Asking Prices - Worrying developments


#1

These have both just come on the market.

daft.ie/searchsale.daft?id=704750
daft.ie/searchsale.daft?id=704725

Both look nice enough layout wise and arent bad overall, though not finished similar to my own tastes.

Now houses in seabury were just drifting south of 300k in 2012 (with a number needing a little doing up selling for anywhere between 270k and 290k).

To see these come on at a full 50k plus higher than that level is a bit depressing, esp given MIR relief is gone.

They are basic 3 bed semi’s with a box room as the 3rd room.

It will be interesting to see if these are snapped up or hang around before dropping in price.

They were getting to a sensible level around the 275k mark - its seem the Q3 & Q4 frenzy means we ve gone 18 months backwards.


#2

I wouldn’t worry too much about it… prices can be set to whatever you want.
The state nor it’s banks can access enough capital to re-flate the bubble… this is more a symptom of restricted supply a la NAMA etc.
This supply can’t hold off for ever… in the same way the bubble wasn’t able to inflate forever!


#3

Plenty of price cuts in the ‘Seabury’ area throughout 2012. Collapso.net


#4

Pitch it high, sell it cheap. Its so the EA can say that it has dropped a WHOLE 50k already, you can’t possibly put an offer in under that.


#5

I was having a browse earlier so anyway;

The 2nd one in the OP didn’t last long - sale agreed already. Be interesting to see what it goes for.

This has just come on (myhome.ie/residential/brochu … ty/2413551) - so higher we go again - 360k for a 3 bed semi :cry: Great view and nice house admittedly but still on a busy road and the 2nd and 3rd bedrooms are small.

This myhome.ie/residential/brochu … in/2332855 was asking 350k - again be interesting to see what they got

No.11 sold for 250k in early 2012 (myhome.ie/priceregister/11-l … blin-59967) - seems like someone bought at the right time/ got a good deal.

We now have 4 beds at 450k - myhome.ie/residential/brochu … ad/2400645).

That mental mentality seems to be creeping back. Honestly seems mad what’s going on at present, hard to make sense of it.

Lets hope malahide really is different, as this is NCD and not SOTL.


#6

Feel the same :frowning:

Went to see Seabury Vale today and Seabury Lawn last week.

Both EA’s very bullish. Bidding for Lawn was over 315k at the start of the week and EA for Vale was talking very much as if 360k was gonna be a slam dunk. (His own family bought it in August 2011 for 315k and now they’re flipping it for 45.

Wtf? From this, 3 bed Seaburys have gone up 50k in the last four months.

People surely won’t fall for this.

Will they? :confused:


#7

We’ve noticed this as well. Agents are putting allot of guff into talking the market up now in Malahide and Portmarnock.

Seabury Vale, the one you link to there, was sold for €315k in 2011. Now it’s up for €360k.

Check out the old ad here - looks exactly the same bar the kitchen. The couches and beds look the same.

myhome.ie/residential/brochu … in/1880864


#8

Is it a mini bubble or a floor on prices? A mini bubble means hold fast & prices will reduce further (when, why?), and a floor means upwards trends (when - from now, why - beacuse there’s a scarcity of supply that won’t improve)…??


#9

I’ve no idea time will tell I guess.

I’m sale agreed elsewhere (not Malahide), but I use to live there so am just using Malahide and a few other places as a tracker/gauge on the market in general this side of the liffey.

Will be interesting to see how this develops.


#10

What do you mean - you’re buying to track the market??


#11

No (i wish i had that much cash) - just generally musing/tracking the going’s on in malahide etc.

I’ll still take an interest in the market after.

I’m buying my own reasons (renter fatigue, circumstances etc)


#12

3 bed in Seabury
daft.ie/searchsale.daft?id=663656
Sale agreed with a €375k asking price. Will be an interesting one to see on the register


#13

Tnx for clarification. Always interested in buyer motivations… best of luck with it.


#14

Prob a better house than most in seabury - at least 100 sq feet bigger (200 more than some), well finished and a much bigger back garden (despite sunroom).

Going to be an interesting one alright.

I’d guess around 365k as surely the 4 beds in Gainsborough (though bit further out but nice development family life wise) which are going at circa 400k put a ceiling on the 3 beds.


#15

Monkstown asking price jump:

16 Faber Grove sold 245k October 2012 (was asking 235k):

myhome.ie/priceregister/16-f … blin-55917

10 Faber Grove asking 335k 4 months later:

myhome.ie/residential/brochu … in/2341629

10 is obviously in a better decorative state, but is in fact a little smaller, but worth 90k more? :sick:


#16

Can someone please explain to me what exactly is meant by “Renter Fatigue”? And at the same time not also be describing what is meant by the term “Rent money is dead money”.


#17

Having to put up with wnker landlords is one aspect of it (not that all landlords are wnkers).


#18

The two are unconnected but the fatigue does tend to increase when the fall in prices doesn’t outweigh rental cost :slight_smile: .

By renter fatigue I mean - not being able to change decor/ having to wait days or weeks for people to call around and fix problems, moving around and switching all bills/post etc.

Basically it’s got tedious. It makes financial sense for us to buy now, it makes circumstantial sense also and we’ve waited long enough and spent enough time researching.


#19

It will indeed. We’re renting a few doors down, from the same landlord who was renting out #6 until recently. The LL also has many other properties (as well as a few restaurants) in Malahide and the surrounding area, and they tend to have the same interiors so can be spotted via photos on Daft/MyHome. They are well presented and the LL usually responds promptly to tenant issues (if sufficiently pressed). As the property is almost identical to ours, seeing what #6 actually sells for will give me a direct comparison between renting and buying.


#20

Having children growing up without the concept of a family home - living their childhoods in a temporary rental space that might change on a whim. Seems a bit unnatural to parents who were brought up in family homes.