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Thread: Property post Covid

  1. #49
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    Quote Originally Posted by JohnnyBoxer View Post
    Property is going be 30% less soon, in a falling job market
    Do you ever make an optimistic statement?

  2. #50
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    Coronavirus: Banks expected to restrict mortgage lending over pandemic price fears
    Central Bank deputy governor says there is a huge level of ‘uncertainty’ in market

    https://www.irishtimes.com/news/cons...ears-1.4238223
    Life is uncertain - eat the Dessert first!

  3. #51
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    Saw that. We were offered an exception but declined. Glad we didn't now. Strange times indeed. There was quite a substantial difference in the amounts being offered when the exception was taken into account.

  4. #52
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    basically, we have put the buying thing to bed.

    Lots more to be getting on with.

  5. #53
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    Wow, just read through 4 pages of replies, ye are a helpful lot aren't ye. There seems to be a common tread running through most of the replies that really does cut the mustard for this prospective house buyer.
    Buy the best you can afford for the least amount of dosh possible. Buy in the best area that ye are happy to settle and live in. House prices rise and house prices fall in cycles the world over but the value of good property keeps even if it does take a little time to sell on at times. Speaking of crystal balls, look at property prices in Dublin since 2008, at the height of the market they said after the crash we would never see prices so high again.....look at them pre covid.....
    Yes, we will see a blip after all this,but if your in it for the long haul what does it matter, people that went into negative equity are back positive again. You are in a fortunate place jobs wise, lucky you, your step onto the property ladder soon may be blessed with good fortune if you still have mortage drawdown approval in place (check and make sure, alot have been pulled).
    Get on with your life and enjoy it, keeping one eye on the market ready to pull the trigger on the right one when it comes along.
    I expect it wont take too long.

    PS. Alot of the general advise given is relevant both here and across the pond, its the specifics that are different over here thats all....due to Irish ways and Irish laws.

  6. #54
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    We've been selling/buying for just over a year now (had a wanker of an estate agent who royally fucked it up for us!)
    Our house sale fell through the 2nd week in March, just before lockdown, we were due to move end March.

    We'll be putting our house back on the market in a month or so (have to remodel the kitchen)

    My observations for what they're worth are that many of the houses we looked at last May 2019 are still on the market, still at the same price. Normally, the rule is that if you haven't had an offer in the first 6 weeks (albeit a low offer) there's something wrong, usually the price. The problem seems to be that owners are deciding what price they want, and are refusing to budge, possibly because they can't and possibly because they don't want to move if they have to drop the price.

    House prices don't seem to be coming down. 3 houses have gone up for sale on my road in the last few weeks for the same prices they were selling pre covid.

    We are selling in South County Dublin, trying to downsize the house and increase the land and garage space by moving slightly outside Dublin (but not too far as I don't want a long commute to work)

    Property market here and in the Uk are not comparable. Brexit will still be having an impact in the Uk that won't be affecting us in cities here. I know it's caused a huge amount of uncertainty on country house sales here as many houses (particularly in Cork/Kerry are bought by people from Uk wanting to retire here). We're also selling a house in North Kerry and the estate agents told us that the arse had completely fallen out of the market due to Brexit, as many people wanting to retire here were afraid that their pensions would be too badly affected.

  7. #55
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    Property post Covid

    Thanks Mide,

    Interesting observations. My partner is currently on the Covid payment scheme, so we have effectively put any serious investigation on hold until the end of August. We are looking at properties though and the nice ones get snapped up very quickly, whilst the over priced ones just Sit there.

    Saw a nice house last week which is now sold. It had a beautiful mature garden and lots of charming additions within the house. Not quite turn key condition but close. Five doors down the road is another house. No extension, garden just a green space of cut weeds, nothing done in the house. Cost? Just 20k less.

    I don’t know if it’s greed, bad advice from the estate agents or just pure delusion but a lot of prices are way off.

    Best of luck with the sale and move!

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