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 Post subject: Re: 2Pack will call the bottom now!
PostPosted: Sat Sep 22, 2018 12:16 pm 
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Single Home Owner

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 Post subject: Re: 2Pack will call the bottom now!
PostPosted: Sat Sep 22, 2018 9:59 pm 
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Of Systemic Importance

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Skippy 3 wrote:
The second derivative change is the important one

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 Post subject: Re: 2Pack will call the bottom now!
PostPosted: Mon Sep 24, 2018 9:04 am 
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Migrant

Joined: Sep 20, 2018
Posts: 3
Having been looking to buy around South Dublin for the last 2 years and being outbid on every single property I can
say from experience that there is definitely a dip rather than plateau happening around there.

Especially in the 450-600k price range

Very little attendance at viewings most houses are sitting on the market for a good few months.
I have noticed price drops on multiple properties that would have been selling 20% over asking at the start of the year.

I think a lot of it might be down to the fact that most bank exemptions are wiped out for the year and also
the EAs were getting a bit too aggressive in their pricing.


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 Post subject: Re: 2Pack will call the bottom now!
PostPosted: Mon Sep 24, 2018 9:21 am 
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Under CAB Investigation

Joined: Feb 1, 2008
Posts: 2900
Location: God's Country
IgnatiusJReilly wrote:
Having been looking to buy around South Dublin for the last 2 years and being outbid on every single property I can
say from experience that there is definitely a dip rather than plateau happening around there.

Especially in the 450-600k price range

Very little attendance at viewings most houses are sitting on the market for a good few months.
I have noticed price drops on multiple properties that would have been selling 20% over asking at the start of the year.

I think a lot of it might be down to the fact that most bank exemptions are wiped out for the year and also
the EAs were getting a bit too aggressive in their pricing.



Today there's a house with a for sale sign in the window, giving details for contacting the owner directly, this indicates EAs are not getting the results, sellers are starting to rush for the exits, vendor fear on the rise again


Last edited by Inis Man on Mon Sep 24, 2018 4:35 pm, edited 1 time in total.

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 Post subject: Re: 2Pack will call the bottom now!
PostPosted: Mon Sep 24, 2018 1:33 pm 
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Of Systemic Importance

Joined: Nov 4, 2011
Posts: 6078
Location: SthDub
The slowdown in Dublin continues

New data shows house prices nationwide flatline - with a semi-D now beyond reach for ordinary families
House prices are flatlining in Dublin and Ireland's other cities
In postcoded Dublin, the price of average three-bed semi showed almost no increase (0.1pc) in the past three months
https://www.independent.ie/business/per ... 46952.html
Quote:
Over the year, South County Dublin recorded a rise of just 2.4pc with the North County hitting 7.5pc - largely because there are more relatively affordable homes there.

Overall, the price of a semi-detached house in Dublin has increased by just 2.7pc over the year, with the inability of potential buyers to get a mortgage keeping prices down. A semi in the capital now averages €443,333, which is well above the generally accepted maximum borrowing range of up to €320,000 for a dual-income couple with average salaries...
...There is no doubt that the Central Bank [mortgage lending] rules are having an effect in the market, and are achieving what they set out to do in terms of keeping a lid on prices," said REA spokesperson Barry McDonald.


The REA spokesperson was on Newstalk Breakfast this AM calling for the CB to relax it's lending rules because prices were gone out of reach of the average person/couple XX


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 Post subject: Re: 2Pack will call the bottom now!
PostPosted: Mon Sep 24, 2018 2:58 pm 
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Too Big to Fail
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Joined: Aug 21, 2009
Posts: 4547
Location: Mesopotatia
FreeFallin wrote:
The slowdown in Dublin continues

New data shows house prices nationwide flatline - with a semi-D now beyond reach for ordinary families
House prices are flatlining in Dublin and Ireland's other cities
In postcoded Dublin, the price of average three-bed semi showed almost no increase (0.1pc) in the past three months
https://www.independent.ie/business/per ... 46952.html
Quote:
Over the year, South County Dublin recorded a rise of just 2.4pc with the North County hitting 7.5pc - largely because there are more relatively affordable homes there.

Overall, the price of a semi-detached house in Dublin has increased by just 2.7pc over the year, with the inability of potential buyers to get a mortgage keeping prices down. A semi in the capital now averages €443,333, which is well above the generally accepted maximum borrowing range of up to €320,000 for a dual-income couple with average salaries...
...There is no doubt that the Central Bank [mortgage lending] rules are having an effect in the market, and are achieving what they set out to do in terms of keeping a lid on prices," said REA spokesperson Barry McDonald.


The REA spokesperson was on Newstalk Breakfast this AM calling for the CB to relax it's lending rules because prices were gone out of reach of the average person/couple XX


Good thing we didn't get this news after the budget. Now we can get on this straight away with some house buying incentives.

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 Post subject: Re: 2Pack will call the bottom now!
PostPosted: Mon Sep 24, 2018 4:13 pm 
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Old Time Landlord

Joined: Dec 5, 2007
Posts: 386
FreeFallin wrote:
The slowdown in Dublin continues

The REA spokesperson was on Newstalk Breakfast this AM calling for the CB to relax it's lending rules because prices were gone out of reach of the average person/couple XX



How about they tighten them and curb the vulture funds so that prices fall and come back into reach of First Time Buyers - that way there is a snow balls chance in hell my kids will be able to live in Ireland when I'm older and greyer


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 Post subject: Re: 2Pack will call the bottom now!
PostPosted: Tue Sep 25, 2018 11:29 am 
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Property Magnate

Joined: Oct 12, 2014
Posts: 632
Location: Dublin
cjs wrote:
FreeFallin wrote:
The slowdown in Dublin continues

The REA spokesperson was on Newstalk Breakfast this AM calling for the CB to relax it's lending rules because prices were gone out of reach of the average person/couple XX



How about they tighten them and curb the vulture funds so that prices fall and come back into reach of First Time Buyers - that way there is a snow balls chance in hell my kids will be able to live in Ireland when I'm older and greyer

That’s treasonous talk!! :-GC

We’re going to the moon, don’t you know?
This flattening of prices must stop - we need no CBI limits! Let’s keep pumping gas into the explosion until the ensuing fireball consumes us all.
Again.
For the second time in about 15 years.

This. Is. Ireland. :sick:


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 Post subject: Re: 2Pack will call the bottom now!
PostPosted: Sat Sep 29, 2018 10:07 am 
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Old Time Landlord

Joined: Jun 7, 2011
Posts: 375
Irish banks tumble on signs of slowing house price growth
Housebuilders also hit as investors hold back from market


https://www.irishtimes.com/business/mar ... -1.3645130


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 Post subject: Re: 2Pack will call the bottom now!
PostPosted: Sat Sep 29, 2018 11:07 am 
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Neo Landlord

Joined: May 21, 2017
Posts: 233
KOR101 wrote:
Irish banks tumble on signs of slowing house price growth
Housebuilders also hit as investors hold back from market


https://www.irishtimes.com/business/mar ... -1.3645130


Typical newspaper reporting of share prices: each day's shift is explained by whatever was on the front-page that morning, even if that news was entirely predictable to everyone in the market (i.e. house prices are approaching the ceiling set by the Central Bank).

Even now, with newspapers full of 10th. anniversary guff about the collapse of bank shares in 2007, I saw no effort to explain why bank shares are well down from their recent highs. Why were bank shares not booming this Spring alongside house prices?

No one seems to connect this with the politicians' resurrection of trackers :x - just as the banks seemed to be coming to grips with arrears. Brexit risks, which have increased rapidly this month, are a much more likely explanation for recent weakness but it suits the media to pressure the Central Bank. Will the leadership of the Central Bank scupper their chances of big jobs in Europe by allowing another Irish property bubble?

Although their share price fell slightly less, AIB will be more worried than BoI because Euro 23.26 M. is a hefty offload in a single day. Presumably, some heavy-hitter has decided to quit.


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