Current public sentiment towards the housing market?

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I also live in D6.

We are tracking a number of properties in the 3/4 bed semi sector.

We are witnessing very quiet viewings and nobody is putting in bids.

There are several cases of bids below the asking price for extended periods of time.

In one case a house that went sale agreed was put back on the market for 45k less and now weeks later still has
no bids.

Again we are only monitoring a certain segment of the market in D6 (3/4 semi) but these are supposedly the houses in greatest demand!

Prices are high, rents are low and the investment risks are increasing in this area IMHO.

Could be a summer slowdown but the end of the summer season is likely going to be met with accelerating interest rate hikes from the ECB..
 
I am following the market in D7 and D9. Properties are not selling at the moment but it is the quiet season. I have a booking deposit myself and am holding off on the contract until i do more research. The market could very well swing back into action in Sept/Oct but a house that is priced at 400,000 now is gonna look more expensive in sept/oct with the projected rate increases.

BTW, was talking to my german mate and told him the price of properties these days. He nearly had a heart attack.
 
I have a booking deposit myself and am holding off on the contract until i do more research.
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Do you feel this is fair on the seller and/or other next best bidder. The seller may be suffering a bridging loan and/or possible purchase chain?

Hopefully for you they won't have the same standards should they get a higher offer.
 
SineWave.....its a new build so no other parties involved.

BTW even if it was a second-hand property i would not have any hestitation in cancelling if i thought the market was changing. Thats not low standards by the way but common financial sense.
 
Remix said:
Could be a summer slowdown but the end of the summer season is likely going to be met with accelerating interest rate hikes from the ECB..
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Likely, is more like definitely. How will the Estate Agent Economists spin "affordability" with rates at 4%, let alone the prospect of them going MUCH higher?

ECB rates are going MUCH higher and at a MUCH faster pace than STILL currently accepted.
 
walk2dewater said:
Likely, is more like definitely. How will the Estate Agent Economists spin "affordability" with rates at 4%, let alone the prospect of them going MUCH higher?
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And them properties are bucketing onto daft all afternoon

50 up in less than 3 hours, a 0.3% rise in properties for sale nationally and that in an afternoon during a seasonal lull.

14139 , sorry thats 14141 by the time I finished typing
 
walk2dewater said:
ECB rates are going MUCH higher and at a MUCH faster pace than STILL currently accepted.
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The existence of the ECB and the effect it has on peoples lives has not fully trickled down into consumer consciousness just yet. I think it is starting to however and more and more talk about interest rates on the news is ended with "and likely to continue to rise".

As hikes continue into early 2007 with no prospect of a slowdown, this will change. No longer will they think of it as "the odd hike" or some kind of temporary financial pain. People will find themselves with very little discretionary spending and looking at the prospect of a long year with interest rates heading ever upwards.

Coupled with the usual post-Christmas debt burden I think it could be enough to bring about a really significant change in sentiment towards the housing market.

That said, who knows what goodies could be contained in the December give-away budget.
 
2Pack said:
And them properties are bucketing onto daft all afternoon

50 up in less than 3 hours, a 0.3% rise in properties for sale nationally and that in an afternoon during a seasonal lull.

14139 , sorry thats 14141 by the time I finished typing
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2Pack, might Friday afternoons be when they're uploading new data? Or when new data appears for some IT system or marketing reason? Still it's interesting, 15500 now...
 
walk2dewater said:
2Pack, might Friday afternoons be when they're uploading new data?
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It could be indeed , you see the odd downtick but the main movement is upwards .

14144 now .
 
walk2dewater said:
2Pack, might Friday afternoons be when they're uploading new data? Or when new data appears for some IT system or marketing reason? Still it's interesting, 15500 now...
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or it could be when people are all slacking off work and adding their house to daft for sale?
 
whizzbang said:
or it could be when people are all slacking off work and adding their house to daft for sale?
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The word has gotten back to at least one EA about this thread and they are busy cleaning off their sold houses as we speak. 14130 and falling now :p

Still up since lunchtime.

This Daft Watching is good clean fun though :D
 
Has anyone actually spoken to a respected EA and gotten his opinion on the current market?
 
2Pack said:
You have totally missed by Point. Sherryfitz CONTROL the entry of properties onto their website .

MyHome deals with EAs too. The EAs CONTROL the entries onto myhome, not the public.

DAFT allows ANYBODY to sell ANYTIME and is a realistic simulation of what is FOR SALE and not of what do the EAs think the market will bear....with the rest stacked up waiting their turn on the sales ladder !

14112 sez nobody is listening :D
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But Daft have loads of estate agents using it too. So are they not controlling the properties as well by that logic?
 
southsideboy said:
But Daft have loads of estate agents using it too. So are they not controlling the properties as well by that logic?
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Of course. However the unwashed are allowed in to party as well. :p Yer man has cleared back to where I started at lunchtime now.

Dont worry , I'm still watching !
 
Remix said:
I also live in D6.
We are tracking a number of properties in the 3/4 bed semi sector.
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There are very few 3 and 4 bed semis in Dublin 6. The area is mainly period red bricks and they are still doing very well.

Also I think this year a lot of EA's got a bit carried away with AMVs and Asking Prices. For example a modern 4 bed mid terrace house that had an asking price of €1.2m last year in Sunbury Park in Dartry went to auction the other day with an AMV of €1.9m - not surprisingly it didn't sell. Sherryfitzgerald recently sold a house that is 600sqft bigger in the same development for €1.9m so I have no idea why they chose such a high AMV. So dropping asking prices isn't necessarily a sign of sale prices dropping. It is more an example of EA's thinking they can dictate prices. But I do agree that with interest rates rising prices will definitely slow and probably even fall in some areas. However, I'm yet to be convinced of a crash. I think that we'll all have to wait until Septemeber and October before we have a good idea of how the market stands.
 
Yeah but there still is EA's out there who are not motivated by greed and have been in the business for years to know when a renovators dream means a damp invested hovel.

Just thinking that these guys must know as its their business to know.
 
BTW even if it was a second-hand property i would not have any hestitation in cancelling if i thought the market was changing. Thats not low standards by the way but common financial sense
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Phoenix_n, would you think it more ethical to at least get "off the bowl" while you wait for market changes.

The seller may be interested in selling, another "buyer" may be interested in buying.
 
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