This site is supported by the advertisements on it, please disable your AdBlocker so we can continue to provide you with the quality content you expect.

The Property Market

Discussion in 'Current Affairs' started by Captain_Morgan, Aug 20, 2013.

  1. byrnetred

    byrnetred
    Expand Collapse
    Well-Known Member

    Joined:
    Jun 25, 2007
    Messages:
    5,176
    Likes Received:
    74
  2. babbsnads

    babbsnads
    Expand Collapse
    Well-Known Member

    Joined:
    Jan 6, 2010
    Messages:
    14,012
    Likes Received:
    3,391
  3. edcarroll02

    edcarroll02
    Expand Collapse
    Well-Known Member

    Joined:
    Jul 18, 2007
    Messages:
    12,267
    Likes Received:
    2,381
  4. babbsnads

    babbsnads
    Expand Collapse
    Well-Known Member

    Joined:
    Jan 6, 2010
    Messages:
    14,012
    Likes Received:
    3,391
    Yep,we're a fucking basket case. I can literally see houses out of my window now that are up for 465k because they're in D15.They'd be not much more than 300k if they were a couple of hundred yards closer.
     
  5. Dub13

    Dub13
    Expand Collapse
    Administrator
    Staff Member

    Joined:
    Jun 16, 2007
    Messages:
    19,371
    Likes Received:
    1,720
    I cant believe people staying our for days to buy a new house.
     
    babbsnads likes this.
  6. edcarroll02

    edcarroll02
    Expand Collapse
    Well-Known Member

    Joined:
    Jul 18, 2007
    Messages:
    12,267
    Likes Received:
    2,381
    Having recently been looking to buy a house in Dublin 15 I can honestly say that I do understand, it's a mess out there. The second hand market is all ex rentals which need massive work and the supply of decent family homes just isn't there.

    Babbs I know exactly the homes you're talking about, they come with management fees too. I walked away from them about a year ago when they went from 350 to 400 for no reason in the second phase. Grand houses but nothing special.
     
  7. babbsnads

    babbsnads
    Expand Collapse
    Well-Known Member

    Joined:
    Jan 6, 2010
    Messages:
    14,012
    Likes Received:
    3,391
    Jaysis Ed,we could of been neighbours.Im not going to lie,I'm a bit hurt that you didn't think living near me was worth that extra 50k.
     
    Garrett, honald_tdb, GaryMc and 2 others like this.
  8. edcarroll02

    edcarroll02
    Expand Collapse
    Well-Known Member

    Joined:
    Jul 18, 2007
    Messages:
    12,267
    Likes Received:
    2,381
    I just couldn't handle the stress of the daily arguments, if I wanted Lyons tea you'd have wanted Barry's!
     
  9. Garrett

    Garrett
    Expand Collapse
    Well-Known Member

    Joined:
    Jun 18, 2007
    Messages:
    18,138
    Likes Received:
    1,397
    So,

    We've a different party ruling the country, we've apparently learnt vital lessons from the last recession and property crash, and yet we're doing all the exact same things all over again:

    - not building enough houses for a young and expanding population
    - not planning and developing our infrastructure in conjunction with housing needs and development
    - permitting property prices to rocket up without any controls in place

    .... what was it Einstein apparently said about insanity ?


    I'm genuinely sympathetic to anyone trying to buy a place to live as once again, it's a massive challenge.

    Best I can suggest is to grasp the nettle, as all signs are that property prices won't be coming down in the next few years and ultimately, everyone needs somewhere to live so better to try and pay your own mortgage, than someone elses. If buying a starter home and hoping to trade up in a few years, buy where there's already a rail line of some sort, or at worst, near one of the proposed new Metro lines. This way, you should have some sort of reliable public transport in years to come, or the property will offer some level of attraction to tenants if you ever need to rent it out etc.

    Buying in a farmer's field in the ar$ehole of nowhere makes no more sense now than it did when people were buying in places like Mulingar or Longford 14 years ago, unless you happen to have a very good reason to want to live in that location for the long term.
     
  10. Mico

    Mico
    Expand Collapse
    Well-Known Member

    Joined:
    Oct 16, 2011
    Messages:
    2,881
    Likes Received:
    328
    150 grand in price difference makes a lot of sense.
    I live in am estate on the outskirts of town. Houses are hitting the 270 mark. Nearly a rise of 100k in less than 12 months.
    My friend is buying a house in the country(not a flashy country area) for about 120k on am acre site and maybe a 20 minute drive from me.

    Sorry for bringing up old post. Just came across it.
     
  11. Garrett

    Garrett
    Expand Collapse
    Well-Known Member

    Joined:
    Jun 18, 2007
    Messages:
    18,138
    Likes Received:
    1,397
    Not at all, it's every bit as relevant today as it was two months ago mate.

    The purchase price is important, sure....

    As I said above, it makes no sense though unless you have a very good reason to want to live in that location for the very long term.

    That 20 minute journey that you refer to, imagine if he'd to make that journey both ways, 5 days a week for the next 20 years ... much time is that and what's the cost to him, if you've to put a price on it ?

    If you work locally, then it's great, happy days. But if you don't, then you've signed up for a longer commute to work every day for many years to come.

    Prices go up and prices go down. If you look at what happened to prices last time, they rocked up in the boom and collapsed in the recession, both in cities and in rural Ireland, but there was one big and important difference... houses in the cities and large towns could be sold in reasonable time frames, but not in much of rural Ireland where the market essentially froze for a couple of years - so that meant anyone who needed to sell, was stuck were they were. There were documentaries on tv about this years ago, with people buying in rural Ireland as a "starter home" and thinking they could trade up, but then found they couldn't.

    Then think about day to day resources, street lights, broadband, access to shops, schools, decent water system, road network etc. Not as easy to come by in rural Ireland as they are in the cities.

    There's a premium to be paid for living in a town or city and I know that money doesn't grow on trees, but as I said above, it makes no sense to live in rural Ireland unless you've a very good reason to live there for the long term.
     
    liver06 likes this.
  12. Mico

    Mico
    Expand Collapse
    Well-Known Member

    Joined:
    Oct 16, 2011
    Messages:
    2,881
    Likes Received:
    328
    This house is located close to all amenities.
    I agree with the commute to work, it's maybe 20 to 25 mins for both people.
    Where I am less than two minutes drive or about 6 minutes walk(not that I walk).
    This house is seen as a "starter" house and I fully agree with your opinion of been stuck with it. It's probably more fact than opinion and it's not something I thought would have been an issue due to the amount of rural properties looked at and bid on. There seemed to be many bidders on all properties and hence increasing all prices. But as you say, we are probably entering a bit of a boom so when things go not so well it is harder to shift a property more rural but there's also the factor of who is out there and what they are looking for
     
  13. edcarroll02

    edcarroll02
    Expand Collapse
    Well-Known Member

    Joined:
    Jul 18, 2007
    Messages:
    12,267
    Likes Received:
    2,381
    20-25 minute commute is nothing to be honest, if you can live and work outside of Dublin City centre then you're absolutely laughing, it's an absolute joke of a situation for both renters and people looking to buy in the city right now. The commuter towns are getting hit hard again as people are forced to move further and further out. New house prices seem to be jumping up at ludicrous amounts, in my estate I've seen houses go up by more than €100K since this the start of last year with no change in the spec or layout of the house.

    I think what Garrett is referring to is anyone that is pushing themselves out of Dublin and it's normal commuter belts into the likes of Portloais or that and are commutting daily. I know of a few that do it and I don't know how they survive the stress of it. I work with a chap in town that commutes ever day from Athenry in Galway, it's not a decision he made in buying a house, he was already living there and took the job in Dublin so was seemingly okay with the whole thing.
     
    Mico likes this.

Share This Page