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House prices in your area.
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By *un4too OP Couple
over a year ago
north cork |
Are we setting ourselves up for another crash? House prices in my area have gone up stupidly again. A house this time last year was €170k, the very same house still hasn't been sold but has been re-listed for €199k. We could buy in the next 12 months if we really wanted to but think we will hold off for another 3 to 4 years when interest rates will have gone up and demand met. The average price here is 200k. Young people seem to be put under serious pressure to buy a house. |
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While the jump in price is big its still nothing close to living in dublin or surrounding counties. A very average house in wicklow in any estate has a starting price of €300,000 and god only knows how high it will go at auction. Would not like to be in thst position again. Might just move to cork 
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By *un4too OP Couple
over a year ago
north cork |
"While the jump in price is big its still nothing close to living in dublin or surrounding counties. A very average house in wicklow in any estate has a starting price of €300,000 and god only knows how high it will go at auction. Would not like to be in thst position again. Might just move to cork
"
Cork city is heavily priced too though. Average 260k for a small 3 bed.
We are in a commuter town so its ok. I don't know how people in dublin or surrounding areas do it at all. Even Portlaois is creeping up now given how easy it is to get to Dublin. We make a rod for our own backs |
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By *un4too OP Couple
over a year ago
north cork |
"i know In my particular area people are mad to rent but lack of accom and prices are stopping them. imo a young person would want to be stone mad to buy a house "
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The pressure on young people from friends and family to buy is crazy. Theres not a day goes by without someone saying to me "oh would you not buy?"
Can well affird to buy but not willing to pay upwards of 50k of what the house is really worth.
House im in is not for sale but ive asked him about buying it off him, he wants 330k, auctioneer said its a 270k house.
60k plus interest is 80k. Feck that |
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"While the jump in price is big its still nothing close to living in dublin or surrounding counties. A very average house in wicklow in any estate has a starting price of €300,000 and god only knows how high it will go at auction. Would not like to be in thst position again. Might just move to cork
Cork city is heavily priced too though. Average 260k for a small 3 bed.
We are in a commuter town so its ok. I don't know how people in dublin or surrounding areas do it at all. Even Portlaois is creeping up now given how easy it is to get to Dublin. We make a rod for our own backs"
Where we live there is no rental market as in there hasn't been anything listed in 4 months. Mid sized town but not a million miles from dublin. Portlaois is a location a lot of people i work with have bought in. House prices are 40% cheaper than here even if its an hour each way to work. |
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Yep another property crash awaits..anybody whos thinking of buying should save their money and wait a few years until it goes bang again..it wont be as bad as last time but a good saving will be made by those who wait  |
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"Yep another property crash awaits..anybody whos thinking of buying should save their money and wait a few years until it goes bang again..it wont be as bad as last time but a good saving will be made by those who wait "
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I 100% agree with that...
"History does not repeat itself but it always rhymes.."
Anyone looking to buy should put a few quid away and when the house prices fall (peaks and troughs), grab the opportuntity with both hands  |
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By (user no longer on site)
over a year ago
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I think now is the time too buy as house prices will be set to rise for the next 4-5 years before the government can afford too build houses and planning permission is passed.In 5 years i will have paid 72k in rent why not put that into a house now for when house prices crash eveyone will jump and buy houses then.....if they drop in 5 year..which i dont think they will as they are not rising fast enough. |
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By *un4too OP Couple
over a year ago
north cork |
"I think now is the time too buy as house prices will be set to rise for the next 4-5 years before the government can afford too build houses and planning permission is passed.In 5 years i will have paid 72k in rent why not put that into a house now for when house prices crash eveyone will jump and buy houses then.....if they drop in 5 year..which i dont think they will as they are not rising fast enough."
I wouldn't agree with you there about buying now.
At the moment the interest rates are reasonable but you can be sure they'll rise, making your payments go up. People buy for what they can afford now, not what they can afford in 5 or 10 years.
Last crash being the perfect example |
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House prices will continue to risee until supply is sorted out... however, if people keep paying the inflated prices the prices will continue to rise.
A product is only worth what someone is prepared to pay for it.
It was a policy decision of FG to limit supply to increase prices to get their support Base out of negative equity.
The prices will rise until something shocks the market. IE: a collapse of a bank or rapid supply of houses |
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By (user no longer on site)
over a year ago
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"I think now is the time too buy as house prices will be set to rise for the next 4-5 years before the government can afford too build houses and planning permission is passed.In 5 years i will have paid 72k in rent why not put that into a house now for when house prices crash eveyone will jump and buy houses then.....if they drop in 5 year..which i dont think they will as they are not rising fast enough.
I wouldn't agree with you there about buying now.
At the moment the interest rates are reasonable but you can be sure they'll rise, making your payments go up. People buy for what they can afford now, not what they can afford in 5 or 10 years.
Last crash being the perfect example"
True but the problem being during the last crash i could'nt get a mortgage and even i could have i would be up against top of the ladder people who buy up a couple of houses at a time. |
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By *oghunter33Woman
over a year ago
on the hill NordWest of |
It's the same problematic like on the other thread about the cervical cancer screening scandal, ff and fg have done nothing to prevent another boom and crash happening, nobody was held responsible, no new laws were put in place to prevent the market heating up again, protected the rich and wealthy and fell asleep on the steering wheel regarding the housing market, the homeless crisis etc etc. And as long as there are peeps around claiming that fg and ff are the least worst of them all nothing will change in this country.... |
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By (user no longer on site)
over a year ago
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"Prices are crazy I've friends who are married living with there parents because they can't afford to buy somewhere at moment .  lots in that situation "
to be fair I think they should waited to get married till after they got themselves a house like don't understand the logic one my friends is living with his girlfriends parents and waiting till they get there own place to purpose to her which I think is best way to do it |
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By *lay2018Couple
over a year ago
westmeath & roscommon. |
the rental is crazy here too. Asked to do some work for a cple so they could rent their basic house out for 800euro month. All they did was complain about the last crash and yet on the other hand, they are happy to hike the rent up even more so they can cream that extra bit of money out of the renters. Its the greed mindset that has ruined this country and wont be changing for the good anytime soon
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By (user no longer on site)
over a year ago
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My son is biting the bullet and buying now, as rent on his current house is being hiked again due to the increasingly high demand for larger properties here in Carmarthenshire. Despite the higher mortgage rates, in the longer term buying is definitely the more sensible option, securing a place on the ladder...prices here are still rising (at a slower rate than last year, but still heading upwards)! It’s all madness. |
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"Are we setting ourselves up for another crash? House prices in my area have gone up stupidly again. A house this time last year was €170k, the very same house still hasn't been sold but has been re-listed for €199k. We could buy in the next 12 months if we really wanted to but think we will hold off for another 3 to 4 years when interest rates will have gone up and demand met. The average price here is 200k. Young people seem to be put under serious pressure to buy a house. "
If there was a proper rental market with institutional and long term investors then maybe renting would work.
I doubt holding off and renting for 4 years would be worth it tbh
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By (user no longer on site)
over a year ago
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"They are forecasting the property bubble to burst later this year, hold off if you can
I was just about to say similar.
I expect things to go bang again sooner than alot of people think. "
Wonder will rents collapse too or will they remain high? |
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"They are forecasting the property bubble to burst later this year, hold off if you can
Who are “they”?
I’ve heard contraction, I’ve heard slow down. A burst is unlikely."
Non scare tactics
Big big bang
Mass lay offs already under way
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By *hyeyesMan
over a year ago
meath |
"They are forecasting the property bubble to burst later this year, hold off if you can
Who are “they”?
I’ve heard contraction, I’ve heard slow down. A burst is unlikely."
U should buy shares in Irish Residential Properties REIT
The share price for there 4k apartments in Dublin is trading at 35% under the current 'market valuation '
Lol |
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"They are forecasting the property bubble to burst later this year, hold off if you can
Who are “they”?
I’ve heard contraction, I’ve heard slow down. A burst is unlikely.
Non scare tactics
Big big bang
Mass lay offs already under way
"
Mass lay offs?? I could name 10 small businesses screaming for staff |
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"They are forecasting the property bubble to burst later this year, hold off if you can
Who are “they”?
I’ve heard contraction, I’ve heard slow down. A burst is unlikely.
Non scare tactics
Big big bang
Mass lay offs already under way
Mass lay offs?? I could name 10 small businesses screaming for staff"
Big InterNationals |
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"You never see a house" for sake " anymore. There all " auction " ..yes the for sale sign might be up but they don't sell houses..they auction them off."
That used to be a telltale sign that it was a bank sale.
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By *asual777Man
over a year ago
i travel all over |
The demand is too high and the supply is too low for a full on collapse . A small correction very likely . Recent relaxations in lending rules don’t help the bubble to burst either .
We are despite the crazy prices only 1 per cent higher then Celtic tiger levels and that was 15 years ago . The U.K. in contrast is averaging 42 per cent higher prices than pre crash |
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"Just a fools advice anyone on a tracker get the F off in a hurry and get yourselves a good fixed rate if you have equity you can get a good deal "
This was good advice this time last year … rates will peak most likely this year and if you lock in now you missed the good deals and will be stuck higher than the market when it starts to drop again |
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By (user no longer on site)
over a year ago
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"Just a fools advice anyone on a tracker get the F off in a hurry and get yourselves a good fixed rate if you have equity you can get a good deal
This was good advice this time last year … rates will peak most likely this year and if you lock in now you missed the good deals and will be stuck higher than the market when it starts to drop again "
Not if you have equity there’s still deals to be had if your still on a tracker |
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By (user no longer on site)
over a year ago
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"Just a fools advice anyone on a tracker get the F off in a hurry and get yourselves a good fixed rate if you have equity you can get a good deal
This was good advice this time last year … rates will peak most likely this year and if you lock in now you missed the good deals and will be stuck higher than the market when it starts to drop again
Not if you have equity there’s still deals to be had if your still on a tracker "
Drop again I’m loving your enthusiasm
Hopefully they will but don’t hold your breath |
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By (user no longer on site)
over a year ago
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No such thing as a property bubble any more, just a market where demand still outstrips supply, both for rental and for sales. Those with property portfolios not mortgaged to the hilt will win out, as it’s a demand for roofs over heads that keeps rental prices rising steadily through the years...and I don’t think there are many people giving up houses for tents. |
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"So is it a good time or bad time to sell all those apartments I bought in 2011?
So your 37 now in 2011 you bought all these homes
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I just turned 25 and my insurance came down, so I had a few bob to spare. |
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"Holy fk, how much was your insurance that you managed to buy a bust of property with the few bob left over?
What the hell are you insuring ???"
Ah sure those days the insurance for a young lad was extortion  |
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By (user no longer on site)
over a year ago
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"Holy fk, how much was your insurance that you managed to buy a bust of property with the few bob left over?
What the hell are you insuring ???
Ah sure those days the insurance for a young lad was extortion "
Ah honesty night but |
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"While the jump in price is big its still nothing close to living in dublin or surrounding counties. A very average house in wicklow in any estate has a starting price of €300,000 and god only knows how high it will go at auction. Would not like to be in thst position again. Might just move to cork
Cork city is heavily priced too though. Average 260k for a small 3 bed.
We are in a commuter town so its ok. I don't know how people in dublin or surrounding areas do it at all. Even Portlaois is creeping up now given how easy it is to get to Dublin. We make a rod for our own backs
Where we live there is no rental market as in there hasn't been anything listed in 4 months. Mid sized town but not a million miles from dublin. Portlaois is a location a lot of people i work with have bought in. House prices are 40% cheaper than here even if its an hour each way to work. "
But that's going to cost ya €60-80 a week in fuel to commute? And sometimes x 2 if two people working
If interest rates increase too much and house prices drop builders will stop building so demand won't be met. |
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"Yep another property crash awaits..anybody whos thinking of buying should save their money and wait a few years until it goes bang again..it wont be as bad as last time but a good saving will be made by those who wait "
Only problem there is a lot of those people are paying 15grand or mitre annually on rent .wait 3 years for prices to come down and you've forked out 45 grand on rent that could've come of your mortgage...it's hard to call though |
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By (user no longer on site)
over a year ago
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"Last thing to do is get off a tracker ....savings are very low if any at all by the time you pay legal bills "
There are no legal fees.all you are doing is changing the t&c’s of your loan
That doesn’t require a solicitor |
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"Are we setting ourselves up for another crash? House prices in my area have gone up stupidly again. A house this time last year was €170k, the very same house still hasn't been sold but has been re-listed for €199k. We could buy in the next 12 months if we really wanted to but think we will hold off for another 3 to 4 years when interest rates will have gone up and demand met. The average price here is 200k. Young people seem to be put under serious pressure to buy a house. "
Yip prices are stupid, don't know about another crash with the whole housing "crisis" and the influx of people in the last few months I think prices will stay around the same.
If there is a crash that's the time to buy if you can,I'm kicking myself I didn't buy that time but I wasn't in that headspace.
I waited until prices went up to buy
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By *og-ManMan
over a year ago
somewhere |
"Last thing to do is get off a tracker ....savings are very low if any at all by the time you pay legal bills
There are no legal fees.all you are doing is changing the t&c’s of your loan
That doesn’t require a solicitor "
There are if you change banks...should have said that |
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By (user no longer on site)
over a year ago
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"Last thing to do is get off a tracker ....savings are very low if any at all by the time you pay legal bills
There are no legal fees.all you are doing is changing the t&c’s of your loan
That doesn’t require a solicitor
There are if you change banks...should have said that "
I agree that the last thing to do was get off a tracker before 2022
But two increases from October to December made up our minds
But with another 1%-1.5% increase coming before March that’s just why we got off
If we didn’t ours would be plus 300 than normal and with future increases it could be more
Why would you tell people not to get off
S
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By *og-ManMan
over a year ago
somewhere |
"Last thing to do is get off a tracker ....savings are very low if any at all by the time you pay legal bills
There are no legal fees.all you are doing is changing the t&c’s of your loan
That doesn’t require a solicitor
There are if you change banks...should have said that
I agree that the last thing to do was get off a tracker before 2022
But two increases from October to December made up our minds
But with another 1%-1.5% increase coming before March that’s just why we got off
If we didn’t ours would be plus 300 than normal and with future increases it could be more
Why would you tell people not to get off
S
"
Because most people have very little left on a tracker mortgage...they havent been sold in 15 years
For the last 11 yrs your rate has been around 1% so you were one third of other rates and saved a fortune
If you give up you'll take a fixed rate for a few years.....god only know what the rates will be like then but you won't get your tracker back when the few years is up and the bank coukd charge what they like ....you can't predict the savings |
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By (user no longer on site)
over a year ago
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"Last thing to do is get off a tracker ....savings are very low if any at all by the time you pay legal bills
There are no legal fees.all you are doing is changing the t&c’s of your loan
That doesn’t require a solicitor
There are if you change banks...should have said that
I agree that the last thing to do was get off a tracker before 2022
But two increases from October to December made up our minds
But with another 1%-1.5% increase coming before March that’s just why we got off
If we didn’t ours would be plus 300 than normal and with future increases it could be more
Why would you tell people not to get off
S
Because most people have very little left on a tracker mortgage...they havent been sold in 15 years
For the last 11 yrs your rate has been around 1% so you were one third of other rates and saved a fortune
If you give up you'll take a fixed rate for a few years.....god only know what the rates will be like then but you won't get your tracker back when the few years is up and the bank coukd charge what they like ....you can't predict the savings "
Or increases in the late 80’s and early 90’s the rate hit 14%
So I guess we all have too guess and do what’s right or what we think is right for our own individual circumstance |
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By (user no longer on site)
over a year ago
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It seems that the pent-up demand for properties since the Liz Truss days last Autumn, when most people put things on hold due to uncertainty, has delivered a significant bounce-back since the Christmas and New Year period, with prices back rising again and buyers back in the market.
It’s a people-driven system, with those who have the financial wherewithal buying to ensure they don’t end up sliding back on purchase power. Have already heard industry stories of people competing for the same property, and offering well over the asking price to ensure they get it. It’s time that such gazumping was stamped out once and for all by legalising some form of formal offer acceptance backed by deposit.
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