly Furnished "might" only be attactive to Buy To Let.

Fully Furnished should not and I don't imagine is a serious factor in moving sentiment for one sale over another.
 
phoenix_n said:
Shandon Mills - Reduced from 445 to [broken link removed]
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DeBarr said:
Re : Shandon Mills.

From what I can see they are different properties being offered by different agents. It is not a reduction in price of one property.

The more expensive one is being offered fully furnished.
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My mistake. Linked to wrong property . Now corrected. (reduced to 430 not 425)
 
Andy Doof said:
But what about the people who are happy to ride out any slump or crash.
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Yesterday you were saying that their lives would be destroyed and everyone here was ill wishing? Today you're saying they're "happy to ride out any slump or crash" !!!
 
SteelBlue05 said:
2300 per month for 11 months = 25,300

yield = 25.3k/520k = about 5%

Is this the way its calculated?
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Yeah, I think so. It's an approxiamate formula - (annual income/cost)*100.

whathome said:
The average rent on a 2 bedroom apartment in Monkstown is €1587.50 based on 6 apartments on daft today.

So purchase price of €520,000 and rent of €1587.50 = gross yield of 3.0%. Miserable return!
Click to expand...

True, it really does depend on the assumptions you make. The variations are enormous!
 
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whathome said:
The average rent on a 2 bedroom apartment in Monkstown is €1587.50 based on 6 apartments on daft today.

So purchase price of €520,000 and rent of €1587.50 = gross yield of 3.0%. Miserable return!
Click to expand...

...dont forget to factor in capital (wait for it) deprecation
 
whathome said:
Using an average of six properties is more accurate than picking the highest one and adding a + as you appear to have done :)
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Ah now - I disagree there. It's marketing. Different folks expect different standards and have different price sensitivities. You can go for the top end of the market, or the budget end. There generally isn't such wild swings within different market segments as between them!
 
partisan said:
Ah now - I disagree there. It's marketing. Different folks expect different standards and have different price sensitivities. You can go for the top end of the market, or the budget end. There generally isn't such wild swings within different market segments as between them!
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Well considering it's one of the cheapest 2 bed apartments available in Monkstown - would you expect to get top end rent through marketing? Are you going to produce a glossy brochure and DVD virtual tour to increase your rental yield?
 
I wasn't actually...I said a crash in the property market could have dire consequences for some people.
You seemed to think this was a bizarre point of view. I still don't understand why?
 
whathome said:
The average rent on a 2 bedroom apartment in Monkstown is €1587.50 based on 6 apartments on daft today.

So purchase price of €520,000 and rent of €1587.50 = gross yield of 3.0%. Miserable return!
Click to expand...

I know somebody renting a similar apartment in that block (fully furnished) and they are paying 1300 per month! (this is why I've been checking their prices)
 
whathome said:
Well considering it's one of the cheapest 2 bed apartments available in Monkstown - would you expect to get top end rent through marketing? Are you going to produce a glossy brochure and DVD virtual tour to increase your rental yield?
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lol - I can't argue this one. I didn't really research that property. But maybe the downturn will force our landlords to become more entrepreneurial!
 
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I said a crash in the Irish property market would be have dire consequences for a lot of people. I think that's fair to say.
I also said that commentators who are willing there to be a crash are wishing ill on people. WHICH PART OF THAT DO YOU NOT UNDERSTAND?!
 
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