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Green Bear

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Our leadership has a vested interest in keeping this debt bubble going, so its a bit odd when a department issues statistics showing a drop in the price of second hand houses, this does not square with the VI's, but don't worry that's being taken care of. ;)

Hopefully, you will get an idea from these articles, what it feels like to be a FTB here, especially when your Taoiseach tells you you've missed the boat. It also appears that the people who bought pre-2000 are selling up or borrowing against the increase in value of their existing holdings to inflate the price of property in the UK and abroad.

Currently, the Department of the Environment does not mix adjust its figures, which explains why its bulletin can show a fall in prices at a time when the property market is in fact booming.

Mixed signals on house prices

http://www.sbpost.ie/post/pages/p/story.as...3276-qqqx=1.asp

What the reports show

http://www.sbpost.ie/post/pages/p/story.as...3275-qqqx=1.asp

Mr. Ahern's comments:

"I mean quite frankly, if you had taken the advice a year ago you would have lost a lot of money. Everybody said we're going to see a huge downturn in 2005 linking into 2006 - they were entirely wrong."

No house price crash in sight in Ireland - from the very top

http://firstrung.co.uk/articles.asp?pageid...1685&cat=44-0-0

Further Audio & visual

http://www.rte.ie/business/2006/0407/property.html

Bertie Ahern, the taoiseach, knows that the economy will be his trump card in the next election, and that he will be able to say with confidence that “you’ve never had it so good”. He also knows that voters will hesitate before embracing change if the money in their pockets is jangling like never before

but . .

The CSO figures revealed that domestic demand is sucking in imports like never before, while export growth has slumped. More worryingly, much of the economy’s growth is skewed towards the construction sector and the associated borrowings and asset inflation that go with it.

Balance the boom

http://www.timesonline.co.uk/article...114546,00.html

“It is estimated that every one manufacturing job maintains three jobs in other sectors of the economy, highlighting the importance of the sector to the economy as a whole,” Fielding said.

Almost 6,000 were made redundant in the Irish economy in First Quarter 2006; Increase of 36% on 2005

http://www.finfacts.com/irelandbusinessnew..._10005432.shtml

Sharp fall in Irish March consumer sentiment may reflect personal experience of heightened job insecurity and higher living costs

http://www.finfacts.com/irelandbusinessnew..._10005473.shtml

and to top it off

The research produced by CB Richard Ellis shows that Irish investors continue to invest strongly in UK commercial property and are expected to spend in excess of €5 billion in the UK this year, despite the difficulty being experienced in sourcing good quality investment product in that market at the moment.

Irish investors on course to invest €9 billion in commercial property this year; Investment in UK to exceed €5 billion

http://www.finfacts.com/irelandbusinessnew..._10005426.shtml

PS. Can I borrow your copy of "Sheep may safely graze"

Edited by Green Bear

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Our leadership has a vested interest in keeping this debt bubble going, so its a bit odd when a department issues statistics showing a drop in the price of second hand houses, this does not square with the VI's, but don't worry that's being taken care of. ;)

Hopefully, you will get an idea from these articles, what it feels like to be a FTB here, especially when your Taoiseach tells you you've missed the boat. It also appears that the people who bought pre-2000 are selling up or borrowing against the increase in value of their existing holdings to inflate the price of property in the UK and abroad.

but . .

and to top it off

PS. Can I borrow your copy of "Sheep may safely graze"

Welcome Green Bear!

Can you call the end to the mayhem?

I was thinking of flogging my 2 bed in Jan 2007, but a lot of the SSIA soft money doesnt come out till July 2007. On the other hand who knows what impact the rate rises will have on sentiment. Better out a little bit 2 early than a little 2 late, I think.

Its the classic game of chicken :lol:

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Good compilation Green Bear.

That comment by Bertie Ahern is one of the most shocking and disgraceful things I have EVER heard an Irish politician say, never mind a Taoiseach.

He couldn't contain his glee as he said it, clearly displaying utter contempt for non property buyers.

It was a downright ******ing disgusting remark.

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That comment by Bertie Ahern is one of the most shocking and disgraceful things I have EVER heard an Irish politician say, never mind a Taoiseach.

Gordon Brown is probably thinking the same, even though he's not actually saying it.

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Welcome Green Bear!

Can you call the end to the mayhem?

I was thinking of flogging my 2 bed in Jan 2007, but a lot of the SSIA soft money doesnt come out till July 2007. On the other hand who knows what impact the rate rises will have on sentiment. Better out a little bit 2 early than a little 2 late, I think.

Its the classic game of chicken :lol:

Thanks Undersupply.

I reckon now is the time to get out, several established BTL's in my area (Dublin 7) have sold out recently.

You can probably guage that the FTB's are in a panic to get on the ladder, all encouraged by the VI's.

There is a general election due in the next 18 months, with government tax revenues well ahead of projections, there will probably be a giveaway budget in December that will hold up sentiment into 2007.

Bear in mind we are tied to the US/UK economic cycle so if negative feedback on those economies escapes into the mainstream media, then sentiment rapidly changes here. As one of the most open economies in the world Ireland will feel the full force of any international downturn.

Another factor you may want to consider is that new housing completions are well on target to exceed 80,000 this year , so supply is increasing.

The ECB is also increasing interest rates and this is already having an effect on peoples budgets, which may explain why VAT receipts are not exceeding projections.

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The updated link for the Sunday times article Balance the boom is

http://www.timesonline.co.uk/article/0,,2091-2114546.html

The Central Bank last week required Irish banks to provide 100% cover for mortgages where the value of the loan exceeds 80% of the value of the property. In short, that means the Central Bank believes property prices could fall. Interest rates are on the rise, however incrementally, and exacerbate the risk of the housing market unravelling.

Gonnabe a lot of Dubliners choking on their macchiato's in a few hours time :P

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yeah ,my house in dublin 9 rose by 100k sterling last year! im rich!!! so why doesnt it feel right! TTRTR time to really thinkabout reselling! (to some mug), move to some warm tropical country with the proceeds or just rent for a third the price ,just gotta persuade rest of family now!

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yeah ,my house in dublin 9 rose by 100k sterling last year! im rich!!! so why doesnt it feel right! TTRTR time to really thinkabout reselling! (to some mug), move to some warm tropical country with the proceeds or just rent for a third the price ,just gotta persuade rest of family now!

Ooh you naughty STRer you. Like a FTB on steroids. Best of luck. Will you take an offer? Are you easily insulted by very small amounts of money?

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  • 302 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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