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Some signs of a slowdown in Ireland:

http://www.bizplus.ie/news/1446

Industrial Production Growth Slows

11/04/06: The volume of production for manufacturing industries for the three month period December to February was up 0.3%
However, the volume of manufacturing production
was down 5.8% in February compared to February 2005
.

Goes to show that all bad things (HPI) must come to an end sooner or later :o

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Some signs of a slowdown in Ireland:

http://www.bizplus.ie/news/1446

Industrial Production Growth Slows

11/04/06: The volume of production for manufacturing industries for the three month period December to February was up 0.3%
However, the volume of manufacturing production
was down 5.8% in February compared to February 2005
.

Goes to show that all bad things (HPI) must come to an end sooner or later :o

More bad news here from irish indo

Construction growth slips despite big State spending

Civil works have compensated for the slow housing and commercial areas

Pat

Boyle

THE rate of growth in the construction sector eased to its lowest level for eight months during March despite major spending on public projects, according to the Ulster Bank Construction Purchasing Managers' Index (PMI).

A sharp rise in the level of civil engineering activity, mainly due to major public infrastructure work, helped compensate for a dip in activity in both the housing and commercial sectors, the survey shows.

The seasonally-adjusted index is designed to measure the overall performance of the construction economy and, while in decline, it stayed well above the neutral or zero growth 50 mark at 56.6.

The result means that despite being on a downward curve activity levels in the sector have grown every month since September 2003.

According to Pat McArdle, chief economist at Ulster Bank, the civil engineering business was in the doldrums last year, with Government capital spending massively undershooting.

"Now, it is the strongest performing sector," he said, a feature which is in line with the recent Exchequer returns, showing that capital spending is on target and up a massive 22pc on the first quarter of 2005.

"It looks like the Government spending agencies have finally got their act together and 2006 could well be the first year in a while to see no underspends in either current or capital spending."

Civil engineering activity increased at the sharpest pace for 15 months and posted the most marked growth of the three construction areas for the second time during the first quarter.

The other two components, housing and commercial, were both off sharply, even if they remained well above the 50 no-change level.

"While housing is erratic, and one is loath to read too much into one month's figures, commercial has eased steadily from its peak last November," said Mr McArdle.

The March figure measuring activity in the commercial property construction sector was a 23-month low.

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WTF is SSIA?

Bit like ISA, tax free money where the government adds 25%, if u stay in for 5 years.Was designed when inflation was at 5%, money will be released just b4 general election :lol:

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Bit like ISA, tax free money where the government adds 25%, if u stay in for 5 years.Was designed when inflation was at 5%, money will be released just b4 general election :lol:

Also it was a once-off scheme. Bit of a pisser for those who were unable to pay in at the start of the scheme and then have to fund it out of tax. Feckers.

Still, I think SSIA is a brilliant example of exactly what a government should not be doing. By all means create saving schemes, make them tax efficient for ordinary people, give banks incentives to make them attractive - but putting money in when the accounts are going to be held by the more-well-off anyway is a completely retrograde step in terms of income distribution.

I can live with my tax money paying for rent and vodka for single mums but going towards holidays and fitted kitchens for the well-off REALLY pisses me off. This lot of bread-and-circus providing morons will never get my vote ever again. Not even 10th preference!!!!

End of rant.

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Some more observations

Dublin people may have noticed that quite a few petrol stations in the city have closed or are closing.

Not only that but several established business are closing as well.

What is happening is a direct effect of the property boom.

01. The property is worth more than the turnover of the business.

02. The business can no longer get staff at economic rates.

03. The owner is close to or at retirement age so this is a nice nest egg.

04. The population is being forced out beyond the suburbs by the price of property, so businesses that depend on a local catchment area have a decreased market.

05. The Internet - we are bypassing the high street shop and going direct or using services like Ebay.

06. Retail outlets in the city center pay very high rents, which means only businesses that sell products with a very high margin (e.g. mobile phones, music, clothes) can afford to locate there. Established businesses can't meet the rent and close.

07. Parking is expensive and inconvienient in the city center, thus driving shoppers to the out of town shopping centers.

08. The banks lend to the developers to build houses. IR's increase.

09. The banks lend to the public to mortgage houses. IR's increase.

10. People borrow money based on the increased value of their house (mortgage equity withdrawel) to fund imported goods such as flatscreen TV's and computers, and other goods that are imported from Asia + holidays

11.Because people are being forced out beyond the suburbs you need a car, this is bought on a loan, Fuel prices have also increased. SUV sales are well up.

12. Borrowed money is flowing out of the country into foreign property scams.

13. Yields on the rental market are really low, if a significant number of immigrants left tomorrow, the sector would collapse.

14. We are on course to exceed 80,000 properties completed this year & section 23 ends this year (July 31, 2006)

15. Some businesses can't get the skilled staff needed here and are moving to markets with an abundance of skilled cheap labour (This is one of the reason's Irelands own boom took off in early 90's)

16. I know of lots of appartments that are build in the city, that are not being rented (Capital appreciation)

17. Watch carefully what's happening in the UK and the USA. We are tied into their economic cycle.

18. Germany is starting to pick up, and so are the ECB rates, and is a much more attractive destination for most East Europeans once it opens its borders to them.

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  • 301 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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