Current Public Sentiment towards the Housing Market


Housing crisis affects 10% of the population directly. And indirectly? Massive election issue.
75% of young workers have no prospect of buying a home, ever.


Did the Sindo poll identify what percentage of homes across the country HAVE NO KITCHEN??


Gerry Gannon loves to play Santa in North Dublin - another big announcement before Christmas. This time its 1,500 apartments in Clongriffin, almost all are build to rent: … 46940.html
He’s using the Strategic Housing Development Rules to short-circuit the planning process. Nothing like the Christmas to catch the residents associations off-guard during nine-week consultation period. Pile 'em high, Gerry. No-one can say boo during a housing crisis. :sick:


Gerry Gannon loves to play Santa in North Dublin - another big announcement before Christmas. This time its 1,500 apartments in Clongriffin, almost all are build to rent: … 46940.html
He’s using the Strategic Housing Development Rules to short-circuit the planning process. Nothing like the Christmas to catch residents associations off-guard - the nine-week consultation period will be over before their hangovers. 8DD
Pile 'em high, Gerry. No-one can say boo during a housing crisis. And NAMA is still your BFF :sick:


Some welcome developments, I think, from today’s IT:

Gist of it was that a few estate agents in South Dublin were interviewed and believe affordability is such an issue that prices are starting to fall, and the supply of homes on the market has increased substantially in recent months. They are seeing smaller numbers at viewings according to the article.

It also quotes a Goodbody report that ‘just one in 10 couples can afford to pay €430,000 for a home, yet one in 6 new houses were sold this year above this value’.


I’d love to hear more Pinsters views on this. Are we looking at a reduction in Dublin? How much and when? Oh that we could tell :open_mouth:


Maybe it’s finally time for the second hand crap to come down in price.

Whatever about affording half a million quid for a 2019-spec new build, half a million for all manner of 1960-1990s kips that need several hundred thousands’ worth of deep retrofit is nuts.


Maybe some resistance to the CBI caps will be dismantled piece by piece. To prevent them being a drag on the economy like.


Anecdotal, but the house beside the outlaws that had been informally sale agreed since last summer finally has a Sale Agreed sign on the sign. I thought it was optimistically priced…

SherryFitz had been refusing to mark houses as Sale Agreed until funds were in place because so many were falling through/people were agreeing on multiple properties and then pulling out depending on which chain completed first…

One can only assume that someone had been waiting for a mortgage exemption in January in order to complete?


Criticisms of the Central Bank’s mortgage restrictions always focus on the FTBs trying to get on the “property ladder” but the real impact of the restrictions is felt at the top end of the market. No wonder the big estate agents hate the CBI.

In her review of the top sales of 2018, M. Lyons of IT is forced to admit that big sales were few and far between. … -1.3719765

Prices for big country houses are falling. In addition to the mortgage limits, I think real demand for these houses is falling. Who wants a rambling old pile miles from anywhere? Kinsale seems to be a market of its own.

The biggest apartment sale was this strange entry:

Anyone guess why this transaction took four years?

The Examiner (as I would expect) does a much better job reporting sales in Munster but blames “a dip in economic confidence” for “a definite lull” in the “mid- to upper end of the market”. No explanation as to why the lower end of the market is untouched by “economic confidence”. No sign yet on the property register of those 2M+ Euro deals in Kinsale.
But credit to Tommy Barker for warning his readers: … 94401.html



There still seems to be a lot of unreality out there. There are currently 4959 properties up for sale in Dublin. The median sale price of these is 390k, last year the median selling price over the year was 338k (in December it was 325k). Only 2087 (42%) of the properties are offered at 350k or less - 1484 (30%) at 300k or less. The PPR is running at about 350 sales a week, the Myhome listings seem to be increasing at about 100 a week - so a hundred more homes added than are sold - I wouldn’t find that unusual at this time of year - sales should start to increase from April to July and will be reflected in the PPR roughly 2 months later.

The people I hear looking for houses are generally not looking in Dublin anymore - even the guy who thought he could see value in places like Churchtown is pissed off because prices just aren’t moving - his limit is 500k and he missed out on a couple of places last year - he’s going to sit tight where he is and do another year of saving. People in ‘ordinary’ jobs don’t want mortgages much over 300k - 1200 a month for 30 years is like committing yourself to an expensive rental for life with the risk associated with increasing mortgage rates and potential negative equity - plus you haven’t even started to pay for kids yet. Their parents have filled them in on what happened the last time around - wages are not that much higher and yet prices are nearly the same and it’s getting harder and harder to believe that the current interest rates will be around for ever.

The slow collapse in the stock market is having a jittery effect as well - I think it might be a significant factor in the high end market - not because wealthy people are short of money - they are sitting on cash waiting for a crash to pile in to stocks (and property) again - they are not going to buy property when it’s value is peaking.


Rent crisis: First sign of slowdown despite record prices

Based on Mr. Lyons’ latest daft report on rental prices.

w/ infographic


This is really bad news for those living in rent pressure zones.

The knock on effect is that the government will struggle to justify Dublin as a rent pressure zone if rates are rising only 2 to 3% p.a.

And if the rent pressure zone falls away, Landlords will be able to align their rents with current rates.


It will be interesting to see if Eoghan Murphy extends the time for the RPZ limits to be in effect, I would be quite surprised if he (or whoever is in the hotseat at the time) doesn’t extend.


Fun times ahead - IMO it will be near impossible to extend the limit if Dublin were to fall outside the definition of a RPZ.


Surely this is exactly how they will justify the extension of the Dublin rent pressure zone. It’s clearly working!!!


A major effect of the Central Bank rules has been to compress the Dublin market into the 200-400 K. price. Almost half the properties (2298 of 4783) are priced between 200K and 400K. The bell curve is totally skewed. Below that level, there is nothing except shoebox apartments. Above that, there is a steep drop in supply and little improvement in quality until you get over 1 M. . 600 - 700K will get you a 3 bed semi in OK locations. A lot of people will “settle” (i.e. swallow their bitter anger) for a decent house in Kildare/Meath but their commute be increasingly hellish as developers get back in business.

The bell curve has a long tail but there’s almost nothing over 3 Million. Quite a contrast to the boom years when practically everything around Ailesbury Rd. and Killiney was asking double digits. Most houses today are as overpriced as they were in the boom but, in terms of price per sq. ft, the finest houses in Dublin are about the same price as a basic 3 bed semi in a decent location. At least, after our next crash, we won’t need NAMA 2.0 to deal with massive loans for family homes. 8DD


The big ease…

December saw a drop of 0.1%


It is November 2006 and the early days of the Current Public sentiment…affair

M Keenan writes an article saying Dublin prices are falling by up to €4,500 a month.

March 25th 2019 and M Keenan is still writing articles. This time claiming that Dublin prices may be falling at €7,500 a quarter, since December 2018.

The prices of average second-hand homes have largely frozen for the first quarter of 2019 throughout Ireland with most counties showing prices unchanged since the beginning of the year.

The big freeze in house prices in 2019 is being attributed to property prices in many areas hitting the Central Bank-enforced mortgage lending ceilings.

Other factors include a lack of cash buyers in some locations, and a proliferation of new homes in other areas affecting the values of existing properties.

Meanwhile, increased red tape means there has been a slow-down in applying for mortgages and selling homes.

While static prices were the norm - including in Cork, Galway and Limerick cities - prices dipped in some areas.

In Dublin city, the price of a three-bed semi is down 1.75pc (€7,667) since December, while the same home in the south of the county is down 1.8pc (€7,500).

The biggest fall in prices was seen in Louth, where they dropped 3.6pc (€7,500) thanks largely to extensive new home developments.

However, most parts of the country saw prices stagnate in the first quarter of the year, including in Carlow, Cavan, Clare, Waterford, Wexford, Kilkenny, Laois, Offaly and north Co Dublin.