Asking Prices - Worrying developments


#1043

Number 11 sold for €250K!! Another nice profit to be made there as well.


#1044

Donegal seems to have peaked over night.
myhome.ie/recent/donegal
s8.postimg.org/43nkvo285/Screen_ … _03_49.png


#1045

Fantastic.
myhome.ie/residential/brochu … al/3300542
39.87 acres of Muff for €20 million. :laughing:


#1046

Is it just me or has the recent-ish fall in prices in the SCD area come to an end?

Yeah, some asking prices still falling but the actual selling prices being achieved are ‘sticky’ and not going to far off those from 2014.
Went to a viewing today and as it was 5th viewing in as many weeks, I expected the frothy price to be coming down. But was told by EA it’s got a bid of 3% under asking which really surprised me.

I dunno, I really don’t


#1047

My PPR index is showing a big bounce in average prices for the last few months but it does look like transactions are slowing up a bit.


#1048

Are transactions really slowing up?

Or do you mean the 12 month rate of growth is slowing? i.e. transaction volumes continue to grow but at a slower pace than earlier in the year.

Ps July looks like being another record beating month :slight_smile:


#1049

I’d agree with this - see more detailed figures here - viewtopic.php?f=10&t=61818&hilit=is+supply+coming+on&start=1123

I have tried for some time to guesstimate the ‘normal’ number of sales to be expected in Dublin in a year - I come up with figures between 20 and 26000 per year (based on the percentage of houses expected to turn over each year in other jurisdictions) which suggests that Dublin has some way to go as there were 14000 sales last year. Conservatively I would think that sales will increase by at least 30% this year suggesting a figure around 18000 which gets us near the lower end of my guesstimate.

It seems that supply isn’t clearing at the moment (perhaps because its crap, or overpriced - perhaps there is no demand - it’s probably impossible to tell) - normally there would be a surge in available properties in September and I will be surprised if this doesn’t happen. One interesting tell tale sign is that I haven’t received anything from EAs in the last few months saying that they are looking for properties like mine - that would normally happen every couple of months and especially just before a major selling season.


#1050

If the stats were going the other way, you’d be very quick to jump down somebody’s throat for the moronity of comparing MOM rather than YOY.


#1051

myhome.ie/residential/brochu … in/3308792

Some asking! nice house, done well, just not worth over €600k!


#1052

Peak silliness, with no credit to fuel this delusion some people are in for a rude awakening pretty soon. BD


#1053

In two rooms they’ve got TVs hung on the wall above couches - odd. Could be a nice house without all the superfluous furniture and tat. And a real garden instead of an utterly useless gravel pit.


#1054

That’s just EA photograph set design nonsense. The red sofa in pic 6 is blocking the doorway into the living room, so in pics 7 & 8 it’s been moved under the telly.


#1055

So…how much then would you expect to pay for a largish, well-maintained family home in a desirable area on the coast, outside a capital city near the main airport?


#1056

It’s not largeish, it’s about as small as a 4 bed can be.


#1057

Isn’t it sort of weird that this isn’t feeding into the rental supply market?

You’re a prospective seller, you want 2007 peak prices but can’t get it. Why not enjoy the rental goldmine? Any rubbish house within the canals will pull in €1500/month. Why not rent it out until the perfect buyer appears?

Under PTRB rules you can let it out for 5 months (€7,500) then evict everyone if you find a buyer. No buyer? Another 5 months, another €7,500, evict them all, look for buyers. Even if you never find a buyer you’ve still got an insanely high income with no work done.


#1058

Just having a quick look at Clontarf.

33 Dollymount Grove just come on today at €645k.

myhome.ie/residential/brochu … -3/3168920

This equates to €428/sq ft so around 10% less than many of the other nearby properties - a very solid family house.

Then checked out the Seacourt Properties that are listed. If you want an example of the Dublin house market over the last 18-months then 13 Seacourt is the one:

myhome.ie/residential/brochu … -3/2896467

listed 1H 2014 at €780k
August 14: Increased €70k to €850k
October 14: Decreased €50k to €799k
Jan 15: Decreased €50k to €749k.
Summer 15: Next door neighbor with identical house lists for €690k.

… I think we may see a decrease on this property!

So ultimately, what I’m trying to say is €500k+ properties in Clontarf are definitely coming under downward pressure.


#1059

But that level of evictions would be adding “churn” to the market. Forcing extra transactions while the sales market is way under with transactions.


#1060

Are you assuming the owner is a landlord already though?

Otherwise where does the seller go? Another house - is that not just substitution.

Not so easy to move, when your not releasing equity by selling and you’ve to come up with deposit?

Perhaps i’m misreading what you are saying.


#1061

#9 myhome.ie/priceregister/9-se … n-3-198063

Hardly massive consolation to anyone that they’ll ‘only’ have to pay €690k (or whatever it actually goes for) compared to €535k 2 years ago.


#1062

2 things:

  1. Lets wait and see where prices settle - this is the asking not the sale price.
  2. Do you mean an asking of £486k vs sale of £465k in 2013 :slight_smile: