Just to show how bonkers house prices are in Dublin at the moment – €115k over asking for a semi in Tallaght… Initial price was €380k now €495k – Flash backs to the insane prices pre the last crash…

33 comments

  2. I was watching a house in Cork, asking was 330K and it went sale agreed at 410K. A nicer house in the same estate sold for 320k 2 years ago

  4. Real 2007 vibes from nonsense like this. Can’t see this being sustainable. Either interest rate rise or a recession due to take a clobbering to them one of these days…

  5. It’s absolute nonsense. €495k for a modest semi in Tallaght.

    Say you had a €50k deposit, you would have to have a household income of €127k just to qualify for a mortgage for the balance of €425k. The mortgage repayments on a 35 year loan would be about €1500 per month which will probably go up in time given interest rates are so low.

    I feel sorry for anyone having to buy at the moment, this can’t last forever and we’ll have a big issue with negative equity again.

  6. The houses in watergate are solidly built and far better than some in surrounding areas and even more modern builds.

    It is on the pricey side but these are some of the best houses in Tallaght.

  9. I bought my house for a little more than what they’re over asking. Donegal, not Tallaght, which seems more of a bonus than a drawback if I’m honest.

  10. Is anyone checking that estate agent are not inflating the price without anyone bidding ? Like it’s happening everywhere those increase on the initial listed price, and we know that estate agent will get a commission on the final price, so…?
    Or the system is just wrong and we go straight into a wall

  11. The scary thing is the funds who see value in this property. They’re not clueless, and often have very savvy market researchers on their side. They obviously don’t forsee prices going down a whole lot.

  13. We are decades behind on house building. interest rates are growing significantly. Borrowing will become more expensive, meaning fewer people will want to take mortgages, meaning there will be a slump in actual demand.

    While this may turn out to become true, the impact it will have in practice could be understated, as the amount of new homes built in the last decade are significantly below wha t anyone in their right mind would project Dublin to require, I surmise.

  14. Half a €mil for what looks like a glorified council house? Jaysus! Tiny rooms, not enough space for chairs at the table, I pity the sucker that actually buys this.

  15. Online bidding drives prices up. Everything I see that goes up on Auctioneera always goes for higher than similar houses sold around the same time.

  16. I bought my 3 bed 110sqm red brick mid terrace in 2019, had to get it valued late last year and EA reckoned it would sell for over 150k on top of what we paid

  18. It really doesn’t matter how much “over asking” a house goes. That’s just an indication of how good or bad the EA is at pricing it. What matters is then euro amount that it sells for – which is indeed mental in this case.

  22. It’s the same in a lot of countries. The house across the road from me here in Malmö went for 90k over asking. And 150k over what we got our house for a bit over a year ago. Ours is significantly bigger too. The difference in Sweden is that if you can’t afford a house you can probably afford a nice apartment. I’ve lived in enough apartments in Ireland to know I’d never want to own one.

  25. There’s definitely worse value out there. Watergate is on the Oldbawn/Firhouse side of Tallaght. A fairly decent area in comparison to the Jobstown/Killinarden side.

    I’ve had around twenty viewings over the past six months and been told many times by agents, “asking price is the starting price” or “if you haven’t got the asking price in the bank, don’t bother viewing.” or “we purposely list houses 20% below what we expect to receive.”

  26. The issue is people are still willing to pay these stupid prices, if everyone stopped buying the prices would drop

  27. Its inflation, the rates will soon go up, everyone wants to lock in a low rate so demand is up. Will settle once supply chains come back to normal and shortages of labour relax and demand dies down with increased interest rates.

  31. Really makes me wonder how the hell we’re going to fit 30,000 refugees in.

    I’m all for helping them as much as we can. If that ends up being in paid accomodation though, it’s just inefficient to bring them to Ireland. We could house 100,000 in Poland for the price of 30,000 in Ireland

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