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Green Bear

Ireland: Hpi There's No Stopping Us Now

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A further sign of the buoyant market was the sale last week of a parcel of land in Ballsbridge for a record €95 million an acre.

In a major analysis of world property prices to be published at the end of the month, the OECD will say that the Irish property market is still not at risk. However, OECD insiders believe Ireland will join the critical list if Irish house prices fail to respond to higher interest rates.

OECD economists estimated that Irish house prices were 15-20 per cent overvalued based on prices and interest rates at the end of last year.

OECD: House prices put economy at risk


‘We were predicting single digit increases but prices in Dublin have continued to rise by between 10-12 per cent. I now expect rises of up to 15 per cent to be achieved in the Dublin area,” said IMAF president Michael Dowling. ‘‘It is insatiable in Dublin.”

Brokers double Dublin house-price forecasts


Anglo Irish Bank raised first half profits by 35% helped by strong demand for property loans in the UK.

UK property loans boost Anglo Irish Bank


Household debt levels will have reached 150% of disposable income by the end of this year, based on Goodbody’s estimates.

Affordability of houses ‘stretched’


The report says that if the current rate of price inflation continues, affordability will begin to deteriorate sharply by the end of the year, given the expected profile of interest rates. Therefore, Goodbody expects to see affordability constraints to have a dampening impact on mortgage credit and house price growth over the next 12-18 months.

Goodbody Stockbrokers' report says house prices relative to income are highest in West of Ireland


And another excellent article from David McWilliams which seems to echo some of the comments on here in recent weeks.

Had you suggested three years ago that oil prices would be above $70 a barrel, every economist in the world would have predicted a global recession. Today, oil prices are surging past $73 a barrel and the world economy is growing at 4 per cent.

Why? Because cheap money has allowed us to borrow to consume, making us feel richer (but more indebted), and China continues to pump out cheap consumer goods, meaning we can buy more stuff with our euros than before. Both of these factors have masked the debilitating impact of dearer oil, but for how long can they continue to do so?

Read on.....

Economic tide is on the turn


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SOUTH DUBLIN is running out of water, a fact that is threatening new development in the area. The unprecedented level of construction work in the city is now creating infrastructure difficulties that threaten to delay new projects, such as the latest €1 billion estate in Shankill.

Construction stops as water runs out


PERMANENT TSB is planning to enter the subprime mortgage market, which would make it the first Irish prime lender to do so

Subprime move by Permanent TSB


CATCH a glimpse of advertisements targeting would-be borrowers with poor credit histories and it’s easy to feel sorry for them. Not only are they being sold mortgages with hefty interest rates, but also they probably haven’t two pennies to rub together.

Not so, say the lenders who offer such loans, which are variously called subprime, nonconforming or specialist mortgages.

Ireland: Look again, there’s still hope for that loan


Then came the April showers. Five economic data indicators for the last month have been released so far — and all have disappointed.

Irish consumer sentiment down in April.
New car sales fla in April
Vat receipts plummeted 17% year-on-year
Housing starts dived 30%
Live Register for April showed unemployment claimants rose.

Rossa White: April showers rain on Ireland’s parade


The banks are looking for ways to extend mortgage lending.

35 year mortgages are becoming common, with 40 year mortgages offered if you are under 25.

100% mortages are available and now subprime loans. :o

Edited by Green Bear

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Well done Green Bear for compiling the articles. There's some very interesting reading there. The media in Ireland is turning more bearish by the week.

We have a very interesting year ahead. A general election next year is bound to be preceded by the biggest budget giveaway ever, which will only stoke the fires further. The government will be desperately trying to ensure the economy holds together long enough for it to be voted in for another term.

Edited by Flash

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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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