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Eager Beavers Keep The Home Fire Burning

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Eager beavers keep the home fires burning

Sunday February 26th 2006


BULLS of the property market remain firmly in the ascendant despite the threat of an interest rate rise this week. The wave of SSIA money due shortly combined with the continued huge cash surpluses in property funds are expected to keep the housing market buzzing.

The muscle of mushrooming private property syndicates has often outbid pension funds in competition for key properties. Many are now looking abroad to invest as the supply of attractive properties at home is sparse.

Those looking abroad may be surprised to learn that Ireland only ranked 10th in the world property price inflation league for last year. House prices in South Africa jumped by 15 per cent, while the US, Denmark, France, Norway, Spain, New Zealand and Belgium all scored bigger gains than we did.

The momentum is all one way. The Irish housing market has so far brushed aside warnings from Jean-Claude Trichet of the European Central Bank threatening sharp hikes in interest rates to counter European inflation.

Prices at auctions in Dublin last week reflected buyer disdain or ignorance of warnings that mortgage rates could hit just short of 5 per cent by the end of this year.

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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