Outside Dublin, does property go for under the asking/guide price?

T

tigerlady

Registered User
Messages
13
Hi,
First post on this site and apologies if this topic has been discussed previously I didn't have time for more than a cursory look today! My question is this, want to buy a property in Kerry, I am familiar with the Dublin property market and know an asking price in Dublin (particulary in FTB property bracket)is very much an upward moving figure. However outside Dublin, I have no idea if property goes for under the asking/guide price, usually reaches it,or exceeds it. Would appreciate info if anyone has any experience of the market in Kerry.
Does it depend on the type of property?
Cheers Tigerlady
 
Re: Kerry Property Market - Asking price query

Yes but out in the middle of nowhere near Killarney, near Tralee, near Kenmare? Killarney is very expensive, ditto Kenmare. Tralee is more reasonable etc
 
Re: Kerry Property Market - Asking price query

Iveragh, Caherdaniel area. By expensive do you mean goes over the asking price? Or a high asking price to begin with?
 
Re: Kerry Property Market - Asking price query

I'm not familiar with Caherdaniel, I'm afraid. By expensive I mean that some areas are hot spots right now and usually properties exceed the asking price. However that is very much a generalisation- individual properties can also differ within a 'hot spot' from the overall trend. The area is the key point though mainly- so for e.g while Tralee town itself in general offers reasonable value, as you start to head towards The Spa or other 'up-market' areas the price will rocket. Individual towns in scenic areas can often be hot spots too.
 
Re: Kerry Property Market - Asking price query

Best thing to do is get in touch with an estate agent in Kerry for a chat, maybe one of the traditional ones rather than the superstore type ones. You may find they are refreshingly different to Dublin estate agents and will give you a good idea of how prices go. We were thinking of buying in the Midlands a while back, and the estate agent there said 'if the asking price is reached, people are generally happy with that because that's what they want, if it does go over it is by maybe one or two thousand'. It seems to be a completely different buying environment outside Dublin - as depending on the area, it is not uncommon for a house to be on the market for months before getting any offers. That's why most of the prices are not published they are POA (price on application), as the price might be highly negotiable...
 
Re: Kerry Property Market - Asking price query

Please note LLL is a forum to discuss general topics of a particular area.
 
Re: Kerry Property Market - Asking price query

elcato said:
Please note LLL is a forum to discuss general topics of a particular area.
Click to expand...
Hi Elcato - apologies if this is in the wrong section - I originally posted it in the mortgages home buying section as my question is about guide/asking price and it was moved to LLL by someone there on the site. In the case of a rural property it does seem to be intrinsically linked to the location and I assume that was the thinking behind moving it.
Edited to add - and now its been moved again, back to where it started - lads I'm getting dizzy here!
 
Hi TL,

Sorry about the thread moving to Location and back again.

I have re written the title to reflect the question.

aj
 
The 10% rule applies normally , but you can always bid 20% under the asking if you are prepared to be ignored.
 
Thanks aj.
2pack - Is the 10% rule - bid no less than 10% below the asking price so they don't laugh you out of it, is that the idea?
 
Hi TL,

In Tralee properties frequently only achieve 90%-95% of the asking price.

Here are some of my observations of the market in Tralee.

Firstly, the property market in Tralee is not as bouyant as elsewhere in the county (Killarney, Kenmare).

Secondly, some autioneers encourage clients to go for a high asking price where as others suggest a more realistic asking price.

Finally, in Tralee some property owners engage in that entertaining pass time of "Whats my property worth?". They have no intention of selling and merely crave the feel good factor of knowing what their property is worth. In smaller markets this distorts the asking prices as the the clever EA's know who these are and encourage quite high asking prices.


Also I notice that in contrast to the East Coast where nearly all EA's put the asking price on the window display and newspaper advertisements, in Kerry you may have to call the EA to get a verbal asking price.

aj
 
Thanks again aj, the area I'm looking at is the Iveragh peninsula - rural properties. I fear this might be in the category of what Vanilla describes as a hot spot - potential for interest from overseas buyers with wads of cash.
TL
 
tigerlady said:
Thanks aj.
2pack - Is the 10% rule - bid no less than 10% below the asking price so they don't laugh you out of it, is that the idea?
Click to expand...

Normally you assume the EA knows how to price a property becuase they are professionals and you offer within 10% of it.

If its been on the market for ages or has missed a season ...eg on market since march , buying season over by september, you can go to 15% below

If its been on the market for yonks and has not dropped in price try 20% by all means .

I think the Iveragh is not a hotspot like Kenmare and Killarney, its quite remote especially in winter.
 
Cheers 2pack, thats very helpful. There's really only one way to find this out for sure - start making offers.
 
hi just noticed your post. I was looking at properties in kerry. I noticed that quite a lot of houses are up for sale with more than one auctioneer. There were differences in asking prices ranging from 10k to 40k. one EA even had 2 different prices on their own brochure and website. I also spent a lot of time researching a place i was going to put an offer on. found out by chance that something undesirable was in the pipeline nearby. google everthing!
 
I actually bought our house in April 2005 in Dublin 15 - and I offered 5grand less than the guide price.
We are FTBs, and were quite naiive. We assumed this happened quite often - but I'm thinking otherwise now.

Who advised us to offer less? The Estate Agent selling the property!!
So, to answer your question TigerLady - if it can happen in Dublin - it can happen anywhere.
 
You must log in or register to reply here.
Back
Top