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Very interesting. But this can be read one of two ways.

Is it that people who have been wanting/needing to sell, are starting the beleive the hype, and think they can now get the price they want?

Or, is it that they have reached the point where they can wait no longer, and are trying to sell for what they can get?

It would be interesting to compare this rise in houses on the market with current asking prices.

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Very interesting. But this can be read one of two ways.

Is it that people who have been wanting/needing to sell, are starting the beleive the hype, and think they can now get the price they want?

Or, is it that they have reached the point where they can wait no longer, and are trying to sell for what they can get?

It would be interesting to compare this rise in houses on the market with current asking prices.

Two more theories to add to the mix.

1. The Conversion Rate Opportunity Factor: The recent relative strength of the Euro against Sterling would mean that advertising the property on Daft.ie is a no brainer (for those Canny McSavvy's with Euro bank accounts and an unhealthy interest in "investment" property). I am not sure of the market penetration of PN.com in the ROI and would naturally assume that Daft would be the property portal of choice.

Hence the asking price doesn't need to drop as the favourable Eu/Stlg exchange rate takes care of that whilst Sterling is weak.

2. If you accept that the boom in NI property prices was a result of Canny McSavvy investor speculation maybe some of the recent boom in Daft listing of NI stock is a case of one Canny looking to sell on the "asset" to a much less Canny McSavvy. It is easy to see why epiphany moments arise having read and understood David McWilliams' "Don't be Paddy-Last!", http://www.davidmcwilliams.ie/2007/01/09/t...t-be-paddy-last

To quote the first 3 paragraphs of an article that was originally published in November 2004 and then again in January 2007:

Now that the housing market is showing serious signs of a slowdown, it is probably worth revisiting the wisdom of all the foreign apartments, houses, condos and the like that were bought by us Irish over the past five years.

Little did we know when we were kids playing in the school yard that coming "Paddy Last" could cost us our financial security. However, with the Paddies scouring the globe for property deals, the old adage "Don't be Paddy Last!" applies like never before. From Cape Town to Gateshead, Bulgaria, Budapest and Boston, Paddies are driving up property prices and driving down yields to dangerously low levels in the process. Almost everyone is at it. This weekend, in all the papers, properties from the four corners of the globe were still on display and investor appetite was still palpable. Where will it all end and how?

Let's start in the air. This summer's Malev (Hungarian Airlines) in-flight magazine had a full page on Budapest's property market. The writer was ascribing the recent gains in prices in Budapest to a variety of factors: political stability, demographic factors, credit etc. Finally, the magazine highlighted what it called the "Irish effect", not the "overseas buyer" effect or "international investor" effect, but simply the Irish effect. Anyone visiting Budapest this year will know exactly what the magazine was getting at. For example, last August there were more GAA shirts in the lobby of the plush Marriott Hotel in Budapest than in the Burlo'. Paddy was there, cheque book open, ready to spend. The local estate agents say that in Budapest there are three prices, one for the locals, another for the foreigners and a third for the Irish. Although, yields have been pushed down to perilously low levels (that's if the property can achieve decent occupancy), Paddy feels he has a bargain because relative to Dundrum, Budapest appears cheap.

Edited by paul65

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I was going to say that I'd like to hear Paul65 and BelfastVI comments on this....thanks P....now where's BelfastVI hiding :P

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Had a look over there and was surprised to see the rise in houses in NI for sale and rent. Pent up supply, anyone?

http://daftwatch.thepropertypin.com/county-breakdown/antrim/

I think quite a few southern 'investors' (sic) are watching the whole NAMA episode unfurl and are clambering to get out before we reach the second wave of reductions due over the next two years. They'll be hoping for a few suckers to step into the breech and take the pressure of them. Its likely that they also purchased these properties from a highly leveraged position on their own homes and seeing the corresponding drop in equity are cutting their losses before its too late.

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I notice too that my area, county Down, shows a similar increase on daftwatch.

I can't say that I've noticed it myself, I'm starting to get fed up of the same old overpriced tat on PN. I've been watching for over a year, and it's the same old stuff, most havn't even acknowledged the 40% drop we've already had.

Edited by Darxide

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Two more theories to add to the mix.

1. The Conversion Rate Opportunity Factor: The recent relative strength of the Euro against Sterling would mean that advertising the property on Daft.ie is a no brainer (for those Canny McSavvy's with Euro bank accounts and an unhealthy interest in "investment" property). I am not sure of the market penetration of PN.com in the ROI and would naturally assume that Daft would be the property portal of choice.

Hence the asking price doesn't need to drop as the favourable Eu/Stlg exchange rate takes care of that whilst Sterling is weak.

2. If you accept that the boom in NI property prices was a result of Canny McSavvy investor speculation maybe some of the recent boom in Daft listing of NI stock is a case of one Canny looking to sell on the "asset" to a much less Canny McSavvy. It is easy to see why epiphany moments arise having read and understood David McWilliams' "Don't be Paddy-Last!", http://www.davidmcwilliams.ie/2007/01/09/t...t-be-paddy-last

To quote the first 3 paragraphs of an article that was originally published in November 2004 and then again in January 2007:

Well,

I now know the reason for the rise in property listings on daft. All earlier conspiracy theories about Canny McSavvy investment in NI are out the window (including my own theory above). So to put the record straight ...

It has been explained to me that daft.ie have been screen-scaping both propertypal.com and propertynews.com websites and adding the listings to their inventory in order to increase market penetration. We may well start to see that recent spike that appeared in NI listings on daftwatch decrease if legal matters require any illegally scraped listings to be completely removed from the daft database.

So there you have it. Simples.

C.S.I. NIHPC

Edited by paul65

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